it's confirmed. I went to Menara UOB just now.
FD 4.5% 12 months

the banker also say if put into bond 1:1 with FD, FD can get up to 4.9% pa
bond is 3 years with past record of 20++% return in 3 years.

Bond can be doing badly when interest rate environment is raising.
It is not guaranteed.

Bonds shine for the previous few years due to massive QE, it doesn't mean future will be the same again.
Mind that some low quality bond can be defaulted if economy situation going south time. whereby one can make a loss in investing bond.

So it is different preposition to be compared to FD.

confirm got. i just asked my uob staff.

Just came back from UOB Puchong. Placed 12 months @ 4.5%pa.

Then went to OCBC to withdraw a matured FD. Took 40 minutes just to conclude an FD withdrawal. I do not understand why I have to go through Personal Banking counters, before proceeding to the normal transaction counter to collect. I blew my top when after waiting for close to half hour, someone who just came in, took a number and immediately his number was called. I went to the girl who was issuing number and asked "Why I do have to wait for a personal banker just to conduct an FD withdrawal?". Straight away she went to a guy colleague who then went to a counter to call my number. WTF service is this. I can't wait to have all my FDs matured in OCBC before withdrawing.

try getting their online banking. upon FD maturity, withdraw online.

Thanks for the reply guys. Will drop by to UOB tomoro for FD placement

I'm just sayin, UOB offer up to 4.9% pa for FD, if you willing to put 1:1 amount on their bonds.

I'm not sure I want to put in bonds or not. haven't put my money in UOB yet because i didnt bring enough document.
The banker show me the bonds are mainly triple Bs from energy and real estate companies.
but bonds are the lowest risk securities right?

Never experience such thing for FD upliftment. Everything done at the teller side, usually less than 10 mins.

Triple B rating bonds is not something we called lowest risk securities...
Triple B rating is just a notch higher than junk bond rating, as below triple B, market classify them as junk bond already.

If said sovereign bonds then may be can justify, but it is impossible to get 20% return over 3 years, with high quality sovereign bonds.

Bonds = a loan to the company, aka you borrow money to the company.
If the company has financial difficulty to pay off the loan, then the bond defaulted, aka borrower won't able to get back their money.

Anyway, this is OT from this FD thread, can post via in another specific bond thread.

As usual, if don't know/understand fully, don't commit anything, don't just for the sake of extra 0.4% FD, then venture into some area one is not familiar with.

totally agree with you bro.
very educational.
thanks for the advice

Do i need to have a saving account with them to open a FD account?

no need sa just open fd acc .

This post has been edited by poor man: Mar 23 2016, 05:01 PM

Without SA... how to transfer 6-figure amount from another bank?... use banker cheque?

Cash is good, only 10 piles of Rm100 notes for 100k

The correct answer is depends on the bank/promo. Check the terms and condition, some will require.

X10 for 1kk. is tat how u deposit in mach last year?

yeah, took me forever dragging the luggage around.

let me know the next time u do it. be there helping u to place in other banks fd (my share)

and have to pray hard no one follow our car...

Bank draft, ib, etc..