i believe once you have placed at that point of time, they will honour the rate... unless you uplift and place again, then the new rate will come into effect...

Thanks for d insights
Did u speak/clarify with Maybank officer?

so, in this case, they should give me back 3.6% for the campaign rate instead of the revised rate of 3.55%.. i've not check with MBB officer yet, but, i want to know the experience from sifu here...

I need to monitor my int in Dec 16 as it was done otc in Nov 16

This post has been edited by wil-i-am: Nov 25 2016, 08:55 PM

u needs to check back the rate..

get feedback from officers

Ok, I've just drop an email to them.. let's wait for their response.

good. don't forget to update

same rate as the next bank

hmm then just maintain since the rate is same as the other bank

The miniwebtool calculator for fixed deposit is great for normal rough calculation of what to expect. It is based on the normal kind of arithmetic we learn in school and what you can expect from a financial calculator or a normal financial spreadsheet.
Various forum posters had posted about calculated results being different. One person even asked how come predicted/knew it will be 1 sen less from the calculation. Actually a lot more sens and even dollars off had being experienced. The simple explanation is that the calculation and results depends on the bank's program treatment of what is a bank day (or part off to give for some really not so generous banks), the divisor, and how they treat payments made or payments due, and when creditted/withdrawn.
Unfortunately, different banks have different ideas/policies/implementations - or maybe they do not really know what their different programmers and programs are up to actually in the nitty gritty level where things are usually different in many ways as each step is done although results are expected. Most times the banks do not like to lose/pay more generously, but also want to avoid what can be considered outright cheating or extra charges.
We cannot have access to what programs are used and study the quality of the documentation and the program modifications. Most likely, even the bank staff/experts are not really aware what their software vendor has done in real detail trying to comply in their own peculiar ways to the requirements or updates.
However, we can reverse engineer/compute various approaches/scenarios to come to a close approximation or eventually to an exact prediction that matches every time for a particular bank/product.
Just for illustration only:-
Principal 100,000 for 366 days at 1% using simple interest for an FD. What is the result and what do you think you will get at Hong Leong and Maybank. Let us not complicate matters by mentioning other banks at all. Try to explain the results. If you use the miniwebtool, the interest is 1002.74.
If you want to check with a 12 digit calculator, it is 1002.73972602. If you understand the question, and its implications, you will have learnt something basically useful such as questioning your instruments, programs or validity of what is done. If you think the answer is so simple, you can get a distinction in school where things are simplified, but life is not so simple after experience.

sifu, are u saying the interest @mamamia received is correct? he suppose to receive 3.6% but got less than that?

This was what I wrote as likely to happen based on my experience with my Maybank eFD and his calculation appears to back it.
It is great that Mamamia monitors what he is getting and letting us know to confirm my previous suspicion/understanding.

Is it correct? No I do not like it.
But let us go on from here to see whether it is correct or another one of those program / setting problems that need adjustment as per bbgoat OTC GIA experience but translated to eGIA instead. Making mistakes is very much easier than doing the correct thing, so it is up to Maybank to clarify where things stand as to whether it is the bank's actual intention (correct) or it is a kind of mistake (wrong) and adjust if proper.

Of course, I hope Maybank realises the need to honour whatever is promoted especially for the OTC GIA promo as funds are tied down on an expected interest at maturity. I have been told before by bank manager of another bank about actually adjusting down experience during discussion about Islamic products about the absolute reliability of income flow needed to sustain critical requirements.

This post has been edited by Deal Hunter: Nov 25 2016, 06:56 PM

Both my 12 month eGIA placements on 20 Oct 2016 got exactly 3.6% interest on 20 Nov 2016.

This post has been edited by starry: Nov 25 2016, 06:37 PM

I trust it, so far the website predicted amount is match with HLB FD interest given. I set it to 28/29/30/31 depends on which month and simple interest no compounding, and it show the exactly amount.

So I just follow this calculation if I want to know how much interest will be paid.

Btw, maybe u can separate your paragraph like mine, quite hard to read when all combined

This post has been edited by Andrew_1980: Nov 25 2016, 07:00 PM

sifu, uncle goat's case unique. others receive correctly.

it is maybank's mistake, very likely. why & how, maybank only can answer.

this shows @mamamia's case got problem. he ought to ask maybank.

My case is different. OTC the MBB staff used the wrong code, make it like monthly placement instead of GIA 1 year promo rate. They manually paid me the last 6 mths of "lost" interest. Case settled.

Nope, I also never receive anything to match whichever.
What was the rate that they yried to match the next bank?

It seem like MBB didn't honor me the promo rate.. same goes to my friend.. I gonna follow up if they don reply.. seem like I'm like bbgoat case

This post has been edited by mamamia: Nov 25 2016, 08:14 PM

Staff wrongly key the rate

As I said at the beginning, u should call the branch to find out the reason. But I was curious as yours is online placement. So if it affects you, it may affect those that did the placement the same day/time. Anyway, MBB is the only one has the answer.