BNM maintains OPR at 3.25%.

Yes, you can instantly get cash for premature withdrawing, just no interest given.

OTC surely need to be done during banking hours.

While e-FD, it depends on specific bank as for e-FD, some can done transaction even on non-working day, the time frame may be different from bank to bank. Some e-FD valid from 6am to 11pm 365 days, some 9am onwards on working day etc.

"Subject to change"

Means bank can change the promo rate especially if there is change in OPR within the promo period.
Generally, once FD is placed, the rate is fixed throughout the tenure one.

Banks just want to avoid customer said previously you advertise Promo FD from period from x.xx.2018 to y.yy.2018, now has not exceed the y.yy.2018, so you must honour it, and by putting such "subject to change", means bank has the right to change the promo rate before end of the promo period, and avoid any legal implication or customer complaint.

This is not prepaid discussion topic...

Those are board rate...

OCBC 4.35% promo is OTC.

eFD offer generally was poor.
Last year I taught H was quite aggressive in promoting eFD by offering rate that was better than OTC rate, but since then the promo becomes less attractive.

This is doing no good to promote eFD around.

Only applicable to new customer?

There is no new or old system.

I urged every forumers to post responsibility, it is needless to speculate whether there is witholding tax being introduced or not, which only make some unnoticed forumers confuse only.

Until (if) gov does announce something on it or having reliable sources of it, only then we discuss on the matter.

Currently, there is no witholding tax for whatever amount of FD.
End of story.

Not true.
End of story.

Based on last time I knew, FD amount which is lower than 20K can be uplifted cross branch.

A lot of time, the problem may come from uninformed, non proper trained cashier/staff of the bank.

Some proper trained staff automatically give those interest without need to ask at all.

The best practice is shifting maturity date when placing, typically practiced by most foreign banks.

When you placed 12 months FD, then bank expects those money won't be withdraw until 12 months later.
Suddenly, if you premature withdraw the FD, it causes bank have unexpected need of cash to meet your FD withdrawal, in return, it is fair for bank to forfeit those FD interest as you are the one "break the FD contract".

Also, there will be new guideline for bank that they need to meet the stable funding requirement ratio NSFR whereby all banks need to comply.
If there are always lot of premature withdrawal of FD, it will severely affect their NSFR.

There are always short term FD available, money market fund that cater for short term need, whereby depositors can utilise upon for those short term/emergency need of money.
It is not like customer can only place 12 months FD, and when need money time then have to do premature withdrawal.

Definitely it will be clawed back, either through deducting your principal or debit the designated account for the interest crediting.

OCBC's 4.35% is coming back.

Generally, the 1 month FD,
1 month /= complete 30 days or 1 to 30/31

Mostly use 1 month = the same date of next month.
eg.
1/12 --> 1/1
10/1 --> 10/2

You won't lose any interest even though the particular month has longer days as FD interest is calculated based on day completed.

You need to maintain a min AUM.

Yes, earmark means those amount must stay there, can't withdraw out for the period.

Banks are eager to promote the opening new or use CASA (current account/saving account) with good FD rate bundled.
By straight offering the 4.36% effective rate, then people won't open or use the CASA.

(CASA is the area where bank can make good profit from).

Similarly, there are earmarked CASA bundled that give some free electrical appliances or goods (eg earmarked Rmxx,xxxx) , which has similar objective.
Which if calculated carefully those free stuff worth actually almost roughly near to value of FD interest rate of RMxx,xxx)

It depends on your specific CASA interest rate then, as it affects the overall effective rate.

Not every CASA is the same.
There are CASA that don't have interest rate as well.
While there is CASA interest rate that is step based, aka the more you put in, the higher the interest rate is.

Since 10% needs to be earmarked
4.8% x 0.9 = 4.32%

So effective rate would be = 4.32% + (10% x Casa interest rate)