Yes...but I have not done it yet.
I just withdraw my interest every few months.

Yes, you told me before. I will do it as soon as possible.
Thank you

Don't know the interest rate will go up or down by next year..?

This post has been edited by BoomChaCha: Sep 2 2013, 11:16 PM

Reference: Affin Bank Savings Account Revision of Rate

Existing

RM1.00 - RM999.99 - 0.90%
RM1,000.00 - RM4,999.99 - 1.45%
RM5,000.00 - RM19,999.99 - 1.90%
RM20,000.00 - RM99,999.99 - 2.80%
RM100,000.00 - RM499,999.99 - 2.85%
RM500,000.00 - RM999,999.99- 3.10%
RM1,000,000.00 and above - 3.38%

w.e.f. 23 Sep 2013

RM1.00 - RM999.99 - 0.50%
RM1,000.00 - RM4,999.99 - 1.00%
RM5,000.00 - RM19,999.99 - 1.90%
RM20,000.00 - RM99,999.99 - 2.80%
RM100,000.00 - RM499,999.99 - 2.85%
RM500,000.00 - RM999,999.99- 3.10%
RM1,000,000.00 and above - 3.38%

Only the top two tiers are affected.

I am looking for 3 month ...for may be 6 months since many banks are lowering down their rate..

So what the BR's ABM told me last Friday may be correct, that the FD rate may come down ??

Indeed they did, and I missed the boat by a week as I didn't realise it would end during that month. But now, just placed mine for 3 mths at 3.15% which compared to Maybank, 3.15% is for 12 mths.

Had a banana for bfast and that should last me till lunch

Just started to stalk this thread. Very informative and good sharing by everyone here

Thanks for the reply. In that case, i don't need to track the interest earned from my FD. Thanx

Random thought of the day. Sometimes I wonder if it's worth my hassle to switch from one bank to the other due to very small difference in interest rates. Let's say I'm used to OCBC, would I wanna bother changing to a new bank (never dealt before) just for a slightly higher rate?

At the end of the day, the actual value is probably just not that much. How much do you think is worth the switch and risk? RM50? RM100? Or does RM10 enough to sway you?

Would like to hear from anyone on this

You are welcome.

To ALL: I just updated Post#1, any other FD Promo(s) from Commercial Banks that I missed and worth mentioning?

Ha..ha. at last some one who is also tired of playing musical chairs. It depends on the total fund involved. For me I concentrate on two major banks for my main funds, a few lesser fund in eFD, enough funds for a year use in CASA.

I would think gains above RM100 pa is worth the shift provided it is convenient.

I just saw the promo by AmBank:

3.55% pa for 9 months, 10k min, fresh fund.

This is a direct old fashioned FD right, no CASA, no step up?

Ha ha, "wise men think alike" ................

To me I always look at the return for the effort to switch to another bank. RM100 pa is the minimum for me to do the move (single move of a FD to another bank). Most of the time it is higher than that for a new account.

Like Citibank, 1 year FD at 3.05% versus BR of 4.2%, it can be substantial depending on the sum involved.

It depends very much on the individual's as well. Like someone has commented, super rich people may just park their cash in foreign banks and don't care so much on the different FD interest.

But for others they may have lower threshold of "gain" to do the FD move.

This post has been edited by bbgoat: Sep 3 2013, 06:26 PM

MACH Gurney Paragon Penang, 1st Mach in Penang 3.55% for 3 months , minimum rm10k, end Oct..compare to KL 4% promo earlier..this is comparatively low...again a sign of interest rate going downwards....

Its better to wait for Thursday BNM revised OPR ! I think

I think I know your threshold of gain is higher than most of us .. VVIP...

A 0.1% pa diff to 100k deposit is RM100. So if you have many multiples of that, then it becomes interesting. Does not applies to me of course..

Its why chasing after musical chairs is for mostly loaded people, and the dont haves like me opt out due to pittiance advantage.


This post has been edited by magika: Sep 3 2013, 07:33 PM

Really loaded people do not play FD musical chair or play partial one like those that concentrate on few (2) banks .................

But of course some of the really loaded people are different, they do play the FD musical chair. But not me ...........................



This post has been edited by bbgoat: Sep 3 2013, 08:02 PM

Noted, updated 1st post to benefit those in Penang Island

Thank you, Captain !!

Mach previous promotion of 4% is really good, those of us in Pg missed it !

What is ur ATM card type?

How much u deposit?

I do not think there will be any change.

Rise? Will harm the already slowing economy.
Drop? No the right time, as it may send RM depreciate more against USD, which may result in inflation issue especially just after the petrol price hike.

Actually a few days ago, I said that BNM will not dare to raise rates. But since today increased in petrol prices, it seems that they have broken the psychological barrier, so just maybe there is the possibility of increasing a bit.
One thing to take into consideration is that household debts increasing so maybe it could reined it under control a bit.


This post has been edited by magika: Sep 3 2013, 10:10 PM