I have a question. Is the Platinum Card compulsory? Noticed that the annual fee for plat card is RM600 after the 3 year waiver... ouch!
OCBC IQ, Discuss about it
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 Jan 31 2009, 02:59 PM
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#1
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Junior Member
53 posts Joined: Oct 2007 From: Malaysia 
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The key words here are '4% over two years', so the returns are actually less than 4% pa right?
I have a question. Is the Platinum Card compulsory? Noticed that the annual fee for plat card is RM600 after the 3 year waiver... ouch! |
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Jan 31 2009, 06:14 PM
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#2
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Junior Member
53 posts Joined: Oct 2007 From: Malaysia
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QUOTE(wirelessdude @ Jan 31 2009, 03:13 PM) Yup, because you're not depositing a lump sum but at monthly intervals over 2 years. So although it's 4% p.a., the nett effect is 4% total after 2 years - otherwise, all their FD customers will be opening this account.  The salesperson told me that the annual fee will be waived if you continue to remain an IQ customer but I'm not sure if that's in the T&C.  QUOTE(Lawyer1 @ Jan 31 2009, 05:43 PM) At the end of the 3 years, we can opt to remain as an iQ customer, thereby keeping and paying for the card, or we can opt not to continue as an iQ customer. Unless, of course, they waive the fees. Ah very enlightening. Thx guys! I see that this account is more about convenience than anything else.... The savings plan isn't really that great considering the staggered placements & 2 yrs tenor. One thing more to consider is card theft could be potentially more dangerous since it is linked to your current / savings account! (although the card still looks very chun imho  ) |
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