RHB 3.78 and 3.88 was offered and ended 31 Aug...are you saying RHB re-introduce this offer?

hmm.. when i asked about the 3.88% on last week, the staff told me they had reach their target of 3M(if i recall correctly), then she introduce this offer which is islamic package. so i think is two different package. btw, this package ending 2molo..

Yes, if you transfer to SA, you can then transfer the funds online to another account.

And Bro, the RM5.15 is if you request for cheque, so if you were to withdraw the FD in cash form, no whatever fees involved.

Thanks for the update Bro

Might as well go with 13 months 3.55% and save time going to the bank and not having to worry about new funds thingy. But then again, at 3.55%, it is still lower than Affin's board rate of 3.6% for 12 months. Looks like KFH current FD Promos are the most competitive currently for those wanting PIDM.

I just checked out their new promo too and damn, all rates went down so much.

The effective rate for the mega saver now is so terrible...I guess I won't be doing much with OCBC for the next few months.

PIDM partners with Hua Zong to reach out to Chinese community

PIDM said this programme would help enlighten the Chinese community especially those from the smaller towns, to learn about the financial consumer protection provided by PIDM.

As part of the collaboration, PIDM will and Hua Zong would hold five briefing sessions on Deposit Insurance System (DIS) and the Takaful & Insurance Benefits Protection System (TIPS) nationwide.

“This is part of our ongoing initiatives to further enhance public awareness of PIDM, DIS and TIPS and to promote confidence in the stability of the financial system in Malaysia,” communications and public affairs division general manager Rozita Ahmad.

She said briefings with Hua Zong will be conducted in Mandarin starting Sept 6 in Alor Setar, Kuantan, Kota Kinabalu, Batu Pahat and Nov 23 in Bintulu.

Yea, was at OCBC yesterday and was informed about the drop in interest rate as well.

If you pair up with Premier Save Gold S/A, effective rate is about 3.8% (compared to before it was almost 4%).

Looking into KFH promotions now. Any other banks offering good rates this quarter? Interested for 3 or 6 months term only.

You mean if we take up the 4.2% promo and open a Premier Save Gold SA, it can come up to about 3.8%?
Is there any conditions to this SA, do you know?

Yea, I did mentioned about Premier Save Gold SA few months back before. One of the sifus here also did say that need minimum RM200k in the SA to earn the ~3% interest p.a. That's the only drawback I guess - 1/3 has to have RM200k. The good thing is no need to top up every month like SmartSavers account to earn 2.9% p.a.

Oh sorry, I must have forgotten about that. Thanks for your reply.
It's a big setback, totally out of my league, haha...

Like you, I'm interested only in 3-6 months term too. KFH seems to be the best for now if you want PIDM. But I still have my reservation with that bank.
Now I'm also considering BR. Or maybe it's time for me to venture into investment, haih.

Yea, that was quite some time back. Haven't been chasing FD promos for quite some time already.

Will drop by KFH branch tomorrow since I'll be passing by one on my way out, probably put some funds in. Mind to share with me what are you reservations with that bank?

BR rates are quite good too. Only thing no PIDM status.

KFH...don't know what they really do with our funds. I've asked around several people and they all are feeling reserved.
Do let us know how it goes for you tomorrow.

It seems that the bank strategy is throwing the net initially to attract customers with high short term (3 months) and now it is the time to tighten the net to lock the fish for 13 months...



This post has been edited by gsc: Sep 12 2013, 12:21 AM

I did mention about the OCBC Premier Savings Account in my article The Best Savings Account in Malaysia for Children, Adults, Parents and Grandpas too.

The OCBC Premier Savings account used to pay 3.05% and now 3%. No need to deposit monthly to earn high interest rate equivalent to OCBC 1 year FD unlike the OCBC Smart Savers Account. Also you are not penalized if you make withdrawal. Best part, interest credited monthly too. Only condition is you got to maintain RM200K in the account. And yes, this Premier savings account has always qualified for the OCBC Combo FD Promo.

This post has been edited by Gen-X: Sep 12 2013, 02:07 AM

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A message from UOB website:

Cheque Processing Fee of RM0.50

Effective 1 April 2014, all banks in Malaysia will charge a processing fee of RM0.50 and stamp duty of RM0.15
for every cheque issued.

We therefore encourage you to take advantage of our Internet Banking services to perform your transaction.
You pay only RM0.10 per Interbank GIRO (IBG) transaction.

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I was told by Bank Rakyat if to transfer fund online via Giro from Bank Rakyat saving account to other
banks, this process will take 2 working days, so this means that we will lose 2 days interest..?

Luckily, other banks can receive fund on the same day if we use Bank Rakyat ATM machine to transfer fund, but this will cost service fee RM 1.00. I was wondering if other bank ATM machines can transfer fund on the same day just like Bank Rakyat?

Thanks for the update

Banks become more cunning lately.. This is a FD battle in between banks & Musical Chair members..

This post has been edited by BoomChaCha: Sep 12 2013, 02:11 AM

Bro I just updated my Fixed Deposit Page for the OCBC FD Promos and when I calculated the effective interest rate for the Mega Save, it is up to 3.71% and 3.78% with minimum deposit RM50 and RM1K per month respectively (that is if go sign up the Mega Save early in the month and withdraw the amount in the Smart Savers early of the month when your FD matures so that you won't be penalized with 0.5% interest in the Smart Savers, go deposit mid month, interest maybe drop to 3.55% or even less ). Go with OCBC Premier Savings Account, the interest is about 3.8% guaranteed since one won't be penalized for withdrawals but of course must maintain minimum amount requirement.

Once again, to read more on latest FD Promotions click here to my FD Page at my blog to read my comments.



This post has been edited by Gen-X: Sep 12 2013, 11:33 AM

I have been using BR Giro for >9 months, all transfers were received on the same day if done before 12 noon. You should try it out yourself with small amount.

My early estimation was based on % not on actual dollar. I was trying to get a quick feel on the effect of dropping to 4.2%. With your calculation of 3.71% helps me to stay on with Ocbc instead of playing musical chair with Mach, tq

Too bad now already mid Sept =/

Well, it is a matter of how to make use of your time efficiently.

How to play FD musical chair if you do not use your time efficiently ??

This post has been edited by bbgoat: Sep 12 2013, 02:33 PM

Bro, read carefully, I said up to....

Like I have been mentioning for months in my my Fixed Deposit Page, for OCBC Combo Plan (now Mega Save), timing is crucial. Now, if you go deposit sometime middle of the month, the effective interest comes out to be less than 3.6% with the 4.2% 3 months FD Promo. Go deposit last day of the month and withdraw last day of the month after 3 months, the effective interest comes out to be 3.467% (see see the number, who will want to go deposit there? hahaha).

Seriously, I stopped going for OCBC Combo Plan after I ran out of names to open PB to qualify for the 5% 3 Months FD for half AUM (at that time also no need to purchase investment products) and get effective interest rate close to 4.5%. Moreover, not to say I got funds coming in every 1st or 2nd of the month to optimize the Combo Plan returns. Now with 4.2% and getting effective rates close or lower than Affin's 3.6% 12 Month FD rate, when you go sign up for Mega Save after the first week of the month, what is the point? For me any promo earning effective interest rate less than 3.6% is not worth the time.

The smart ones of course have opted to go with BR... example BoomChaCha going with straight forward 3.65% 3 months with BR, no need to waste time calculating effective interest rate and making monthly deposit