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Books
Books I have completed reading since January 2021:

1. The Enchanted - Rene Denfield
Free money
Thursday, June 12, 2008
I was reading Personal Money magazine June subscription and one short article caught my attention. That article was about OCBC bank promoting its personal loan which enables people getting the loan without collateral or guarantor and the best thing is you can get it within a day. The amount you can obtain is from RM 6 000 to RM 100 000. The ultimate attraction of this package is if you DISLIKE or UNHAPPY with this loan, feel free to return it after 30 days. Read that again. RETURN.

My idea here is crazy and unpractical but hey why not? I'm always driven by money. Ok so this is how it goes. Let say I borrow the money from this bank with the intention of RETURNING so that means I would be given 30 days for free. If I borrowed RM100k... I'm sure I want to taste the money in some way right?? So why not I put that huge sum of money in fixed deposit for a month that gives me like 3.20%. So before I return the money, I would get at least RM 500 from the RM 100k. Tada. Free money for no apparent reason. And then the next day I return the money back to the bank. So in the end I would get RM 500 profit out of nowhere. SAFE and LOW RISK.

No idea if this idea works or not. But somehow I could hear my bloody devil and angel fighting on my shoulder minus the Star Wars light saber. And I also know who is going to say this idea is stupid. But who cares... As if the banks are stupid.
6 Comments.


Hmm.. interesting....
» Nuttz on 2008-06-12 11:38:23

Very possible. The risk, of course, would be to make sure that the month long deposit does not run over the return period.
» jinyu on 2008-06-12 12:46:42

haha wow..very interesting. i'd agree with jinyu though, gotta make sure about the dates
» jfo (71.188.251.24) on 2008-06-13 03:47:37

wowza
I don't think I have ever heard of a bank giving a loan and say that you can give it back...... that really is stupid (the idea is awsome though) go for it, but don't get caught ^_^
» Domino (75.142.132.34) on 2008-06-13 04:06:12

so, you gonna try it??
» Domino (76.2.19.127) on 2008-06-13 11:48:13

not possible
the bank will never approve your loan
» (219.93.199.129) on 2008-06-17 11:44:55

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