I'm looking at HL's 3.75% and 3.98% rates. Don't quite understand the difference between these two. The latter being a top-up, meaning...you have to place for the sweet deal of 3.75% first with min 50k for 12-months and then top-up another min 50k + 8% into savings to get 3.98% for 6-months (or next 6 months)?

I prefer 3-months deal...not sure if 6-12 months' worth the trouble or not.

Hi guys...for OCBC's FD deal of 4.5% for 3 months, can you help me to verify if my calculation is correct?

Let's say I put in RM50k into FD and as per their requirement, another RM25k into the savings:

FD (50,000 x 4.5% / 12 months) x 3 months = 562.5
Savings (25,000 x 2.9% / 12 months) x 3 months = 181.25

Total = 743.75 for 3 months

I took 2.9% as the savings interest rate as I think it's their latest.

Also, what do you think of this deal? Is it worthy of deposit? I'm thinking to do so next week once my other FDs are matured, so appreciate your thoughts

Ah, thanks for your example, I get it now! But since it's past beginning of the month and I could only go for the FD next week, I guess I'll have to endeavor monitoring two different dates of withdrawal. Otherwise, it's a long wait till next month.

And since the Smart Savers 'saving' account interest is calculated daily, is it right to say that I won't lose out too much having to keep them for a few weeks till the end of the month at the rate 2.9%?

Yeah, that RM1k requirement...I really don't understand the reason for them to ask us to do this, hmm...Standard Chartered has the same ruling too.

RM1k extra every month also they want ah? Okies

I did refer earlier
And I think what you just suggested about moving the FD fund to Smart Savers works well! Unless a few months later there's a better promo elsewhere, otherwise parking in under 2.9% for the time being is decent.

Lucky earlier when I thought OCBC 4.5% promo has ended, I was told at the bank that it's renewed from April till June period. Just curious, is it still eligible for you since you've done it in the earlier cycle?

And thanks a lot for taking time to address my questions earlier.

I'm a girl, so technically you can't call me a fag ....I'm just blur *stomps feet*

Thanks for being precise!

Their website is so plain... anyway, haven't checked it for updates, but last week when I went to the bank, the staff told me there's a new promotion period from April 1st till end of June.

Yeah, the bank memang calculate from all angles, cannot outdo them, lol...
I have some questions on this offer, hope you or other forumers can help me clarify.

In regards to the Smart Saver account:
1) If I were to deposit at two different dates, it will still go to the same account, yes? Or can we have two SS accounts for two FDs?
2) As you know, once we withdraw from the account, the 2.9% will drop. So what happens for those who want to continue in the next promotion term? Meaning cannot withdraw until we decide to not continue/no more promo? If yes, then the money will be stuck in there kan?

Thanks!

Even if withdraw out by cash, I think have to wait till the next day before you can deposit it back. At least that's what I heard from AmBank (need to clarify).

Btw, aeiou228, I don't understand the ratio you just put up. Do you mind to explain using figures for me? Thank you very much!

I still don't know why it's gonna be lesser than 3.9%
But assuming so, then I guess for the first time deposit, just hantam a big amount into it and move on to other FDs after 3-4 months.

Ohhh...wahhh...really calculate to the dot. Don't know how would I ever be able to see things beyond the simple calculation
Thanks a lot for this and your patience!

Then I guess to make it more straightforward for people like me, best if I just put in a big sum for this promotion to get the max out of it without thinking about the 2nd or 3rd round + the further complication of SS account. I mean, easier if I just deposit let's say 150k (100k FD + 50K SS) rather than put in 75k today and 75k next week.

Anyone knows what will happen to the SS account if we close or left it idle after this and maybe 1 year later if there's any other different promo that ties in to SS, will there be any impact?

Yeah, I agree too. I'll just keep it open.

I see less discussion on this thread lately. Is it cuz all money dah deposit into FD?
Anyway, just to share, I've FD-ed my money with OCBC's deal for now. I guess that means not much into looking at others at the time being, and not many new promos of late as far as I can see.

Btw, those who wants straightforward deposit can consider UOB since it's at 3.5% with no CASA.

None...kat Penang, as far as I know, takda Anyone knows if they're gonna setup one soon?
I also wanna have that 4% (although lock-in period is longer...) cuz it seems straightforward and interest is high.

Wow...that's just silly.

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

At first I thought since it's offered on such unique days, the interest must be a lot higher. But looking at the %, it's not good enough

Thanks for the info, by the way!

I didn't care so much already after going through the calculations and troubles, so I ended up just putting in however much I have over the span of April. By the time they're all matured, it's gonna be in July. So since I'm not supposed to withdraw my SS account till Aug 1st, I will just switch those FDs that have matured earlier into the SS account while waiting for the rest to be matured. One shot withdraw all from SS after that.

Considering there's 2.9% for SS account, it's not too bad to park those FDs that has matured under it for max couple of weeks if there's no other good FD promos elsewhere.

Anyone knows if UOB is coming up with any new FD promos before the current ones end tomorrow?
Don't wanna go put in for the 6 months 3.5% and then they go launch something better in May

Hi, cherroy. May I know what's OPR?
Yeah, I agree too...I guess I just don't want to bite myself if they come up with something which has a big difference in %, hehe