They compare promo rates as well or only board rates?

Transfer in from another bank is consider fresh fund.
So you moved your fund from Bank A by TT, cheque, instant transfer, or IBG to another bank B, and then back to bank A by any mean of transfer, the said fund should be consider fresh fund to bank A.

Have done online instant transfer from OCBC to another bank and then back to OCBC via online instant transfer to open the 4.5% 12 month promotional FD on the same day. No problem.

I don't think it is loopholes... as long as the money is from another bank, bank has no right to question whether it is the same fund that transfer out from the bank... That's ur money, not bank money... If they question u, then u've ur right to complain...

but affin 4.6% not shown there.

Below is what defined by Alliance whether with BC or otherwise:

Please be informed that “new funds” will be measured based on incremental growth of Total Deposit compared against Previous Monthly Average Balance (MAB). New funds are funds that are not derived from any existing accounts with Alliance Bank or its subsidiaries which is calculated as follows:

New Funds = Today’s Total Deposits – Previous MAB – This Month’s Total eFD