NID is not a bank FD, technical it is different with FD.
It is more like structured product.

It is like you give bank a sum of money to invest into whatever as pre-determined investment product.

Some 250K,

All banks have it.
No.

NID is not a bank FD, technical it is different with FD.
It is more like structured product.

It is like you give bank a sum of money to invest into whatever as pre-determined investment product.

Aiya, just read here that Affin gives out so many gifts for 100k FD and can withdraw without losing interest somemore at 3.6%? And I thought OCBC's 3.6% now is the best.

Thanks for your explanation. So it's not FD after all. Sorry accidentally OTT.
It's not exactly FD and no PIDM as well.

Oh, yours weren't? Sorry, I must have skimmed through too fast.

Some 250K,

All banks have it.
No.

NID is not a bank FD, technical it is different with FD.
It is more like structured product.

It is like you give bank a sum of money to invest into whatever as pre-determined investment product.

Who were able to invest in NID previously?

We contacted the branch manager before going to the bank for their FD rates and he told us that we can opt for NID if we are interested.

the rate offered is so high. I am worried if they are safe.

Even with the damn high rate, I'm not convince & don't "feel" safe to enter 

So bro, in order for premature withdrawal  we need to find a buyer thereby offering a discount .

Thanks, I am abit sceptical about the deposit too since it started in 2012 & the Corporation only has 1 outlet so far.

I am also not too sure what assurance it has by being registered with KPN Koperasi Pembangunan Negara

Thanks partly to the people here, Bank Rakyat just declares 15pc dividend. People who funded them gets 4% and shareholders makes 15%.

http://www.nst.com.my/business/latest/bank...vidend-1.511068

Some 250K,

All banks have it.
No.

NID is not a bank FD, technical it is different with FD.
It is more like structured product.

It is like you give bank a sum of money to invest into whatever as pre-determined investment product.

Thanks Cherroy for the clarification/info.

Klibor is also a form of NID, right ? We have discussed about Klibor here several months ago. Cherroy has also gave some explanation on the Klibor.

I have the CIMB Klibor which gave 5.25% return. 

Thanks Cherroy for the clarification/info.

Klibor is also a form of NID, right ? We have discussed about Klibor here several months ago. Cherroy has also gave some explanation on the Klibor.

I have the CIMB Klibor which gave 5.25% return. 

wow 

I was not too happy about it after the last discussion we have in this FD forum. It is 10 years though 2 years has passed (payout quarterly). But key point is the return is NOT guaranteed and may not get any return if the interest rate move against me. 

Also it is callable by the bank and cannot terminate prematurely by me (have penalty). 

oic. then It's not very good & there's some risk involved. The return also not guaranteed 

Ya, regret about it. Now waiting and hoping CIMB will recall it. Previously CIMB has recalled the Klibor once. 

Not much la, above 100k lor. They were quite generous with their gifts la. Wanted to nego on rates but not enough bullets

Negotiable Instruments of Deposit (NID)

Negotiable Instrument of Deposit (NID) is an instrument issued by a banking institution certifying that a certain sum in MYR or Foreign Currency has been deposited with the issuing bank for a certain tenor at a specified rate of interest (coupon rate may be fixed, floating or zero).

WHAT IS A NEGOTIABLE INSTRUMENT OF DEPOSIT (NID)?

    NID is deposit document issued by the Bank to a customer certifying that a certain amount has been deposited with the Bank at a specific rate and for a specific tenor (i.e. with specific maturity date).
    Unlike Fixed Deposits (FDs), NID is negotiable. This basically means that it can be sold before its maturity date. If the customer needs to realise cash before the NID maturity, he has to sell the NID. However, the NID cannot be withdrawn prematurely like in FDs.

GENERAL CONDITIONS

    Tenor available is between 1 month - 10 years. Tenor may also be fixed in odd number of days e.g. 105 days.
    Amount must be placed in multiple of RM50,000 subject to a minimum deposit of RM100,000 per deposit. Minimum denomination is RM100,000 and maximum denomination is RM10 million per certificate.
    NID rate is generally influenced by interbank rates and may be higher or lower than the bank's FD rates.
    However, for amounts that are below RM500,000, the rates are about the bank's FD rates. Like STCP, larger amounts normally have a higher possibility of attracting better rates.
    Interest on NID is based on simple interest formula like STCP:

Interest = (PRINCIPAL x RATE x NO. OF DAYS) / 36500

http://www.hlb.com.my/hlm/hlm/hlmmpd.jsp?flag=hlmmpd