Sifu2, anyone know why the profit is 4.01 extra instead of 50,000 x 4.30% = 2150

For eFD promo via FPX, should be able to do placement from any other bank accounts which may or may not belong to same account holder.
I had done eFD placement in RHB where FPX payment are from my sibling accounts of another bank. So I reckon, the FPX account can be the same account holder, joint account holder or any other account that can do FPX transfer within set limit and fund availability.

However, there may be exceptions. OCBC eFD promo explicitly specified that the FPX must come from the same holder account. They reserved the right to cancel your placement and return your fund (few days later) if the FPX account is not the same account holder as the OCBC account.

Ambank

CONVENTIONAL FD & ISLAMIC TD-i

3-month @ 3.80% p.a (fresh fund)
3-month @ 3.60% p.a (existing/renewal)

6-month @ 3.85% p.a (fresh fund)
6-month @ 3.75% p.a (existing/renewal)

10-month @ 4.00% p.a (fresh fund)

12-month @ 3.90% p.a (fresh fund)
12-month @ 3.85% p.a (existing/renewal)

Offer validity:
2 Oct 2023 - 8 Oct 2023

Yes, OTC

I am a Singaporean so pardon me if i am not familiar with the Fixed Deposit scene in Malaysia

I have a FD at Hong Leong Bank a few year ago (before Covid). so during COVID period, i could not go in to renew the FD so they auto give me board rate when it matures.

I finally manage to visit Johor Bahru 1 year + ago to renew the FD at 3%.

Now 1 year has passed,  so i go in again and wanted to renew or take out the fund and move it to another bank. the counter told me it had been auto renew. if i don't want to auto renew, I need to tell them in advance before the FD matures. The worst is that it is auto renew at a low rate of 2.35%

i am asking if auto renew is the norm in M'sia? In Singapore that is not the norm

And why is it renew at a lousy rate? at that time when i renew it at 3%, I was not informed that i have to tell the bank if i don't want to renew
if i cancel the auto renewal now, i will suffer RM 700 in interest

Any idea of what timing or actions will ensure a high rate of FPX FD placement failure? Even if just a suspected idea, just suggest so that it can be tested out by kiasu members.
Kiasu members are increasingly turning to FPX for some sort of short hedging FD placements. The practical discussion on best practice  is how to do it without losing interest, missing deadline of end of promo and avoiding silly actions. Kiasu members do not like to complain, but seek better and more certain solutions.

Thanks for the input.

Normally kiasu members are aware that ideally banks should program to block any FPX FD placement from any other person's bank account, and thus they try to avoid such a problem/loss.

However, there is some doubt whether programming is strict/good enough to block any FPX from a joint CASA, or whether there is still a loophole concerning the first named in the Joint casa. Perhaps readers can share their recent experiences as to how FPX from  joint CASA works or do not work nowadays. We are not at all sure whether all banks FPX programming have reached or amended to a strict standard of only allowing from a sole CASA from the same account holder as we have no idea of their compliance to such a rule or competence/willingness  to program properly.

Anybody take amb last year's promotion 4.5/11mths..,?
any issue..,?

Really..,? Jokes aside.., interest paid in advance...,? When..?
As i recalled there's no such advance payment....

yeah.., issue with their interests numbers don't add up....

Already contacted them via their internal messaging sys, still waiting for their reply...

Hi bro, and the other bros who placed Ambank advance fd as above.
Did you get back the full amount of FD into your savings account?

Mine something weird happened.
I earmarked 100k before 31/3/2023, then the 100k on 3/4/2023 converted to 4.5% FD placement, I also gotten the profit last year (should be around 4128.05)
Today i checked my account, on 3/3/2024 i received back only 95871.95.

Oddly the amount received + advance interest is 100k. Seems like I only get back the total principle. Maybe I missed out on any terms / conditions?

You all received back the actual FD amount?

oh ya kah. nanti i ask the banker. i think still can withdraw out online.

when moving money from bank to bank you guys will use cash cheque ? how does it works exactly ?

you go to the bank counter and ask for a cheque of RM1xx,xxx ? at that time do they need to know who is the receiving bank account or who is the receiving person ?

Chill...

No 2% tax

Same page with EPF & ASNB funds

😁

But if you fill this FD income details in PADU...
Your own noobness

RM0 OCBC: Earn 3.80% p.a. for 6 mths with OCBC Fixed Deposit/-i. Min. RM1,000 fresh funds. T&C apply. Ends 31 Dec 2024. Visit OCBC Website>Promotions>Deposits.

yup, I kena before. Painful...

Can elaborate on that ? Quite a number of forumers including myself are interested in your experience. Any difference Tia- I vs islamic term deposit ?

I do not have BeU saving account. I have selected to transfer to other bank when the term deposit matured.
Do you mean if we successfully placed the term deposit on day x at 10:02pm then the principal and interest will auto credited to the bank account at 10:02pm on maturity date?