yah auto renew at board rate - normal. Bro, from what I gather, the person you spoke is giving you "hint" on how to get Promo rate if OCBC has one after your FD matures.

My foreign friend has 400K in CIMB FD account 3.6%PA. He asked me are there any bank that offer more like 7%. He want to put 1.5M.

the more $$ u put into single bank the less interest they give u

I heard that for a single account of more than RM1 million, the FD rate will not be "normal". Meaning the rate will be lower.

So for more than RM1 million, it is better to spread to more than 1 bank.

This post has been edited by bbgoat: Mar 7 2012, 10:55 PM

Please substantiate and which bank you talking about?

Please do not post hearsay.

FYI, last month, you got RM1 million, HSBC give you better rate. Please go check out post #2. And OCBC giving up to 5% currently.

This post has been edited by Gen-X: Mar 8 2012, 12:15 AM

Yes and no. Anyway, when you have at least a few Millions Ringgit, the can always negotiate for a more favorable rate actually.


Tier-2 rate applies but as i said, if you have at least a few Millions Ringgit, you can always negotiate for a better rate.

your friend is damn rich...he should invest in stocks or some unit trust

It is NOT hearsay. Maybe I should not have used "I heard". As what MilesAndMore said, ""Tier-2 rate applies but as i said, if you have at least a few Millions Ringgit, you can always negotiate for a better rate.""

Below from Hong Leong website:
2nd tier FD apply for individual and SMEs with FD totalling more than RM1.0 million in aggregate per customer
http://www.hlb.com.my/qa/ir/irfd.jsp?flag=irfd

My friend has retired. Don't want any risk investment. He just want to relax and play golf in Malaysia. We had check with CIMB and they gave us 5%, must lock for 7 years, only can withdraw the interest. We are searching for 7% if possible.

---

Added on March 8, 2012, 12:47 pmI saw this from HSBC

http://www.hsbc.com.my/1/2/personal-bankin...H_PFSH_A_UT_TDI

Is this 7% for 1st 3 months and then 3%?

This post has been edited by hankeymeal: Mar 8 2012, 12:47 PM

Well, you should have gave the link earlier and not after Miles mentioned it right

Anyway, if you or your company have couple million or more, HLB would be more than glad to offer you higher than Tier 1 rate - that is if you speak to the manager of the branch. As for SME, the banks commercial unit will come looking for you if you got more than a couple millions and offer you interest rates better than what they offer to individuals, e.g. HSBC, OCBC and UOB.

Even Affin will offer you slightly more than 3.6% for 12 months if you have a million ringgit

This post has been edited by Gen-X: Mar 8 2012, 12:53 PM

7% is achievable provided ur fren is smart enuff put into foreign currency account wit AUD denominations as wit the conversion should get him close to 6.5% pa

no doubt the best rate u could get wit 1.5m these days would be at 5% mayb if ur fren is lucky 5.5%

Please share more info on the 5% or 5.5%? Annually? Which bank? Where to get such info?

Thanks.

CIMB

any rates wit rm1mil or more are recommended to go to the branch and speak to a personal banker or relationship manager to get better rates

if u wanna earn more go do some homework n let us know if u r successful thanks

Rhb bank is now offering 5 percent on 3 month fd rate base on Rm 50k. Anyone here participated?

Any link on this promo?
Is it linked to opening Unit Trust account?

Monetary Policy Statement --- 9 March 2012

At the Monetary Policy Committee (MPC) meeting today, Bank Negara Malaysia decided to maintain the Overnight Policy Rate (OPR) at 3.00 percent.

The global economic and financial conditions registered some improvements since the previous MPC meeting. Stress in the international financial markets has been partially alleviated by the introduction of measures to address the European sovereign debt crisis. In North America, there have been tentative signs of improvements in the economy. Notwithstanding these improvements, growth in the advanced economies remains subdued. In Asia, while growth continues to be supported by domestic demand, the growth momentum has moderated amid a slowdown in trade activity.

In the domestic economy, latest indicators and surveys of businesses point to continued expansion in private consumption and business spending. Going forward, domestic demand will continue to drive the expansion of the Malaysian economy. Private consumption will be supported by stable employment conditions, income growth and public sector measures. Investment activity will be supported by the domestic-oriented industries, the commodity sector and the public sector. However, the overall growth momentum in 2012 is expected to moderate largely due to the weaker external environment.

Headline inflation is expected to moderate in 2012. Nevertheless, upside risks to inflation could emerge arising from the risk of supply disruptions and the possible financialisation in commodity markets, which would result in higher energy and commodity prices.

In the MPC’s assessment, while global financial conditions have improved, downside risks to the global economy remain. The high global commodity prices continue to pose risks to inflation. The MPC will continue to carefully assess these evolving conditions and their implications on the overall outlook for growth and inflation.



Schedule of MPC Meetings

Due to the revised schedule of international meetings, the May MPC meeting will now be held on Friday, 11 May 2012 instead of the earlier date, Thursday, 3 May 2012.



Bank Negara Malaysia
2012-03-09 18:00:00 2012-03-09 18:00:00

© Bank Negara Malaysia, 2012. All rights reserved.


Source: http://www.bnm.gov.my/index.php?ch=8&pg=14&ac=2420


-------------------------------------------------------------------------------------------------


OPR Decisions & Statements

http://www.bnm.gov.my/microsites/monetary/04_decisions.htm

This post has been edited by BoomChaCha: Mar 9 2012, 10:21 PM

RM500K can get 6% 3 yrs tenure <--- Got it from a manyzer friend @ OCBC.

3.6% tell the bank fella to go fly kite la.

Sauce?

Can provide more info please..?

---

Added on March 9, 2012, 11:33 pm6% for 3 years tenure..?

It seems too good to be true....?? Is it pure FD?
Or does it need to participate in some investment plans like uni trust?

Do you have more info about this 6% FD rate?

Thanks




This post has been edited by BoomChaCha: Mar 9 2012, 11:33 PM

Sounds to good to be true.