check the FD rate here
http://www.imoney.my/fixed-deposit

Not worth to visit.
Bro GenX website more uptodate and analysis.
http://generationsxyz.blogspot.com/p/fixed-deposit.html

Just airing my frustration with BR.

My FD was due last Thurs and I went to the bank to withdraw. But the computer system was down. Waited for 30 mins there hoping that it would be back on line. Left after 30 mins as it was not back on line.

Called the bank to see if the system was back on line. Only got ringing tone and no one answered. So went to the bank again. Only to find out that the system was still off line. Something wrong with their fiber optic line which also affected their phones. Thus my call earlier did not get through. Asked them to call me once the system was ready.

Called again on Fri (phone was working) and said the system was still down.

Called the bank this morning to ask about their online system. Said system was working. Went to the bank and to my horror, it was packed with customers (being the end of the month). There were about 30+ customers ahead of me and I left the bank. Came back after 1 hr and I still had 15 customers ahead of me! Came back another 1 hr later and my queue number has past. Nonetheless, I went to see the section head and she tried to help me after I explained to her the multiple trips I have made to the bank trying to withdraw my FD.

When I asked whether I would get interest for the past 4 days as I could not withdraw when it was due (system was down), initially, the gent said no. I complained and later after their discussion behind the scene, they gave me the 4 days interest. Enough for 2 or 3 durians. Ha.

Just for the slightly higher FD rate, I went for BR. Now this problem, wasting my petrol, parking tickets, time, etc. Is it worth it? If I needed the money for some urgent or important payments, is the bank liable for such unable to withdraw problem?

Maybe once in a blue moon, it is OK. If it becomes too regular, then I will switch to other banks.

P/S For your infor, went to another bank this afternoon, the system was down as well. Don't know why so many down systems at the end of this year. Suggest that you call the bank before you go to the banks today or tomorrow.

which bank is that?

There is reason why some other willing to put in lower FD rate one, but the target is better service.

Those hassle and time, could be more valuable that extra money (a few 0.x% from FD) that cannot buy.

From my experience, there a few banks always facing offline issue intermittently, while some very rarely occur.

Until now, I still cannot brain that bank running ten or hundred of billions asset, billion of transaction each day, cannot ensure offline issue become minimal.

I heard this offline issue from 90's until now, still facing offline issue from time to time, even though technology has advanced so much in the last 10 to 20 years.

While there are banks that I never encounter offline issue before, despite banking with them more than 10+ years.

which branch? so you move your fund to other bank with better FD rate?

Maybank (for their ASNB service, I think)

Many years ago I used to complain about the watching grass grows waiting game at Bank Bumi but now CIMB is not that bad. Luckily. Ha.

From BR to MB as I need for my 3 main end of month transactions. No, not better rate. Sorry.

This post has been edited by plumberly: Dec 30 2013, 06:29 PM

I know what u did there today

This post has been edited by davinz18: Dec 30 2013, 07:58 PM

mind sharing with all of us which bank is that

Ya, I saw you too. You must be the Pierce Bronson look-alike carrying a big brief case with RM100 bills coming out at the side. Right? Ha.

Buying ASX units or tengok Ah Mui?

None of the above.

Foreign bank one.

hahahah, no lar. me just biasa2 only

secret

Hi guys, for Am50Plus 12 mths 3.25%, can it apply to joined FD a/c wherein 1 of the applicants is <50?

I think the ambank front line staff did told me ok...that's about 2 week ago.
I did not take that up...I took up the TOP RATE promo 4.12%
see page 40, post # 795 & 796 by forummers mhspeng & ronnie

if I am not mistaken..it is 6 month once

Thanks - that's for my parent (me as join name) who will just auto-renew yearly and not really interested on any promo rates since she will just keep it auto-renew for years to come.

Affin 1 year 3.6% is not promo, better choice no?

A steady heart calms the storm in mind...baru si the way of a warrior mah

hi sifu,

is it better to split savings say 50k to 20k/10k each and setup fd across multiple bank or put everything in a single pot?
and is efd safe nowadays for 50k in a single fd account? currently using maybank efd and its really convenient.

Thanks!

This post has been edited by anangryorc: Jan 1 2014, 02:43 PM

Happy New Year 2014 guys!

Thank You Sir, for the vote of confidence

Yes can, and it applies to most Senior FD and Savings Account offered by banks.

If your parent don't need the monthly interest payout and just like to see his/her money grow and grow, go with Affin Bank and get 3.6% board rate. Auto renewed at the highest board rate offered by any commercial bank currently and for the past few years.


To ALL:

Now, for those like me who are in our prime still feeling young as 18 and hate people calling us uncles, check out Alliance Bank FD Gold. It pays 3.25% for 12 months tenure and interest credited monthly into our Hybrid Account to go use with our Alliance Debit Cards and earn up to 2% cash back. To qualify for the FD Gold, minimum deposit RM30K (per cert, you can have as many certs as you want) and age as young as 40

Those of you thinking you'll be getting 4% or above interest rates from OCBC and HLB FD Promos for 12 months or less tenures, better you go read my comments at my FD Page which I just updated.

It is kind of hard to find a FD Promo offering above 4% effective interest rate nowadays. Even Bank Raykat's Profit Rate has reduced to less than 4% for 12 months tenure.

And if you are thinking of going with Affin Bank 4.18% 36 months FD Promo, better you hurry to AmBank and go with their 4.12% FD Promo for the same tenure.

Click here to my Fixed Deposit Page for latest updates and comments.