I actually do not understand the FPX thingy to HLB. If I do not have an online acct in HLB, I cant join the FD promo there? sorry noob

edit: understood. yes i cant

This post has been edited by babysiew: Jan 11 2017, 09:44 AM

Finally received 2 days of non working days interest from HL after 1 week. The branch claimed system issue.

Anyway getting >RM100 free money.

So, ask the banks if your FD matured over non working days like Sat/Sunday or public holidays. Provided u go to bank the next day after that. Though not all banks will entertain that.

This post has been edited by bbgoat: Jan 11 2017, 10:46 AM

Really? HLB got such policy?

No...I miss my 3 days interest. I ask the staff, they pretend like don't know...

Maybe too small amount.

My total deposit is RM13k, so 3 days less than RM5

This post has been edited by dannyw: Jan 11 2017, 10:55 AM

Really !

U have to ask them. Some forummer reported also that RHB and AmBank not giving the non working days interest. But I got it from them as well.

U have to see if the amt is worth the effort. Though for me so far, just say it and they understood and will credit to my SA. They typically have to get approval from BM. Though PBB is best as the counter staff will pay u cash straight away.

This post has been edited by bbgoat: Jan 11 2017, 11:02 AM

ya, just few ringgit, I'm trying my luck to ask only. They act like don't know, I also just let go.

My mature date on 24 Dec is Sat, then Monday is replacement holiday. Only able to do it on 27 Dec.

Anyway, thanks for info sharing!

They typically use board rate for the few days calculation. As it involve extra work, they would try to ignore u. If small amt may not be worth the effort.

Anyone have more information about Maybank promotion ?

Left Islamic ones only. Just placed some.

for step up, the initial principal + interest earned = new principal for next tier? or just the initial principal?

Never that way. Principal remain unchanged thru' the step-up's !

then i wonder why ppl prefer step up? I thought there are some financial thingy tat I am not aware. Liquidity?

This post has been edited by babysiew: Jan 11 2017, 04:49 PM

U better read and understand step up promo T & C, not sure if all are the same. Some people actually do NOT like step up as it make keeping track of the step up interest difficult.

I go for step-up is because the overall interest still decent, nothing to do with step-up by itself. Some step-up allow withdrawal at next change without penalty.

Bank just want people to step in and deposit with advertisement showing highest interest rate in attractive big bold colourful artwork.
Altho we use the word step-up, the more proper term is step. Maybank even had a step-down promotion in 2016.
For those promo with monthly payment of interest, and early withdrawal anytime or at the end of each step without penalty, the attraction of the rates for various steps may depend on its arrangement versus expected OPR changes. Meaning the depositor has intention to jump if it is beneficial. This is on top of the question of whether the actual effective rate (as against the claimed advertised effective rate) is competitive. Anyway this is how it works for me to evaluate and decide whether to take up a particular step FD. Different people will have their own different ways of dealing with the same facts due to their expectations/bias.
Also please note that the various banks may have different terms and conditions. There is no standard and no assumptions should be made at your own risks.

Islamic means GIA which is investment link? not conventional FD right?

I talk to the officer just now, it is not GIA and it is conventional FixD with PIDM..

No, it's just normal FD with PIDM. Not bad la, one year 4%, should be one of the best rates for 1 year and with PIDM already as of now.

Simply explained - it just means having transactions also recorded somehow at places other than the 2 parties involved (dispersed) to ensure that there is a multiple record of the transaction in case some outside hacker or insider bank criminal tries to change the figures and details. Due to the claimed security and lessen need for legal records, minimal cost and greater risks and speed can be achieved for transactions.
This is great for those people who demand the bank to explain why they can't spend or transfer their money anyhow without limit within a short time frame. Of course, there are some assumptions and it is not really foolproof as some so called experts think. If the internet were infected with a virus, it is conceivable all data can be lost everywhere (however few, many, disperse or secure copies of record there really are). But let us not get into the nitty gritty of it. Without paper you can still get a big fat zero and no proof for all practical purpose or intents.
Becuz it is claimed to be much more secure, tamper proof and cheaper, banks and all kind of online businesses using electronic agreements, transactions and payments are interested in adopting it.
Various bitcoin companies as well as scams used it as a means or proving that their records can be trusted with some techno gobblygook. Of course, some police or central banks may not like it for some of their own reasons such as catching and proving the criminal/s at one end of the parties involved.
It is highly probable that most banking, FD, credit card, debit card and trade credit documents, unit trusts, insurance, forex and bullion activities will shortly be conducted thru blockchain method.
And Yes, it is highly important for people to understand this fintech especially how it can be abused or properly used- especially those with a naive trust in technology and big words - potential suckers for fraudsters.

This post has been edited by Deal Hunter: Jan 12 2017, 12:28 AM

Maybe the following Star articles are easier to understand

http://www.thestar.com.my/business/busines...-can-be-abused/

http://www.thestar.com.my/business/busines...ech-fraudsters/


http://www.thestar.com.my/business/busines...ot-the-bitcoin/

This post has been edited by Deal Hunter: Jan 12 2017, 12:06 AM

thanks guys! I lazy to monitor the interest. so if step up effective rate is 4% and 12mths effective rate also 4%, I will take 12m lol lol...