I placed fd with ocbc yesterday by cheque. So it show on the cert effective date 22/12/15.

But my home bank still wasn't debited when I check the balance this morning. Let's say it takes 2 days to clear the check, does this mean that while my fd interest is ongoing, I still earn 2 days interest from my home bank account until the cheque is cleared??  Just curious how these things work.

Went to place the 4.5% at OCBC and got my second 360 SA closed without penalty. FD placement is very smooth and fast, already on 2 occasions. So perhaps my frequent feedbacks are working. Made an inquiry about joining PB but was referred to a male RM..so maybe next time   

Gud idea but u may forego opportunity cost 'in between'

I placed an FD with 4.6 % interest per annum, in Affin Bank, about one month ago.

Upon FD maturity, can both the principal and interest be automatically transferred to my Affin saving account, without me going to Affin bank again?

The Affin officers could not give me an affirmative answer.

From my own personal experience, banks which offer good services include UOB, OCBC & PBB.
Banks which provide bad services include Maybank, CIMB & Alliance Bank. Maybank is arrogant and opening account there is quite troublesome.

The worst is Alliance Bank. My sister and I went there to open a basic savings account once to take advantage of the online FD promo that was going on at that time. The counter staff had no product knowledge whatsoever and was arrogant. She said no such promo going on and FD cannot be placed online 1. She said there is no such thing as annual fee free basic savings account. She said all accounts also need to pay for the ATM card. Later another staff told her there is such an account  

Anyway, we still insisted to open the savings account so we can place the FD online ourselves. They did not want to open the account for us so they make it difficult for us by giving all kinds of lame excuses. Finally, I was rejected and the reason given was because I was not working at that time. I had no problems opening basic savings account in other banks even when I was unemployed. My sister was working so they cannot use that as an excuse to reject her, so they said she needed an introducer to introduce her. What? Introducer to open a basic savings account? It's not a current account or some premier account. It's a basic savings account for crying out loud. So, we left after that and did not bother to open any account with this stupid bank.

That is from my personal experience, your experience may vary as sometimes, it may depend on the branch or staff serving you.

curious, how does the bank "calculate" the extra 3 days interest?

manually calculate the 3 days' interest? or extend the maturity to 4 Jan instead?

whats the next plan goat? HL 4.5%?

i see , so pay rm100 to open account and just leave rm20 inside。 ok ok thank you. 

It depends on the maturity date of the FD.

1) Some banks fix the maturity date, disregard it is non-working day or not.
2) Some banks will adjust the maturity date according to the working day.

For 2), the interest is counted based on the day completed, so extra day interest is counted.

For 1) if the FD is matured on 1 Jan, the interest will be counted until 1 Jan, then the FD is deemed rolled over or auto-renew on 1 Jan. So by 4 Jan, you have 3 days interest, that whether bank is paying for it, this I cannot answer already.
As for my experience, I did ask for the extra days of interest before, due to sudden holiday before (the FD matured on a date was announced as sudden holiday), the teller asked the officer, the officer give nod on it to give the extra 2 days interest.

aiyo...gibe maths question. .. curious curious mesti work out . dapat jawapan 226k +-. 

The last time I din give up and they gave me the interest . But kenot remember if it was RHB or another bank, the rate they use is the board rate and not the promo rate of the FD in question . But like you said, enuf for nice dinner with loukong.

already banned RBH in my list, service lousy, branch manager empty vessel, ask question they tell you to call their hotline, damn slow processing. nothing good about them.

A relative of mine claims that HLB is offering 3 months 6.88%p.a via phone, she will go branch and ask, it will be great if its a pure fd

Ok thanks. Next month have a few fd  for deposit short term.

No plan, suka put here, suka put there

http://www.enanyang.my/news/20151229/%E9%9...90%B8%E8%B5%84/

sorry to those cant read chinese

in short the news article mentions escalating loan-to-deposit ratio, where 6 banks are with ratio above the 90% usual comfort level - mbb, ammb, cimb, rhb, affin and pbb

that explains why banks are deposit hungry lately..

One of the local newspapers mentioned today  banks are short of fund for loan, competing for FD. Looks like the rate may go up in Jan. This is purely banks competition but in the near immediate term, I still think BNM will need to reduce rate to boost the slowing down of economy. GDP next year projected 4-4.5% down from current 6+%, currency expect to drop further to 4.5 to 4.9 range due to dropping oil prices, political scandal, high national and household debt. Property sector would expect to face near zero growth next year.

Since when 4.9? I just did my online US shopping, it's is only about 4.4.

You said exchange rates. Current market exchange rate is about 4.3. Banks will usually charge extra 0.1-0.3 extra to make money.

Anyway, I recommend you to deposit in USD for your kids education fees as it's about to go higher next year (fed wants to increase the rates until 1.25%. Oil is going lower.). Better than putting FD (hedging the USD)

Anyway, this should be discussed in the USD/MYR thread.
https://forum.lowyat.net/topic/3793092