Planning to put in about RM50k. Is that ok?

different of 0.5% for about 6 mths...RM 125
i think post 1 did have the info and links

Hmm, maybe can try out OCBC's +5% on the top of existing interest rate as part of their promo.
Not sure if it's worth it though, may not earn that much for a month's deposit.

Btw, looks like it's a quiet time for Nov too. Not many new promos, anyone found anything interesting?

kambing...

think u already know... this again has been extended to Feb 2014.

i like it, saves me the trouble for looking for anything since this is 5.2%, payable qtrly!

hope it goes on and on until bnm raise rates like hell for watever reason...

nb... tis is a cimb frnid, a klibor based structured deposit, not fd...

This post has been edited by AVFAN: Nov 4 2013, 09:27 PM

FRNID is not a FD.
A structured investment is not a FD.
Interest is not guaranteed, and only given if meet the criteria set, if condition is not favourable, one may get nothing from it as well, depended on the structured investment set.

I agree, uob damansara uptown slow like snail...

ya, tats what I said, not fd.
interest not guaranteed but principal is.
those non-pidm fds, guaranteed meh?

This post has been edited by AVFAN: Nov 4 2013, 10:54 PM

I dont trust FRIND again, played out by CIMB before. First you have to pray that the Klibor or whatever index falls into your favourable ranges, if not no interest or very much lesser. Then you have to pray that the bank dont play you out when KLIBOR range is in your favour.

You cant beat the bank, when they have an escape clause "call back".

Say FD Rate goes down to eg 2% pa you might think you are lucky signing up for this FRIND that promises 5.2% for 3 years. But wait. dont be happy too fast, the bank can do the so called "call back" and return your capital when prevailing FR rate is so damn low.

I kena before, when KLIBOR out of ranges few quarters no interest they dont do call back. When index come into the range and I got the 6% or so interest for 2 quarters only, the bank started to play dirty - they called back the FRIND and returned my capital. End up after 2+ years only got something like 1% pa on average.

Better go for long term FD, you are assured of that rate till the every end.

This post has been edited by guy3288: Nov 4 2013, 11:51 PM

right... i understand and follow... no problem...

perhaps i have been lucky so far, almost 2 years, interest in full and on time.

i spread my blood and sweat money all over, incl fd or frind or reits.

i just try to be very careful about the risks vs the rewards about anything.



anyway, sorry to bring this frnid up here - this fd thread. apologies....

just thought fd has been so boring lately!!

I experienced before, bank prematured call back the structured investment.

So whenever there is clause of call back, I told the banker can straight away end the conversation, save time on both party.

Thanks for your input...agreed with you that all foreign FD interest rates are very low compare to local currency FD rate. The only comparable rate is Aus$ but the exchange rate is not favourabe to take up the foreign F?d now..

Ya, still receive the 5.2% every 3 months for close to 2 years.

On hind sight as discussed by cherroy and others, I would not have invested in this in the future since CIMB has the upper hand of callback.

This post has been edited by bbgoat: Nov 5 2013, 06:02 PM

one last comment on this frnid...

if they recall now, what did you lose?!

One thought came to my mind a few days ago. Someone raised the question about getting multiple FDs when the amount is large. Tied to the large amount is the ability to negotiate for a higher rate.

Now, the potentially good part is, in the event that one needs to prematurely withdraw some money, then one can terminate one of the FDs without loosing out interest on the rest and also still keeping the higher rate for the remaining FDs.

This is of course provided the bank does not keep track that these FDs are supposed to be a package for the higher rate and does not allow customer to partial withdraw.

Anyone has experienced this?

Cheerio.

If you put all in 1 cert you are stuck if u need part of that money in emergency.

i think once they allow you to place multiple separate FDs, each FD is independent, so prem WD from 1 cert should not affect your negotiated rate on your other FD certs.

Remember not to just stagger out the amount , also stagger out the date ie instead of RM300k on 4.11.2013 make it RM50k on 4.11.13, 50k on 4.12.13 etc.. BR allows me that.

Not much difference for UOB I think. Just check with the bank.
3-months at 3.4% (95% in FD, 5% in CASA or can try negotiate to put one lump sum of 10k in CASA if amount of large)
12-months at 3.55%
13-months at 3.65%

If you separated your funds into say 3 FDs and you placed it at a certain promo negotiated rate then. When you decide to prematurely withdraw 1 of the FDs, the other 2 will remain no change until it matures.

This is my experience with most banks. Every FD is on its own and has its own receipt number. Withdrawing one does not affect the rest.

Best straight up 12 month FD right now is Affin Bank at 3.6%? Is that even a promo or on going rate?

Thanks for your spread strategy.

Thanks for the feedback from your experience.

I think the Bank judge your total deposit amount by "per account" basis, not per FD cert/receipt. Multiple FD receipts wouldn't affect negotiation for higher rate.