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.

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.

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.

Went to KFH Klang branch today. Deposited some money into their 3.8% for 6 months FD promo. Friendly staffs, not many people, parking easy, very happy with their service.

You'll have to open a S/A, they have a few types of S/A. First is the basic one which only require RM20 to open the account, can't remember how much is the interest rate for this one. The other one is RM200 minimum initial deposit for 1.5% p.a. or RM1000 minimum initial deposit for 2% p.a. No minimum balance required in the account to maintain the interest rate. Placed FD for 6 months, went out do my things a while and went back to the bank after an hour to collect the receipt.

I'm pulling most of my funds out from OCBC now. Very headache with their accounts. Too confusing, too many accounts, every other week got statement come.

Just the annual interest rate only. I went for the RM1k minimum initial deposit to get 2% p.a.

Yea, I was told their previous FDs paid interest (or they call it "profit") upfront, but this 3.8% will only pay interest upon maturity and is credited into the SA.

OCBC memang lots of paperwork, very pening.
Then afterwards will call us to see if we receive the product information sheet and all that.

If it still doesn't get credited back into your account after 1-2 days then better call customer service.
When I place eFD, usually quite punctual credit into my account upon maturity date.

I would like to know as well.

From what my OCBC RM told me last time, majority of their customers will separate into a few FDs because they might want to prematurely withdraw it. Instead of say prematurely withdraw RM100k one shot, they separate it into RM50k each and just withdraw RM50k then the other RM50k can continue on. Other than that, I've no idea why not put big amount in 1 cert. Hence, would like to know as well.

4.2% you mean?

UOB can waive the 5% in CASA if you ask your RM whether they can waive for you or not.
Best offer gave to me was 3.45% if I deposit 5% in CASA or 3.4% with no 5% in CASA for 3 months term.

Still not very good rates.

Is there a maximum amount for this?

Wanted to put into Ambank for 3.55% but just realise yesterday last day. -.-

Standard Chartered FD promo ending 25th October.
3.5% for 6 months, fresh funds min 5k.

Confirmed no maximum. Just got back from Affin Bank newly open Kota Kemuning branch. Placed for 7 months for 3.88% and 20% into SA for 2.85%.

Had to open SA, deposited RM100 cash (or I think RM20 minimum if passbook) and had to apply for their debit card for the SA. Got free umbrella and pen. Very friendly staffs there. Parking easy, and hardly any customers in the bank so not much waiting time.

Yup yup. I calculate 3.7083333% effective rate.

I see. So SA interest will be credited month end, while FD interest will be credited upon maturity. That means can use the SA interest when credited.

Yup, the girl told me that the debit card has no hidden fees or charges whatsoever, I can choose to use it or just keep it aside for 5 years. Or cancel it if I want to. But it's their procedure to apply for debit card when open SA.

Say 7-9 months FD at 3.88%, SA (minimum RM100k) at 2.57% (tiered).

E.g. Total FD amount: 500k
Total to be earmarked into SA: 500k x 20% = 100k

Interest earned for FD 500k @ 3.88% (p.a.) = 19,400
Interest earned for SA 100k @ 2.85% (p.a.) = 2,850
Interest earn for SA 100k @ 2.57% (p.a. as calculated by gen-x, interest based on tiers) = 2,570
Total interest earned (p.a.) = 21,970
Effective rate (p.a.) = 21,970/600,000 = 3.66%

Edit: SA interest based on tiers.

This post has been edited by munkeyflo: Oct 17 2013, 07:49 PM

Oh if the SA interest is based on the tiers then it's way below what I calculated already.

When I asked the staff how much will the interest be for the SA, she showed me the chart and say 2.85% p.a., did not mention that it was tiered.

Maybe I should call them tomorrow to clarify.

Just called the call centre, it's based on tier.

So if it's 2.57% for the RM100k, means effective rate is actually 3.66%.

Oh well, placed edi. Now I know better.

I manage to get 2.57% as below..

First 999.99 x 0.50% = 5.00
4999.99-1000.00 = 3999.99 x 1.00% = 40.00
19999.99-5000.00 = 14999.99 x 1.90% = 285.00
99999.99-20000.00 = 79999.99 x 2.80% = 2240.00
100k-99999.96 = 0.04 x 2.85% = 0.00
Total Interest p.a.: 2570.00
2570/100000 = 0.0257 (2.57% p.a.)

Dunno calculated correct or not.

Need to have 50k in CASA then only can put additional 50k into FD for the promo rate. From their website, their CASA interest rate not that attractive. Any ideas?

Looking for other 3 months FD promo, guess UOB still the most straight forward.

I'm looking at straight forward FD for short term 3 months. UOB so far give me 3.4% without the CASA thingy for 3 months, 3.45% if with CASA thingy.
If want more complicated then OCBC combo promo is better I guess.

Yes. As long as the funds are currently not in the same bank as the FD.

No idea about the additional fresh fund to enjoy fresh fund FD promotion but if not mistaken, the renewal promotional rate is slightly less than the fresh fund promo. But it saves the hassle of moving funds in and out.

Yea, it depends very much on the teller. When I was at OCBC, my RM told me some of her customers withdraw cash andden walk to the next counter to deposit as fresh funds.

When I was at Ambank, I tried to do the same thing but was told by the teller that cannot do like that, so I had to give them another cheque.

Yea, also if it's a BIG amount, the branch manager will usually want to see you and ask you why take out money this that...