thanks for the info magika & cybpsych

i just called their 1-800 line & confirmed that interest is not rolled over - only principal. Interest will be credited to nominated SA or CA every 3mths for the 3+3+3 deal or every 6 mths for the 6+6 deal ... which also implies that we have to open at least a SA with them lah

Woweeeeee if SCB is giving 4% on savings account, I'll tell all the other banks to go fly kite with their FD promos & just dump evrything into SCB's savings account in a heartbeat

Update after trying to read SCB's t&c's:

haihhhh I think u need to be a Mensa member to be a customer of SCB. Their promo T&C is so damn difficult to read & full of traps imho...

For example, LM88 assumed 20% in savings account earning 4% ... what it actually says is:


Unless, they pay 4% on current account balances, your 20K earns zilch.

The 4% Savings account interest is another promo altogether... the Priority Banking Bonus Savings Welcome Offer 2 to be exact with its own set of bloody complicated T&C

LM88, sorry to burst your bubble.

hahaha SCB says "It’s good when your trusted partner (ie SCB lah) understands your needs" But the trouble is when my "trusted partner" creates deals with T&Cs that I cannot understand, then my "trusted partner" cannot be trusted, yes or not? LOL

This post has been edited by okuribito: Nov 25 2014, 12:14 AM

LM88, hahaha when I see scb or hsbc, i always feel uneasy. I did remember the JustOne account being discussed last month so I searched. This was a comment made by our sifu GenX, not about JustOne, but about priority banking in general ...

"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. "

Quoted from this post by GenX

It stuck to my sub-conscious & I guess that's why I made that comment about being given gula gula to choose between the devil & the deep blue sea

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

actually i wasn't referring to any specific promo but sharing the possibilities in general. You're absolutely right in your comparison. The thing is if you withdraw prematurely from a 2 yr deal, what is your opportunity cost? ie how much interest will you forego? Not saying you'll lose out, could go either way ... it depends how deep you are into the deal, the deal's T&C & how good the new rate is In fact i did change my mind recently & forego a few days interest to move to another better deal. It all depends

That's why I'm against the big C merger ... with less players, naturally there'll be less options for us. The more creative they get, the more possibilities for us. Just need to be careful evaluating them eg the CASA linked deals. Never say never

heard on bfm this morning Saudi gonna tekan prices until it reach shale oil's breakeven level of around 45usd and Petronas has already told the govt to "ikat perut" because of soft crude prices (haha they say govt's karma cos it told people to tighten belt)

curious & dun hv solid econs knowledge - why u say FD interest sure going up? I know 97 levels were about 7-8% - can go there or not?

magika sure or not? can see blood on the streets already meh? wait a bit lah... ready aim fire! hehehe the stepups i mentioned over the weekend might just come in handy if things start to boil

Regarding rates, thanks for your insight cherroy. Can you have a look at these historical stats & comment pls?

Average FD rates since 1980

BNM stats - interbank rates since 1997

end-1998/1999 was a bummer - BNM must have intervened to lower rates???

dEviLs thx for sharing this HLB 3.3% gold wafer promo, it's an interesting CASA linked deal ...

Here's the T&C

CASA criteria favors the big big fish:
RM 5,000 CASA = RM 10,000 – RM 100,000 FD
RM 10,000 CASA = RM 100,001 – RM 200,000 FD

Also note this premature withdrawal condition ...

Dunno what happen if you w/d end of 4th or 5th mth?? Assuming you have to stay for 6 mths to enjoy full benefit of interest, then why not put into some other straight 6 mth deal? so many starting with 3.75%

I think HLB looking for water fish

This post has been edited by okuribito: Dec 2 2014, 11:09 AM

aeiou228 ?? sorry but how does the historical trend validate your gut feeling? appreciate if can explain

This post has been edited by okuribito: Dec 2 2014, 11:09 AM

wow thanks cherroy and gsc for your sharing... two different points of view

That's a lot to digest & to think about. I think this discussion is relevant in this interesting times, what with the banks casting their fish hooks baited with juicy worms, hungry for our money.

"Russia will suffer greatly with the tumbling down of oil prices" ...
I read that many "petro regimes" ie those that depend on oil exports for their economic wellbeing are already screaming at Saudi for doing nothing (they want Saudi to reduce prodn to bring up crude prices ) eg Venezuela. Is m'sia considered a petro regime? Since we're so dependent on Petronas?

" US may start to raise the interest rate next year and money are expected to flow into that direction" ...
what's their motivation to raise interest rate? If they do, will the others follow to counter the effect on their currencies? Will BNM follow? Or will BNM only raise rates in response to inflation numbers?

What's OPN? or perhaps ur referring to OPR?

"With worldwide low rate across the globe " ...
I don't know but I guess this must be true. But when word-associated with Russia mentioned earlier in your post, I remembered a Koshka who visited this thread asking about FD rates ... figured out she's Russian & so I checked Russian FD rates. Wow! theirs is in region of 8% iirc

"Thus buying growth potential property is still a better bet. The property price may go down but eventually it will climb back." ...
Do you think local property prices will be affected in the next 12 mths? Perhaps due to interest rates going up? That would be a dilemna for FD hunters ... rates go up, we tempted to lock into FD ... hence less money to catch lower priced property?

ps: hope mods dun mind, me in between maturities, so wanna research as much as possible

Just recd sms. ..

Enjoy 4%pa(6mths)&4.1%pa(12mths) for min FD of RM10k. This is our way to TQ & #givealittle back.Promo ends 31/1/15. T&C at ambank.com.my/eng/promotions

Edit: already notified by other brothers few pages ago

AND btw, how do you all feel about banks making photocopies of our IC AFTER putting it thru the card reader & printing out all details from the chip? Why still need to make a copy & put into file for some disgruntled employee to mess with? Yeah they stamp it but a fren just told me his experience with one of the foreign bank ... they not only photocopy but enlarge double the size... then they put their tiny 1.5inch stamp in the middle (not obscuring any detail)... wtf!!!


This post has been edited by okuribito: Dec 3 2014, 12:52 PM

gsc thanks for that BBC article... very well put together & kind to laymen

This chart is so damn scary talk about printing money... quadrupled in just 5 years I think if any other country had done that, they'd be b****slapped by the IMF or the World Bank EDIT- oh shit, they're all doing it ... the UK, the ECB & Japan are all using QE!

Japan was (and still is) also in a similar situation where interest rates were close to zero, couldn't Japan have done the same?

taken from the infographic at the bottom of the article ...

Will the Fed do this? It'll literally prick the bubble, won't it? Interest rates will rise, right?


wish i'd paid attention during econs class LOL

This post has been edited by okuribito: Dec 3 2014, 02:19 PM

eddie2020 Hurry bro, last day Friday! min. 50K. no need check website, trust boomchacha's post #2
jack2
and remember maturity date unless wanna pay expensive price of rollover at board rates

This post has been edited by okuribito: Dec 3 2014, 06:41 PM

hehehe tell the manager there lah... gimme full 3.35% & you sign up for their latest 1yr 4.1% promo or bye bye. u got nothing to lose. give him ultimatum by end of day ... If he say ok, you stay (win win mah, he also will think twice), else just go rhb lah

my rough calculation which agrees with your assessment ...
keep the money there at 3.35% for full 4 yrs = 3x3.35% = 13.4% plus a bit more due to qtrly interest
OR
take out tomoro keep 3yr at 4%, assuming 2 rollovers of 1yr contract = 12%
plus 1/2 of that 1yr @3.35% = 1.65%
Total 13.65%

gud luck

Just read their promo page https://www.hsbc.com.my/1/2/hsbcadvance/pre...ement-promotion

seems if you opened your adv account before 1/9 then you can still take up this 5% offer last day 18Dec.

RM10 per mth if "total relationship balance" fall below 30k ... aum includes time deposits ie fd

Now for new adv acct or opened after 1/9 (last day of offer 31/12) , i wonder if I can put in 30k FD for the 5% & at maturity close all account with them. Will they charge me the RM10 or some other fee???

This post has been edited by okuribito: Dec 5 2014, 05:40 PM

4.2% now wait for other banks to up uob

ummmm until when arrrr? cannot find on their website yet

another option ... hope not confuse you ... put into BR 1 year in how ever many certs possible. If you have emergency, and need to withdraw, they pay you the next best rate eg if withdraw after 9th month + x days, you get interest as if it was 9mth FD in the first place. That's what they explain to me last time. Pls call them to confirm

hahahaha good one ... damn funny siu sei ngo!!! should give jinny boy the script, make youtube video

dat's why lah, when we see water fish promo, we should voice out here also

This post has been edited by okuribito: Dec 8 2014, 02:01 PM

hahaha that's why I told him to call & confirm himself lah... i haven't tested yet btw BR got 5 yrs rate meh?

brother, the 30K in red get what interest rate??? no lah... if you put in 60k where got mthly chg? only got if fall below 30k mah! did i read wrongly?

good good

if can, pls let us know link or document showing this regulation ... then we can confidently show banks next time it happen to any of us. Thanks