Viewing online is an assurance. After I placed FD, usually like to check online also. Safety, Security, Satisfaction. 3 S's

Actually getting banker's cheque is better as one can go to another bank immediately to place FD. Some of us not happy with BR as starting this year they are not giving out cheque anymore and have to do IBG.

This post has been edited by bbgoat: Oct 28 2014, 02:16 PM

But it is very unlikely u can get a better rate than "6month 4.28% FD" after the first 6 months.

I dont think so because you have only a Uob FD account number and May bank portal does not has access to Uob banking system on period of placement, maturity decision interest add on etc

Thank you

wow ... really ka? does that mean they prefer customer to bring cash? appreciate if you can share source of this info

http://www.bnm.gov.my/index.php?ch=en_pres...ess_all&ac=2983

IBG mean go to counter and request to transfer fund to other bank for FD right? I checked that IBG in online banking like M2U doesnt have option to transfer fund to FD account..

Ah Boom, noticed you have updated post 2 super fast yesterday. Keeping mum for days already. Anything to share on your FD strategy esp. that BNM meeting next week ?

This post has been edited by bbgoat: Oct 28 2014, 05:29 PM

tq ... I thought it was some other add'l charge banks will impose if you brought your money in the form of a cheque More worrying is the RM5 some banks charge for banker's cheque BC if you were to withdraw using BC. Let's say you put 10k for 3 mths, that RM5 will make a diff of 0.2% pa return.

From the BNM press release:
This 10 sen looks like it applies only if you do the IBG from your phone/PC with internet banking, right? Do any of the banks allow us to uplift & trsfr out our FD with internet banking? Or do we have to at least open a savings acct with internet banking facility?

On this other thread on IBG (courtesy of GenX's idea), diff banks seem to charge diff IBG fees. Are these higher charges applicable for IBG over the counter? haha so far I have not been playing musical chairs - hence not much experience

How soon did the banks react ie revise their rates in prev OPR hikes? I got maturity just before the mtg - so I wonder if I should renew for 3mths or longer. Or perhaps go for one of the step-ups

HLB Junior FD - 4.15% for 24 Months Tenure

I am very disappointed. I put some money into my Children's FD in HLB on the 17th of Oct but was given the old rate of 3.95% for 2 years instead of the new promotion 4.15% for 2 years.

Should I stop the FD that I've just put in. Take it out for a few days and then re-deposit it again with top up of few k?

Since only 2 weeks time. My opinion is just go for the new promo.

i thought the promo image say revised wef 16/10/2014? This image taken from the 1st post

Here is the formula for you to find out worth or not to uplift 3.95% and re-deposit into 4.15%. You sendiri kira.
(4.15 x 730) / (730 + no of days without interest)= x%
Then compare x% with 3.95%.

For 12 mth FD, simply replace 730 with 365.

This formula can also be used to calculate you actual yield if you park your fund day after day in low yield CASA waiting for higher promotional FD rate to announce.

This post has been edited by aeiou228: Oct 28 2014, 06:45 PM

hehehe IMHO you should factor in fixed transaction costs (including foregone interest) AND the size of the deposit

@sitting duck, I think the branch saw your nickname & treat u as a lulu sitting duck ... here take this pdf from HLB website & go hantam the branch manager kaw-kaw for your 4.15%

Well, if you are a follower of my Facebook Page, you would have been notified of the HLB Junior FD Revision I posted there on 16 Oct 2014, and would have asked the bank staff to check on 17th October. I also did update the HLB Promo in Post#1 on 16th October. Next time before you go place any FD, check out Post#1 and ALSO BoomChaCha's Post#2 to see latest FD Promos reported here AND check my Fixed Deposit Page to see any discrepancies and sometimes I would include other FD Promos not mentioned here.

And the image posted in Post#1 was edited (photoshopped) by me on 16 Oct showing 4.15% before HLB even revised their image in their website.

Anyway. go to the HLB branch and ask to talk to the Service Manager (he should be behind the tellers and full time at the branch except going out for lunch) and print out the T&C okuribito gave the link where it clearly states 4.15% is Effective 16 October 2014. He can reissue you a new cert/statement backdated to the 17th October 2014. Imperattive you do it quick so that they can update system and hopefully the interest calculated is based on 4.15% before it is credited into your Junior Savings Account end of this month.


Congratulations!!! You are now officially a member of the Musical Chair FD Gamer Club

This post has been edited by Gen-X: Oct 28 2014, 07:49 PM

I'm not sure what do you mean by fixed transaction costs. Can you add those suggested by you into the equation and let us see your improved formula ?
By the way, care to explain why size of deposit got to do with effective yield?

Say you go and withdraw your 3.95% Fd and put new FD at 4.15% tomorrow, you forego 12days of interest on your original FD to get the new rate 4.15%. Your new Fd starts from 29.10.14.

if your amount deposited is big, the extra 0.2% over 24 months can be significant.
if your amount is small eg. RM10,000.00, the extra you get switching from 3.95% to 4.15% is only an additional RM27.00 over the whole 24 months period. Worth the trouble to go withdraw and redeposit?

If deposit RM100k, you get extra RM270, if 1 Million you get extra RM2,700.

So yes, the amount deposited does matter.
The bigger the amount deposited, the more you must go get the higher FD rate.

I would also add the tenure of FD also matters.
The longer the tenure, the more you must go for higher rate.

In the above example if both the 2 Fds are only for 6 months duration, forget about it! The the extra 0.2% cannot even cover your 12 days interest that you sacrificed.

So i wont get excited with any promo offering slightly higher rate but only for short tenure 3 - 6 months.

@aeiou .. no need terror formula. keep it simple logic & simple primary school math also can oredi

ps: also go read earlier posts starting from this one

This post has been edited by okuribito: Oct 28 2014, 08:32 PM

Eh ? 180 degree U turn pulak? You post#1296 said want to factor in this and that, now want to keep it simple pulak ?
For your info, size of deposit has no relation whatsoever to calculation of FD effective yield.