AmBank gives top FD rates and extra interest. Very generous

This post has been edited by BWassup: Jan 4 2024, 06:09 PM

until 31 December 2003?

Starting today. But looks same as the recent promo. FD bundle. Effective rate 6 months 4.00%. 12 months 4.40%.

https://www.mbsbbank.com/promotions/chinese...-combo-campaign

Need to place same amount in OCBC 360 as well? How does that work

I had a MBSB FD maturing on Saturday last November. On the maturity date, MBSB system extended the FD another 2 days to Monday, and paid an additional 2 days interest.

Other posters also said the same thing for their FD maturing on weekends or PH.

The FD I mentioned that matured last November on a Saturday was also No Auto-Renew. When I made the placement originally, had been informed that special rate FD done OTC are not auto-renewed on maturity date.

I was thinking to do partial online withdrawals on the Saturday maturity date, plus Sunday and Monday. However, the FD had been extended by the system to the next Monday, and proceeds were credited on that day, with additional profit for 2 days. Went to the bank on Monday, withdrew one shot via RENTAS.

Did the girl say that the principal and profit will be credited to your account on 11.1.25?

Yeah, think it's bad programming, odd to get the same rate from a promotion already ended long time ago? Renew at old promo rate not available any more now

This post has been edited by BWassup: Jan 24 2024, 10:25 AM

Can, but 100k cannot do one day. Need 3 days +. Funds transferred to another bank for FD promo.

This post has been edited by BWassup: Jan 24 2024, 05:01 PM

Nice. Do they have big CNY promo this year?

Yaloh, their reply is ambiguous. They do not specifically say the proceeds will be credited to your account on the Saturday maturity date.

Since your FD is special rate done OTC, not e-FD, from all the previous OTC FDs I have done, MBSB requires us to present the FD receipt at the Branch on maturity date, and give renewal instructions - either renew or withdraw.

(Anyone have different view or experience, correct me if I am wrong about the procedures on maturity).

Whatever the customer instruction, to be fair, since we can't present the FD receipt on a Saturday, the FD should be extended by the system until the next working day.

Better just call the Branch Manager or OIC to find out exactly what is gonna happen on maturity date. That girl may not be that knowledgeable.

This post has been edited by BWassup: Jan 24 2024, 11:27 PM

I received my bonus interest for Decemebr on 24th Jan as well.

However the rate is only 1.15% instead of the expected 1.15% (deposit) + 0.6% (spend).

I rechecked my spending, it exceeded RM1,000 in December. However this includes some retail spending via Bonuslink, inked to my debit card and debited to Truesavers account at the time of transaction.

I'm wondering if spending via Bonuslink is not included in the Spend total.

Anyone know if Bonuslink is accepted or not under Spend category?

Didnt know debit card activation card was a requirement

AmBank is quite decent. Good for you.

I am going to my branch today, ask them to check on my "missing" 0.6% bonus interest for December.

This post has been edited by BWassup: Jan 26 2024, 10:15 AM

One more day only. So short notice to terminate the promo

Don't worry bro. If you do that you will lose FD interest less 1.85%, for 2 days.

Forummers (including myself) have confirmed that we have received 2 extra days interest, with the FD being extended by MBSB system on those weekend days.

Actually, I could not even withdraw the FD on the Saturday, as it was already extended to Monday

Trust MBSB, imo they are an ethical bank where FD is concerned (all banks are I hope!), they are not out to "cheat" us, for something unavoiodable.

This post has been edited by BWassup: Jan 31 2024, 07:59 PM

I think their system is not canggih enough to adjust the maturity date to the next working day when the FD is created. It is probably fixed at calendar dates i.e 12 months maturity means same date 12 months later, regardless of what day it is.

Idk what kind of patch they have done to extend the maturity date upon maturity date only. You won't see the extended date now as yours still has 11 months to run.

Anyway, you can try to withdraw on the original maturity date but, if follow my case, and what others said, on that day, the FD already extended to Monday, cannot withdraw anyway. Then withdraw on 23 December 2024, with extra FD interest. Think the counter staff was trying to explain to you the same thing?

The annual fee of RM100 is hefty! It is exactly equal to 100k x the extra 0.1% for 12 month FD.

Is it worth it?

abit late

BIMB still doesn't require us to open savings account, and they accept bankers cheque for same day value right? I did that for last year's 12 month FD promo. They said can withdraw Principal + Profit on maturity date without going through a savings account.

This post has been edited by BWassup: Feb 13 2024, 04:50 PM

Hope so. Will be making a placement next week.

I also got the text. Perplexed as to how this is considered a "special" rate. Apart from the (very slim) chance to win a dragon plaque. Which anyway I doubt can be sold if you win it, but don't want to keep it