Bro, never say never

Last month I mentioned here that Affin Bank renewed my matured FD and gave me their Promo rate of 4.2% 12 months. All I had to do was talk to the Service Manager.

For UOB case - yesterday I had 1 FD maturing and another 3 next week. My RM told me that she will request 4.5% 12 months for all 4 FDs and within 15 minutes she told me that she had received approval from HQ for all 3 FDs. I am sure you are aware that UOB current promo is 4.4% for 12 months (if not, see Post#1). Therefore, I got higher than their "official advertised" Promo rate!

This post has been edited by Gen-X: Dec 22 2015, 02:33 PM

Bro, all my FD are joint accounts where anyone can sign. I know Alliance Bank, HLB, Maybank and UOB Bank can instruct that Principal plus Interest be auto credited into CASA (not necessary joint account) at the time when placing the FD.

UOB can even instruct mid way before a joint FD (anyone can sign) mature and deposit the principal plus interest into an individual CASA account, just need one of the signatory to sign some forms.

For HLB case, if the FD is joint account (even if anyone can sign), at time of placing FD, the bank technically only allows the principal and interest to be credited into a joint CASA account (with same names). But if all parties to the joint FD account instruct the bank (all parties need to sign a form) at time of placing the FD, the principal and interest can be credited into any CASA account.

The thing is we are all talking about FD Promotions which have additional T&C. And in most FD Promotion, it is stipulated that the Principal MUST BE ROLLED OVER with same tenure at board rate. Therefore, we cannot instruct that the principal be credited into CASA upon maturity when placing the FD. We can go to the bank on maturity date and withdraw the principal and have it credited into any account. I guess why this is possible for UOB is because their FD are Statement Based and no certs are required to be presented.

Having said the above, some banks will allow you to instruct them to credit the principal sum into CASA right after you place your money with a FD Promo (where it is stipulated that Principal must be rolled over) or anytime after that before maturity, e.g. UOB. AFTER the FD Promo is captured in UOB's system, you just need to sign some forms and instruct the principal to be credited into CASA upon maturity. Of course we may still need the biometric verification and this can be done when we sign the instruction form(s) and not necessary at the FD Promo maturity date.

If not mistaken, gsc has also done the same with OCBC (which is Statement Based) where he will instruct (on paper) his RM what to do with his money prior to his FD Promo maturity date.

For Cert Based like HLB, we can always pre-signed the cert and hand it over to the bank officer. Biometric verification may be required. I have done this several times (when I am going overseas and have a FD maturing) where I would sign the HLB FD Promo cert and pass it to the HLB Branch Service Manager few days before it matures with my instructions (letter and have him/her acknowledge receipt on a duplicate) prior to maturity date.

This post has been edited by Gen-X: Dec 27 2015, 03:17 AM

For now, UOB December's FD Promo extended until further notice.

3 Months - 4.15%
6 Months - 4.2%
12 Months - 4.4%

But my RM told me the 4.5% for 12 months I got in December is no longer being offered (for now).

I guess the banks are checking each other out before releasing their new Promo and by end of next week, we can expect CNY FD Promos.

And if you have yet to check out my new blog - click here to visit www.GenXGenYGenZ.com.



This post has been edited by Gen-X: Jan 4 2016, 10:25 AM

Early this week I mentioned that my RM said no more 4.5% 12 months which I managed to get in December, Well, yesterday she offered to me again when I wanted to withdraw my maturing FD with UOB. But I did not accept the offer and took the funds to HLB.


At HLB, I faced some problems back in December and yesterday. You see, the HLB 4.5% FD Promo interest must be credited into CASA. I have HLB Joint FD with my son and wife and wanted the Interest to be credited into my wife's Savings Account. But the teller said that the interest must be credited into a Savings Account with 3 of our names.

To learn how I overcome the above, please read my "story" at my Facebook Page where I willshare with you tips which you will find very valuable for FD Promos requiring us to credit the interest into CASA:


https://www.facebook.com/GenXGenYGenZ

Those of you wanting to deposit with Hong Leong Bank 4.5% 6 Months FD Promo, better do it fast, reaching quota of RM3.5B.

And if you are placing your money into a HLB Joint FD but want the interest credited into a Savings Account that do not have all the same names as per the Joint FD, click here to read my Facebook Post dated 7January 2016 where I shared a few tips as to how about going around it - for a single FD placement or for ALL future FD Promo placements too.

As usual, I hereby present to you a side benefit of chasing after FD Promos where many of us end up having many FD accounts with various banks.

Presenting to you, Chinese New Year Red Packets from Alliance Bank Privilege Banking, Hong Leong Bank Priority Banking OCBC Premier Banking, RHB Premier Banking and UOB Privilege Banking.

Ang Kau Ang Pau Lai Lai Lai

Ah SiAnG. I noted there is no UOB rates in post No.1, here there are:

UOB Bank Fixed Deposit Promos until end February 2016.

4 Months - 4.00%

7 Months - 4.15%

12 Months - 4.25%

I forgot to ask my RM minimimum fund amount, haha.

BoomChaCha, Affin Bank rate really good

This post has been edited by Gen-X: Feb 16 2016, 01:27 PM

What 10 mil man and what is tun ram? Yeah, just updated my FD Page today as I returned from Melbourne a couple days ago.

hahaha your tun ram to me is the rich obedient school kid that listen to his mummy I thought you might be referring to Datuk Seri Gopal Sri Ram and he may have been recently bestowed the title of Tun, hahaha.

Well Bro, my net worth is no secret as I have mentioned it in my Online Profile for years. It's still 9 figures...... in IDR, hahahaha. Anyway, you graduated or still in school? Sorry OT guys but Ramjade and me go a long way back and just want to know his latest status.