Bro, MGM did specifically mentioned "under counter". Yours must be over counter, hahaha.

Bro, I don't think so. Previously they were offering 3.85%. So, now 4% is not a surprise. Looks like it's time for me to finally go get Maybank Premier Wealth Banking Status so can jump queue at Maybank.

Tomorrow I will go to Maybank (and look under the counter ) and see if I can get hold of any piece of paper and take a photo of it.

My funds with HLB Junior FD (4.5% deposited 4 years ago) will be due very soon, was considering either UOB or Allaince but the Maybank Islamic deal is even better. However, the Branch Manager of HLB asked me to see him before I go deposit else where as he knows the Junior FD 3.95% (24 months) is not competitive. Let's see if he can offer me 4% for 1 year FD.

To ALL:
Talking about renewing FD, I tell you Citibank Australia CitiGold is really good. My RM will call me on the day my FD matures (on my Australia number and if I am in Malaysia, I will ask them to call my Malaysia number) and they will ask what I want to do with my funds. And I can even negotiate with them on the interest rates for any Term Deposit tenure and it will be more than 1% higher than what is stated in their website.

This post has been edited by Gen-X: Oct 14 2014, 12:36 AM

Bro, if you really need your funds to be liquid, split your FD. However in general, 12 months FD earns you more interest rates versus 3 months.

For example, say you have RM200K.

RM50K - 3 months. Upon maturity change it to 12 months.

RM50K - 6 Months. Upon maturity change it to 12 months.

RM50K - 9 Months. Upon maturity change it to 12 months.

RM50K - 12 Months.

After a year, you have funds maturing every 3 months. The sum needs to be substantial or else wasting time going to the bank.

Another method as many have mentioned before is split the FD in to several placements. I.e. Split the RM200K into 10 certs @ RM20K/each. So if we need funds out of the blue, we can uplift a cert or two and the rest will still earn us higher interest rate. We had to split our FD certs many years ago when there was withholding tax for FD above RM100K.

Yes, if the Principal Sum is substantial, upfront dividend is very good as can use the dividend to place another FD.

Yes, that day you went to MBB using your Chauffeur's Kancil and park in the Private Banking designated parking lot because your Bentley Continental GT was being serviced

This post has been edited by Gen-X: Oct 14 2014, 09:23 AM

Bro, no need be millionaire (technically it means net worth of USD1M minimum), as long got RM300K, can recycle over and over again to get PB status, like in my case, hahaha.

Banks to avoid getting PB status if one only has RM300K to recycle (playing FD Promotion musical chair) are HSBC and SCB because they will impose penalty fees once your AUM falls below the required minimum amount.

Banks like HLB, OCBC, RHB, UOB and Alliance bank no need to maintain minimum AUM but yet your PB status remain, i.e. no penalty fees. For example, I have less than RM30K deposited with RHB and Alliance banks but because I have PB status, my credit cards (RHB Plat, HLB Plat, UOB Plat and Alliance Visa Infinite) are FREE FOR LIFE and I get to jump Q at any RHB branch by flashing my PB Debit card. Click here to read my article Privilege Premier Priority Banking published many years ago at my Ringgit Wise Fool blog. Also click here to my article My Bragging Rights and My Credit Cards 2014 where I mentioned briefly how each of my credit cards benefit me.

As for SCB, you do get their Visa Infinite credit card for FREE but it is really useless as their redemption program is ridiculous. However the SCB Visa Infinite does come with a Priority Pass Membership card but now only limits to 2 FREE entries per year to airport lounges worldwide. If you ask me, don't need SCB PB if only want to enjoy their promo rate because hassle when want to close PB status if AUM falls below the required amount.

kinabalu - I have yet to go to Maybank but I called them and was told some of the FD promos are ending today. Will update all once I go to MBB, maybe later after 3pm.

bbgoat - good to know that the 4% also restarted last week and yes need funds from the "other targeted" banks being attack. If this is the case, I have to go deposit in my RHB current account and loose at least 3-4 days interest (weekend) Side note - Bro, I used to be chauffeured around in luxury car(s) but had to return the car after I fired my boss. Now only drive "aunty type" Jap car

Also, my HLB contact told me HQ having meeting today on FD rates - so check HLB rates too if you are going to deposit your funds in FD in the immediate future.

This post has been edited by Gen-X: Oct 14 2014, 02:02 PM

I just came back from a MBB branch instead of Premier Wealth Centre or Premier Wealth Lounge (I got no idea what is the diff between PWC and PWL), and too bad did not manage to catch your earlier reply to my post.

Asked the MBB staff at reception counter and was shown the FD promos reported here. When I asked her about 4% Islamic Upfront, she had no idea and referred me to an Officer. When I saw the Officer, I immediately asked about 4% Islamic Term Deposit. She asked me how I knew about it, I said from friend. She then asked me I'm depositing cash (I was dressed like a VCD seller - wearing T-Shirt, slippers and having a sling bag, hahahaha) or funds from which bank? I said any bank also can (as if), then she said how about CIMB, aiyah, that bank I have no account , hahaha. So, I said I have RHB, she then only disclose that there is indeed a 4% upfront Islamic Term Deposit for funds from RHB, CIMB and MBSB.

Anyway, I asked the Officer how the 4% works. She said the dividend will be credited into CASA immediately. I then asked what if my cheque have yet to be cleared (I was under the impression that I can use my Personal RHB Cheque but did not confirm if this was possible), she said she will hold the cert for 2 days (which means she is aware I 'm using Personal Cheque because if I were to give her RHB Banker's Cheque, sure okay ma).

Now, Bro, like I said, I should have read your post earlier about the RHB thingy. Now have to go reconfirm if my personal RHB cheque can or not. I guess maybe I will go to MBB Premier Wealth Lounge Centre (PWL) tomorrow and check it out because the branch I went to said no penalty fees if AUM falls below required amount. And based on what you said, I will also take my RHB PB Cheque Book to show proof I have RHB account and see using my HLB Personal Cheque can or not. Well, the plus side is now I have something to do for tomorrow

As for CIMB PB, never bothered to look into it as no attractive FD Promo from them. But if RHB and CIMB merge, I wonder if I will then be required to maintain minimum AUM.
Oh, HLB must maintain RM50K, was not aware of that. Only reason why I applied for HLB PB was to get their PB ATM Card so that I can sign up for an online account to activate my children's Debit Card for Online Transaction and same time flash it at any HLB branch to jump Q.

Once again, thank you bbgoat for wanting to catch me and share with me the valuable info

And on behalf of all here who are going to enjoy "under the counter" 4% upfront from MBB, a BIG thank you to MGM.

zenquix - my report above may or may not be useful to you.

This post has been edited by Gen-X: Oct 14 2014, 05:13 PM

Well, AmBank usually have competitive FD Promos. And the Enrich Miles redemption is also pretty good (for overseas transaction as earn 5X points)

If you ever want another card for airport lounge, I suggest you look into Alliance Bank Privilege Banking because you will be entitled to a FREE FOR LIFE Visa Infinite which comes with Priority Pass Membership Card that grants UNLIMITED entries without you needing to spend a sen anywhere on earth. And you are also entitled to their Platinum card FREE FOR LIFE too which grants you UNLIMITED access to KLIA PPL, get the MasterCard. I would not advise anyone to use the Alliance Bank Visa credit cards overseas because their conversion rate is freaking high. If got time to waste, click here to read my article Visa Infinite - UOB vs Maybank vs Alliance Bank and Best Credit Card for Overseas Transactions.



munkeyflo - call your UOB RM next time you need transport to UOB.



kinabalu, like magika said, any FD sure can uplift; but if you do so before the maturity date, then like BoomChaCha pointed out, you will be imposed penalty.

hahahahaha, you got a point in your last sentence.

This post has been edited by Gen-X: Oct 14 2014, 08:08 PM

Usually, you will only have one FD Account Number with a bank. But everytime you place a new FD, you will get a new Receipt Number.

As for HLB, you may have been assigned a new Account Number because they upgraded their system (last upgrade was when they merged with EON).

One of my HLB savings book (very old book which I hardly use) has 3 Accounts Number (2 updated with handwriting) and sometimes the teller also blur.

This post has been edited by Gen-X: Oct 14 2014, 08:14 PM

Aiyah, if that is the case, solution so easy, ask your parent to only place new FDs at banks that have same account number only (e.g. ABB, UOB and HLB).

Anyway, the lawyer should be able to advise your parents and draft the will accordingly to your parents instructions.

Yah, join account easiest but better not inform bank the other KO dy. Quietly and immediately go uplift. Only set back of anyone can sign is that any of the signatory can also quietly go uplift the FD without the other party prior knowledge especially for Statement Based Accounts.

But it still save you the hassle to find parking spot

This post has been edited by Gen-X: Oct 14 2014, 09:48 PM

Yes, for Statement Base by next month will know if other party made any withdrawal. But like I said - without prior knowledge and only need to bring NRIC. By the time the other party receive the statement too late.

As for the cert, yeah, can always report as lost and get a new one but need to do some work (hassle) and may be illegal (false report). And the other party only finds out when he goes to the bank when FD matures. But then the party holding the cert can build a case against the other party; for statement base nothing can be done.

I hate the Statement Base Accounts, every month I get stack of papers. Previously, UOB PB will sent me a summary of all my accounts in a single letter. Now, I get more than 10 different statements (even if the a particular FD account got RM0, and they will also sent a letter if any FD is uplifted to be renewed at promo rate). Add that to my OCBC statements (DCI RM0 also get statement) plus my other bank current account statements, I have to waste a lot of time opening the letters plus filing them up.

And you guys know lah I have many credit cards. So many statements to read for a half blind man is a torture you know.

This post has been edited by Gen-X: Oct 14 2014, 11:00 PM

I would think so. And what funds you talking about bro? You are in debt, no positive funds.

Do what you are doing now (if you cannot get a better investment deal) to get to positive territory soonest possible.

This post has been edited by Gen-X: Oct 14 2014, 11:08 PM

Bro, from what I gather above, yah does not make sense to go with FD.

By the way,

1. If you settle the loan now got no savings at all? Sure got interest savings on the outstanding loan amount.
2. your loan will be interest FREE? Or is it the interest earned in your CA will offset interest imposed? Thus you earning nothing.

If you ask me, settle the loan and be debt free and upon settling the loan, your net worth is already in positive territory, i.e. worth of the property and no liabilities. And more importantly since you no more debts, you no longer working for the bank.

I am kind of blur on loans maybe other can be of assistance especially our financial guru and Mod cherroy or maybe you should go ask those in Flexi Loan Thread.

Noted you guys posted at 11+am yesterday, I have yet to even leave the house. Boy, you guys really impatient and expect me to report immediately, like me ex-boss. I more like kuli than captain here

Anyway, I did go to a branch that has a Premier Wealth Relationship Manager and I tell you the experience was actually very good. I am going to write about it in my upcoming article. Now I have two items to write about. In the meantime, here's a brief report:

1. At MBB reception counter, told the lady I wanted to enquire about Premier Wealth Banking and FD.
2. Was referred to a Relationship Manager.
3. First thing RM asked was my NRIC.
4. She then key in my NRIC No. into the system and was happy to note what was stated in there. And she immediately inform me that she was inviting me to be a MBB Premier Wealth Customer and will get HQ to sent me a card where I'll entitled to all the privileges of a Premier Wealth Customer. Now, I have not deposited a single sen yet. Freaking good service I must say. I will elaborate this later in my upcoming article.
5. I then proceeded to the matter of interest to me, i.e. FD. She showed me a FD promo which was very attractive but then said she has to check if quota is finished!
6. I then asked her about the 4% upfront FD targeted to attack the 3 banks. I told her I have RHB account and like I said earlier, I took my RHB PB cheque book as proof. I then asked if I can use my HLB Personal Cheque to place the FD. She said that should be ok but requested that I allow her to photocopy the slip in front of my cheque book which showed my name and account number (this slip is supposed to be teared off but I never bothered to do so).
7. She then took the slip and my IC and told me to wait.
8. She return and presented me several FD options and started to brief me. She said that for the 4% Upfront, I can withdraw the dividend credited to my Savings Account and place into another FD immediately (like what bbgoat reported earlier).
9. I did not deposit a sen yesterday and I even said that I may stick with HLB if they can offer me good rates but yet she spent close to an hour chit chatting with me. We talked about numerous deposit products where I actually learned some useful stuff and she offered to assist me in getting increase for my MBB credit card Credit Limit (which is tough since I don't have any salary slips). I tell you, this sweet MBB RM is better than all my other RMs from other banks who seem to always be in a rush.

To reiterate - my soon to be RM said I can withdraw the dividend deposited into CASA immediately and use it to place another FD on the spot. bbgoat also mentioned this before.

I have the same idea Bro if I am to go with MBB.

Bro, 3 months 6.9% sounds great but I confuse, must buy the Prudential Insurance or not?

This post has been edited by Gen-X: Oct 16 2014, 03:00 AM

When I updated my my Fixed Deposit Page, where I would comment on latest FD Promos, on 11th October 2014 to inform you guys of the latest FD promotions, I mentioned that Hong Leong Bank knows that their FD interest rates are not competitive.

Well, HLB fans, I got good news for you if you can open a Junior Fixed Deposit Account which credit interest monthly into the Kid's Savings Account. You can either click the link above to my Fixed Deposit Page or click here to my Facebook Page to see the latest revised up interest rates for HLB Junior FD where HLB have yet to even revised in their website.

However, UOB and MBB under the counter FD promo for 1 year still better.

This post has been edited by Gen-X: Oct 16 2014, 01:14 PM

Bro, Statement Based Accounts do not issue any cert for FD but they do give you a piece of useless paper for your records when you place a FD.

How come you only get Statements from UOB every 3 months? I get them every month!

Firstly, UOB and OCBC do not issue any certs for FD because they are Statement Based. The paper that is issued to you when you place your FD is only to notify you that UOB did indeed receive a FD placement and apart from this, it is useless.

Whenever I want to place or withdraw FD from UOB, I don't need to bring any documents. All I need to do is give them my NRIC and their system will show all my FDs account info, and from there I can tell them what I want to do with each account.


As for the second question safe or not, well, if you had read the last few pages of this thread you would have got some idea.

If your FD is in your name only, then it is very safe as only you can go uplift/withdraw the FD. Nowadays most banks will need our NRIC and our thumb print for any type of withdrawals. However, if joint account and anyone can sign, then there is always a risk that any of the signatories can go uplift withdraw the FD without prior knowledge of the other party.

I did mention earlier that Statement Based FD is not secured for joint accounts (where anyone can sign) as anyone can go withdraw/uplift the FD anytime without prior knowledge of the other party. And by the time the other party finds out, it be to late and they can do nothing.

Below are posts you would have read if you had taken the time to read them.


So, in conclusion, do not sign up for joint account where anyone can sign if you don't trust him/her or not willing to to "give" him/her the money sooner than planned.

This post has been edited by Gen-X: Oct 16 2014, 04:29 PM

Bro, click here to my FIXED DEPOSIT Page at my blog and see Alliance Bank FD Promos.



This post has been edited by Gen-X: Oct 19 2014, 09:14 AM

Noted and thanks. Will update Post#1.

nomen and royalz, like I promised earlier, I will show you guys how to earn extra couple thousand Ringgit in 3 months by depositing with a particular bank versus all the 3 months FD posted in Post#1 and 2. However, I miscalculated earlier when I mentioned that one only needed RM300K to earn more RM2K in interest. I only work out the effective rate while writing the article and to earn extra RM2K, need RM1M! hahahaha

And this latest article of mine is dedicated to MGM, bbgoat and kinabalu for their effort in assisting me to earn extra pocket money. I also extended invitation to all FD Fans to come join this thread and make it more exciting plus longer too, hahaha.

The article was written with the intention to benefit those who are new to Fixed Deposit Promotions AND at the same time to benefit serious FD Fans where I shared discrete FD Promos to earn you guys extra pocket money.

Without further ado, clcik here to start reading my article titled Get More FREE Money With The Right Fixed Deposit Promotions.

I also not sure how the auto second tier works, hahaha. Once, at Affin. I overheard a man complaining to the Service Manager (siting outside and no room) about why his FD was auto renewed at a lower rate. I then busy body go ask the Service Manager and he told me it was because he had more than RM1M with FD. So, I asked, what if I my total deposit go above RM1M, his replied was go see him before placing any more FD. The moral of this story is don't assume your FD will be auto renewed at board rate if you have RM1M above, i.e. go to the bank and get a new cert to reconfirm the interest rate upon maturity.

Now, if you really have RM1M and there is no FD Promo, go see the Bank Manager or Service Manager and request for higher rate. He/she will then seek HQ approval and if get bonus lah.

The beauty part of Fixed Deposit is the interest rate is "fixed" for the tenure you have placed. So, if you have deposited with Affin for 12 months earlier at 3.6% earlier, you will earn 3.6% irregardless if OPR go up or down. But is you have instructed auto renew, and say it is maturing next week, the FD will be renewed at board rate of 3.7%. But Bro, if your placement was more than RM1M, make sure you got to the bank on maturity date and double confirm you not getting second tier rate

This post has been edited by Gen-X: Oct 17 2014, 04:07 PM

Your Name!!!

Yes, you are absolutely correct

Actually, with a cheque, you can instruct the bank what you want to do with it.

For example you have a RM28,000 cheque payable to yourself (i.e. you name as per NRIC) and you want to enjoy UOB's 3 and 12 months FD promos.

At UOB, you can instruct the teller that with the RM28K cheque on hand, you want to place 3 months FD amounting to RM10K and the balance RM18K with 12 months FD.