So the profit rates they listed on their website are not 100% accurate?
Roughly estimate figures only?

http://www.bankrakyat.com.my/web/guest/125

If the rates are accurate, the bank Raykat is offering the best rate at this
moment?

---

Added on January 2, 2012, 10:15 pmThanks so much for the valuable update..

So far.. the best FD rates are from OCBC:

3 Months 3.6%
9 Months 3.8%

This post has been edited by BoomChaCha: Jan 3 2012, 01:50 AM

Standard & Chatered Bank officer told me that it is better
to withdraw fund in 6 January, which is on this Friday..

Is I am not mistaken, CIMB calculates FD rates based on monthly basis,
but not daily basis

---

Added on January 2, 2012, 11:04 pmThis is what I want to know also...





This post has been edited by BoomChaCha: Jan 2 2012, 11:04 PM

Any ideas about MBSB?
I do not think they are protected by PIDM, but EPF is one of their
main shareholders:

http://www.mbsb.com.my/deposits_fixed.html

Their 4.7% for 5 years tenure (will pay interest every 6 months)
is very attractive, any ideas?

Does SCB open today?

Do we get the full interest and bonus if we withdraw our FD
from SCB today?

But the SCB officer suggested me to make a withdraw in 6 January..?

Yes, they are open today..

---

Added on January 3, 2012, 11:39 amI just called Standard & Chartered toll free 1 300 130 011,
they said it is advisable to withdraw all funds on this Friday,
because they will take 3 working days to credit the bonuses
into our accounts.

To withdraw a large portion of fund and to leave a small amount
of fund in the account before this Friday is not advisable either;
if we want to receive our full bonus on this Friday.

In fact, two SCB officers also told me the same thing few weeks ago...



This post has been edited by BoomChaCha: Jan 3 2012, 11:39 AM

This is the safe way if we want to receive our full bonuses,
no choice...

Or you can call Standard and Charted Bank to verify..
1 300 130 011 ---> when the phone line is connected,
choose to talk to customer service, then don't press any buttons
until somebody will pick up your call..

I just called OCBC, in order to get 5% per year for 3 months, we need to open
a new OCBC premier account. And in order to open a new OCBC premier account,
we will need to make a minimum deposit of RM 300K into OCBC premier current
account which the interest rate is only 0.5% per year.

Then any amount other than RM 300K can only put into 5% interest rate p.a. for 3 months.

OCBC phone number:
http://www.ocbc.com.my/personal-banking/He...contact_us.shtm

Captain, I have no doubt about your valuable and update FD information.
But just that I wanted to clarify only.

I will call OCBC again and post my update here.

This post has been edited by BoomChaCha: Jan 3 2012, 02:34 PM

All right, after calling OCBC the 2nd time, this is their answer:

The minimum Ringgit to open a Premier account is RM 3000.00,
not RM 300K they stated previously.

This is the 3rd time I called to OCBC:

They said we need to have minimum RM 300K to open a premier current account.

Then we can deposit another maximum 50% of RM 300K (premier current account)
that is RM 150K as 5% FD rate for 3 months.

All together 2 amounts from premire current account and FD account cannot more than 1 million.

Very confusing....

---

Added on January 3, 2012, 5:21 pmI think I will take
(1) OCBC: 3.8% for 9 months, or
(2) MBSB: 4.7% for 5 years



This post has been edited by BoomChaCha: Jan 3 2012, 05:21 PM

Captain, would you mind telling me which OCBC branch did you make your
5% FD deposit? Do you have the phone number?

Thanks

[quote=Dino168,Jan 3 2012, 05:46 PM]
[quote=BoomChaCha,Jan 3 2012, 05:18 PM]
This is the 3rd time I called to OCBC:

They said we need to have minimum RM 300K to open a premier current account.

Then we can deposit another maximum 50% of RM 300K (premier current account)
that is RM 150K as 5% FD rate for 3 months.

All together 2 amounts from premire current account and FD account cannot more than 1 million.

Very confusing....


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


So, based on the above senario, RM450K will get 5% FD for 3 months?

[/quote]

No, RM 300K from Premier current account will get 0.5% per year;
while another RM 150 from FD account will get 5% per year for 3 months...



This post has been edited by BoomChaCha: Jan 3 2012, 06:12 PM

All right...Captain.., you are very kind and patient enough to explain everything clearly..

Understood...I really appreciate your efforts and time to share your info with us here...




Maybe we can form a Lowyat FD team to negotiate with the bank for a better rate..
and you of course will be our team leader to represent us to talk to bank, what do you think?

---

Added on January 3, 2012, 6:27 pmAll right.... Thanks so much for your efforts....

I am new to OCBC too.....



This post has been edited by BoomChaCha: Jan 3 2012, 06:27 PM

Just called Standard & Chartered Bank at 1300- 888 888 :
http://www.standardchartered.com.my/contact-us/en/index.html

All my credit interests bonuses have been credited since yesterday - 3 January 2011..

So can withdraw my funds from SCB now...

This post has been edited by BoomChaCha: Jan 4 2012, 02:24 PM

I went to OCBC this afternoon, RM there told me that in order to get
5% interest rate, I can put 50% of fund into 5% FD p.a. account for
3 months term.

And the remaining 50% of funds will put into 3.8% p.a. for 9 months
term, but need to open the following accounts:
(i) FD account
(ii) Saving account (RM 20 to open)
(iii) Current account (RM 400 to open)

According to OCBC, deposit all your fund straight into 5% FD account and
without opening a saving account and a current account is not allowed.

This post has been edited by BoomChaCha: Jan 5 2012, 11:08 AM

Oh..sorry...

I meant OCBC, not Standard & Chartered Bank...

---

Added on January 5, 2012, 4:48 amPlease check out below economics report, although it is an old news, but no harm to learn more about interest rate forecast for 2012 from expert:


Bank Negara Malaysia may declare higher inflation forecast for 2011

Mar 23, 2011 - HomeGuru.com.my

Higher inflation forecast might be in store this year, with Credit Suisse predicting a three to four
percent rise — a predicament based on the government raising petrol prices in June and November.

Bank Negara Malaysia (BNM) could declare a higher inflation forecast for 2011 when it unveils its 2011 annual
report later today.

Wu Kun Lung, Economist at Credit Suisse, predicts the new forecast to be approximately three to four percent, compared to 1.7 percent last year.

The inflation barometer, acceptably the Consumer Price Index, will see a three percent hike by mid-2011 and float
at around three to 3.5 percent for a good part of the second half of this year.

“This is assuming the government hikes fuel prices two more times — in June and November, by a similar magnitude as last year's hikes,” said Mr. Wu.

He predicts that the central bank will resume the rate hike by the second half of 2011, if industrial production and exports remain well below pre-crisis levels.

“We expect BNM to resume its rate hikes in the third quarter but it could be earlier (in May) if the government hikes retail fuel prices in the first half amidst a strong pick-up in domestic growth.”

Mr. Wu expects that the Overnight Policy Rate (OPR), which currently stands at 2.75 percent, to increase to 3.25 percent by end-2011 and possibly 3.5 percent by end-2012.

“Although some commodity prices (subsidised), namely palm oil and rubber, have softened in recent weeks, their prices remain well above the average in 2010.”

“Barring a sharp drop, we think the overall impact on 2011 growth should remain positive," said Mr. Wu, addressing the impact of agriculture and mining sectors to Malaysia’s gross domestic product (GDP) growth.


Source:
http://www.fullhouse.com.my/property-news/...gher-inflation-

This post has been edited by BoomChaCha: Jan 5 2012, 04:53 AM

I did not put my money in OCBC, I went there just wanted to
find out more information.

Yes, 5% FD promo is for OCBC Premier account only, and it requires a
minimum of RM xxx AUM.

This post has been edited by BoomChaCha: Jan 5 2012, 12:57 PM

Captain, you do not need to apologize, you have done nothing wrong
but you have made significant contributions here...

100% fund means:
we cannot put all our money straight into 5% FD rate,
but need to split 50% into 5% rate, and the rest of 50% into 3.8%
or 3.6%

Sorry for the confusion...

If I am not mistaken, 3.8% & 3.6% FD promo rates are opened
flexible to everybody, minimum placement is RM 10K.

I think to open more accounts can be done with your joint name
accounts, this usually not the problem...

Yes, you can withdraw your FD on the 3 months maturity date..

Captain knows OCBC FD 5% promo better than me.



This post has been edited by BoomChaCha: Jan 5 2012, 07:20 PM