Some of my FDs are maturing this week with OCBC...looking at the option in the market, I think the right choice is still to extend it with them, hmm...

Oh yeah...forgot about that part where I can't withdraw from the same SS account. May I can try my luck to open another SS account because some of the members here were able to do it (depending on the branch). Either scenario above won't earn me close to 4% effective rate...that's not good, lol

NO...you haven't been reading what others have been discussing here ka
And didn't the RM told you how to maximise the interest returns using Smart Savers account?

4.5% is for your 10K. Your 5k in savings, you go for Smart Savers account which gives you 2.98% (or something like that). So you max it out to effective rate of close to 3.95% or so (close to 4% already). Your Smart Savers account need to have RM1k deposit each month and no withdrawals allowed.
Please do a search on this thread and you can easily find a lot of feedbacks to help you out.

You should also do your part in verifying and asking them about things that you don't understand because sometimes they assume you do (or you looked like you do after they explained to you).

It's okay to ask questions because I'm a newbie in a lot of things and I understand how easily lost we can get in this kind of things, but it seems like you didn't understand the basic ones even after talking to the RM. So it's a bit worrying.
Next time, just ask the RM as much as you need to. It's their job. If they're impatient, uninterested, just-want-your-business-and-promote-all-the-nice-things, or worst, don't even know their products, then at least you know not to go there (or back to the same RM). I've avoided banks with lousy advisors because they give me zero confidence.

After you have any of those decent conversation, you can come back here and share/seek clarification here so everyone benefits from helping one another.

It only works for the first RM10k, and it's messy with the CASA.

No.
And if you top up, the effective rate will be lower than what you're getting in the initial deposit because this offer is tied to CASA.
Ask the wealth advisor for more information because it's more complicated than that. Or refer back to the thread as this were thoroughly discussed before.

Hi, gsc. Are you still in the 4.5% promo? I think you mentioned before they no longer allow you to open extra SS account, but I can't recall if you went ahead with it by join account or went for other banks' promo.

You mean they will let you re-open (as in sign up again for the promo) with a new single SS account after you closed it earlier?

Does anyone know of any long term FD that pays its interest out monthly? I'm trying not to go for monthly FD because the rates are lower.
It's not really for me, but for my parents. Thanks.

1st of Aug...hopefully we can see more new promos.

Seems like lately there's a number of savings account that provides nearly 3% interest.
FD last time also not that much higher.

Just off-topic a bit. Anyone considering to go for this? Suitable for those with spare cash, can put into this to get decent % with chances of winning RM500, lol.
But the conditions seems complicated.

I'm not the long term type of person. I'm just wondering...wouldn't 5 years be a bit too long for you guys to keep?
The difference in interest rate is not exactly that high for a long-term commitment like that. Besides the matter of preference, any other reasons?

Thanks for this!

Can I assume that you don't mind having your money tied up in FD for a long period of time because you're okay in your liquidity?

Seems like a decent deal for 12 months...hmm...anyone considering this?
I gotta look up more info on this in the meantime.

Morning

That's a fast calculation of effective rate, wahhh...
But I was thinking earlier...10% in CASA, still not too bad, at least not 50%. And I need to find out if they have any CASA that can pay close to 3%, then it should be okay? But RHB, I'm not a fan of them.

I agree that their 12 months for existing customers is okay too.

Saw this promo earlier...super high min amount. But the one thing that turned me off is...it's insurance-linked.

Yeah, I was thinking if opening a savings account is considered as existing customer, then can use that shortcut to place that 12-months FD, hehe...but I doubt they're that easy with this condition la.

I'm no longer surprised with replies at such hour from you, lol...

UOB 3.45% quite low...are you still using OCBC's 4.5% btw?

Yeah, your scenario just happened to me. Everything's done as of end of July, so I'm not sure where I should move the funds to now =/ I'm behind time since clock's ticking as it's already August.

Will this be under one of your considerations too? As in to renew under this promo next month.