Went to uplift my FD and close account in MBSB today. Was thinking, great, have to pay commission for banker's cheque. So I went there, told them I want to uplift and put in banker's cheque. They said ok. After a while, everything settled and I got a cheque instead! Saved me on commission!

I guess normal banks don't issue normal cheque?

This post has been edited by kmarc: Oct 27 2015, 04:50 PM

https://www.machbyhongleongbank.com/dream-jar

my case is

save 3000 in 6 mths.. each mth put 500

in the maturity, get
3000 capital + 30.25 interest + bonus 12

3042.25 for 6mths.

so izit almost 3% ?

such thing as normal bank's cheque?

Hi everyone - tried to read 50 pages but got a little confused along the way.

Looking for MBB 12-mth pure FD promo (capital & interest guaranteed). What is the name of the promo with effective rate of 4.5%?

Many thanks.

it is not an fd. it is a gia-i account. no capital & interest guarantee. but still can go in.

none from Maybank.

the 4.5% 12mth GIA-i is capital & profit NOT guaranteed. read here

Did you set a target for yourself (rm3k)? Can you repeat the experiment and say set a target of rm3k in 6 months?

target sendiri set

1k 2k 3k 5k 10k.. up to you

Can you repeat the experiment and see if they give same % of bonus?

i am new for FD, what mean by fresh fund and priority banking?
if i have 20K in my saving account, what is the highly recommend FD plan recommend with the protection from PIDM?

Kindly advise.Thanks.

Ya, normal bank cheque!

Oh wait, I just check, they used maybank's cheque!

This post has been edited by kmarc: Oct 27 2015, 05:40 PM

Fresh fund = not money from the bank you want to put FD. Say they want rm10k and you have rm10k in a matured FD. You cannot use this rm10k to put at new promo rates. They want new rm10k. Two ways, give them a new rm10k. or you can do the lowyat forum way. Cash out that matured FD say from bank A to bank B. Goto bank B, get a banker's cheque bring it back to bank A = same money but now counted as fresh.

Priority banking means vip customer. You have a substantial amount with them. Hence you received "special treatment". Don't hope to get it with rm20k.

more like mbsb cannot issue banker's cheque. just giving you cheque from other banks.

even kuwait finance hse not giving banker's cheque starting this year.

have you withdraw from mbsb before?

Nope. This is my first time.... And the last. Closed my account as they don't have online facilities.

I don't think so.
(42.25/3000 x 100%) x 2 (Cause the first calculation is for 6 months) = 2.8166666%

But i put in every mth 500...

So u need to use 500 to count..

500 6 mth
500 5 mth
500 4 mth
500 3 mth
500 2 mth
500 1 mth

Complete... 6 mth. 500 pay on beginning.

This post has been edited by Bonescythe: Oct 27 2015, 06:24 PM

But we are counting the final. Cause they won't pay you bonus if you didn't reach target. Base is 2% Besides you want to save rm3k. We want to see how much interest + bonus will rm3k generates.

This post has been edited by Ramjade: Oct 27 2015, 06:28 PM

Haha.. good luck on your maths.. like this u sure fail..

Go use Time value money calculator la

Please show your calculations. Would like to learn.

Ok la.. let u win this time because I started with 3k and aim for 3k.. so my 3k is parked there for 6 mths instead of 500 monthly for 6 mths. Just dig back my record and see..

So it is 2.816%