This afternoon when to HLB. Have a FD maturing on the 29/1. But I won't be in malaysia on 29/1. Ask can I transfer money to my mother's account upon maturity so she can put affin 4.38 for me as we have a joint account. HLB said cannot. Then asked how much if I were to remove the FD, they are going to only give me say 3 months interest despite the FD have been put for almost 11 months already. This FD, the interest is credited monthly into my SA. So what happen is they are deducting 8 months of interest from the principal if I withdraw today.

Asked the officer in charge (behind the desk, not counter workers), apparently you can write a letter of authorization and upon maturity, the money will follow your instructions. So in this case, I can transfer the principle upon maturity to my mother's SA despite not being in Malaysia at that time.

By writing a letter of authorization, I won't forfeit my 11 months of interest and still able to uplift it upon maturity even though I am not in Malaysia

Just want to report the above incident. Could be useful for some.

I think it means you need to ask PB for the interest than only they will give you the interest. Not sure. Wait for other people to comment.

Well if you don't keep your options open, you will not be able to get the best rates just by sticking with just one bank. Hence this FD promos are called musical chairs because you move your funds from one bank to another to get the best rates.

Thanks for the head up. Please update your blog on CIMB banker's cheque fees. It's no longer free. I posted I think a useful info for some few days back about my experience at HLB. I think you miss it

Well they told me can. Need to use my IC and scan my thumbprint like normal withdraw. After that, they take the cert

Gen-X RM5.15/cheque

I put 4.38% for 2 years for the following reason :

a) not using the money
b) no need for yearly "maintenance"
c) Feel the interest is quite good compare to tothers. The only one with so high interest is Ambank 4.5% for 3 years and MBSB 4.7% for 5 years
d) No stupid CASA which will lower your overall interest rate (effective interest rate)

Just put MBSB 4.7% 5 years. Problem settle.

No uncle goat. You misunderstand me. I did not put 5 years. What I meant was asking [myr.medinsurance] to put mbsb 4.7% for 5 years seeing that he/she is lazy to play musical chairs and wants to put at board rate affin of 3.7%. So tell him/her to put mbsb 4.7%, don't need to worry about musical chairs.

Your FD cert is held by the bank at board rate (damn low). You cannot withdraw your FD unless you can show them proof of income. If you withdraw, your card is cancel

You can show them 3-6 months of bank statement + income tax form. What's the point of puting at 3.3% when other banks offer you >4%?

If you can show them bank statement + income tax, you don't need to use FD.

This post has been edited by Ramjade: Mar 18 2015, 06:30 PM

Yes. Remembered I told you that I tried to apply for a maybank 2 gold card by using my FD?
Q If I withdraw my FD, will my card still be active?
A Your card will be terminated UNLESS you can show us proof of income (bank statement for not sure 3 or 6 months, or salary slip min 3 months)

Hi,

I want to ask for the SCB FD, my mother told me this.



Is this true? I thought it is a pure FD for 15 months with 4.5% interest? The T&C clearly state for new customer. So if I am not a new customer, am I eligible for this promo?

This post has been edited by Ramjade: Mar 19 2015, 05:19 PM

Just bookmark the front page. See what's hot (2nd post). Dump your money into it. Make sure is fresh fund (usually RM10k). Don't go for board rates. Don't go for FD with CASA criteria. Go for the ones with the highest rates. After 1 year/2years, withdraw the money, repeat the above steps. If you don't you are stuck with damn low board rates. There you go. My 101 guide to FD.

If you can open 5 HSBC account with rm30k, it is = to 15 months Account rm150K at 5%

Say, if one get the trolley bag/air filter, one can remove the fd from the bank and put in another place right?

After all, bag/air filter is much more expensive than the loss interest right?

Say, if one get the trolley bag/air filter, one can remove the fd from the bank and put in another place right?

After all, bag/air filter is much more expensive than the loss interest right?

Yup that is what I meant. Say move to affin 4.38. If I am not mistaken the ocbc was 3.9% right?

Bag/air filter definitely worth more than the interest given.

By moving to say affin or uob, one can get the best world. Bag/air filter + high interest.

Am I right here? Correct me if I am wrong

First, I don't even did that seeing that I have no FD with them. This was just a random question which pop into my mind to maximise profits from banks since banks like to maximise profits from us.

I was refering to the ringgitplus promo. Ringgitplus is not a bank. Unless the OCBC bank wrote that in their terms and condition like UOB

Will this rate change with opr like rhb's?