Hi sifu-sifu all,

I have an awkward question to ask, I placed a Bank Rakyat FD (5 year 4.5%) sometime last year but can't find the slip now. Any way I could get it reprinted? Is there a penalty? Must go back to same branch?

lost and NOT found?hee hee.
sure kena penalty.good luk.

ain't have time for it

What was the instruction given when mature?

You need to compare the cost of cert replacement versus lost of one day interest.

If it is auto renew then let it auto renew and the next day withdraw it as the contract of FD placement of earlier placement is invald anymore.

Free Tupperware for HLB premium saving account

2.8%p.a, earmark 122days




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5 years is a long time, for you to keep "watching" over that FD, i know you can see on irakyat and also from the monthly interest.

what if some one get hold of your FD cert and pakat with BR staff withdraw all your money?
How are you going to claim back if BR show you the cert with your forged signature on it and the money is gone?

Go inform the bank of the lost FD cert la.

Not sure how BR works, but some banks either charge you a penalty or some even will ask for police report.

Do it asap.

Sigh, I missed out SCB FD promotion (4.5 % for 15-month tenure) and Affin FD promotion (4.38 % for 24-month tenure). I glanced through the first 2 post of this thread, and the current rate of about 4.2 % is not as attractive as SCB.

My desired FD (with PIDM):
Tenure: 1 year or more.
Amount: RM 5000 to RM 10000
Desired Interest Rate: Same or more than 4.2%
With no requirement of having some money in CASA.

I have narrowed the options to CIMB, Public Bank and OCBC.

1) As for OCBC (effective interest rate is 4.2 %), it is mentioned here that the interest earned in the first term of 180 days will be automatically added onto the principal and rolled over to the second term of 180 days. So, is it applicable as well to CIMB and Public Bank?

2) Which FD will suit me better?

3) Can I specify the instruction that upon maturity, the principal and interest of the FD will automatically credited to my basic saving account?

4) Assume that I use IBG to transfer the fund to my saving account. Once the amount is reflected in my saving account and I use it to place the FD on the same day, can the fund be treated as a fresh fund?

Thanks for the advice.

This post has been edited by alvinkhorfire: May 24 2015, 08:30 AM

replying on OCBC's promo FD

1) Depends from bank to bank. check with CIMB and PBB.

3) For OCBC, yes, you can instruct them to automaticlly credit principal+interest upon FD maturity to basic savings account. that's what i did for the previous OCBC 1yr @ 4.10% p.a. promo FD (Super Deal).

4) if you can extract OCBC's T&Cs for (1) above, then you should read T&C clause 4.2.1 for the definition of Fresh Fund.

Previously for Affin's 2yr @ 4.38% p.a., i uplifted a matured Affin FD, OTC IBG principal+interest to Maybank, then i perform Online IBG RM10k/day (now limit is set RM20k/day) from Maybank to Affin basic saving account (3 days straight), then next day (4th day) perform new Affin FD placement by using fund from the savings account. Affin allows this as Fresh Fund.

This post has been edited by cybpsych: May 24 2015, 08:54 AM

... the cert is just a sort of verification or reminder, you will still require to produce your readable chip "mycard" to close your fix deposit. I think the cert and "mycard", with your authenticated signature verification is needed upon closing or withdrawing a deposit; but its still best to replace the lost cert because its pointless to have any complication when the time comes to close or withdraw your fix-deposit account. The account holder is also needed to be personally present with a readable "mycard" to replace a cert. No representative is allowed unless is a joint account. Readable "mycard" is the only way to have any official standing with any banks these days ...

For PBB step up, interest will be paid to your SA on step up maturity, NOT added to principal. OCBC's one CANNOT withdraw the interest and interest added to next step up. So effective rate of OCBC FD is slightly more than 4.2%.

Some banks like UOB is statement based. No need any cert, in fact UOB using some sort of slip/statement. Just product ic will do.

Actually receipt is sometimes better for forgetfull people.

OCBC and UOB don't need the receipt, but they will ask you to destroy the statement. Stories from OCBC RM saying people forgot they actually uplifted the FD, but still keeping the statement, then go argue at bank. Unbelievable...but still...HaHa.

Alliance Bank for PB customers, just sign indemnity form saying you lost your cert, for non PB i think need to make police report.

Personally I still prefer the FD cert. Pro and con's of FD cert and statement based. Our Captain Gen-X has written in his blog on this topic.

With monthly statement from UOB, OCBC, this will help the forgetful people to remember the previous month they have withdrawed their FD.

for HSBC, do they need fd cert to redeem/terminate? are they statement based like UOB. TQ

HSBC FD are statement based. Cert is not available.

Thanks ! I cannot find one of my HSBC FD which was placed 4 years ago ! But still receiving their regular statement and can see it online.

Have to terminate it and move out as HSBC seldom has good FD promo, other than the recent short term ones.

This post has been edited by bbgoat: May 24 2015, 06:22 PM

Thanks, cybpsych and bbgoat for the generous advice.

So, are you saying that OCBC FD suits me better? Yeah, I want the effective interest rate to be maximized, so I am fine with the interest added to the principal.

Alright, my intention fulfills the requirement. I shall use IBG to transfer my money from other bank to my OCBC saving account, and use this money to place the FD.

Each has to make the final decision based on other factors like preference, convenience etc etc.

Bro, for convenient in the event of emergency, I prefer Statement Based FD. However, with Statement Based, every months I get tons of statements from UOB as I have so many accounts with them.

And Bro, I so "gatal" that I just got myself the Maybank Premier Wealth MasterCard Debit Card. However, with me having this card, I need to maintain the minimum AUM or else I will have to pay RM800 fee!!! However my RM told me don't worry as she can always waive it and she assured me that I will get new FD Promo rates in the future without needing to meet the "fresh fund" condition. To see the card - click here to my article title My Maybank Premier Wealth MasterCard Debit Card and Eraman Privilege Card PLUS Maybank Deposit Products to Pay Your Credit Cards Bills.

This post has been edited by Gen-X: May 25 2015, 10:46 AM

Captain, for me, having FD cert in my hand felt more secure. Though the only FD "cert" that I cannot find is the HSBC one which I learned also statement based. But I thought you said before that statement based has the risk of being withdrawn without our knowledge especially for joint acct. Haha !

Wasai, you have 16 credit cards or more ! In the blog you showed techniques to get the money to work harder for people !
Q-Cash is one of them. Last year I know of REPO through you and have parked some eggs there short term (weeks then by day) to get 2.6% interest. Thanks !

This post has been edited by bbgoat: May 25 2015, 12:31 PM