0.1% for FD too or just Savings Account? Let's see, OCBC PB minimum RM300K, 0.1% = RM300. BR better offer

Bro, I must go open account with BR and of course I'll tell them magika recommended me. And if anyone wants to deposit at BR, please refer to me and I will give you 10% of the 0.1% in return but you got to wait till I open the account first.

Bro, you are welcome but the credit goes out to all the contributors (see post#3) who report on the latest FD Promos, free gifts with our deposits and their feedback on the T&C.

Bro, next few weeks, when? See first page or check my blog when it is about to mature. Whatever it is, do compare to Bank Rakyat's rate and if you decide to go with them, don't forget to tell them magika recommended you, haha. Come to think of it, if the deposit is of significant sum, get a family member to open an account with BR first and then he/she introduce you to BR

That's because Bank Rakyat is a koperasi and as such they need a current account with a real bank to issue cheques I guess.

Update post#1 on FREE cheque by MBSB and BR.

This post has been edited by Gen-X: Sep 11 2012, 09:25 PM

Early next week, I guess if you don't mind 12 months, you have option of HLB (Junior FD better if you got a kid), UOB and Kuwait Finance House but like I said, compared to BR, both interest rate/dividend lower then BR's dividend. For 3 months, UOB's promo pretty good (since OCBC out for your case). HLB's 3 month offer only good is you have exactly RM10K to deposit.

As for the two months' time, will be in November, have to wait till then.

Didn't you read magika post that Bank Rakyat reward the person who introduce a new customer 0.1% of the deposit. However, still waiting for him to confirm if it is applicable for BR's "FD".

Maybe aeiou228 may want to check it out, haha

This post has been edited by Gen-X: Sep 11 2012, 11:25 PM

Bro, not that I'll be opening a BR account soon, but I want to thank you for the above priceless info

Yah, also getting the stupid "HLB" emails at one of my many email accounts. Like I mentioned in my blog, sign up for a email account specifically for online banking account and never disclose this address to anyone including disclosing it in application for banks' credit cards.

After 3 months, the HLB rate will go to board rate if you opt for auto renewal. So, I guess you can join us playing Musical Chair when your FD mature in 3 months and see what's being offered.

As for MBM and CIMB 12 months FD Promos, seldom the effective interest rate works out to be more than Affin's board rate of 3.6%.

I want Admiral title lah

Thank you your Majesty or more appropriate Magiskaty


I think the gold art would be a nice piece of decorative item in the house or office; but the question is - who is going to pay you RM250 for it? Maybe if gold goes to USD10K/once, worth while to scrap of the gold, haha.

This post has been edited by Gen-X: Sep 12 2012, 02:58 PM

yes, you are right, if one is not happy with his/her current RM, one can do the above. If you know which RM you want, you can even request that she be assigned to you.

New FDMCGC member

I agree with you, not normal for bank staff to suggest that one withdraw their FD on a later date. Unless it is referring to auto renewal, then there will be no lost of interest. Assuming computer system needs to be updated or down this Friday, does it mean they cannot operate? Something sounds not right here.

Prior to this week, HLB was offering 12 months FD at 3.65% that is suppose to run until 31 October for their Priority Banking customers, but they have now reduced it to 3.6%

Junior FD 12 months tenure still remains at 3.65% currently.

Bro, noted you just joined LYN and let me extend to you a warm welcome to FDMCGC (see post#3). And with a nickname like yours, it will make it easy for me to remember you and remind me of your kindness in wanting to let me earn FREE cash voucher

As for UOB PB, in the previous months they did offer 0.05% higher FD rate to their PB customers and they do invite their PB customers to good dinner/talk once a while. But other than that, no major diff and they still charge me RM2,15 for their cheque!!!

Click here to my article Premier Priority Privilege Banking Accounts on minimum AUM required by most banks and which bank imposes penalty if your AUM drops below the minimum.

This post has been edited by Gen-X: Sep 15 2012, 02:38 AM

Thank for the info on KFW Savings Account divided/profit rate. 2% for deposit above RM1K is pretty good.

No need go with ASW2020, deposit into FD at board rate also guarantees you positive interest

Bro, you qualified CPA kah?

As for the banker cheque fee for Affin - that info still missing at first page, how much they charge?

I am surprised that PBB allows one to withdraw FD from any branch.

This post has been edited by Gen-X: Sep 16 2012, 01:25 AM

Based on previous years, the best offers usually come in the 4th quarter - I think it has something to do with dressing up the banks cash flow for year end account. I am waiting to see what rate SCB will be offering next month if any.

Recently, HLB has not been offering above 4% FD promos because they just issued a RM1B bond which pays 5.05% half yearly, so I guess they don't need cash from us anytime soon.

For the past two years, UOB has been offering less than 3.8% FD Promo to their consumer banking customers. However, like I always mentioned their commercial side do offer really good rates (better than their consumer banking promo rates) for more than past 1 year.

As for OCBC, I expect them to continue their promos close to 4% or more especially for the GIA-i to attract new accounts.

As for promo in 2013, unless Affin lowers its 12 months FD to below 3.6%, we can expect Promos close to that rate If not, we always have Bank Rakyat as an option, hahaha. I better go open a BR Savings Account, and if you guys recommend me and I get 0.1%, I "chiak bui liow"

I was off the same opinion 2 years back that global crash going to happen ( miscalculated by a zillion miles as far here is concerned) and that's why I have the opportunity to play FD musical chair (short term promos) and IF the crash does come (I speculate most probably after election), Cash is King and it's time for shopping spree

This post has been edited by Gen-X: Sep 16 2012, 11:12 AM

aiyah, you missed the boat, last month OCBC promo you can get above 4.5% for new Premier Banking customer. Now still can get close to the rate you mentioned above, you can either go back few pages to read about it or click here to my Fixed Deposit Page to see example.

Bro, FD interest rate did go above 10% in 1997/98 crisis but for a very short period like gark mentioned. That time was really hard for everyone, no cash flow and foreign banks withdrew loan facilities. Many people were laid off. But we learn from it. Now youngsters who have yet to experience a major economy crisis who think market can go up forever will be in for a ride of their life if another major crash comes.

I sold most of my stocks just before the crash and went in again near the bottom but that round did not make much because when it rebounded did not take the handsome profit in full but expected it to go back to same previous high (greedy) Even wrote about it in my blog with graph too.

And like gark mentioned, I was worried our purchasing power will be reduced significantly, so bought my first and only Rolex watch in 1998, haha. Now my no longer in production Rolex watch has become a collector's item

This post has been edited by Gen-X: Sep 17 2012, 09:53 PM

Why close?

Anyone "lucky" fellow here want to share if he/she managed to get FD interest >10% (please state rate) and locked in long term?

This post has been edited by Gen-X: Sep 17 2012, 09:57 PM

Bro, because of you, i went to dig up some FD records, hahaha.

FD placement with MBB

July 1998 - 1 month 10.3%
August 1998 - 1 month 9.5%
Sep 1998 - 15 months 10%
Nov 1999 - 15 months 4.1%

when was the peak I don't know; but a lady I know did lock in for 5 years and got something line 13% sometime during the crisis. must be around mid 1998 (based on the above as you can observe July to August interest rate for 1 month tenure started to drop).

since 1999, interest rate for 12 months hovering around 3-4% with the exception of 2009 where it went below 3% (also shown in the graph you provided).

wah, that time Astro decoder was like above RM1K right.

And the high interest rate also can be due to who is the FM I guess. Besides being laid off, many people were also caught off guard when suddenly their housing loan repayment rocketed sky high overnight. 1998 most activities came to a standstill, nobody buying anything with loan since interest rate at all time high, factories being closed because loan facilities withdrawn or losing money like hell because of ringgit depreciation and cost of raw material sky rocketed and etc. Interest rate only came down after the wise TDM sacked DSAI. Tapi, Malaysians cepat lupa.

The only thing that did was not really affected was unconverted land prices.

Bro, posted the above 2 weeks back.

This post has been edited by Gen-X: Sep 18 2012, 03:56 PM

Clause 7. Eligible Customers must designate a current or savings account in their own name (or in at least one of their names, in the case of a joint Step Up Fixed Deposit) (“Nominated CASA”) for crediting of interest from the Step Up Fixed Deposit. In the case of Eligible Customers who do not have any existing personal current or savings account with SCBMB:

7.1 If the Eligible Customer is a member of Standard Chartered Priority Banking, he/she must open an e$aver account as the Nominated CASA.

7.2 For all other Eligible Customers, they must open a JustOne current account and JustOne savings account and nominate one of those accounts as the Nominated CASA.

In respect to the above, if you are not an existing customer, then you need to open a Just One Acct.

Bro, I think it's more appropriate that you join FRMONBWFDP club instead of FDMCGC

Bro, go deposit another RM5K lah, then can feel good that you getting up to 6%, ahaha

There goes FREE money flying out of the window again

This post has been edited by Gen-X: Sep 18 2012, 10:12 PM

Bro, if you have an existing Savings Account, in this case an e$aver account, then sub-clause 7.1 and 7.2 is not applicable.

Say you got RM100K,

Diff between SCB and UOB = 0.26% or RM260/year

Interest for a day in UOB = RM10.27

Yah sure, extra about RM250 (may need to less RM2.15 for banker cheque if you don't have a current account with UOB)

But if RM10K, worthwhile? Your time per hour worth how much? Maybe if you freaking free, want go jalan jalan and no customer to make money from, then ok loh, hahaha.

Bro, it was for Savings Account new CitiGold Customer. And you forgot to add 0.35% for the Savings Account interest rate, therefore total effective interest 5.85% But only for 3 months

This post has been edited by Gen-X: Sep 18 2012, 11:49 PM

Bro, the term came about early this year when sylille used it to describe our actions chasing after higher interest rate. People like us hoping that when our FD matures there is another promotion. Adopted the term since what we are doing is like a game I guess. We do not really know what the banks are offering when our FDs mature and hoping to catch the best promo in town. Good example - SCB current offer, if our funds are only available after next week, there goes our chance.

This post has been edited by Gen-X: Sep 19 2012, 12:19 AM