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This post has been edited by lavenzo: Dec 27 2018, 10:49 PM

hi for the cimb efd, i need to have a saving account first? i only have credit card..

I believe so since you need to transfer the fund from a source which is usually CASA.

This post has been edited by David83: Dec 27 2018, 11:40 PM

Mm.. lets make the example easier (start from beginning of the month) for discussion. if I place the E-FD at 6am on 01/12, until 31/12 6am already completed one month. but beyond 6am of 31/12, bank still do not consider as mature, so have to wait overnight till 1/1 only consider a month?
What confuses me is: when we say a month, mean 1/12-31/12, so as long as 31/12 has arrived, why need to complete the whole day?

Good question, used to be puzzled before about this timing business. But nowadays I believe the reasoning should be based on the idea of End Of Day Balance (EODB). Hence the question of what time the placement was made OTC by cash, or presented by cheque before a certain time, and the questions from eFD or FPX and IBG and IBFT is not so important as the EODB. The only catch here is there may be some kind of different time when EODB is considered between different banks or even on different days, weekend or hoiidays.

If you pay attention to your FD timing, credit card, debit card or IBFT and IBG transfers and compare the SMS notification, appearance in your account the bank website, and when the money is really there and removable, you will notice many strange things about timing. I do not think/believe that the banks or the interbanking transfer systems are very accurately the same or standardized as this would involve cooperation, standardization and adherence to compliance at a very nitty gritty level which may be beyond present policy, management, supervisory and auditing capabilties. Of course all these financial incompetence and differences are very annoying and can be costly when transactions are not quite as expected. Obviously, there is still quite some improvement needed. For the moment, it is more like I DID IT MY WAY and a deep disrespect for accurate timing and repeatable and reliable performance.

This post has been edited by Deal Hunter: Dec 28 2018, 01:54 AM

Only senior saver will get 4.4%. Did you make any placement and get 4.4% ?

The one I took is 1:3.

bank calculate it by midnight (end of day), it doesnt count in 24h cycle.

if you withdraw 31/12 6am, you dont earn interest/profit for 31/12, but only up until 30/12.

same as placement. if you put 1/12 10pm (example for eFD), once crosses 2/12 12am, you earned 1 day of profit/interest.


when bank promote the tenure as "month", it's literally by monthly cycle (not the way we perceive as calendar month)

e.g. 1 month tenure .....

placement 1 Dec 2018, maturity 1 Jan 2019
placement 1 Apr 2019, maturity 1 May 2019
placement 15 Apr 2019, maturity 15 May 2019

however, interest/profit will varies because it calculate by completed days.

placement 1 Dec 2018, maturity 1 Jan 2019 --- 31 days (excluding 1 Jan)
placement 1 Apr 2019, maturity 1 May 2019 --- 30 days (excluding 1 May)
placement 15 Apr 2019, maturity 15 May 2019 --- 30 days (excluding 15 May)


in your example above, if you placed 1/12 6am for 1 month tenure, bank determined maturity date as 1/1 (not 31/12)

placement 1 Dec 2018, maturity 1 Jan 2019 --- 31 days (excluding 1 Jan) of interest/profit is calculated.

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.

Shared this before.

Am not senior 😂

Encountered same thing several months back, delay of 1 to 3 days. At least twice. But they did calculate the interest based on the number of days. So did not complain. A bit strange especially there is holiday or weekend involved.

UOB system related ? Other banks even weekend or holiday still go by the date of the month.

This post has been edited by bbgoat: Dec 28 2018, 11:29 AM

Today a CIMBclicks asked HAVE YOU MADE YOUR eFD YET? when logging out. So I made another one

Looks like it will stay active until 31st.

I also made one placement over the counter just now.

the islamic 4.5?

because eFD was down for 2weeks i have now a wild mix of eFD and islamic. all mature june 2019, all 4.5

Ya Islamic.

All of you willing share, make me remember, but I don't know below yes or no.

Yes, you put your money at 6am, but this is not mean the bank or bank system make a calculation at 6am.
The OTC staff counter told me, after 4pm the bank closed, but they still work, checking, calculation..., this is also make sure the placement able to use, so before this, I think the bank still not able use your money.
(Just like Sunday, morning want back end staff do the work and then can process the interest credited.)
If you put money via Bank Draft, normally is after 2 days you can take cash, so in this situation, more bank still on the spot give you same day of your FD. The bank still can't use your 2 days cash like that. (I think this point, your heart will feeling better.)
Like timetable, this is also like IBG follow the timetable, so no matter you last minute go to bank make the FD, the result is
you 1 Feb 2018 3:59:99 make FD, but bank allow you 1 Mac 2018 9:00:00 go to bank(if the bank open at 9am), than mean any time of this date. I think this is same like eFD, you can free to do any time(eFD also have open and closed time), but same count by whole date time.
(The bank maybe still received your "cash number, paper money", not deal with others bank, take a "real cash" situation.)


If your FD printed, mature date fall on 1 Jan 2018, when 31 Jan 2018 11:59:99 pm the bank will credited interest to your principle or CASA, so you only can withdraw on 1 Feb 2018 or after 1 Feb 2018 to obtain preview 1 month tenure interest.
This is same like is mature date fall on 15 Jan 2018, when 14 Jul 2018 11:59:99 pm the bank will credited interest to your principle or CASA, so you only can withdraw on 15 Jul 2018 or after 15 Jul 2018 to obtain preview 6 months tenure interest.
(The bank very aggressive, they set the max last minute time 11:59:99 pm credited, so if you before 11:59:59 pm, the interest still not credited, how you can take money, eFD also run like that. After 11:59:59 pm ready tomorrow, than mean 1 Jan 2018 - 1 Feb 2018.)

When Feb only 28 days or 29 days, so this month interest will less. Normally, UOB and CIMB system more fair to customer, that mean you can get more interest if you simply count the interest way by month. The bank count interest way is use 365 days, so the Feb always impact the interest result, but less, also no many, few. You'll surprise UOB and CIMB can more little, if compared with other banks, same amount with same day.

This post has been edited by thisisyourname: Dec 28 2018, 02:35 PM

The branch offered me but I decided to go for longer tenure in uob. I am below 50.

Same with my case somehow. The online page only reflected my new fd the following day but the value date start from the day I opened the fd so no complain from me as well.

Yes I can confirm UOB interest counts by day. I placed my fd on 26th Dec 2018 and maturity on 29th Oct 2019 (10 mths). I don't mind coz they pay interest till 28th Oct 2019.

OIC, the 2019 Deepavali holiday, but I think the UOB ready printed your interest on your FD paper, so can you try count, I think you'll happy, UOB more fair, full paid or more little.
This is not about you mind or not mind, the UOB, CIMB and some bank will get you holiday interest. If you big amount, this is a lot.
Only what I wrote, the calculation months per year, 365 days per year and 366 days per year the interest result can different, but less, also no many, few. I think all bank in Malaysia count by date, but just fast and easy way count by self, I prefer use months per year, I also not count like bank system count, I think count too much will easy crazy.
If lost 1 or 2 days interest this is different story. For an example, if Bank Draft can't same day mature of FD, delay 2 days, this will make customer angry or bad mood, so many at here maybe or usually not choice this kind bank. Sometime the holiday can up to 2 days, 4 days like that, the auto mode bank, like UOB, CIMB and some bank, you not need argue and complaint.

I still hope all can choice more benefit to increase the competition, now cut early withdraw with zero interest, this really hurt benefit of FD placement. Who knows future, but the way likely cut benefit customer.

PB eFD Campaign
- 28 December 2018

Please be informed that the Campaign Period of “PB eFixed Deposit (PB eFD)” has been extended to 31 March 2019.

Click here for the revised Terms and Conditions.

PB Special2 FD / TD-i Campaign
- 28 December 2018

Please be informed that the Campaign Period of “PB Special2 Fixed Deposit / Term Deposit-i” has been extended to 31 January 2019.

Click herefor the revised Terms and Conditions.

Still work, the trick is to login to CIMB clicks first and then press that link and login again.

After that, it will redirect you to the FD placement page