I tried out bank rakyat last week.

I read somewhere in this forum that above FD 50K can nego the rate.
However, I was told at the DU uptown branch that I can only nego the rate upon fulfilling the following 2:
1. Existing account holder
2. FD placement 100K & above.

However, they did give a cooler bag free gift though

Anyone else has other versions at BR?

for 12 month, rate is 4.01%, i asked bank rakyat and they said if I put 10k, 1 year later I get 401, is that correct? I am not really trust what they said..you know..lol

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Added on October 30, 2012, 4:38 pmI went for the one in Uptown Dmsr Utama..
UOB got 3.75%? I check from the website it was ended on 30 Apr?

This post has been edited by tiramisu83: Oct 30 2012, 04:43 PM

BR go for Mubeen, at least the interest in RM is printed on the slip..

Yes that is correct, the FD slip did state the final amount I will get together with the interest which is exactly 4.01% interest.
So just try out for 1 year & see.

However, it is true, I was the only customer there but they took their own sweet time to open my FD though not much forms to fill up compared to the foreign banks.

BR not a member of PIDM.

tiramisu83, confirm 3.75% still on. The staff asked me what i wanted to do and he confirm it is still on. Unfortunately no electricity can't do anything for me.

thx bro...great info...

although BR FD is not insured by PIDM, but it is safe enough as BR is established by government.

BR won't collapse, unless Msia gov collapse.
If BR can not be trusted, our money in KWSP is also at risk d.

hmm... still not sure of BR.. whether it is reliable.. since it is not protected under PIDM..

anyone else has account with them?

Wow, 4.75% per month for a current account? Are you sure? Is there any hidden T&C ??

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Added on October 31, 2012, 12:34 amSCB step up 6% still available now?

This post has been edited by echoesian: Oct 31 2012, 12:34 AM

i have an FD account at BR.

Try do a research on PIDM.
It's a government agency established under Akta also.
which means that: if BR collapse = gov collapse = PIDM collapse also.
In other word, if BR collapse = PIDM collapse also.
So although BR not insured by PIDM, it is still as safe as insured by PIDM as BR is back by gov.


And also please see clearly the wording PIDM used, they mentioned that the protection is only covered for the "unlikely event" of member banks failure.

So how to define "unlikely event"?
It's really depend on PIDM.
Don't expect that if your money gone into the drain, PIDM guaranteed & confirmed will pay u back.

Just curious why BR not joining as member of PIDM or there are some minimum "qualification" required to join as member which BR is not qualified?

Tried to deposit but was informed reach limit liao

Speaking my mind on the FD rate, I think there will be a drop in the rate after the BNM meeting in early Nov. Why ?

Thailand has reduced their rate recently. And crisis in Europe is getting worse.

To keep our business/economy above the critical level, they need to help with a lower borrowing cost.

I hope I am wrong. I have a few FD due in Nov and Dec.

possible a small cut given the pressure to stay afloat at the expense of fueling inflation.
a prolonged period of low rates brings with it some potential serious problems, incl "subprime".
but with ge13 around the corner, i bet the powers-to-be will want rates down (make people happy) before going up after ge13.

all over the world incl malaysia, savers/depositors have never been rewarded a fraction of that for the borrowers (e.g. debt to speculate properties).
the difference lies in how fast workers' earnings are increasing, which is generally not good locally.
we just hope to protect our hardearned money, hopefully >50% of real inflation rate.
which is a factor that drove so many into those gold ponzi schemes now in trouble.

with such low rates, fd is good only for very short-short term. imo, >1yr, should look elsewhere. mustn't fight the policy makers.

This post has been edited by AVFAN: Oct 31 2012, 10:13 AM

avfan,

Good point on the GE13. Then 99.9% probaility that the BLR will reduce in early Nov.

Cheerio.

Hi guys, finally opened my PMA acct just in time before Nov.
I was told need introducer if apply over counter but no need if via online.
I tried apply online but the application gone missing after 1 week.
I went to counter and now they say can self-introduce. Wasted my visits and 1-wk interest.

News: The officer told there is a new promo (gift) : if open or topup PMA with RM3k over the counter (01-Nov-2012 to 31-Dec-2012) can get a free passport holder. RM2k into Yippie can get a backpack. She shown me an internal mailer on that. For those interested, do check with your branch or call their call center.

The unlikely event term term just means it is low chance to happen on bank goes under.

There is no black and white in law that gov must bail out of bank failure. Although many gov do in the past.
So that's why PIDM needs to come in to make an assurance to the depositors.

Need to ask a simple question.
Is gov has written in law, black and white saying gov guarantee every cent of agency owe?

Even there is a black and white, you think the present government will honour it?

Just a follow up... luckily my colleague happens to be an existing PMA-i account holder. Got him to sign as an introducer and opened the account yesterday with 50k uplifted from existing Maybank FD. Decided to get the cheque book as well after going through the trouble of asking around people with current accounts with Maybank. But have to pay 7.50 for 50 pieces. Should be able to save on the 5.15 cashier order fee next time when transferring money out of Maybank..

Hi Bros,

If you guys recall sometime back a member reported that Bankwest was offering 10% for Kid's Account in Australia. Well, now it's 8%. Generally, as most of you are aware, interest rates have dropped in Australia but we still can get 5% or more for a few months when we open for new savings account. To learn more - click here to my article I'm Back From Melbourne where one of my new article is titled Australia Best Savings Account.


As for Premier Priority Privilege Banking Account, most banks require us to sign up for it - i.e. OCBC, RHB, HLB, SCB and UOB. Even if you deposit RM1M, you are not automatically granted PB status but you need to apply for it.

So, if you have joint FD with your wife, but only you are a PB member, you wife is not granted PB status.

So coming back to OCBC 5% 3 Months 50% AUM for NEW Premier Account, if you wife has yet to sign up for PB status, she is eligible for the promo when she applies for BP status.

Trick is - you and your spouse should never apply for PB status at the same time to enjoy the same promo for the same fund. For example, if promo is good for RM200K, and you have RM400K split it to 2 accounts i.e. 1 account you name first and the second accut your spouse name.