i just opened UOB FD 4.05% 12mths. They just issued me 'TIME/FIXED DEPOSIT ADVICE' statement. Is it neccesary to request for FD cert? I immediately check UOB online banking and my FD accounts are already there.

Is this safe enough? What is the purpose of having FD certs?

UOB do not need FD cert to uplift. I normally do not check if what they issued is a cert or not. So no worry. The online check is suffice, that is what I normally do as well.

They will also issue you with statement monthly (edited at 5.38pm)

This post has been edited by bbgoat: Oct 16 2014, 05:38 PM

Nov OPR increase will be GOOD !

Not scared kena sumpah meh..those heavy with loans.. you no pity.

I do think interest rates at present is good enough, rise sumore, lots of people jump off 14th floor. Look at stock market now, big red bear already.

while those with loans would be like

50k might be small fry for some but it's good enough to get Aspire account since you are placing more than 50k 1year FD. Can just go to their Aspire counter without queuing next time(not that I go to MBB often) . Haha.

I don't have MBB RM like all the sifu here so they just offer Aspire. Maybe they have quota to hit or something.

Some banks do not practice FD cert, but statement based.

FD cert or statement based is just the way how bank adopted in the system.

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

just wondering. Has CIMB ever been aggressive with FD promotions? Any chance of them countering mbb's attack in the near future?

with regards the merger, what will happen to the MBSB long dated FD's let's say 12 mths or longer such that by the time they mature, the merger already completed. Will those MBSB FDs enjoy PIDMunder the merged entity?

Maybe PIDM protected..

I checked my UOB statement, I did receive on monthly basis. The issue is for the past 1 year, no placement there until recently. So forgot that they are issuing on monthly basis. Their rate over last 1 year was behind other banks. By June 2014 has depleted my FD there until Oct.

This post has been edited by bbgoat: Oct 16 2014, 05:37 PM

It seems there is an option to 'withdraw' your FD using UOB online banking. No need to walk-in to branch. Convenient but may not be safe if your account gets hacked !

This post has been edited by kimmo88: Oct 16 2014, 05:38 PM

Every action there will always be good and bad reactions. For those who are debt free, should be happy also. Right, "Good" guy ?

CIMB has not been aggressive for FD promo as far as I know for past few years.

I don't think so. I did not see the option in the online account.

2
n also you got good heart not like your friend Ah Boom.

Wonder whether BR can online uplift FD as can see it there. MBB efd can of course, but MBB normal FD can see but not sure whether can uplift online.

You and Ah Boom are my Good Friends.

For BR cannot withdraw online, luckily.

Not all FD can withdraw online. Like for CIMB and MBB, only those with "e" there can withdraw online. I know what u mean as I have both normal and e FD for the 2 banks also.

For CB, even though we can place FD online, but cannot withdraw online. I think PBB also the same.

Alliance Bank never had FD promos for a long long time, so quite unlikely to go for their cards.

Now hopefully no surprises for the Maybank under table 4% promo on Monday 20 Oct.
I will also try showing my CIMB cheque book but what if we transfer the funds into Maybank account, will it still be considered fresh funds for Maybank?

Alliance Bank do have FD Promotions, my RM always inform me.

I can clarify that their promo is still valid for next week coz i just went to ask them today.