Can I know if I open an FD account with a particular bank - I would also need to open a SA to have the interest and FD amount to be credited when it matures (lets say 12 months) - and after that i withdraw all and want to close the account.. will I have to pay to close?

Hi all..

Can someone help clarify the steps to move funds for FD. For e.g. if I have RM50k in Maybank and want to open an FD with OCBC, I understand that I can use Rentas or Giro. But how does the account opening at OCBC work? Do I just walk into OCBD and ask to open an FD account with minimum amount and then go to Maybank to transfer (as I have the OCBC FD account number already)? Also, would I need to open a Savings account first with OCBC and then only open the FD account there?

Any information is apprciated. Thanks.

If I have RM50,000 in e-FD and uplift it and go to the counter and ask to put in FD - this is considered fresh fund? or it must originate from outside the particular bank. Thanks!

If i am looking for FD for a year (12months) and if the promo from some banks e.g. UOB, CIMB and OCBC are all the same - the effective rate of 4.2% for a year - what are the considerations to pick btw them.

I know that these banks got certain elements to the promo - break down the interests rate (OCBC) or unfixed (CIMB) - but lets say i confirm keeping it for 12 months and I am only concerned abt the effective rate.

Is it just about the location/accessibility?

[double post]

This post has been edited by joeaverage: May 9 2015, 01:19 AM

Thanks. good point to consider!

There are few tabs from Huawei.. Anyone knows which model or likely to be based on the value?

Is there a annual fee to maintain the account? Can close after 15 months is up?