BR is small portion of my portfolio. Do not want Rakyat's money, just in case. Have been pulling out from BR due to rates not that good. Figure maybe 250k or something like that is fair figure, hahaha !

I kiasi also.

This post has been edited by bbgoat: Nov 14 2014, 05:21 PM

Sure their big depositor (you know who, not me) also withdrawing.

That will be good. You should mention their nego rate as one of their attraction, no banker's cheque etc. No one called me .................. Small depositor.

Not so much acct based. It is on per person or individual account in the particular bank.

CIMB online also has this IBFT "instant transfer" feature. Cost RM 2. RHB one is really cheap. Though have these 2 banks acct but never try this IBFT feature.

This post has been edited by bbgoat: Nov 15 2014, 09:03 AM

Instead of:
"It's max RM250K per account"

I think more accurate term will be RM250k protection per individual or entity (company account) in particular bank. Not account based.

Below copied from the link by Captain (PIDM pdf file):
The RM250,000 deposit insurance limit is applicable per depositor per member bank

This post has been edited by bbgoat: Nov 15 2014, 09:10 AM

I think difficult to put in one sentence for the PIDM protection. That's why they did not try to do that, with one sentence.

For joint acct with one more person, you get add'l. But strictly speaking, it is the other person, not you. But if the other person has a single name account in that bank, then no more add'l.

So if A & B has 3 accounts in 1 bank, 2 single names and one joint account, the protection is still RM250k X 2 = RM 500k.

Please correct me if i am wrong.

Captain on holiday mood already. Going off today ?

Bon voyage !

There are lots of that type of persons around. Either they don't care and put all in one bank, or spread out 250k X x number of banks for protection.

To me, I still will put in those that give me high rates but spread out my risks.

Good info and legally speaking that should be the way.

Ah Boom, unofficial underground way. A lot of people doing it. If no legal complication especially without beneficiary issue, then OK (until caught ).

This post has been edited by bbgoat: Nov 16 2014, 07:55 AM

Like !



Ah Boom Sir, my Coop card is single name. Though have joint acct but did not get Coop card for that acct.

This post has been edited by bbgoat: Nov 17 2014, 09:22 AM

Agreed that Affin 2 years 4.38% is the best deal so far, after that RHB 9 mths 4.15%. May have to go the 2 years route at 4.38% for now until a better one comes up. Just early this year was putting in BR for 2 years at 4.25%, then to 4.2%. So Affin 4.38% is GOOD !

Young Magic is a sifu in SA. Learned on the BSA with option 1 from him. Never know about this until now.

This post has been edited by bbgoat: Nov 18 2014, 10:14 AM

Ha ha ha ! Some say insured by Rakyat.

Their rate used to be the best but no more since months ago. I personally still have some bullets there. Their strong point is the monthly interest crediting.

Are you going to use board rate to place FD ?

An update on using online IBFT (instant version of IBG) to transfer FD interest from RHB. It is immediate transfer to CB. Logged in to CB and saw it just seconds later. Now I am a believer. The cost is 80 cents vs normal online IBG of 10 cents. Worth it if we need the funds. Other banks charges is different for IBFT.

This post has been edited by bbgoat: Nov 19 2014, 08:27 AM

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).

I concur !

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

Just received BR Rakyat Xclusive Card. Surprised that BR is now fighting "upmarket" ?

Benefits have been mentioned earlier by some of the fellow forumer. Will be interesting to see where is the Rakyat Xclusive Servie Centre. Maybe Penang will not have one. Even PBB did not have one PB centre in Penang.

Young Magic & Ah Boom, did u guys also receive it ?

Ah Boom Sir, as mentioned before, during FD placement, BR system will adjust the FD maturity to next working day. If you calculate the FD interest printed on BR's FD cert., it will show the add'l interest for the non working days. You never check that ?

The only issue is upon auto renewal without getting a new cert, as someone commented, BR system is not that "smart". It just auto renew to the exact cycle eg. exactly 1 year later irrespective of the maturity day (working day or not) for 1 year FD.

Before that, the "small fry" is "big fat Cat" which unloaded a lot of the fats ? Uncle Magic has moved a lot of fats to other places.

Noticed that the requirement is minimum 300k CASA or financing of 1 mil. The 2nd requirement surprises me.

This post has been edited by bbgoat: Nov 21 2014, 10:37 AM

Ah Boom Sir, in your post, you must have edited it in mistake. The below is not from me, it is from another forumer. I think I made the comment that the add'l interest is NOT RM10. I have no acct in OCBC yet. Penang OCBC branch is in town where parking is a big headache.

QUOTE(bbgoat @ Nov 21 2014, 10:32 AM)
2) Read thru the internal briefs for Independence Day FD deals (expiring 30 Nov). I noticed all interest rate of 4.100010% p.a. is for the Gold Coin contest. I guess they're doing this on purpose to segregate eligible vs non-eligible depositors. p/s: mine printed 4.100010% p.a. as well as printed instructions to transfer the fund+profit back to my OCBC's SmartSavers account upon maturity.

Lazy to walk. That car park u mentioned short distance away also, also not proper parking lot. When I opened acct in SCB recently for the 4.25%, I did park there. So depends on promotion whether it is enough to lure me there. Anyway, no acct in OCBC there.

OCBC Batu Maung far away some more. Traveling time and cost comes in.

Have been away from this thread for some time.

Report "Young Magic" or "Old" one for double posting ?? Lose his Magic, getting old ??

Oh, so UOB Christmas promotion of 12 mths 4.2% is rather attractive. I was thinking of putting some bullet in ASNB fund as they are getting a beating now but UOB rate is attractive.