FD so call fresh fund

[foxer77]

when i was renewing my fd the rate given was less than the so call fresh fund rate upon macurity . was told need to let in credit in bank a day or so then will consider as fresh fund when do another fd.

last time wasnt like this . any renew will be same rate aa the fresh fund.

 

[sgdividends]

Auto renew won't be promo rate.

 

[foxer77]

it not auto renew . i personnel go over to do but was told it not fresh fund.

 

[lzydata]

Some banks may close one eye but to be strict, fresh funds means fresh funds. They cannot go straight from one account inside the bank to another account.

 

[koja6049]

issit ocbc? last year they renew me with fresh fund rate, this year not allow. I jitao say thank you and goodbye and move to citibank maxigain

 

[Bonhun]

You can withdraw the money, transfer to another bank and transfer back saying it's 'fresh'?

issit ocbc? last year they renew me with fresh fund rate, this year not allow. I jitao say thank you and goodbye and move to citibank maxigain

 

[koja6049]

You can withdraw the money, transfer to another bank and transfer back saying it's 'fresh'?

why bother to do that when i can get better rates elsewhere?

 

[sg_investor]

Will all banks do the same to make money move arround and make gdp bigger?

why bother to do that when i can get better rates elsewhere?

 

[anfielder]

Will all banks do the same to make money move arround and make gdp bigger?

Moving money around doesn't make gdp bigger.