care to share how did you do the calculation?

Depends on how you look at it. A quick way to decide is RHB step up effective rate is about 4.06%. So comparing with 4.38% & 4.5% rate, then you decide. But of course for longer terms. Also if the extra amt "earned" is worth the effort.

This post has been edited by bbgoat: Dec 29 2014, 09:17 AM

Deleted. Sorry, hit Reply instead of Edit button.

This post has been edited by bbgoat: Dec 29 2014, 09:18 AM

FD Promotions is like the norm nowadays as banks compete for funds and I also expect FD Promos to continue.

I guess FD Promotions have been around for years, but prior to 2010 I was not really bothered about them. That all change when I quit my job and suddenly I had so much time on my hand to waste and go find out the highest FD rates since I needed whatever extra pocket money I could get, haha.

And more importantly, since I had so much time to waste and with your permission, "re-branded" FD Thread V1 by starting FD Thread V2 in 2011, and for the first time compiled FD Promos in Page#1. And since then more and more members contributed/shared whatever FD Promos they come across PLUS now with Admiral BoomBoomCha freaking unbelievable compilation of FD promos, LYN FD Thread is the best source for FD info in Malaysia

Bro, looks like OCBC revised their FD Promo on 15 December 2014 and are valid until 31 December 2014.

The 12 months 4.2% is pure FD, i.e. no stupid CASA requirement.

I guess OCBC had to come out with the 12 months FD at 4.2% to compete with UOB. And because they did, UOB extended their Christmas FD Promo to year end. Competition is good for us, hahaha

This post has been edited by Gen-X: Dec 29 2014, 10:20 AM

Perhaps not directly related to FD but I was wondering if I wish to open two FD accounts at RHB, one being joint and the other one personal, should I carry two bank drafts separately or I can just bring one bank draft with the money for the FD of two accounts and get them to diverge the lump sum into the two accounts I wish to open?

Ah Boom has been quiet for some time now, where are you ?

Credit to Captain's blog for detailed summary and "under table" info !! Ha ha !!

Waiting for banks to break the 4.2% for 12 mth FD. Previously SCB has 15 mth 4.25%. If not have to go for 2 or 3 yrs rate of Affin/4.38% or AmBank 4.5%.

My RHB 15 mths Step-up FD is currently in 2nd step and will be maturing next month, thought of switching to Affin 2 years 4.38 too but after calculation, the ER for the remaining 3-steps (9 months) 3.88%+4.08%+5.38% is higher at 4.45%. So tak jadi switch.
Actually, step up FD is a very effective marketing strategy to make the product sticky. Featuring no penalty withdrawal on each quarter to attract short and medium term deposits but it gets stickier as deposit tenure progress. A good tool to counter future FD rate competition like in the case of Affin and Ambank.

Normally bank can accept one cheque. On the safe side, give them a call.

Yes, that is a good way to look at the step-up rate. It is beneficial (to terminate) for those FD maturing on the 1st step up rate of 3.48%. As we move to 3rd stage, very minor or no gain as compared to the other rates offered by other banks.

So step-up rates actually works to the banks benefits. Some consumer may just withdraw without calculating as we do, even terminating the FD before maturity.

This post has been edited by bbgoat: Dec 29 2014, 02:22 PM

I have an FD with Affin, matures today, called up to ask if can uplift to the 2yrs @ 4.38%, officer says no, have to be fresh funds. Sigh, next choice is the ambank 3yrs@ 4.5%, since small amount, I think I go for that.

Just placed another FD with OCBC for 12M @ 4.2%, again asked for free gift but failed again lol

makes me wonder how you guys always get free gift:
1. my amount is too little for them
2. not good looking enough

i had the same scenario with you.

here's what i did:

1) IBG out to other banks (RM2 for OTC IBG). Mine from Affin -> MBB.

2) Then online IBG (RM0.10 per RM10k per day) back to Affin's SA <- you need a SA for the promo FD, so create this SA when you uplift existing FD.

3) If online IBG to Affin's SA, they still allow to use the SA's fund; provided within few days before new FD placement. check with the branch's requirements.

4) Alternatively, use banker's cheque (e.g. MBB's banker's cheque is RM5) before placing the Affin FD.

Given the RHB each quarter at 3.48% 3.68% 3.88% 4.08% 5.38% for whole 15 months,

Let's say you already collected your 3.48% interest after 3 months, your remaining 12 months (3.68% 3.88% 4.08% 5.38%) at RHB would yield an average of 4.26% isn't it?

So let's say you switch to 4.5% (3 years), at RM100k, your extra interest would be (4.5-4.26)%*100k=RM240 extra?

This post has been edited by lowya: Dec 29 2014, 06:33 PM

Gonna place my FD for the 12M promo @4.2% too!

By the way, really can get free gift? First time heard about this.

All the while I know free gifts are coupled with Cc promo. If can get for FD promo, I wanna ask too

Just came across the PBB 3 months step up
3.88%
4.18%
4.28%

Which is quite attractive as well. 9 months effective 4.11%, an good option for those opt for shorter term than 1 year.

Hi can I check with you guys about OCBC Al-Amin's Commodity Murabahah General Investment Account-i is it equivalent to conventional fixed deposit?

From its name, it looks like a structured wealth product.

http://www.ocbc.com.my/OCBCAl_Amin/downloa...urabahah_EG.pdf

This post has been edited by David83: Dec 29 2014, 09:42 PM

I see, because I was thinking to place a 3 months FD under their Discovery Treats @ 3.80% p.a.
OCBC's conventional FD doesn't offer same rate for the same tenure

http://www.ocbc.com.my/assets/pdf/Accounts...TnC_General.pdf

This post has been edited by Ah SiAnG: Dec 29 2014, 09:46 PM

It works like FD by the way but I can't find the profit rate for that product.

Perhaps you may want to check with the nearest branch or their CS.

okay thanks for your time