First ocbc placement through ringitplus. The gold coin is from Ocbc. Only 10 gold coin. Promote end of Nov.
I think it is not sold out coz I can place FD just now. The gift is from Ringgitplus.

I emailed to ringgitplus and the reply (see below) said it is compounded daily on interest. But Ocbc said it s not. I think Ringgitplus is playing a trick on wording. Interest compounded daily but paid out at maturity date. Since the interest will be paid on maturity, from now till maturity no interest is earn and hence nothing is being compounded?


The reply from Ringgitplus, Diana...

Thank you for reaching out to us.

Yes, your interest earnings will be compounded daily, but will only be paid out at the date of maturity.

If you have any more questions please just reply to this email, we'd love to help you.

Thank you.


--
Diana from RinggitPlus
can@ringgitplus.com

Wonder how does Ringgitplus makes money by burning money first?

The MedKlinn Asens Air Sterilizer's N.P is rm599 & Offers at rm389. If qualifies for it, rm10000 FD give returns of rm410+rm389, almost 8%.

http://www.medklinnstore.com/product_info_901003-100001.htm

This post has been edited by MGM: Nov 20 2014, 02:22 PM

Maybe the response was so good that the OCBC branches couldn't cope? =/ Probably underestimated how good the promo actually was lolz.

My FD due at BR on 16 Nov (Sunday) and I withdrew on 17 Nov. Asked about the 1 day interest and the bank staff said no extra interest. I thought there is as per BNM rule. Or has BNM changed the rule now?

If it is a few cents or dollars, I don't mind. But this is more than that which I do mind.

just placed my 9m FD promo with RHB, their efficiency needs improvement
but its still a very good deal

noted they have same promo for islamic too, the difference is in case you need to withdraw it pre-mature then you get more back (75%) from islamic as compared to conventional (50%0

the flyers for both





now that i have placed four fds with almost quarterly maturity..next is to look for some 3mths promo for floating fund

Just received above sms.

Not all branch have the same rules. Usually when placing at banks, efficient counter officers will adjust to next working day. Thats why its a good practice to check maturity day before depositing and also to check maturity amount. Now after maturity, banks dont adjust what can be done ?

I think the case is due to auto renewal. For the initial depositing, BR system will adjust to next working day for maturity. But after that, on auto renew, it will just go to exactly 1 year later (for yearly renewal). I kena once but as I just asked for new FD cert, so no loss (mature on Sat).

@bone, i'll bet the processing officers dun get any incentive & probably cursing why so much work suddenly

@gsc, if daily compounded eff rate will be 4.185% for the 1 year matrity

@mgm, the 410 is ocbc cost of funds (cheap la). RP probly barter with medklinn hehe discounted price 389 (& they surely still make profit) & probly get comm for loans/othe bank prods pushed

@plumber & magika, my branch tell me they no need manual intervention one wor - system clever one plumber, could it be your deposit was >12 mths, maybe 24 mths, in which case the system may not have been implemented yet when you deposited? hehe if 5 bucks, i'll also sakit hati cos can have chap fan oredi

edit - @goat, ooooh that means BR system only half clever la. thx for warning

This post has been edited by okuribito: Nov 20 2014, 04:20 PM

If my memory is OK, I thought similar thing happened to me at BR before. When I raised this, the officer just gave me the 1 day interest, cash.

Maybe not all the officers are up to date on this thing.

Yes, this FD has been auto renewed for 1 additional year. Maybe that is why no auto weekend date correction.

Hope to get "my money" soon. Ha. Will check with them on Monday, give the lady some time to check higher up.

This post has been edited by plumberly: Nov 20 2014, 04:33 PM

Must avoid 3 months FD placement today and tomorrow.

Do you notice the interest rate written on the FD cert is 4.10001. For rm10k, it works out Rm10 extra. Sorry there is an error in my calculation


This post has been edited by gsc: Nov 20 2014, 05:59 PM


Attached thumbnail(s)

Noticed that too. That is RM0.001 xtra only for 10k FD, not rm10..

This post has been edited by leo_kiatez: Nov 20 2014, 04:55 PM

I concur !

I used my calculator to check as one glance that it is impossible to be RM10.

Thanks for the calculation..4.185% eff rate. I will just take the figure as it is coz duno how to calculate.. Complex maths..

but ... but ... i think it's a good sign wor. now ppl shift gear into ultra kiasu maximise return mode, eye open big big oredi

Haha, ya..I triple check my calculator for that figure..

This post has been edited by leo_kiatez: Nov 20 2014, 05:15 PM

sorry wrong post

This post has been edited by Silver Light: Nov 20 2014, 05:48 PM

Hi,

What its the best rate for 10k 3 months FD ar?
I check with imoney, it stated RHB have a 3.78% rate. But how come I go to branch, they say dont have such promo one?

Imoney website is it never update?

公積金派息料超過6.35% (EPF dividend will probably be more than 6.35%)

http://www.chinapress.com.my/node/578665