Hot, hot ! 

MBB FD promo from 5/12 to 5/1/2018:

15 mth 4.3% min 10k fresh fund

6 mth 4% fresh fund, 3.9% non fresh, min 10k

3 mth 3.88% min 25k

Looks like MBB wanted to capture the FD market !!

So tomorrow looks like I have to move my OCBC fund to MBB !! Instead of AmBank or UOB !! 

good! if my mbb placement not happened, i'll put back in again 
exactly. but 1-2 days would be fine, i think. today uplift from hlb efd, then transfer to mbb savings. tomorrow perform placement OTC.

few days difference, negligible to me 

for min RM10k, difference not much anyway.

but i'm putting more than that, so the return is slightly higher, and justifiable (for me  ) to uplift from HLB eFD and put in MBB FD.

Are you asking what is the actual implementation of the following Hong Leong T&C for their Payday eFD promo?

13. In the event the eFD / eFD-i Amount is uplifted prior to maturity of the eFD / eFD-i Tenure, Section E(v) of the Association of Banks in Malaysia (“ABM”)rules (for eFD) / Section 2.15 of the Terms and Conditions for Hong Leong Fixed Deposit-i (for eFDi) shall apply:  (a) No interest/profit is to be paid on any eFD / eFD-i Amount uplifted before the completion of three (3) months.  (b) In the event the eFD / eFD-i is uplifted in the fourth (4th) month onwards, the Eligible Customer will receive interest/profit earned equivalent to 50% of the contracted eFD / eFD-i Amount only for the completed months. 

HLB / HLISB reserves the right to claw back and deduct an amount equivalent to the interest/profit paid to the Eligible Customers in respect of the eFD / eFD-i Amount which is prematurely withdrawn, from the principal eFD / eFD-i Amount upon withdrawal. 

HLISB Customer(s) shall be deemed to have agreed to waive his / her right to claim the full selling price for any withdrawal of the eFD-i before the maturity date.

In cybpsych case, he obviously falls under 13. (a).
There is no interest creditted to cybspsych at all yet, and also nothing is due for the few days from the 1st of December when he placed the eFD. Thus there is also no clawback of interest at all.

Your question may be because you wish cybpsych to confirm that he did not suffer any other penalty or losses by doing an early eFD uplift, and he got back his principal in full. Subsequently, you may wish to follow his example and redeem any HL Payday eFD you have?

The minimum was only RM 1k (not 10k) and the much more placed by cybpsych is limited to a maximum of RM 2 million.
If the placement was at RM 300,000 (10 FPX at 30k each), then burn 4.2/100  x 300,000 x 6/365 = RM 207.12
as foregone interest.
Since the Maybank 4.3% promo is not under free FPX, some transfer charges may be applicable.

You do not think it will go higher later?

Basic savings account is the best because you don't get charged annual fee. That RM20 in CIMB for example is still your money, not charged to you. If you ever close the account you can get it back.

for PBB, you can choose BSA without ATM/DC. however, they still issue you the booklet instead. no issue with Internet Banking.

for HLB, you can choose BSA. staffs tried hard NOT to give me BSA, but after much insistence and threats to them, they finally "figured" it out BSA is "available" in their system. no issue with Internet Banking either. they will issue a DC but without any fees attached.

most, if not all, banks claims you need ATM/DC for Internet Banking, with the reasons of creating temp PIN at ATM machine.

however, in both banks above, I created the Internet Banking account/profile at the branch after opening BSA.

Ambank 4.3% 12m still available?  Until when?

Got 1 FD maturing next week, still waiting for better promo since rate increased.

fuel + parking + time - 0.18% (4.48% vs 4.30 hlb online)

unless big sum of money

Aiming this..... Promo still on?

Use Maybank FPX transfer after 12pm, HLB eFD will get the money instantly?

May I know if I choose yes for auto-renewal, what would be the FD rate upon renewal?

Thanks

This morning contacted AmBank for 12 mth 4.38%. The ABM asked HQ and got the approval. 

Thanks for the info provided by one forummer. 

Yesterday went to AmBank to uplift FD. Their promo only 4%.

Went to BR with nego rate of 61 mth 4.8% monthly interest.