Ah Boom Ah Sir,

I checked SCB FD's from 4.25% to Jan/Feb 4.5% and last week's 4.5%, same printed FD cert given (other than the tenure and maturity date). In there it stated for more than 12 mth FD, interest is given every 6th month.

Then last week I asked a leng lui in SCB's PB centre, she said interest given every 6th month. So even for 15 mth FD, 6th mth, 12th mth and then 15th mth. I mistaken this previously, thinking first 6th mth interest then 15th mth for the 15 mth FD.

So in fact every 6th mth interest given until the final maturity for 15 and 18 month (Oct 2014 promo) FD of SCB.

This post has been edited by bbgoat: Mar 7 2015, 11:41 AM

This is Islamic FD.
I did it last week.
Each FD account requires min RM 5.00 to open one current account.
Now HSBC is giving one umbrella for opening each FD account.

Maximum of this FD is RM 30K, min is RM 5K.
But you can get your relatives to joint name with you to open more FD accounts.
For example:
(1) You place RM 30K under your single name - 1st account
(2) You place RM 30K under your wife single name - 2nd account
(3) You place RM 30K under you and joint name with your wife - 3rd account
Total RM 90K to enjoy 5% (Effective rate is about 4.8% after deducting/loosing 3 days interest)
And you will get 3 umbrellas.

2 negative things you need to know:
(1) Effective date of the FD will effective only after your check is cleared, so we will lose at least 2 or 3 days interest. But I brought cash so I could get my FD cert effective on the same day.

(2) We can only withdraw the next day of the FD maturity date, so we will lose one more day interest.

In overall, I think this is a good deal for 3 months FD.

This post has been edited by BoomChaCha: Mar 7 2015, 12:11 PM

Looks like Islamic FD has the requirement for cheque to be cleared before FD effective. HL Islamic then SCB Islamic (SCB leng lui told me) and HSBC's one. Oh, except MBB's Islamic FD effective date still the day cheque presented.

The 3 mth 5% is attractive except max 30k only.

This post has been edited by bbgoat: Mar 7 2015, 12:21 PM

Ah Goat Sir already explained this on his Post #1045

Ah Goat Sir, Thank you so much for the clarification.

Last week when I placed this SCB 4.25% FD, I asked the Leng Lui about the detail of Bonus Saving 4.28%, Leng lui said only RM knew the details.

So, if I want to know how does this 4.28% work, I will need to see the RM
I do not want to see any RM anymore because they will push me for the investment products
I think SCB is purposely set up this so that this can create the opportunity for RM to sell their
investment products.

Anybody knows how does this SCB Bonus Saving 4.28% work?

Let's take HSBC effective 4.8% instead of 5%:

RM 30k's return at 4.8% for 3 months is RM 360

versus RM 30K's return at 4% for 3 months is RM 300

Extra RM 60 for each RM 30K, and some more one free HSBC umbrella, but while stock last

I did similar calculation. For me, HSBC location has problem to park car. With the incremental gain of <RM100, some more 3 mth only, not worth the effort. I also used 4% as comparison (Wise men think alike !). Ha ha.

Unless I am also going to SCB and OCBC which are in the same area as HSBC.

This post has been edited by bbgoat: Mar 7 2015, 12:53 PM

If I want to open this FD, do I need to open the current account? Then does this current account needo to have minimum money in the account? Is it need to open the HSBC advance? I saw their website said need got minimum amount inside.

Ya loh, this FD is only small extra bonus

Yes, you have to open a current account for each Fd account.
Yes, min is to keep RM 5 in current account.

The HSBC clerk did not mention anything about HSBC advance wor...
He said this Islamic CA has created last year but no customer to open this account, now HSBC offers this 5% just to get more customers to open this CA

This post has been edited by BoomChaCha: Mar 7 2015, 02:08 PM

Current account ? Then have to close it 3 mths later together with the FD ? This one is to lure us to open CA.

The HSBC Leng Chai clerk said can, can close the CA together with FD in 3 months later.
Everything looks straight forward to me..

5% rate for only 3 months with max RM 30K, I guess HSBC cannot ask for much from
depositor with this small bonus, right?

This post has been edited by BoomChaCha: Mar 7 2015, 03:46 PM

Ya loh, just close the CA 3 mths later. But if can get few people to do it, then will worth the effort X3. Like you proposed.

If you want, you can also do like what I did ma..
Actually you can do more (I mean HSBC FDs), since you have many lovers around you..

In fact, I was thinking maybe I was supposed to put in SCB 4.5% for 15 months instead..
But this is already done, no return ticket, so just let it be..

This post has been edited by BoomChaCha: Mar 7 2015, 03:55 PM

All my gf's are young and refuse to do this type of things. Have to get unties to do that and buy them lunch/dinner.

Seriously I think SCB 4.5% deal is good. With OPR going to be the same or even lowered down, should grab this before it ends. I added some more eggs there just 5 days ago.

This post has been edited by bbgoat: Mar 7 2015, 08:18 PM

Ah Goat Sir got many young girl friends
Ah Goat Sir obviously is young, handsome, strong & steady..

But when talking about money, sometimes even brother & sister also cannot be
trusted. I guess the only persons we can trust in this world are our parents, the
next are our son & daughter.

Yes, I agree SCB 4.5% is a great deal that we should not miss.
I also placed this 4.5% FD 4 days ago..

Old man like young gf's !

It is difficult to include children. Ever heard of children driving parent out of house after hse assigned to them ?

So we both liked SCB's 4.5% !

Next week going to go for EPF self contribution !

This post has been edited by bbgoat: Mar 8 2015, 10:26 AM

Just wanna a question to our FD kakis/experts here. When you have some savings to put into FD, do you:
1) Straight away go to the bank to put FD or
2) Accumulate more then only put into FD

Option (1) will result in many trips to the bank while option (2) makes you lose interest while waiting but results in less trips to the bank.

Online FD placement is the trend now bro..

But the hindsight of placing fd online is.. no freebies like umbrella la.. book la.. tumbler la..

but the good one is easy fast n quick n convenient

I got a fren went to place FD in taman connaught bank..

End up placing 10k fd, and get a police saman worth rm 100 as a package as well

Haha.... I also had to pay RM10 because forgot to put parking ticket.

Online FD is convenient but the interest rates are much much lower, no specialist promotion (e.g. lucky draw, etc) and as you mentioned, no freebies.....