It's actually bloody good 5% p.a. It's even higher than my housing loan interest.

Gonna give it a go. But mafan abit la. Thanks!

This post has been edited by METALRAGE: May 5 2016, 03:30 PM

I SMS registered on 15 May 2016 (Sun). Today, 16 May, I transferred out my funds from my PB FD to another bank via OTC IBG so that I can transfer back in the funds to PBB tomorrow. Because 5% interest rate is even higher than my refinance housing loan.

While waiting, I casually checked with the branch manager, they said money transferred out and in again will not be counted, because PBB knows I took money out from PBB to put it back into the SA. And that will be tracked across all my accounts I maintain with PBB, not just the SA in question.

This, I'm not pleased to hear because it wasn't stated clearly inside their product disclosure sheet. It just said fresh funds. And in previous banks, I had done this before and it works.

I guess being Chinaman (don't even have an FB page), PBB is just a bit too clever. But they did not consider how pissed off a customer like me would be for wasting effort and foregone interest to find out at the end of the campaign period i got a big fat zero. It's a good thing I checked!

I think I'll keep my money out of PBB for now. Perhaps for good.

Those thinking to do the same thing I did, be warned.

Thank you good sir.

My funds were never in my CASA. But they were in PB FD, which i instant transferred out to another bnkvia IBG over the counter (Never passed my PBB CASA). In this case, the bank manager said money transferred back in won't be considered. I have to top up beyond what I transferred out today.

I called up their general hotline and the person over the phone confirmed this is her understanding as well.

For all the effort and foregone premature upliftment of FD, I am quite unhappy. I had done something similar with Hong Leong and Alliance in the past and it was fine (Transfer out and in the next day).

PBB should really clarify this in their T&Cs. I wonder who the product manager is.

TQ. Indeed I missed out that clause.

Im not here to flame you but would like to set things straight, since one of your earlier comments called me out for being stupid.

1) I made a calc on fd early withdrawal foregone interest. Do u know how many days interest was foregone for you to make the assumption tht it is less optimal? No.

But i do. And from my calc then, doing that for pbb 5.5% p.a. (hell even if just 5%p.a.) for even 2.5 months still comes out tops. Hence, i withdrew to transfer out n wanted to transfer in next day. But only found out those types of funds are not counted. So i ended up wasting those few days interest.

I didnt fail at calc. I failed at minor tnc.

2) There are other liquid sources of funds. Redraw facilities of loans. Trust accounts in brokers, money market funds that do not incur penalties and can be withdrawn in 0-2 days TAT.

If someone like aeiou can swing 300k at the drop of a hat, chances are he is pretty savvy about money.

Drop the condescension.