I have posted about the changes in the OCBC 360 thread. I guess not many people saw it there, so here it goes: -

Noted with thanks. I was not aware the changes come by the removal of OCBC credit card bill payment and so on. So it means the loophole is now closed too. I am still using the OCBC Titanium MasterCard to buy KLIA Express tickets every month to get the 20% discount and had always made 3 split payments to the same credit card account to get the bonus interest for bill payment. I guess that no longer works now. Good thing they now consider IBG to other banks as bill payment but might have to look for alternatives again when the free MEPS instant transfer ends.

This post has been edited by MilesAndMore: May 28 2017, 06:08 PM

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Sigh..

wow, thats a real whammy

RIP. Soon gone the good days.

which means can't pakai the loop hole?

So, GIA is not a product with flexibility anymore, anyone else has recommendation for similar products? (even with lower rate)

Already posted 3 replacement. Have your pick.

so no flexibility, lower interest rates than before, no PIDM, more restrictions and you want me to keep it there? no thanks. i'm out. thanks while it lasted.

So, should I withdraw by 16th June or 1st August?

You are welcome. I have also been making 3 split payments to the same credit card account to get the bonus interest as well. Now need to find other ways to get the bonus interest. IBG payment to other banks' CC or loan account is considered bill payment. Not sure if IBG to other banks' CASA is considered as bill payment or not. Is IBFT included as well?


Can consider Bank Islam's Wafiyah Investment Account. The rates are even higher. I shared it here before: -

June 16 if you don't want the 3% interest. You can try the loophole. Put 60 months and

Is there flexibility without penaly? If no, not worth it.

Noted, then I will withdraw on June 16th. Gotta read more for FSM.

I'll pull out my money all together by 1st Aug.

Even at 3%, I still like the flexibility. RM 50,000 the different for that 0.45% works out to be less than RM 30 for the 1.5 months. I'll still go for the flexibility till then. After that, most probably CMF.

If I pull out on 1st August, my profit will still be calculated based on daily basis?

I think should be before 1st of August..as new rules apply start 1st Aug

Not sure if my thoughts are correct.

Withdraw before 16th to get current 3.45%.
After that make a new placement and wait until 1st August to withdraw and get 3%.

Am i on the same page?

bye2 gia, back to normal eFD .. got interest last few day, and decided not to go with gia anymore.. u will be missed.. lol..

Investment Redemption and Suspension
8.1 The IAH may redeem the investment at maturity where the IAH may receive the principal investment
amount together with his/her profit payment (if any) arising from the investment activities undertaken by
the Bank.
8.2 The IAH may reinvest the available principal investment amount together with the profit from this
investment for such further tenure with the expected profit rate as may be determined by the Bank.
8.3 The IAH may receive a sum of less than their initial investment if he/she redeems all of the investment
before its maturity. The IAH shall receive the actual amount depending on the market value of the
underlying/allocated assets which the investment is linked to at the point of redemption less any charges
payable, arising from the premature redemption.
8.4 No partial redemption of the investment before its maturity is allowed by the Bank.
8.5 Profit payment for premature redemption will apply the actual profit rate or the expected profit rate
prorated based on the actual number of completed days, whichever is lower (if any).
8.6 Notwithstanding clause 8.5, the actual amount paid to the IAH will depend on the market value of the
underlying asset of which the IAH‟s investment is linked to at the point of the pre-mature redemption.
8.7 Notwithstanding the foregoing or anything contained herein, the Bank shall have the right to suspend
any redemption of Wafiyah under any of the following circumstances:-
(a) market wide failure or financial/economic crisis which includes but not limited to stock market crash
or asset-price crash;
Appendix 3
4
(b) exceptional operational failure such as wide-scaled black-out or system failure;
© underlying/allocated assets shall not be capable of being liquidated at appropriate price;
(d) the IAH‟s interest will be at jeopardy if redemption is not suspended; or
(e) any other event or circumstances which the Bank may at its reasonable discretion determine.

WARNING:
THE RETURNS ON THIS INVESTMENT ACCOUNT DEPENDS ON THE PERFORMANCE
OF THE ALLOCATED ASSETS. THE PRINCIPAL AND RETURNS ARE NOT
GUARANTEED AND INVESTMENT ACCOUNT HOLDER RISKS EARNING NO
RETURNS AT ALL OR LOSING PART OR THE ENTIRE PRINCIPAL SUM INVESTED. THIS
INVESTMENT ACCOUNT IS NOT INSURED BY PERBADANAN INSURANS DEPOSIT
MALAYSIA.