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 Fixed Deposit Rates In Malaysia V. No.8, Please Read Post#1 and #2

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Human Nature
post Mar 25 2015, 05:08 PM

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QUOTE(bbgoat @ Mar 25 2015, 12:50 PM)
Wow, checked my SCB JustOne acct. In the saving acct, interest credited !!  rclxms.gif  rclxms.gif
@Human Nature, did you receive yours ?  hmm.gif
Update: Found received interest for FD due today but earlier 3 FD's interest not yet credited. So will call the RM again if still not received by Friday.  shakehead.gif
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QUOTE(bbgoat @ Mar 25 2015, 03:25 PM)
RM called and said BM signed to release FD interest. The interest that I received is for FD due today which is for 18 months 4.25%. 3 FD certs are waiting for the interest, they are 15 mth 4.25%.
The RM said future FD certs have been amended and the issue should be settled. Next big one is on 1/4. He he, will need to check it soon.  biggrin.gif
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Checked after reading your posts and yes, it has been credited today.

25/03/2015 RFD FD INT-xxx MYR 353.97

I used the online FD calculator to check and this corresponds to 152 days, so lose about RM66 due to no interest on weekends.

My big one will be on 29th March, under the 4,25% 18m promo.

This post has been edited by Human Nature: Mar 25 2015, 05:08 PM
Human Nature
post Mar 25 2015, 05:20 PM

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QUOTE(bbgoat @ Mar 25 2015, 05:15 PM)
Something wrong with the calculation. 152 days is wrong. SCB will pay over weekend. Only thing is if FD mature over weekend, then we don't get paid.  biggrin.gif
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So my understanding is wrong all this while. Meaning for a simplistic calculation, for 6 months or 180 days, the interest should be RM425.

Is your calculation tally for your cert?
Human Nature
post Mar 25 2015, 05:26 PM

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QUOTE(bbgoat @ Mar 25 2015, 05:23 PM)
181 days is exact for me. Yours should be as well from Sept to March. Can just add up the days accounting for month difference. I did receive the 181 days interest.  biggrin.gif
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Thanks for pointing this out. Lucky, as I thought no interest on weekend. Will highlight to to the bank manager. Now preparing spreadsheet for all certs to check on the 6th months date and amount.
Human Nature
post Mar 25 2015, 06:07 PM

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The bank manager contacted me and said, the remaining 71.03 will be credited tomorrow. So it will be 425 + 425 + 211.91 = 1061.91 (same as printed on cert)
Human Nature
post Mar 25 2015, 09:55 PM

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QUOTE(bbgoat @ Mar 25 2015, 08:27 PM)
So they have paid you wrongly and correcting their mistake ?
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no idea how it happened that way. luckily she called me first to explain.
Human Nature
post Mar 25 2015, 10:49 PM

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i will be super happy if i have savings in FD that can generate 100k interests tongue.gif
Human Nature
post Mar 27 2015, 12:45 AM

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You guys better start contacting the branch people. I was told that they have rectified the problem in their system, now no confidence liao.
Human Nature
post Mar 29 2015, 11:12 AM

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My 6 months interests for SCB 18 months promo has been credited (on a sunday).

I believe it is now automatic as the description is different from the previous one.

INT PAYMENT ON DEP

thumbup.gif

add: no 10 cents IBG fee for BSA hmm.gif

This post has been edited by Human Nature: Mar 29 2015, 11:21 AM
Human Nature
post Mar 29 2015, 11:43 AM

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QUOTE(bbgoat @ Mar 29 2015, 11:27 AM)
Forgot to ask you, did you get the previous interest which was overdue ?

Also I did instant IBG (IBFT ??) on 25/9 and no fees also. This is worth it as the transfer is INSTANT !  rclxms.gif
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Yup, the previous overdue one was credited manually. So for my case, everything is in order now.
Human Nature
post Mar 31 2015, 06:28 PM

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QUOTE(Gen-X @ Mar 31 2015, 01:35 PM)
HumanNature - or maybe you would like to be a guest columnist, the way you handled the "forced" deposit into Just One account issue can benefit many others so they are not conned by SCB staff.
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haha bro, i am not qualified leh. Whatever that I type here, you can feel free to use. No need give credit also no problem. *congrats on the rolex tongue.gif

QUOTE(gchowyh @ Mar 31 2015, 05:24 PM)

Let me share my experience.
QUOTE
It is a long story starting from the the first 4.25% 15m promo. The branch manager insisted that I need to open a Just One account with RM1500 min deposit (which she claimed can be withdrawn the next day). From this thread, I know that there is no mention of specific CASA. I insisted on opening a BSA with RM20 minimum deposit and she relented. It is during this first deposit that my cert was placed under option (1). Partly my mistake for failure to check.

One week later, I went to place under the 18 m promo and since I already have the BSA, I just tied it there. Thanks to this thread, I corrected the manager about the RM1500 Just One requirement but she said I am wrong. Okay, no problem coz I got my BSA already.

2 weeks later, I went again for the same 18 m promo but this time I want to open a joint account so I cannot use my BSA. The branch manager told me that she will contact HQ to ask about it. She went into her room and did not come out for 10-15 mins. The officer who is opening my account felt embarrassed and told me the truth, actually no need but they want sales. Okay, so I went to the manager's office and she said she already called HQ but need RM1500. I said okay, I will verify myself with HQ and she said go ahead. So I opened a joint BSA account but since it was already too late, I have to collect the cert on the next day. I was really angry because it means parking fees and petrol. And it means this is the third time she is trying to deceive me.

Upon reaching home, I email to their general customer service asking whether Just One requires any deposit and the answer is no. Having dealt with Bank Negara many times on credit card matters, I know I have a case. So I forwarded that reply from the bank to Bank Negara and detailed my experience. I asked what is BNM position regarding deceiving customers for sales and asked to be compensated.

So someone from the bank HQ called me and she asked what I want for compensation. So I just give her an amount (actually it was a small amount coz I only considered the parking fee, petrol and BSA rm20 deposit) and she said will get management approval. Later on, she called back saying that the management only approved for the parking fee and petrol. In that case, I said I want the compensation to include my time wasted on this issue. I told her what I am getting paid per hour and give her a new total figure. She said will check with management. Of course the management did not agree and offer me the initial amount. I am not trying to make a profit but just to set an example, so I accepted it. I am not going to collect from the branch, so they send two officers to deliver it to me.

Just one month ago, I went to place a new FD and the branch manager already recognize my face and name. I am just a normal customer, no PB  tongue.gif

The idea here is that, they (the complaint department) already know that I have past history of complaining to Bank Negara. So when I did not receive the interest this time, I just need to email to the regular customer service department. The bank manager contacted me and tried to explain that I am under option (1) but luckily from here, I know that those under option (2) and (3) are affected. So I managed to get the first cert to be changed to option (2) and that there will be no problem with my other certs.


This post has been edited by Human Nature: Mar 31 2015, 07:03 PM
Human Nature
post Mar 31 2015, 06:40 PM

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QUOTE(gchowyh @ Mar 31 2015, 05:24 PM)
Apparently option 3 means I will only get the interest upon maturity & everything banked into my account. I asked her are you absolutely sure as I know it is a known issue & my friends also facing the same problem (thank you guys tongue.gif) , she said she already confirmed with the operations manager.
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Option (1) renew principal and interest at prevailing rate for same term
Option (2) renew principal at prevailing rate for same term, credit interest to same currency account number
Option (3) credit principal and interest to same currency account number

Option (1) is the one getting interest upon maturity.

Also, the cert states that more than 12 months tenure will get 6 monthly interest so this is applicable to (2) and (3). One of my cert is having option (3), 6 months interest in mid April so let's see whether it is credited or not. My Option (2) is credited.

This post has been edited by Human Nature: Mar 31 2015, 06:44 PM
Human Nature
post Mar 31 2015, 09:52 PM

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QUOTE(Gen-X @ Mar 31 2015, 08:35 PM)
Human Nature, Bro below are your comments or someone else? I know it is yours but just wanna triple confirm. If yours, I am using it for my blog since you already gave me copyright to all your posts here  biggrin.gif p.s. thanks, but watch not mine but son's.
gchowyh, thanks for giving the copyrights too. I'll wait for your story outcome and see how best to compile your comments. Bro, write to BNM like Human Nature and ask for compensation and SCB called him immediately. Somemore, Human Nature taught us the art of nego, keep last bullet (i.e. your hourly rate) if they try to play hard ball.
Just go try 2 months eFD and see for yourself.
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Bro, they are my comments. It is too long, so I placed them under a quote box so that it does not appear everytime others quote my post biggrin.gif

This post has been edited by Human Nature: Mar 31 2015, 09:52 PM
Human Nature
post Apr 1 2015, 11:09 AM

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QUOTE(BoomChaCha @ Apr 1 2015, 09:53 AM)
Ah Sir, As of today, I still got zero FD interest in my account.

I talked to the Service Relationship Manager yesterday about this no interest
for my FD issue.

She said: SCB has two types of T&C for this 4.25% FD promo.
(1) For all FDs that placed on or before 19 September 2014, these FDs would receive interest upon maturity.

(2) And for FDs placed on or after 22 September 2014, these type of FDs would receive 6 monthly interest.
RM are hopeless,  sad.gif  unless if we buy investment products from them.
My first deposit was on Value Date : 15/09/2014


Human Nature
post Apr 1 2015, 12:19 PM

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QUOTE(BoomChaCha @ Apr 1 2015, 11:57 AM)
So.. did you receive interest.?  hmm.gif
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Yes, i received them but credited manually. The cut off date thing may be correct. Both person who handled my case did not mention about it so maybe your info is the latest one. However, they need to show where in their terms. Even the bank told me the interest will be credited. This SCB really make things complicated for themselves.
Human Nature
post Apr 1 2015, 04:12 PM

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QUOTE(bbgoat @ Apr 1 2015, 01:44 PM)
Joined SCB PB after leng lui keeps on asking. But looks like she is no longer with them. Just received from SCB.
What is that?
Human Nature
post Apr 1 2015, 09:07 PM

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Yup, my FD on 25/9 received interested automatically.
Human Nature
post Apr 4 2015, 11:38 AM

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QUOTE(alvinkhorfire @ Apr 4 2015, 08:58 AM)
Are the zero IBG and IBFT fees applicable as well to SCB Basic Saving Account, or only to JustOne account?
Captain, thanks for showing your tips.  notworthy.gif
IBG from BSA is free too smile.gif
Human Nature
post Apr 8 2015, 02:09 PM

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QUOTE(vincentwmh @ Apr 8 2015, 02:05 PM)
UOB 4.2% 12 months FD still on>> isit normal/direct FD with no CASA??
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direct FD with no CASA
Human Nature
post Apr 13 2015, 10:20 AM

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My interests for SCB 4.25%18 months deposited on 13/10 have been credited, under instruction (2) and (3) respectively.
Human Nature
post Apr 21 2015, 11:42 AM

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QUOTE(Dkck @ Apr 21 2015, 11:41 AM)
Ok. Just want to confirm this promo still on or not because later might head to UOB to park my money.
Like this promo cuz no need CASA .  biggrin.gif
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you can give the branch a call. usually they will display the promo on their counter. let us know ya if it is still available.

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