Hi, gsc. Savemoney.my did a calculation on this and apparently the effective rate 3.097% p.a. only. It's much lower than what you have there. Not sure which one is correct, but it's surely not a fancy offer at all.

OCBC NEW SAVING PROMOTION TILL END OF JUNE

4.5 % FOR 3 MONTH FD

MINUMUM FD PLACEMENT = 5000
MAXIMUM FD PLACEMENT = 2X of ur CASA account balance.
*FRESH FUND ONLY

This is OCBC's usual promo that's being offered earlier this year. Tied to CASA. I thought you have some with them

This has nothing to do with my luck.

Every OCBC branch has their own policy, each branch works independently.

Last time I called OCBC help about to get additional Smart Saver account, they said
this depend on the branch. If you have good reason, they may allow.

You should try to ask for it. Good Luck 

ok stupid me 
2/3 of total fund at FD,
1/3 at CASA = 1/2 FD amount         
But great news is there is no restricted number of account for SS, this one end 30th june

hahaha, bursa more interesting than FD currently 

Those who invested in AUD must be freaking out at present rate BUT I am overjoyed. did several transactions with CT Global Transfer to my Oz account  The savings I get from AUD weakening in the last 2 weeks is like getting 2 years interest in MY FD.

Huh? Why is that so? You expect AUD to strengthen? Rating houses have issued statements that AUD rating may be revised if the government do not go back to surplus budget in coming years.

Bro, there is no such Newton's Law    And maybe now AUD is experiencing gsc's law - on the way down since it has been up for sometime.

Anyway, for your further info, the last round the RBA cut the interest rate was mainly because they wanted to weaken the AUD!!! Go google their May meeting minutes.

I guess if you play AUD, what you should pray for is that our Ringgit weaken in the future but that would also make our imports more expensive. So I be praying the opposite thing - that's Newton's Law - for every reaction there is an opposite reaction, hahahaha

But over the past 55 year, RM vs SGD, gsc law doesn't apply.

Dont waste your time as the amount that enjoys 4% rate is twice the amount you deposit into CASA 
That's an excellent question that only you can answer.

If you need AUD in the near future, why not? If you converting back to MYR... god only knows what the conversion rate will be when it matures (or when you decide to convert back after several renewals). You also need to play god and predict if the interest rate will be going up or down in coming months or years and since last year it has been falling.

Edited***

Here is an example:

Last year this time the lowest conversion spot rate was around 3.10 (I know because I was in Melbourne last year this time). Right now at this moment as I am typing the rate is 2.9444, that's 5% difference. So if you had deposited into AUD last year into 1 year AUD FD and get 4.5% interest, you would have thought you got a good deal. But today, if you need the said fund for something and therefore withdraw the FD and covert back to RM, you would actually get less even with the interest earned. And please note, I have yet to even take into consideration the bank's commission of about 1% every time you convert. So effectively you would have lost money even though your principal earned 4.5% interest in AUD FD.

Like I mentioned earlier only god knows... too many infinite variables at play. Not too long ago it was AUD/USD 0.65!!! Go check it out if you don't believe me.

End November 2008 dropped to .62

Are there any FD that offer higher return if i commit for say 5 years or more? This is mainly from the money accumulated for my son. so i won;t be needing it for some time. thanks in advance

Once again, be warned, make sure you check the interest paid to you if your PBB FD matures on a Saturday or Sunday because they will not pay you the 1 or 2 days interest (if got a Public holiday that's 3 days interest) unlike most other banks.

Have you ever approached by OCBC RM to ask you to buy their investment products?

Recently they have a RMB (China currency) forex investment plan, minimum investment is
RM 70K, projected return is either 7% or no return at all, but the capital is guarantee secured.

And 1/3 of fund can put into FD to enjoy 4.00% (if I am not mistaken at this rate) for one year.

When I asked for a hard copy to study at home, the RM said no. 

What do you think of this product?

Sorry, off topic here...

BoomChaCha, if you're a Premier customer already, why didn't you go for the 5.5% FD promo? It ends this 30th June. I know the requirement is to have a few investment products with the bank, but I think since you've already got some FDs, all you need is to do some other investment with them. But of course, the downside is if you can't find a product that suits you, then no point thinking about..

So no, it's not for life. Unless I've been wrongly advised.

Did you mean if I want to continue my FD in OCBC, I can Giro my fund from Public bank to OCBC?

Can you explain in more detail how does it work?

I heard Giro will take 2 days to clear the check?

Thanks

If I dun have any saving account / current account in OCBC..and I want to transfer 50k to ocbc for FD..what is d best method? IGB got limit per day?

RM500k is for over the counter IBG limit ?

When I was in OCBC few days ago, I saw an old woman was using Rentas to transfer fund from
her matured FD into her current account so she could renew her FD on the same day.

She said only Rentas was the best for same day wire transfer.
15 sen for IBG is very cheap.

How many time have you used IBG and you can get the fund transfer successfully on the same day?

What is the difference in between Giro and IBG?