Log in to my MACH account and found this notice

With effect from 02 May 2013, the Interbank GIRO (IBG) funds transfer fee will be reduced to RM0.10 per transaction.

I guess wait after election may have new promo FD. Now so far i stick with Mach HL. Any below 4% not attract my interest at now...Had asked Mach HL whether got extention, but said not sure yet.

Well, I guess I opted for sky high savings rather than rebate on IBG when i opened my MACH account was a wise decision.

Time to take a look at gold deposit investment.
The gold deposit is freaking hot at the moment, CIMB text me gold price is 2 years low now.

Lucky you, i went the other way. Need to change although it doesn't really matter

This post has been edited by bearbear: Apr 18 2013, 02:59 PM

http://voyager8.blogspot.com/2013/03/malay...y-transfer.html

Which result in MACH features been useless. No point to choose Free IBG. On the other hand, i for one is gonna stop using cheque with such high charges compared to IBG.

At first I thought it'd be nice to have HLB branches running on shopping centre operating hours...

Me: "Hi, Mach by HL branch open until night, right?"
HL guy: "Yes."
Me: "U see, I have accounts with HLB, can I do transactions here?"
HL guy: "Yes."
Me: "Unit trust transactions?"
HL: "Errr...no."

Admit that they still have alot to improve on but credit to them for breaking the usual rules where bank usually close by 5PM.

I just found out about this FD promo from HSBC.

Promotion Period: 1st April – 30th April 2013.
Minimum Deposit: RM100,000.00
Maximum Deposit: RM250,000.00
Rates offered:
1. First and Second Month: Prevailing Board Rate (refers to the board rate at time of placement)
2. Third Month: 7.88% p.a.
Effective Rate: 4.43% p.a.

Highlighted Terms and Conditions:
1. This promotion is for new HSBC Premier Customers and for Upgrade to HSBC Premier Customers who place or top up their existing Total Relationship Balance with / to a minimum amount of RM200,000.00 in deposits and/or investments at the point of the HSBC Premier Account opening and open an HSBC 3-month Time Deposit account with fresh funds on the same day. New HSBC Premier Customers are required to sign up for an HSBC Premier World MasterCard Credit Card.
2. The Eligible Customer must hold his / her HSBC Time Deposit placed within the Promotion Period until maturity to enjoy the Special HSBC Time Deposit interest rate. The eligible customer who uplifts the HSBC Time Deposit prematurely will not be entitled to enjoy the special HSBC Time Deposit interest rate and any interest previously paid under this promotion shall be deducted from the placement amount.

How to be an eligible HSBC Premier Customer:
1. Deposit and/or invest in Premier Savings, FlexiTime Deposits, Unit Trusts, Structured Investments, Dual Currency Investments, and Direct Retail Bonds with a Total Relationship Balance of RM200,000.00 or more.
2. An account fee of RM150 will be applied for the month should your average Total Relationship Balance drop below RM200,000.00. There won’t be any charges for an average Total Relationship Balance of RM200,000.00 and above.

What do you think of this? Appreciate any thoughts

That's the trap/catch.

I don't think the effective rate is 4.43%. Because only 50% of your TRB qualified for promo rate.

Covered by PIDM? Wondering if this is same kind or derivatives of Structured Deposits as asked by keneshiro7 earlier?

these structured deposits or investments come in all shapes and sizes - can be driven by klibor, cpo price, bmw or apple stock price, gold price, hybrids, etc.

they are offered by the investment bank arms of most major banks and are not pidm covered. they are usually capital guaranteed by the bank, though.

perhaps due to a prolonged period of low interest rates, these banks send out texts, advertise them as if they are regular fds but with high interest. unsuspecting depositors may misuderstand, be misled and make mistakes. such tactics are now also seen with insurance sellers using major bank names and "30% interest".

HL senior savers/conventional FD promo @ 3.75%p.a. is going to end earlier. This monday 22nd April will be the last day.

Ocbc one very complicated if u put in separate fd for the 3 months 4.5% promo. If one of it mature and credit back to ur savings account but the other one not mature yet, can't make withdrawal, if not will affect the effective rate of the fd that havnt mature

Hi Guys. The Mach FD 4%, is the interests pay out monthly ? Thanks

yup, ended.

what is still available until end june but may be earlier:

jr sav a/c 3.85% p.a. for yr1, 3.95% yr2.

interest goes into sav a/c, locked 2 yrs, no frills, no earmarks.

not bad if u can accept 2 yrs lockup.

This post has been edited by AVFAN: Apr 23 2013, 06:20 PM

The only way is to bundle 2 different FDs with 2 different Smart Savers accounts.

Money in bundled Smart Savers (Bonus Savers) cannot be withdrew until the FD is matured; otherwise
the interest rate will be effected (less). But I do not know how does OCBC calculate this penalty rate?

yea, but i bundled it in 1 smart savers.. didnt think of that when i place..

anyway, the 'penalty' you mentioned, is reduced interest, if you top up 1k a month into smart savers, the smart savers account will get 2.9% pa, if you make withdrawal, it'll be 0.05% only..

the minimum balance you need to maintain in smart savers is the original 1:2 portion, if the balance go lower than that, your FD interest back to board rate (iirc)

AmBank launching FD promo tomorrow, just for 2 days (29 & 30 April)

Tenure 3 months -> 3.30 %
Tenure 6 months -> 3.45 %

New Individual Customer -> Minimum RM20k
Existing Individual Customer -> Minimum RM10k

This post has been edited by mhspeng: Apr 25 2013, 06:01 PM