Who said it must be a worst investment?

or you rather wish you had bought some banks share during 2007? instead of putting in FD.

Just to clarify,

Citibank Malaysia is incorporated in Malaysia.
Although Citigroup is parent company for Citibank Malaysia, Citibank Malaysia entity is independence to Citigroup US.

While in Malaysia there is no Citigroup US operating here, nor accepting deposit in Malaysia.

All banks here be it so called foreign banks, are incorporated here.

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Added on December 6, 2011, 10:35 pmI don't mean which bank is good but most of the time, service of the so called foreign banks are way much better than local one.
The local one needs to learn a lot from them.

Their service is much comprehensive, customer service is more professional, and less waiting time for ordinary transaction etc.
At least above is just my experience in comparison.

This post has been edited by cherroy: Dec 6 2011, 10:35 PM

Cannot.
Only once,

I always hate those only open to new customer promotion.

Treat better to non-existing/new customer, while loyal and long term customer get none.

6 months cooling off, as stated in the T&C.

start with 200k, tomorrow you top up 50k, become 250k, up 50K (50K enjoy 5%, something like that loh), while the 200k did not get 5%.

Nowadays, people are creative in marketing, try to put higher number.
Like step up rate, 3.0, 3.3, 4.0, but advertise it as 4%.

Then top up increment get 4.0% etc, while existing fund do not etc.

This is not an excuse, the banks should brief their staff thoroughly before start the promo.
It involved hundreds of million deposit.

If confusing occurred, it just show unprofessional only.

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Added on January 4, 2012, 3:45 pmI hate this kind of offer.
Treat better on new customer, while existing loyal customer get nothing.

This post has been edited by cherroy: Jan 4 2012, 03:45 PM

Lottery also not enough.
Some private banking need USD1 million.
Lottery only 3 millions if without jackpot, RM 3 millions still a little bit shy from USD 1 million.

Please verify this statement.
A lot of forumers are hugely interested, and willing to treat you a starbuck/coffee bean for this recommendation if the FD is without any condition, aka a normal FD placement.

Please don't tell us need to sign up structured product, Bancassurance stuff one, which is different story all together.

I just found the so called 6% only for 3 months FD.
Need to buy UT or product one, nothing to shout about.
http://www.ocbc.com.my/personal-banking/Pr...pr2011.pdf'

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Added on March 13, 2012, 11:50 amso who need to fly kite?

Opss now 2012, not 2011. My mistake.

This post has been edited by cherroy: Mar 13 2012, 11:57 AM

Insurance company doesn't have FD, please get your fact right.

Insurance is always an insurance, not a FD.

No insurance company can give a guaranteed return of 10% as well, be it endowment plan, ILP or whatever.

Please do not include this into the FD discussion. It is totally different with FD issue.
Mind that, forex trading and leverage is illegal in Malaysia apart from done BNM certified banks and finance institution/brokers.

AUD FD remains as FD, just like one needs some AUD for the future, and never consider to change back, the foreign currency exchange risk for AUD FD is out of window already.
Placing foreign currency FD means you wish to have the currency or wish to place the money in foreign currency, it is not solely to gain the interest spread alone.

Yes, foreign currency FD subjected to currency exchange risk, no doubt,
but primary reason to place the foreign currency FD is about want to park the money in those currency, whether needed for it or diversification purpose. Solely want to earn extra 1-2% higher rate, my advise is always it may not suit.

While there are way to get AUD/RM or currency pair at spot rate through DCI, not necessary 2-3% spread, also one get request for lower spread like 1% or so, if one invests substantial amount as well.

For Forex trading, it is illegal for anyone (without BNM approval) to do forex trading in Malaysia. End of story.
What I mentioned previously, please do not bring in this issue into FD thread, it is totally different story with FD all together. It is irresponsible to recommend forex trading (it is illegal in the first place) as we may have many uninformed forumer that may look into this advice.
Who care?
Money being frozen, burned or being scammed time, nobody care. Ya, correct.

FD - can in and out whenever you like

Endowment plan - fixed annual commitment, you cannot miss the premium annually, if not previous paid premium can be burned and left and little surrender cash.
Cannot withdraw at anytime until matured which could mean 10,15 or 18 years later on.
Even you are starving to death, and you have millions inside in endowment plan, you also cannot withdraw for emergency.

For foreign currency FD, it can be renewed indefinitely or stay in foreign currency current account which can be remitted if one wish to, just cannot withdraw in hard cash form.

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Added on April 6, 2012, 10:45 amYes.

This post has been edited by cherroy: Apr 6 2012, 10:45 AM

Is it true?

Special and lower housing loan rate, yes,
but never heard got 1% extra in FD.

I no mean that, just need clarification.

So can joint name with relatives who is staff and get extra 1%?

You are better off with those FD promotion 3.3, 3.5, 3.6% etc kind of, or like new PB customer special offer etc, which much higher than board rate +0.1%.

The myth of large amount can get higher rate is not necessary must be true, it can be inverse (lower rate), instead higher, depended from time to time, financial market condition, aka liquidity tight or not.

Nowadays, too large sum >Rm1 mil, bank may/can classify customer into Tier 1 which rate may lower than board rate one.

Only more than Rm1 mil, only tier issue apply.

For 200k, one can go through those as new PB customer, or "premier gold" or whatever name (different name used by different name), most offer good rate to new privilege customer one.