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Fixed Deposit Rates In Malaysia V. No.10, Please Read Post #1 & #2
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poi2005
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 Dec 7 2015, 02:19 PM
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Apologise if this question has been asked before.
Do you guys transfer out ur FD money to another bank and back to the original bank to consider as fresh funds?
My PBB FD is going to mature soon, thinking to get the year end promo, however fresh funds only, so means I have to transfer the money out to other bank then back to PBB again to qualify the year end promo.
Is there any other better way to qualify as 'fresh funds'?
Thank you.
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poi2005
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Dec 7 2015, 03:13 PM
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QUOTE(wil-i-am @ Dec 7 2015, 03:05 PM) Better check as different Banks having their own definition of 'fresh funds' I was told by PBB, the funds in my account will not consider fresh funds, so IBT from other acc or bank will not work. The only way is what Ramjade said, TT to another bank, issue a BC again. Like that, I would rather ask PBB issue me BC from my FD withdrawal, i go other bank for their FD, since the rate is almost the same for most bank now. |
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poi2005
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Dec 7 2015, 05:54 PM
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QUOTE(safilo @ Dec 7 2015, 04:38 PM) 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 am not too sure about OCBC, but for PBB their T&C has mentioned "Fresh funds refer to funds that do not originate from existing deposit accounts(includes saving/current acc) of the Eligible Participant maintained with PBB or PIBB", and also, daily limit IBG/Instant transfer of RM10,000 per day. Btw, you open ur promotional FD rate online or via branch? Because, PBB promotional rate must do it via branch (cant find it in their poor online banking service) This post has been edited by poi2005: Dec 7 2015, 05:57 PM |
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poi2005
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Dec 7 2015, 06:54 PM
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QUOTE(safilo @ Dec 7 2015, 06:16 PM) OCBC Promotional FD have to be open via over the counter as the same with most banks. However, OCBC promotional can be uplift via online. That's good. PBB all have to done via branch. Even checking a simple transaction details also ask me to go branch, I don't know what the call centre is for. |
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