Yes, same day and paper confirming FD placement issued on the spot.

To ALL:

I just published another article titled A Little Bit Of This and A Little Bit Of That Vol.1 Chapter VI where one of the subject is about me going overseas and as such can't use funds from the maturing FD to go place with another FD Promo. And another subject specifically targeted to those of you who have attained "Chiak Bui Liow" status.

gsc has said that I can still chase after FD Promo by giving instruction to the bank to have the mature FD Principal plus interest to be credited into my current account. And at the same time, I write a cheque to the other bank instructing them to place the fund into a FD Promo on a specific date. But, unfortunately, I don't have a current account with the bank my FD which is maturing.

Anyway, in my article, I mentioned that from now on I shall instruct all my new FDs to be auto renewed for one month instead of previously for same tenure.

Thanks Captain.

If FD maturity date falls on weekend , do auto renewal date starts on weekend ?If there is no intention of renewing it albeit to board rate, but there is prevailing auto renewal instruction, so upliftment on the following workday, will it be considered early upliftment of the new period ?

hi Magika,
this is my first posting here but has been following the last few months.
like to share my experience regarding FD.
Last friday my FD matured with BR, They dont issue banker cheque.
so transfer my money to mbb about 11am.
went to rhb about 3pm, issue a personal cheque to them, they accepted it.
the new fd starts from friday itself.

Thanks.
Just got rusty as hardly move my funds for some time. I think we do have the same configuration ie deposit with BR, Current Account with MBB, new placement with RHB. However info came too late, as already instruct BR to prepare Cash so must be prepared to carry out whatever I have already decided. I dont like sudden changed of plans, very superstitious.

parmin welcome to the club


This post has been edited by magika: Nov 12 2014, 02:56 PM

thank you Magika. Learn a lot from this forum.
thanks to all the sifus.
will try to contribute

Oops, just remember why I dont want use it this way. IBG after 9.31am receipient bank supposed to received by 5.45pm. This means when we issued cheque for FD placement, our Current Account does not actually have the funds yet. We are assuming that there is no problem in the IBG process. Normally there would not be any problems, but thats not how i operate. I dont assume anything. Thanks anyway.

This post has been edited by magika: Nov 12 2014, 04:07 PM

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Today just uplift one FD from BR, they still charge me RM2 for IBG. But continue another FD there for 1 year at 4.1% with monthly interest payment.

This is one of the reason I am not happy with BR. Unless you have OD to cover the cheque, you risk getting into problem by issuing cheque for another FD (on the same day). Yes, we can go early as BR opens by 9am. But normally I don't go so early to banks. Prefer to get banker's cheque and then immediately go to another bank to place FD. Now for those that I uplift from BR, have to wait until next day to place another FD.

This post has been edited by bbgoat: Nov 12 2014, 04:46 PM

Fuiyo, 3.85% for 6 months, chance to win emas lagi

Hmm, so with BR no longer issuing banker's cheque, we need to be able to tell the counter the account no for IBG. I better remember this else I'll go crazy if I need to go to BR again to settle. Even if we can pay for the banker's cheque, they are not going to issue it?

They said BNM instruction to them that they cannot issue banker's cheque. Not issue of us paying for it. The charge for IBG is RM2, close to banker's cheque fee for most banks I think.

So now you are auto-renewing your FD for a month. After u are back from Australia will then do the FD musical chair thingy.

Just finished reading your blog. "Chiak Pa Tan Si", interesting ! Also learn some dirty Hokkien words which in Penang never heard before. Ha ha ha !

Key phrase:
Why work to make other people rich
Spending children's inheritance



This post has been edited by bbgoat: Nov 12 2014, 06:28 PM

Just received a letter from BR.. They stated BR also having upfront interest payment for FD, Min 5k now.


Attached thumbnail(s)

Ah Sir.. .. Why this time you did not negotiate with BR to get a better rate..?

I think you need to request BR to pay you up-front interest (instead of monthly interest) as posted by leo_kiatez..

Thanks for the info..
So this should be called "The Return of BR"...

This time BR comes back to hit the FD market with a tornado..
Just offers up-front interest strategy then "Gao Dim".. Really steady..!!

This post has been edited by BoomChaCha: Nov 12 2014, 08:00 PM

I did receive the info but did not realise its meant to be be upfront interest. BR communication with its branches is so bad that none of the branches attempt to promote it. However this time not really interested as will be moving my funds all out provided there still is competitive promo. Thanks

Latest offer almost equivalent to 4.16%.

bbgoat I remember last time BR did not charge me for IBG.
Over the counter supposed to be RM0.30 only, free for senior citizen and OKU.

This post has been edited by magika: Nov 12 2014, 08:07 PM

Ah Boom Sir, no more nego rate as I mentioned about a month ago. Since they changed to 12 mth 4.1% they said no more nego rate. But I did not talk to their BM on this. Now that branch total change of personnel, not likely previously, the ABM & BM are more approachable.

Is that only applicable to new FD and not for auto renewed FD ? My FD was auto renewed and today asked them to print me a new FD cert 4 days after maturity date. Remember that was the one that pay interest on 1st of the month ?

my branch told me about this end-oct but they said upfront interest only for placements up to 6 mths. longer tenure no upfront pls tell me they are bull shitting me

This post has been edited by okuribito: Nov 12 2014, 08:31 PM

Initially I thought I was cheated by lenglui. Paid her RM2 by cash. Then checked the IBG sheet, clearly printed RM2 added in there.

So, it may yet be another inconsistency in BR operation.

magika when you go there again, can you ask them about nego rate ? You are our savior/fighter for our rights !

This post has been edited by bbgoat: Nov 12 2014, 08:16 PM

IBG charges are stated on their website, print how much also nevermind as you rich tauge

I just went this morning and the ABM said no more nego rate, nevermind also as not really intend to renew. As long as other banks got competive promo then ok if not go back BR. 'Where there is shade we shall sit' no need loyalty


This post has been edited by magika: Nov 12 2014, 08:26 PM

Oh boy, going to hantam someone on this. Have the IBG record, so going to ask it back from them the next time I go there.

So you also got the same answer, no more nego rate.