hi, am i entitled to this prom if i just bring a cheque to bank into the FD?

hi all - would like to check on the HONG LEONG BANK e-FD, do we need to have a savings account open to do that?

thanks.

Example of 12 months
Other banks : RM10,000 x 4.2% = RM420 (using promo) ... expire,renew again elsewhere
Maybank Islamic eFD : RM10,000 x 3.1% = RM310 (using board rates online) maybe some banks are slightly higher

Is the extra RM110 per annum worth the hassle for you? Not for me. I do not have banks near my office, hence would require me to drive there, find parking, conduct the transaction and go back to office. I'd rather place online then.

What if the FD is RM100k? Difference would then be RM1,100 .. yes, that makes a difference for me.

Worth it or not, is up to how you value your time and the quantum of your placement.

I am lost. What is your message versus my earlier post ? 

Edit: Or u are just saying CIMB has SA offer of 3% till Aug 2017 ? We are discussing FD here.
Agreed.

It is the quantum involved. Can differ from person to person. 

We all look at situations from our own perspective. 

At CB, I was told by my RM there are still groups of RM serving Citigold customers who has FD with them (meaning RM400k or above FD for Citigold). CB FD promo like non existent except rare occasions like the 3 mth 4.88% that I had with them in Feb/March.

So those that has >400k FD (1 year board rate of 2.85%) in Citigold, why ??

So it all depends on the individual and situations. For every 0.1% difference for 100k, every year difference is RM100 interest. So each person look at time/effort/gain differently. 

 

As I said earlier in the day, CIMB can nego with large sum. So no need to be their Preferred, money talks ! 

Since u met the requirement, no harm to join. Did u get any gifts ?

The 4.2% with monthly interest is attractive enough that I forego the Affin one with 4.25% but >18 mth.
I would think >100k u can ask CIMB and see. No harm to ask even with lower sum. But sure don't ask if <50k.  The nego rate u get will depend on the amt u put. 

This morning went to HL to get BC. The eFD placed has matured and getting BC to find new home for them. BC charge only RM0.68 for their PB customer.

HL FD promo 6 mth 3.9% for fresh fund, 3.8% for renewal/old funds.

Again moved to CIMB for 4.2% 12 mth, monthly interest. Please note 4.2% for their Preferred customer. Normal customer is 4.1%. 

Yup

My HL RM lost contact due to never buy any product from her. Just placed AmBank 4.2% yesterday. HL surprise for FD promo on 7/7 ?? Guess because of the 7, 7 date !? 

But I would be surprised if they can go beyond 4.3% on that day. Lets see ! 

Uncle giving us good news !  

So HL did not go beyond the 4.3% which I mentioned yesterday. Looks like few banks looking at the 4.3% barrier. I was tempted to terminate AmBank 4.2% FD just placed 3 days ago to move to HL. But after calculating, find that not worth the effort. Moreover only for 7 mths gain.

Anyway next week may place OTC for the 4.3% FD. 

Either BC or personal cheque depending on situation. Rare situation online xfer first. 

Wasai, stalkers found !   

RENTAS at source of fund or FD terminate, then use personal cheque for new FD placement most of the times. Though sometimes could RENTAS directly to the other bank for new FD placement. 

That is why I said "urgent" then used RENTAS. Also to be sure as it is Real-time Electronic Transfer of Funds and Securities System, RENTAS. Most of the time late out to bank instead of 9am. 

The interbank OTC transaction only has this RENTAS system which is supposed to be "real time" (with my limited knowledge). Which is actually NOT instant as compared to online IBFT. Sometimes minutes, at times hours !!!

Getting BC from the matured FD is still more convenient way of transferring FD to another promo. No worry about when the dough will appear in the other bank CASA. 

There are UUHNWI here watching us ! Me just cakap banyak only. 

Another point of using RENTAS is to directly deposit to the other banks CASA account which u wanted to place FD. U don't want to wait until 3 or 4pm to place FD when the fund is received at that bank.

Watchout that even RENTAS u have to do it before 12.30pm or so. Be prepared to wait from minutes to hrs for the other bank to receive the dough. At one time I have harrowing experience of 3 hrs even for RENTAS !!   

Oh didn't know that. Done with PB but limit is 30k per placement. Is the limit 30k per placement applies to per day basis or 30k per saving account at HLB?

I just love HLB's eFD.

It is branch related, some branch can be more efficient than others.  Also related to bank management, culture etc.

It is best to call them before maturity. Over the phone they offered 4.25% which I declined. On maturity day, after the hassle of xfer and cheque of 50k, they gave 4.3%. 

MBSB said for FD maturity, per cheque max amt 50k. 

Read carefully next time, bro !

Why u want to know the amt.    It is the rate that is important. 

Interesting episode !

AmBank branch ABM keeps on kacao me to put in more FD. My AmBank RM has left and seems no replacement up to now. So the lady ABM keeps on pestering me for FD.