May I know that is FD rates negotiable? I plan to put 100k over as FD and will not use that money in 1 year or 2. So can I negotiate the rate? Or it's all prevailed?
FD rates in Malaysia, Which bank offer the highest FD rates?
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 Jul 17 2011, 12:12 PM
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251 posts Joined: Jun 2007 
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Jul 17 2011, 06:58 PM
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3,854 posts Joined: Aug 2005 
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QUOTE(van_takawa @ Jul 17 2011, 12:12 PM) May I know that is FD rates negotiable? I plan to put 100k over as FD and will not use that money in 1 year or 2. So can I negotiate the rate? Or it's all prevailed? Yes, all the bank's FD rate is negotiable. Different back offers slightly differently and also it depends on your nego skills. |
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Jul 17 2011, 08:52 PM
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Moderator
9,301 posts Joined: Mar 2008
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QUOTE(van_takawa @ Jul 17 2011, 12:12 PM) May I know that is FD rates negotiable? I plan to put 100k over as FD and will not use that money in 1 year or 2. So can I negotiate the rate? Or it's all prevailed? For RM100k, you can't negotiate for a better rate. But for deposit above RM1m, yes. You can negotiate for a better rate. |
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Jul 18 2011, 06:58 AM
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Elite
8,601 posts Joined: Jan 2003 From: KL 
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QUOTE(van_takawa @ Jul 17 2011, 12:12 PM) May I know that is FD rates negotiable? I plan to put 100k over as FD and will not use that money in 1 year or 2. So can I negotiate the rate? Or it's all prevailed? No, if you are talking for tenure 12 months and below for RM100K. If you go for longer tenure, i.e. 13 months and above, yes but the increment is very little. What you should do is go look for limited time promotional rates from banks like what many of us mentioned here for OCBC and UOB. RHB is also having some promotion but you got to deposit certain sum in CASA for 90 days.QUOTE(MilesAndMore @ Jul 17 2011, 08:52 PM) For RM100k, you can't negotiate for a better rate. But for deposit above RM1m, yes. You can negotiate for a better rate. Yah, even AFFIN Bank can offer you interest rate higher than 3.6% for 12 months if you deposit minimum RM1M. |
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Jul 18 2011, 10:09 AM
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31 posts Joined: Jan 2011
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QUOTE(gsc @ Jul 16 2011, 02:10 PM) UOB 3 mths 3.45%, 9 mth 3.6%. Min RM25k. Promotion end of Aug. thank you so much for the insight..appreciate it.AUD exchange rate is high now, not advice to go in. Added on July 16, 2011, 2:19 pm Public bank offer....... https://www.pbebank.com/en/en_content/perso...tions/fcfd.html Note the warning end of Public bank page WARNING THERE IS AN INHERENT EXCHANGE RATE RISK IN FOREIGN CURRENCY DEPOSITS DUE TO THE FLUCTUATION OF THE FOREIGN CURRENCY EXCHANGE RATE AGAINST RINGGIT MALAYSIA. Below is the exchange rate https://www.pbebank.com/en/en_content/perso...ates/index.html Take AUS dollar as an example, selling 3.258 and buying at 3.174, assuming you buy now and sell immediately and the exchange rate didnt change at that instant, you already loose out 3.258-3.174=0.084 0.084/3.258--or 2.58% FD rate 6.7% - 2.5% = 4.2% net interest you get assuming no change in exchange rate |
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Jul 18 2011, 11:29 AM
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167 posts Joined: Nov 2010
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Has anyone put FD in Affin Bank before?
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Jul 18 2011, 12:38 PM
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1,624 posts Joined: Apr 2011
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QUOTE(VeeJay @ Jul 17 2011, 06:58 PM) Yes, all the bank's FD rate is negotiable. Different back offers slightly differently and also it depends on your nego skills. for RM 100k can nego? please share which bank ? Thanks |
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Jul 18 2011, 02:34 PM
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11 posts Joined: Jun 2010
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Yes, just did tried a month back,insaint708. You have worries putting your money to Affin Bank ?
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Jul 18 2011, 04:13 PM
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Junior Member
62 posts Joined: May 2011 From: KL, WP.
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hmm. i have much better suggestion. If you buy this share KM Loong
i think this share given back much higher... yearly your gain interest around 5 % . If it's grow up, somemore u can earn more  |
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Jul 18 2011, 09:54 PM
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167 posts Joined: Nov 2010
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QUOTE(yourmagiccloset @ Jul 18 2011, 02:34 PM) Yes, just did tried a month back,insaint708. You have worries putting your money to Affin Bank ? Just curious why Affin Bank's interest rate is much higher compare to other banks... |
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Jul 18 2011, 11:01 PM
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Elite
8,601 posts Joined: Jan 2003 From: KL
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QUOTE(insaint708 @ Jul 18 2011, 09:54 PM) Just curious why Affin Bank's interest rate is much higher compare to other banks... Don't worry too much, your deposit is covered by PIDM up to RM250K per account, if jint is covered again for another RM250K, etc. Go check it out by typing PIDM. but they might ask you source of the money, I think someone mentioned it earlier. Citibank do ask me where source of the money I deposited with them when I open an account  This post has been edited by Gen-X: Jul 18 2011, 11:03 PM |
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Jul 19 2011, 12:06 AM
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1,624 posts Joined: Apr 2011
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QUOTE(cheong3033 @ Jul 18 2011, 04:13 PM) hmm. i have much better suggestion. If you buy this share KM Loong thanks, any more recommendation?i think this share given back much higher... yearly your gain interest around 5 % . If it's grow up, somemore u can earn more Added on July 19, 2011, 12:07 am QUOTE(cheong3033 @ Jul 18 2011, 04:13 PM) hmm. i have much better suggestion. If you buy this share KM Loong thanks, any more recommendation?i think this share given back much higher... yearly your gain interest around 5 % . If it's grow up, somemore u can earn more This post has been edited by gsc: Jul 19 2011, 12:07 AM |
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Jul 19 2011, 12:29 AM
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9,301 posts Joined: Mar 2008
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QUOTE(Gen-X @ Jul 18 2011, 06:58 AM) Yah, even AFFIN Bank can offer you interest rate higher than 3.6% for 12 months if you deposit minimum RM1M. Have you ever tried to negotiate with them before ? All this while i've always thought that they will have to refer to their HQ in KL whenever a customer with loads of cash wanted to negotiate for a better rate but it turned out i was wrong. Well, for HSBC at least. I recently just found out that it is up to the branch manager's discretion how high the interest rate he is willing to offer you. |
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Jul 19 2011, 07:25 AM
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Elite
8,601 posts Joined: Jan 2003 From: KL
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QUOTE(MilesAndMore @ Jul 19 2011, 12:29 AM) Have you ever tried to negotiate with them before ? Yes, you are right. I was at AFFIN two weeks back and the Exec told me that she can request from HQ higher interest rate if I were to deposit RM1M minimum. Actually, HLB also same, the branch manager can check with HQ to see if they want to match their competitors' rate for significant amount of deposit. OCBC also can talk.All this while i've always thought that they will have to refer to their HQ in KL whenever a customer with loads of cash wanted to negotiate for a better rate but it turned out i was wrong. Well, for HSBC at least. I recently just found out that it is up to the branch manager's discretion how high the interest rate he is willing to offer you. Come to think of it, last year my RHB branch Premier Banking Manager did request for higher interest from HQ for my minimum amount to be eligible for PB and got extra 0.05%. This post has been edited by Gen-X: Jul 19 2011, 08:19 AM |
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Jul 19 2011, 09:41 AM
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9,301 posts Joined: Mar 2008
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QUOTE(Gen-X @ Jul 19 2011, 07:25 AM) Yes, you are right. I was at AFFIN two weeks back and the Exec told me that she can request from HQ higher interest rate if I were to deposit RM1M minimum. Actually, HLB also same, the branch manager can check with HQ to see if they want to match their competitors' rate for significant amount of deposit. OCBC also can talk. Wah! AFFIN's tier-1 board rate is already quite high and they may be able to go higher ? Come to think of it, last year my RHB branch Premier Banking Manager did request for higher interest from HQ for my minimum amount to be eligible for PB and got extra 0.05%.  So, all of them do need to check with their HQ if one were to negotiate for a better rate ? So i guess HSBC is the only isolated case then. I understand that it is the branch manager's decision on how high he's willing to offer you on the interest rate. |
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Jul 19 2011, 10:03 AM
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Senior Member
1,624 posts Joined: Apr 2011
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QUOTE(Gen-X @ Jul 19 2011, 07:25 AM) Yes, you are right. I was at AFFIN two weeks back and the Exec told me that she can request from HQ higher interest rate if I were to deposit RM1M minimum. Actually, HLB also same, the branch manager can check with HQ to see if they want to match their competitors' rate for significant amount of deposit. OCBC also can talk. Correct me if I am wrong, only big amount like 1 million can nego for better rate? Anybody have tried successfully on lesser amount?" Come to think of it, last year my RHB branch Premier Banking Manager did request for higher interest from HQ for my minimum amount to be eligible for PB and got extra 0.05%. |
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Jul 19 2011, 10:10 AM
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Elite
8,601 posts Joined: Jan 2003 From: KL
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QUOTE(gsc @ Jul 19 2011, 10:03 AM) Correct me if I am wrong, only big amount like 1 million can nego for better rate? Anybody have tried successfully on lesser amount?" no lah not necessary RM1M, you have always talk to the bank manager. |
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Jul 19 2011, 05:13 PM
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Junior Member
62 posts Joined: May 2011 From: KL, WP.
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WoW, if 1 million, u want to gain more, better try to invest in good property or land. maybe will be double up your money....
coz keep in bank now days only few .... % |
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Jul 19 2011, 06:22 PM
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9,301 posts Joined: Mar 2008
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QUOTE(cheong3033 @ Jul 19 2011, 05:13 PM) WoW, if 1 million, u want to gain more, better try to invest in good property or land. maybe will be double up your money.... Some people like to keep their money in FD as this ensures you have high liquidity. Cash is king after all coz keep in bank now days only few .... %  |
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Jul 19 2011, 11:32 PM
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Senior Member
5,871 posts Joined: Feb 2006
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QUOTE(cheong3033 @ Jul 19 2011, 05:13 PM) WoW, if 1 million, u want to gain more, better try to invest in good property or land. maybe will be double up your money.... Few years ago you can do that, now you can't even buy a corner house with 1m. better keep the money in FD and wait for the property bubble to burst.coz keep in bank now days only few .... % |
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