I also found out UOB does not pay interest for the last day of FD.

I'd rather take the 3.75% 12months promo from hlb.. No need to go open sav account and think where to move the funds few months later.

Do we need a saving account to open this deposit if we choose to add the interest to principal?

btw, after requesting a bankdraft from my PBB FD withdraw, can i use the banker cheque to open Hong Leong FD directly?
will they issue the FD cert immediately or will need to wait the cheque to clear before they give the FD cert?

Thank you for your reply

CIMB call me and mention something about upgrade my saving to account to Premier or premium account . the the FD rate up to 5% .
no time to go CIMB bank yet . any confirm with this ?

The guideline indicated on their website for e-placement FD. However, due to online phising scam, I prefer to walk in to deposit the cheque. By doing this more comfortable for me as involve huge sum. I submit the cheque to the officer, ask for a photostate of the banker cheque and ask for acknowledge receipts. I will be going again this weekends to top up the FD....

UOB latest FD Promo effective 1st March to 30th April, 2013
Minimum deposit RM10,000 (new funds)

3 months @ 3.5% p.a.
12 months @ 3.7% p.a.

New Zealand considers Cyprus-style banking failure solution
Published time: March 19, 2013 09:59

Banking, Crisis, Economy, New Zealand

New Zealand depositors could face a Cyprus-style tax on their bank accounts, as the government is planning to impose a similar strategy on its banks warns the country's Green Party.

New Zealand is facing a similar bank failure to Cyprus, is likely to adopt open bank resolution (OBR), which will see small depositors lose part their savings in favour of a big bank bailout, Green Party co-leader Russel Norman said. The country’s Finance Minister Bill English supports the open bank resolution.

"Bill English is proposing a Cyprus-style solution for managing bank failure here in New Zealand," said Norman, adding that the Reserve Bank is in the "final stages" of implementing an OBR system.

New Zealand banks’ depositors will have their savings cut by a certain percentage needed to keep their bank afloat.

The Green Party however has major doubts, that OBR tactics is appropriate here. Norman underlined, that few depositors can reasonably evaluate the reliability of their bank. “Not even sophisticated investors like Merrill Lynch saw the global financial crisis coming,” he added.

Norman believes that OBR policy is too radical saying few OECD countries use it, preferring deposit insurance schemes.

"A deposit insurance scheme is a much simpler, well-tested alternative to open bank resolution. It rewards safe banks with lower premiums and limits the cost to taxpayers of a bank failure… [They] protect people's deposits up to a maximum ranging from $100,000 to $250,000," he said.

http://rt.com/business/new-zealand-cyprus-...e-solution-477/

i think i have to keep that money as FD for at least 10 years.

No CASA rquired? The rate is fixed for 12 months without any additional/hidden T&C?

Confirmed. If you take any amount in cash from the principal plus interest lump sum, UOB will charge you RM2.15.
I wanted to do that last week but was told that I had to pay RM2.15 for the check instead, but I rather paid just 15 sen for the check.

the uob 6% is for 3month only right? the 6% is plus mutual fund, so means not fixed 6% return?
pay principal in others bank's check no extra charge right? then collect cert and wait matual,
after 3 month collect principal + interest in cash or check got different charges?
confused

Thks for advise. Actually. Housing loan interest is different from fd rate. As the principal will reduce gradually and the intwrest portion is much hogher during the initial stage of loan. While I am only consider the flexi housing loan.. So collateral issue is not there as we are not settling the loan. We are nerely put in the lump sum to avoid the interest part and his monthly installment remain the sane which will enable him to settke the loan sooner. When I need the money I can also withdraw from this flexi loan acct.

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

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

any bank offer the higher interest FD for senior citizen? thanz.

hi all, 3.05% p.a on a fixed deposit 3 months is how to calculated?

i earn 3.05% every 3 month issit, or 3.05% every year?

Just added some funds to the HLB Junior FD (12-month @ 3.85%, with roll-over 12-month @ 3.95%).

Withdraw cash at 26-Apr and "reinvest the same amount" today.... No issues.

Why do I need to top-up that amount... I purposely wanted to test.
I did re-issue a cheque rather than cash for the FD placement.