You count the effective rates. It will be less than what their competitor give.

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

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

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.

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

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

Please show your calculations. Would like to learn.

Please I want to see your calculations. Cause you tell me 3% and Hong leong is one kiamsap bank (look at their FD promo, usually not competitive). So it is kind of hard for me to see that they are suddenly so generous with their savings account. I could learn a new thing.

Hong Leong mach money jar. Base interest is 2%. They will reward you with extra money if you can reach your savings target

This post has been edited by Ramjade: Oct 27 2015, 07:21 PM

Set any target and duration. Base interest is only 2%. That's why I want to see how it can get 3% Hong leong is not a generous bank. That's why it surprised me when bonescythe said they giving 3% interest for their SA.

I know. But if it is able to give 3%, I might consider it over Truesavers. Remember my goal is not to give banks free lunch.

Since when? Unless I am outdated, pidm protection is max rm250k/account. Why did you ask? I could be outdated.

This post has been edited by Ramjade: Oct 27 2015, 08:29 PM

Well it doesn't concerned me. Don't even have RM250k to play with. But rest of the Unker here will be very happy.

My almost 3% is 2.9X+ % la. where x is >=5

Yes that's true. However you must notice that you need monthly commitment of certain amount. Second, they didn't specify how much is the bonus one will received. Up to the bank to give. Third, if one cannot fulfilled the monthly commitment how? Fourth if one does Not reach the target how? Will they penalize you by not giving you the bonus? Like that banyak susah lo. Fifth, if like that, I could go for ocbc smartsavers but didn't go for it. Interest banyak tinggi. Why? Because I need to withdraw the money out. If I withdraw, interest become 0.5%. Ini lagi teruk.

Nope. Only max rm250k is protected. Unless the new rm500k one is implemented.

But you don't need to worry yourself. So many Unker here have deposit >RM250k, why are you scared.

This post has been edited by Ramjade: Oct 28 2015, 06:49 AM

I don't think it works that way. I think goes by name. People here debated about it before. I could be wrong. Wait for more Confirmation.

Btw, no need to be scared. So many unkers here with priority banking and >RM250k in deposit, they are not worried. Why small kuaci like us need to worry?

Bro, they already discuss here before. Pidm doesn't have enough money to cover all depositors in malaysia. Is just for you to "feel good"

I don't think so. Cause if I have rm250k in my own n account, then I open a joint account with rm250k, I am entitle to protection of rm500k? I dont think so.

Then I am right.
A have rm250k in own account
B have rm250k in own account
A&B have rm250k in joint account.

Total protection is only rm250k for A and B respectively.

Like Cherroy said

So where am I wrong? A and B can have 10 accounts but only received rm250k/person protection = protected is by name not the number of account.

This post has been edited by Ramjade: Oct 28 2015, 09:56 AM

HSBC 3 months and new customer only. Maximum returns is rm30k since you can only place once. After 3 months, you need to close account or else HSBC will charge you.

For me, I will dump into ASX FP. No need to keep chasing FD promo. In the process of transferring all.

Depends on how long you want to lock your money up. For me personally. I will pick ambank 2 years or ambank 5 years. Couple it with ambank Truesavers to boost your effective returns to >4.6% and >4.55% as interest will be paid every half yearly unless you are >=50 years old where interest will be given every month. You can check my post few pages back which shows the effective rates of one were to use in combination with Truesavers

This post has been edited by Ramjade: Oct 28 2015, 11:40 AM

Nope if you are aiming for the note. If putting that, you are giving public bank about freelunch worth of about RM800.

Refer to my previous post.

This post has been edited by Ramjade: Oct 28 2015, 02:12 PM