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HAHA..This really make the joke of my day! I think I should work & the bank personnel would also be super activ fast to settle your money. You have done it before?

Do it online, 2 sec to withdraw

This post has been edited by jason_168: Nov 28 2014, 01:10 AM

guys, got some simple question..
Assume you got bank 1 bank 2..
if you wanna make FD, and u require to open acc as you dont have the bank 3..
u wanna open in bank 3 as the fd is better promo..
so you guys withdraw those cash and open in another bank? or any other way which is better?

as for me,...I would consider NOT just the returns of FD from bank 3.
I would also consider the extra amount of value I get from bank 3 and the "cost" to be incurred if I have to goto bank 3.
example......is the 0.x% of the extra interest worth the time, petrol cost and the hazzle of going to bank 3?.

PBB can do online to withdraw?

I pernah did online to bank in deposit only...

If it was placed online, then can uplift online.

Otherwise, if placed over the counter, I don't think you can uplift online.

RHB got this Commodity Murabahah Islamic FD thingy......any gotcha I should know about?

For bank rakyat FD, is it able to place it through bank rakyat online banking like maybank & cimb?

Because it would be convenient for me as can directly transfer fund from others bank to bank rakyat and place the FD at home. Haha.

Petrol won't cost much.. I its worth, you bring cash to do the fd? Cause I see only mbb give online fd with 3.15%

Uplift mean cancel the fd?

Uplift == withdraw == cancel

Placement via over the counter

Hi all,

Could someone help explain why Affin 4.38% 24 months is the best FD rate in the market now, when OCBC can give 4.5%?

Let's talk based on the scenario where a person has RM10K - RM20K and doesn't plan to take out for a few years.

Affin


OCBC


Quite confused now. Or did I understand the OCBC incorrectly?

If I understand correctly, let say you want to put RM10k into this FD 4.5% promo, you must put RM10k into OCBC savings account first. So effective rate is much lower because total fund is RM20k but only RM10k enjoy 4.5% and the FD is for 3 months only.

This post has been edited by celaw: Nov 29 2014, 07:39 PM

For few years? Go for Affin 4.38%. True interest rate.
OCBC 4.5% is a fake interest rate. Intentionally advertised the best rate to confuse ppl who are not savvy in banking deposit and don't understand the small prints.

One is apple (24 months) and the other is orange (3 months), after 3 months what will you get?

I just read the OCBC's terms and conditions, you have to put in 50/50 ratio for FD and CASA respectively.

For example, if you put RM 10K for FD to get 4.5%; then you need to put another RM 10K to CASA (select Smart Savers
to get max 3.05%).

So, 4.5% + 3.05% = 7.55% /2 = 3.775% max return for 3 months tenure.

Anyway, this promo has just ended.
Hopefully we can hear more exciting FD promo from OCBC next week...

Aaah...understand. Thanks a lot for the clear explanation!

Other to consider;

Is the short term worth the effort of going around every few months? The effort and time might not worth the hassle. unless it is a huge sum then might be a different story.

I would say if you can leave it aside for few years, go for long term.

Good advice sir

One more perspective, if I may, is your view on interest rates. IF you think rates gonna go down in the near future, lock in long term. If you think gonna go up, go short term.

Then again depends on your personality too. It's like being stuck in a jam on the road, some people like to change lanes often, some stick to one lane ... who will be faster end of the day?

Fortunately there is another option - the step-ups. Eg 6+6mths means you can pull out & switch at end of 1st 6mths if a better rate comes along then. if it doesn't, you just roll over into the 2nd 6 mths. If you check post #2 you'll find quite a few step-up combos

hope that helps