Last year received a letter from SCB asking me either to close my saving account or carry out some transactions coz it was inactive. Originally plan to close it coz I have too many saving accounts in some other banks. The counter girl convinced me to put some money coz she said usually SCB provides promotion to its existing customers.Now with this condition, I also wonder will they allowed existing customer enjoy the rate? If not, I will just place at EPF near month end...

Good point ! I have not read the T & C earlier.

He he. As I said in few post back, have not put money in this Islamic product yet. Based on what okuribito pointed out, may not be able to. Previously the conventional FD 4.5% also said one time placement but can get HQ approval. So have placed 2 FD in there for 4.5%. So have to check with SCB RM if I can place for this Islamic FD.

Will ask later when I have bullets ready.

This post has been edited by bbgoat: Feb 14 2015, 09:17 PM

avfan and all, read today's Star Biz section... an article by smart cookie Andrew Sheng - he says go with usd, something about there are strong indications of interest rate hike. read it on paper, I'm sure you can find online.
PS: here it is

bbgoat, fingers crossed they will be accommodative... who knows

This post has been edited by okuribito: Feb 14 2015, 11:37 PM

SGD and AUD almost dollar for dollar.....

As for should you hold on to USD, I don't know because if you see previous charts, it goes up and down. As for SGD, aeiou228 pointed before, it's on the uptrend like forever, hahaha

As for AUD, as far as I know, RBA still wants it to go lower. In 2008 AUD/USD went as low as 0.65 and AUD/MYR 2.2. But I not so greedy, when reach AUD/MYR 2.5 or below (TT rate) I will transfer my funds and go buy a property (it's like I'll be getting 30% discount from AUD/MYR at 3.3 in 2012 to 1st quarter 2013).

And talking about inflation, because of the high USD relatively to RM, we can expect imported goods prices to increase... e.g. new cars.

Bro I know what investment is fool proof... Rolex watches, hahaha

Above may be OT to some, but if RM weakens further... we all will be wishing we have converted our RM to USD or SGD

Many expected interest rates to go up in USD months ago, however last quarter data US economy not so good. Malaysia on the other hand reported better growth than most economist predicted.

My conclusion is Gen-x get higher return through exchange rate than from FD rate...

tq for comments.

aud/myr 2.5? that must be a long time ago, briefly? i wud think rm2.70 is a more realistic target as aussies at this time seem to be resigned to aud=0.75usd, so i read...

sgd... sg gomen been easing a bit, so may not get too strong. still, sgd on par with aud = rm2.70 is realistic!!

anyway, will keep monitoring.

This post has been edited by AVFAN: Feb 15 2015, 12:46 AM

Why need "fingers crossed", if cannot put there, put elsewhere !

Or like some others, wait for interest rate to go up !

Need to put elsewhere, already too heavy loaded in SCB (more than BR, by the way while some of u think I am heavy loaded in BR ). Ha ha ha !

This post has been edited by bbgoat: Feb 15 2015, 07:49 AM

Wow, buying ANOTHER property in Australia when AUD reach 2.5 !

Ya, FD return is sub sub suai for Captain !

Captain has set his aim too "low" ? He also has mentioned before if stock market crash, will move funds to buy some of the blue chips. But the target price he mentioned is also pretty low.

Jokes aside, I also need to look at USD/RM relationship. Have to look at dual currency account in CB. Have been watching USD moving from <3 to over 3.6 in last 2 years or so. Burning my pocket soon.

This post has been edited by bbgoat: Feb 15 2015, 08:20 AM

i think 4.5% 15m is the best at the moment. i got maturity coming up in early march lah. what's my alternatives ? even BR only 4.4% for 2 yrs. pbb step up also gonna end 28/2

hehe anyone else got love letter from BR to top up?? ask me to top up else kena charge "fi" hahaha frankly can give them back lah no biggie

Can you share the steps of using Inter-bank GIRO to open a FD account? What banks allowed Inter-bank GIRO instead of cash or cheque?

I received it too but I don't understand the letter. How does it impact on existing FD?

This post has been edited by nitehawk: Feb 16 2015, 05:09 PM

I was opening a new HSBC advance account which entitles me 5% FD rate for 3 months placement, with conditions that it must be fresh fund. So I just transferred some of my $ sitting in other banks into HSBC and open the one-time preferential FD rate account

It's actually the HSBC Advance Manager that advices me that I can do so

This post has been edited by polarzbearz: Feb 16 2015, 09:44 AM

what is the terms and conditions? minimum fund amount?
what will be the rate after 3 months, can we withdraw them?

Quite a few members discussed about it in this thread, you can search back for more info. But here's the T&C's

http://www.hsbc.com.my/1/2/hsbcadvance/pre...ement-promotion

Ya, the 15 mth 4.5% is the best so far for sure.

You cabut from BR ? Just after they started the Exclusive Card and you cabut your bullet ?

Term and conditions is you must have a advance account.

Minimum 5k and maximum 30k only.

Can withdraw after 3 months or else renew at board rate which is pretty low if you compare to other local bank board rate.

Max of rm375 returns.
And I wonder if the advance acc hv any additional hidden fees. And minimum $ to keep inside

If I recall correctly, minimum RM30k in Advance account HSBC Bank (total of all HSBC accounts: "total relationship balance") or have a housing loan with them; else charged monthly fee of RM10. Exception is given if you applied under company benefits (HSBC PERKS@WORKS - exemption of RM10/month for max 2 years)

This post has been edited by polarzbearz: Feb 16 2015, 12:04 PM

can we call this offer is the best 3month FD so far?

yes it is, but what after 3 months? stay there with lowest board rate in town? transfer them out and charged RM10 every months?