Mine one already being recalled prematurely by the bank.

This is the disadvantage of invested into "callable" product.

I can't find the info, anyone can confirm this is available to all branches?

Its website doesn't have it either.

I need confirmation in B&W.

As, I don't want to go to branch and prepare to deposit, only found out, not available throughout or staff not aware got this promo.
I don't want to waste petrol, toll fee and time.

It is per account entity, not number of account.

A&B has account with Bank Y
A could have 2 personal account
B could have 3 personal account
A&B could have another 2 joint account

In the end of day, A got 250K and B 250K coverage through Bank Y.

One is better worry about your job security, monthly wages payment etc other issue, instead of worrying of needs of PIDM coverage.

If PIDM need to be invoked, the state of economy could be too bad until financial market become chaotic and mess already.
Just like what happened during 2008 global financial crisis. (PIDM still didn't needed at that time).

Some amount may not significant to justify to shift it around.
Eg.
Board rate 3.3%, promotion rate 4%.

If a depositor only has 10K, might as well renewed at board rate if not convenience and no time to do it at bank.

10K only extra RM70 pa., taking an unpaid leave, time wasted, petrol and toll fee incurred, may already cost such a money already. So, in this situation, there is little advantage for them to purpose shift the money around.

A lower renewal at board rate will always at the bank advantage.

But as compared it is miles better than saving/current account that carry little or virtually none interest, which consist of no less than 20% of the bank total deposit.

You cannot squeeze every drop out of it, money cannot buy time and convenience, while for some sleeping well at night with deposit at certain bank they preferred or feel confidence.

I once get annoy with a bank that need me to queue more than 40 min and almost took an hour (despite only got a few customers) to complete deposit a FD, while from time to time always got "offline" troublesome issue on their computer front, whereby certain transaction cannot be done due to offline status.
Since then I never go back to the bank, disregard what its promotion rate

Promptly done and efficient service can be another crucial factor for customer as well.

You need to wait one year to get the extra RM50/60, not one day.

Different person has different situation.

It is not about one day pay sometimes, the one day off may result the sales person to miss out a client that worth a couple of hundred or even thousand commission that can be made or may even lose out a client long term.
Your client phone you want to get some part, you can't tell your client, today I offday to the bank to do FD, hence only can come tomorrow, business can be gone already.

While for a production supervisor, the off day may result in operators miss-handling the machine due to lack supervision or guidance, that result in loss of a couple thousand to the company, as well as performance merit.

You can't judge everything just because extra 0.x% in FD deposit.

Imagine you are the employer, your worker tell you, he/she wants to apply a leave because his/her want to go to the bank to renew the matured FD at promotion rate that got extra 0.x% at month interval (got several FD matured at each month), how do you feel or see from employer pov, as compared another person only go to bank at his/her convenience off day that doesn't need to apply leave from company.

Not everyone has free time or can purpose off day or off hour to do those banking stuff one.
There may be other more importance agenda issues on hand for the daily job.

That's why there are many FD being renewed at board rate as well.

Not everyone has the "luxury" to shift the FD around at their convenience.
Need to give and take in between.

Even for high income earners or employer who may be busy to see client, trip to outstation, business nego etc.
No time, no convenience, just let it roll over automatically at board rate.

FD rate won't go too high (more than 5%) without OPR hike.

You need OPR hike in order to see FD in the range of more than 5~6%.

If Fd offered rate is 6%, banks might as well resort borrow money from Klibor, instead of taking deposit from FD.

The gap of FD offered cannot go too far from the OPR/Klibor.

A question for those familiar or existing OCBC account holder, can FD being withdrawn cross branches?
and if can, is there any limit?

New to OCBC.

Reason, attracted by the 4.5% FD.

Thanks for the info.

Convenience is one of factor to consider.
0.1% difference only worth a couple of ten RM pa, which if taking in petrol, toll fee, not much difference already.

Just know that UOB comes out with a better rate for
12 months at 4.4%.
6 months 4.2%.

This is old school and dinosaur history that no longer exist today.

So far, it doesn't show in their website nor came across in their branches.

Long time has not deposit with them, due to little promotion for deposit.

May call tomorrow.
Ty, for the info.

Currently max interest rate is about 4.5~4.6%, no way bank will come out promotion of big jump in rate to 5.5%.

4.7~4.8% is already super attractive enough, doesn't need to raise it until 5.5%.

Likely it is a step up.
You look at effective rate, not step up rate.

100k 4.25% pa, interest only 4,250.
How can be monthly can get 2,125?

6 months get 2,125 sounds more right.

Latest bank stat (Oct)) of loan growth of 9.1%, while deposit only grew 3.7%, may suggest elevated promotion FD rate may stay for sometimes.

The deposit growth pace is not enough to cater the loan given out pace.

Just shared the experience on FD matured on a "sudden holiday" announced last time.
FD was matured on that day, but due to "sudden holiday", bank was closed.
On the next business day, went to uplift, the officer automatically gave the interest on those non-working day after being questioned by the teller on the situation.

Bank with letter starting with P.

I do not see any loan interest rate given out current is lower than 4.6%.

Those many personal loan or HP out there there that quoted below 4.6% is not an EIR.

Banks won't make a loss business one.
No way one can borrow from bank at a rate lower than FD, then deposit in FD and earn a money,

A little chit chat and making fun are no harm, just don't go overboard until become like Kopitiam talk.

So I urge everyone's corporation to make this thread a useful and informative thread to be read upon.

Ty.