Raise rate when the economy report shrinking export, lower trade surplus, and slowing GDP number?

I cannot brain it.

Well ringgit value already went down so that enough, i think...
Petrol prices up later GST so enough to stimulate stock market as prices will increase all around..

Well, at least got some hope for us playing musical chairs, can mah...

This post has been edited by magika: Sep 3 2013, 10:14 PM

RM only went down against USD, SGD.
Against the like AUD, NZD, it is not.

RM is not alone on this, regional currency also facing this, due to expectation of QE tapering.
At 3.27~3.35, I think BNM still can tolerate, as a slight lower rate may boost already shrinking export.

It is too soon to react by raising rate at the moment, as RM depreciation issue is not as severe as Rupiah or Rupee, at least until now.

In fact, look at bank FD and FD promotion around, it doesn't suggest bank see rate is rising either.
FD promotion rate is getting lower across. In fact, very few offer long term promotion rate to lock down customer.
(when rate is set to rise or bank see rate going higher, bank generally want to lock down the rate to make more profit in the future when rate rising).

Ringgit down 10% against Reminbi too.
All made in China FOB import up 10%, be it in USD or RMB term.

I told Ocbc staff about this Mach and Mach FD rate will be better than that of Ocbc after 10 Sept..Ocbc staff not even know about the existence of Mach...not surprise too when Mach first started up in KL, I asked Hong Leong bank staff about Mach, they also dont know about it..

This post has been edited by gsc: Sep 3 2013, 11:56 PM

You'd better double check with OCBC again, OCBC help line said this promo is
already ended during June this year.

I am thinking to go for OCBC 1 year FD at 3.7% which will end next week, 10th of September

I heard Taiwanese money exchange merchants do not want to accept Ringgit..

Thanks for the tips, I changed my mind after I read your comment

This is a psychological battle for interest rate in between the banks and depositors..

This post has been edited by BoomChaCha: Sep 3 2013, 11:18 PM

For Am Bank's Offer #1, 3.55% rate for 9 months FD, it does not need to sign-up CASA,
but AM bank calculates the FD effective date after either your personal check or banker's check
is cleared.

I was thinking to place one of their longer term FD promos in Offer #2. But now I do not want
it anymore.

The weather is very difficult to predict now..

Bro, when you at OCBC, go talk to your RM about their NID (Negotiable Instruments of Deposits) - Capital guaranteed interest 4.5% every quarterly. That is if you willing to lock your funds with them for up to 5 years. Then again, might as well go for BR 5 years, interest paid monthly

And the NID mentioned above also qualifies one for the Premier Banking 5.5% 3 months FD, but since you already got PB, I guess you got to open joint account with someone (currently non PB customer) you trust

Bro the offer #2 not attractive if compare to BR

This post has been edited by Gen-X: Sep 3 2013, 11:36 PM

Just focus to place FDs in 2 banks..? Unbelievable..?
Unless you place your FD only in Bank Rakyat, and 5 years FD in MBSB.

Agree..

Musical chair has to be played.. If you do not play with it, you make less profit rate but this provided
the Ringgit deposit amount is big enough to justify the opportunity cost..

This post has been edited by BoomChaCha: Sep 4 2013, 12:07 AM

Oh.. really? Tomorrow maybe I go to OCBC again to ask for NID.

I do not have a dedicated RM, even my PB status is still in active.
All OCBC staffs there are only talking about their investments products..

I have placed a lot in BR for 5 years FD, you think I am not scared meh...
Especially after learning about the Titanic and eating issue recently... ha ha..

And I need to diversify my funds also, never put all eggs in one basket..

Thanks Captain

This post has been edited by BoomChaCha: Sep 4 2013, 12:34 AM

Having 1 FD with UOB maturing tomorrow and still have not decide what to do with it. Quite tied up with work in few days so maybe will get my dad to place at AmBanks 3.25% for 12 months.

Bah! I already have quite a large chunk of fund in AmBank under the same 3.25% rate, multiple certs

Why not go for 3.55% rate for 9 months..?

http://www.ambankgroup.com/en/Promotions/D...ateDeposit.aspx

Why go for 3.25% 12 Months when you can get:

1. 3.6% Affin Bank
2. 3.7% OCBC (13 Months)
3. 3.25% for Alliance Gold too (interest credited monthly too like AM Senior FD) BUT go for Privilege Banking by opening joint account with your dad and both of you can qualify for the Alliance Premier Debit Card and get both yourselves FREE entries to LCCT PPL

This post has been edited by Gen-X: Sep 4 2013, 12:09 AM

Just saw your reply up there. Yeah, looks okay since no CASA, no step up. Simple.

Captain, if I remember this correctly, Human Nature is from East Malaysia,
there are no many banks available in his area...

Correct me if I am wrong, Human Nature

I am from Melaka

-Affin Bank is situated at the other side of the town
-OCBC promo is joint account right, so I am not able to be there. I will check again what is their closing hours and whether it is still available (ending 10th Sept)
-Very hard to consolidate all fund to get the PB, so many multiple certs already supp my RHB VS to my dad, will utilize the 4x access fully this year

The funny thing with my parents. Dad almost exclusively place FD with Ambank, Mum exclusively with BR. Only when I join the scene, I started to move some to UOB, CIMB and recently OCBC.

No lah, his location is Melaka.

hah he beat me to it.

This post has been edited by Gen-X: Sep 4 2013, 12:37 AM

Aiyo... then there must be somebody else..

Old man is like this lah... memory is getting worst...

Hungry now.. need to go out to get something to eat...see you soon.. bye..

This post has been edited by BoomChaCha: Sep 4 2013, 12:41 AM

I forgot to remind you..

Am Bank will need to clear your check (either Personal's check or Bnaker's check) first, then they will
give you the FD cert, and the FD effective date will calculate when your check is cleared.

So, you need to go to Am Bank 2 times...

You can call Am Bank help-line on the top right hand corner of their website.. all the best..

Yeah, got it. Thanks for the reminder.

OCBC closes at 7pm, can probably sneak in after work. Just to re-confirm something. My dad and I already have a joint account with OCBC. Do I need to bring my dad along for a new placement? I recall he would need to tag along, but don't understand why. UOB is good in this sense.