https://www.ocbc.com.my/personal-banking/de...wE&gclsrc=aw.ds

i kira2 if put 3m + extra 40% from my current ocbc account i can get 200k in 1 year.

T&C says “ The rate is applicable only when you combine your OCBC Fixed Deposit/-i with another deposit placement in your OCBC Booster Account/-i or OCBC Premier Booster Account/-i.”

What’s the booster account?

The 6-month promotional EIR/EPR of up to 3.86% p.a. is calculated based on the minimum balance of RM30,000 in Booster Account/-i.

The 6-month promotional EIR/EPR of up to 4.14 %p.a. is calculated based on a minimum balance of RM10 million in Premier Booster Account/-i.

see the combined return is like shit

OCBC with their fake returns again. It always comes with extra criteria which makes your actual yield lower than what you can get from other banks who don't have all this criteria.

if they necessitate us to put in those CASA account with super low interest, how can they claim that its 5%?
the effective interest rate should be divided with the amount you have to put into CASA right?

example, 1:1 deposit.
deposit 10k FD, 10k Savings account to get 5% FD, and 0.05% from savings account
but actually effective rate should be around 2.525% only because have to take 10k x 5% + 10k x 0.05% = 505, then have to divide it by 20000 .

last time i nearly got tipu by tigga bank, other banks all 3.5x then this tigga bank 4% but must put in CASA. i go calculate then actually tigga bank also around 3.5 % je. i duno what to say because it seems like trying to mislead people. that CASA money also cannot take out , if take out then ur FD also forfeit interest, wtf.

This post has been edited by Knnbuccb: Jul 24 2023, 06:39 PM

check the tnc.... ur average most probably is like 3%

No need to call it tigga lah, just call it Maybank.
Hong Leong bank also like to do this kinda gimmick to cheat people who are not savvy.
We need to put a stop to this kind of creative crap to inflate the actual rate that the depositor can get.

Some insurance companies also like to sell these kind of products with fake high % returns which is misleading.

Because there are stupid ppl like TS, that's why OCBC can continue with this soft scam.

3 million. U can bukak multiple account for rm250k? Lel

Makes me reconsider banking with them ...

a lot of insurance companies damn misleading

they say oh u put in 10k annually, get duno what cash coupon 500 every year.

but they only kira that 5% based on ur 10k annual payment
they didnt factor in actually 10k have to put in for a few years, and hence total deposit is more?
so how can they say the returns is 5%?

assuming 10k annual premium for X number of years
first year total u paid so far 10k ............ no cash coupon because first year
second year total u paid so far 20k ................500 cash coupon, tell u 5% of 10k annual premium, better than FD.
third year total u paid so far 30k...............500 cash coupon, tell u 5% of 10k annual premium, better than FD.

and so on. but every year only get 500 cash coupon, imagine if u have to pay for 6 years is 60k u deposited but u only get 500 cash coupon annually..... apa lancau?

how come financial companies are allowed to do such BS one ah

i mean, its obvious that these are all to mislead people .

who would pick these products if presented with the effective interest rate?

This post has been edited by Knnbuccb: Jul 24 2023, 06:52 PM

60% FD, 40% CASA

Thre yiu go, the catch...

only 3% effective rate

ocbc....cunning singkie

Read properly before commit ya

Yeah, they do all kinds of bullshit like this. Unfortunately we don't seem to have a law requiring financial institutions to state effective interest rate prominently or any prohibition on showing fake interest rates.
If you see the fine print it is there one, but when they promote the scheme its based on bullshit rates.

Always ask for the effective rates!!!!

I'm an ocbc account holder and they have been doing this since eons ago. Those who suck at math would jump for joy

Stupid people also can have 3millions saving? Saving since small like Rosmah?

this is k! i can also brag to have 6 mil cash to put in FD

Ocbc greedy bank
Last time ask current account for my sole prop biz
Need deposit 10k

Then i Go cimb, only need 1k

Same like many ppl in /k believes they have 20k p/m salary

ocbc and hsbc both sohai bank, go bukak acc keep ask many irrelevant question, end up wented uob

OCBC don't want low end clients. Low end clients can go to local banks.
They also will monitor whether you are a high value customer or not, if your account not much activities or too small transaction value, they will close your account one.
HSBC also like this.
Probably its a foreign bank thing, never heard of local banks doing this before.

they beautify the rate with all those investment related

you might or might not able to get that projected number

i remember last time ocbc got "monthly quest" thing to have special rate for their saving account

last time my friend change their gaji to there ; because its daily interest

in the end all lazy and either gave up or switch to other bank