Just normal savings account which most will have it. Unless you dont have savings acc with UOB la. I guess few hundred to open is more than enough.

I am.

Walked to UOB today with the required certified documents they requested on Friday and was told it would take until Monday 4th at least to get my account approved by another department, by which time the FD promotion would be over and revert to the board rate of 3.1%

In the end just went to CIMB @ 3.15%

Hi, just want to ask anyone about FD upliftment about BSN (Bank Simpanan National)

I open the BSN FD at Malacca there, now currently at Sarawak. Is it possible to withdraw FD at BSN sarawak branches there?

I asked their staff already (At Malacca), they say can withdraw my FD anytime, anywhere. Meaning that can withdraw my FD at Sarawak.

So, I just want to double confirm, is it can withdraw my FD at Sarawak whenever I previously open my FD at Malacca?

This is because I feel their BSN customer service seems like don't have any communication each other and even branches. BSN Customer service (By Call) say can, BSN Malacca branches say can, just afraid BSN Sarawak branches there cannot~

list of BSN branches contacts in Sarawak...call them? remember to get the name of the respondent that says ok...
call a few branches to confirm!
http://www.mybsn.com.my/mybsnweb/branch_sarawak.do

This post has been edited by yklooi: Oct 28 2013, 04:49 PM

Sorry to hear about the run-about with your FD.

Why don't you consider Bank Rakyat or Affin Bank? They have higher rates. Being a foreigner, be prepared for the delay in getting your account in place.

Cheerio.

As I don't drive I stick to banks which are within walking distance

I've managed to open accounts same day (ie within an hour) at Maybank, HSBC and today CIMB without issues - only UOB so far that said it would take up to a week

I wonder if need to place fix deposit of RM200k - RM300k for a year. Which bank will offer the best? It's under individual malaysian, no business or corporate.

(ask for my friend)

Anyone know any interest given for pre-mature withdrawal (1 month plus) on UOB FD... Overlooked the matured date and was given only 3.1%..plan to withdrawal and redeposit at 3.6%

As far as I knew, correct me if I am wrong. No interest is given for premature withdrawal of FD that run below 3 months.

To compared, lose 1 month plus of interest to gain extra 0.4%
Assume 1 month premature withdrawing.

Place in Jan, withdraw at Feb, lose 1 month interest due to premature withdrawing.
Then at Feb, place 3.5% from Feb to Dec, you earn RM350/11 = Rm31.8

Compared to 3.1% run from Jan to Dec = Rm310

So after a month plus, I do not think it worth to premature withdraw if no interest is given for the premature withdrawing.

My personal experience, yes can withdraw FD from different BSN branch. Just take note that if the branch is located in small town area, you'll probably face difficulty to withdraw large amount of money. Not sure about banker's cheque tho.

hi sifu. i m very noob one wan ask all sifus here one question. i planned to apply either the mbb or cimb internet banking fd. so i wanted to ask before the maturity of my first placement, when can i place extra placement? is it possible i add the placement before maturity (i know the interest i gained is based on the initial placement)

For CIMB eFD, nope. You can't place extra money in your existing FD until the maturity date. You can add money only a day after the maturity date.

Why do you want to add extra money in your existing eFD? You can always open a new eFD account & earn interest instead of losing it

I never tried eFD but logically you should be able to place additional fund to your eFD account by way of separate placement or receipt with different maturity date.
The first placement will remain as it is.

guys, if between 1 month (3.05%) and 6 months (3.25%)
isnt it better to just go for the 1 month rate cause if they pay the interest every month, and its added back to the initial deposit, they will have to pay me more right?
Or do they also calculate the 6 months rate and pay off the interest on a monthly basis?

This post has been edited by idoblu: Oct 29 2013, 09:20 AM

3.25% has more in final day.
Don't need to count also can confirm.

if i take a 6 months FD, they only calculate and add in interest payment at maturity date right?
if difference also not much I think compare with compounded monthly

Only under specific promo or certain bank offer such service whereby they credit the monthly interest into your saving accounts.

Of course always better to get monthly but i prioritize the interest % more than this as it is not the deal breaker for me.

This post has been edited by bearbear: Oct 29 2013, 10:51 AM

i am not good at this excel thing
i think this looks ok...confirm before use...if ok....you do the calculation and compare. ok?




Attached thumbnail(s)

Thanks.
In the end I get a bit more for 6 months. Just a bit.
With 1 month, I don't have to wait 6 months to withdraw
Hmmm....

premature withdrawal may not get the interest...i think