It will follow the latest rate at the time of renewal.

It was me

I'm in Malaysia. Just a bit busy in the last couple of weeks. I was so busy that i forgot how much i've charged to my MBB2 AMEX on the weekends last month and kept using other credit card (Citibank VISA) and earned just RM2.00+ cash back for May Citibank gives 5x points for transactions in several places too. Anyway, a lot of catch up to do man

Not. That is not possible.


If your friend is telling you it's FD, then it's very obvious that he's pulling your leg.

They just park their money there because it's very easy to move money around. You do not have to declare anything at all. Just one click or a simple instruction to your personal banker will do

Yes. And there is another tiny island down south which many Malaysians like to compare ourselves to Who needs Switzerland now ? US screwed them so badly and it's not quite as prestigious as they were.

I stand corrected. But then, you are required to write in a letter ? It basically means you can't withdraw on the day it matures unless you change your standing instruction and ask them to close the FD account and transfer all the money to xxx account.

Ahh... it's the meeting again. How time flies... up up up

This post has been edited by MilesAndMore: Jul 6 2011, 01:06 AM

Standard Chartered Deposit Rates

Looks like they have revised all the interest rates downward effective yesterday

It is capital guaranteed... guaranteed in the value of the currency hold only. And of course there is an exchange risk involved.

Actually, do check out about Premium Currency Investment. It's something like foreign currency FD too but the tenure is shorter. The interest rate however, is way higher than traditional foreign currency FD. There is exchange rate risk involved too but the risk is just as great as conventional foreign currency FD. Well, this is just my opinion. I'd suggest you to fully understand this type of investment first before going into it. If you really need someone to explain this Premium Currency Investment to you, just go to any HSBC, Standard Chartered or Citibank branch and request to talk to someone about this.

For RM100k, you can't negotiate for a better rate. But for deposit above RM1m, yes. You can negotiate for a better rate.

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.

Wah! AFFIN's tier-1 board rate is already quite high and they may be able to go higher ?

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.

Some people like to keep their money in FD as this ensures you have high liquidity. Cash is king after all

This is how business should be done in this super competitive environment but some other big banks are like we can offer you 0.5%-1% higher than our normal board rates only. Take it or leave it

Sorry, it was a typo. Should be 0.05% - 0.1% higher only And the highest they can go is 0.2% at most. Sometimes their board rate is already quite low such as 3.15% now. Even if they give us 0.2% higher, it still can't match Affin Bank 12-month regular board rate

Go back 1-3 pages, the answer is there.

How i wish i did the same then

There's a catch. Read the T&C in their website.