For 4 month FD, still it is 3.47%, it is much higher than normal rate of 4 months FD.

So still got some attraction la, although it is marketing gimmick.

It is the marketing gimmick only, in fact, if calculated details, it still on par and little bit (tiny peanut) extra than normal rate only. Nothing to shout about. But for sure, all are still below the rate of 1 year FD of 3.7%.

No, as far as I know. All are the same across 3.00% for 1 months, 3.5% for 12 months (both min rate set by BNM)

Today! Only those less efficient one will be tomorrow. A delay of one day might cost bank a few million.

FD rate for 1 month now is 2.5%, 1 years 3.0%.

You can go to their respective online site to see.

It already changed around 9.xx am this morning.

I don't think so, difference simply too much 2.5% vs 3.4, as there is always an * stated they can change the rate without prior notice.

This post has been edited by cherroy: Jan 22 2009, 03:14 PM

Read my previous statement

I know, but last time normal FD rate for 1 month is 3.0%, so they can give 3.4% (which is norm for some banks when doing promotion, trying to get new customers or more funds), but now or today become 2.5% only. So differentiate is simply too much if continue to do it which easily wipe out millions of profit or more loss, unless bank management don't mind.

Need to get clarification whether it is valid or not. Most probably they will change it, just my guess, and norm practice adopted.

It is different league lah. Cannot compare if someone don't want to risk their money as those never guaranteed your principal but FD does.

Those invested in UT last year or so has lost 30-50% mostly. Although now might be good time to invest (my opinion), we never know for sure, may be it can drop further another 20%? So for those not willing to risk their money, still their choice and only choice is FD.

It already told you as bolded.

Those are not FD, but some kind of saving plan, but they are clever with their advertisement and put * on the rate qouted.

Just to add, why 1997-1998 interest rate sky-rcoketing, because at that time Asian currency was under attacked by hedge fund and most Asian countries were short of foreign currency reserves to withstand the massive sudden outflow of their currency which can bankrupt them, so in order to attract more fund inflow, they need to increase the interest rate.
Also those under IMF aid countries, interest rate increase was part of IMF's "advice".

This post has been edited by cherroy: Mar 25 2009, 01:53 PM

If want to share, please listed it out, if not, please, this is not a place to promote or advertise.

Please post whatever information and discussion in this forum. If not it serves no purpose of posting in this forum in the first place. (like PM me, I have xx plan)
There is nothing secret of it.



This post has been edited by cherroy: Mar 27 2009, 09:11 PM

Once tenure expired, then it is auto-renew at prevailing/existing rate (at the date when the FD expired). So previous rate is not carried forward.
The contract is binded until the tenure, not the whole life lah.

Don't need to double confirm, I triple comfirm with you.

Enough with
"I have xyz plan, PM me for details"

All this kind of posts will be removed if forumers still consistently doing it. It has been lenient on moderating side, please don't misuse or spam or use as advertising platform.

As said, if really want to share, plese just listed it out.

Also this is a FD thread, not insurance saving plan, please post whatever details regaring it in the insurance thread section. As it is totally inappropriate to compare a FD with an insurance saving plan or endownment plan. It is different all together.

Thank you for the cooperation.

It is just a Time deposit or FD (Citibank called it as Time deposit instead of FD), just you must allocated 25% of the FD amount to saving/checking account for locked in period.
But only entitle once for the 3.25% promotion rate, aka 1 FD placement only, next placement won't able to get it.

I don't think can get the information through website. If interested can speak to their RM for details.

That's why I knew and heard from them

Saving plan never is the same with FD, please don't confuse people.

Although saving plan projected return rate is higher or even the portion of guarantee return is higher, its risk and liquidity wise is indiffernt with FD.

Appreciate any comment made, just don't want to see people being misled it is a better "FD" placement. (which lot of people here still don't know to distinguish between FD and saving plan)

I raised this issue, because there are a lot of uninformed people out there, which is the primary concern which I had seen a lot of RM (relationship manager of banks) has been given wrong impression to customer on the saving plan. One can call it structured FD but it is never a FD. While when people see the word FD, I can bet 80% of the bank customer will think it is FD. That's why.

We have a lot of people being ill advised for the Lehman mini-bond issue, just don't want to see people being misled again.

2) Saving plan potential return rate also depended on how FD rate or interest rate environment, all are inter-related.

Saving plan is not under commercial bank but insurance company, although insurance company/unit might be the subsidiary of the bank parent company, it is separated entity. Bank won't hold any responsibility on the saving plan side, but it is the insurance company. Banks merely is an agent of the product.

The FD only applicable on new fund aka they want new money deposit into their banks. Recently, banks tend to offer better rate for long term, for new fund coming as they all know rate won't go lower while taking more deposit in will mean stronger capital for them. Although last 2 month rate is high, but if taking average it is no more than 2.5% (1 year rate)

AUD 1 year FD as high as 5%, but AUD exchange rate kinda high at the moment, ralling from low of 2.3x to now 3.0x as high as 3.1x as well.

Long term wise AUD rate always tend to be higher than RM FD on average.

Discussion about foreign currency FD
http://forum.lowyat.net/topic/512136/+220

The only way to get good rate (for exchange is through DCI), can refer to the foreign currency FD topic.