County cannot bankrupt one.
Country can default their sovereign bond (which many label it as bankrupt), which resulted bond holder lose money in the process.
The country still there, the country central bank still function and able to print money but at the expense of severe devaluation of the currency.

Yes, tax payers' money shouldn't be used to bail out a bank.
That's why we need strict regulation on bank how they can run, how they can leverage themselves, loan guideline etc.
As banks collapse can have domino effect or systemic effect on the financial system which leave gov no choice but bail out, as if let them fail, it is still public money (bank deposit consist of public money as well) in stake.

But just have conversation with bank personal financial officer,
the bank officer said other wise.
Each placement at least 50K.
Once placed cannot top up like 10k, 20k, next placement need at least 50k.

This post has been edited by cherroy: May 3 2012, 03:19 PM

Look like we have contradict info.

No, just get the info from the northern region office.

As stated in the T&C, need to perform at least transaction, either ATM cash withdrawal, or online payment.
I don't understand why insist on this.

The rate is better than the step up itself.

Those open step up program, must have an CASA, so should able to get both.

The ADB and cash back is really complicated and confusing sometimes.

Why not make it more simpler?

There is no promotion on 12 months, so if you want to put 12 month, follow the board rate, 3.1% or 3.15%.

Super Salary is a current a/c.
You can have a cheque book with the a/c.

Debit card/ATM card /= saving ac.

I find it is about strange for the calculation.
The T&C required maintain the balance throughout 180 days, but interest is counted based on 90 days?

Based on last time I knew, customer is entitled for 1 cheque free (no Rm2.00 but still need to charge 0.15). 2nd one need to charge.

Now, I don't know.

Nowadays, bank can impose Tier 2 deposit rate if deposit is more than 1 million, which the rate can be lower than board rate one.

It is long gone that more deposit can negotiate better rate like old day.

Definitely cannot.

You cannot handle over your IC to your sister to withdraw your FD. It is a "big wrong" in the first place.

Yes, now need both IC and fingerprint and personally go there. Bank will not entertain third party to withdraw.

Whether need to go to home branch or not, it depends on respectively bank policy, differ with bank to bank.

Nowadays e-dividend adopted by listed company using Giro to bank in the dividend paid.

Can't find the info for this one, mind please post the links or details?

First of all, I want to clarify one thing, so that many forumers won't be misunderstood.

When I said, normally gov won't let bank collapse with depositors money, and gov or central banks generally (a lot of time) took over or bailout once bank or finance institution facing problem, it is just a norm practice adopted by most country gov and happened quite a lot of time.
Why? because confidence and trust is the pillar how financial system, banks work.
So most gov generally do not want to let or see any banks or finance institution collapse together with depositors money. Because it can affect confidence issue on depositors and financial confidence within the country.

But there is no black and white, or any law said gov will or must rescue/bailout financial institution when they are in trouble.
Remember gov itself can run into trouble as well whereby gov may run out of option when financial situation is in distress, like unable to fund the bailout due to whatever reason, although chance of happen indeed quite low and seldom happening,
or gov reluctant to bail out due to whatever reason.

Typical eg. Iceland let its bank default during or around global financial crisis 2008.

That's why and where the need of PIDM to guarantee depositors's money.

Then you need to understand how bank operate.

For simple example.
A bank has 1 billion of own capital, so it can lend out 970 million (if it is a 3% SRR) as loan,
but on the other hand, bank can take in deposit of 10 billion and lend out 9.7 billion as well.

So if more than 10% of the depositors withdraw deposit suddenly (a bank run), means bank need to come out with 1 billion cash to pay back the depositor, 1 billion means entire bank own capital.
What if 20% of depositors suddenly want to withdraw in full?

Those loan made cannot be recalled instantly. Housing loan take decade to be pay off once lend out. Same with car loan, and many other loan.
Worst still if those housing loan are underwatered, aka real estate value has plunged severely after the loan being made.
For eg. bank lend out 500k housing loan for a 500k property previously, now the property only worth 300k in the market.

So bank needs to access to the interbank market to borrow money from other bank to fund it, or central bank. If both channel is not accessible due to whatever reason (like global financial crisis time, whereby inter-bank lending became stand-still due to fear counter-party bank collapse/default), then bank may have hard time to survive.

That's why regulators in most countries nowadays want banks to have strong tier 1 capital as required by Basel accord, aka means leverage level cannot be too high in the future.

You can always complain to the bank or even BNM, if bank personnel gives wrong info.

If any bank give better FD rate than normal without bundled buying product or other investment, I bet, you can find it here as well (in this topic), thanks to forumers around that always keep on thread updating.

Oic, CASA linked.

Personally I do not like CASA linked (which CASA amount need to be earmarked), as it complicated personal cash management issue.
Need to remember the amount being earmarked. Quite troublesome, if account got plenty of activity.

Why can't banks just make it straight forwards?