We welcome 2 new members: besiegetank & flyingteeku   

Members Recruitment for FD Group Deposit Campaign
Objective: To consolidate all members' funds to bargain for a better FD rate with the bank
Minimum FD deposit: RM 50K per member
Target total FD amount: 2.5 million or more
FD Tenure: Tentatively 1 year
Recruitment Deadline: 31 May 2014
No Obligation: Members can retreat anytime before we negotiate to the bank
Prohibition: Members who registered after March 2014 or less than 300 post counts are not allowed to join this campaign

Disclaimer: No guarantee will success in this group FD plan

Participating Members

Members Ok without PIDM (10)
bbgoat
HJebat
gchowyh
plumberly
tbheng
guy3288
helob
McFD2R
besiegetank
BoomChaCha

Members want PIDM (6)
bearbear
munkeyflo
Nostalgia
MNet
wodenus
flyingteeku

Now we have 16 members, total RM 800K

Plan (my brain storm only)
(1) Consolidate at least RM 1 million fund from all participating members.

(2) Appoint representative to negotiate with the bank.

(3) As suggested by Warrior HJebat, after bank says OK, then representative generates and PM confidential code (for bank to  recognize members' identities purpose) to each participating member so that members can place their FDs at special rate by submitting the code to the bank. Each member will get one unique code only.

(4) Members can place FDs in their local bank branches.

Any suggestions are very welcome..Thank You

No illegal deposit taking as each individual will go to the Bank to perform your own FD with given a special "preferential FD rate"

This is a very good question.

In fact, participating members will place FD by themselves in one of their desired local bank
branches.

Each participating member will receive one unique code via PM from the representative, and
participating members will use this unique code to get a special FD rate from the local bank.

Our representative will submit all unique codes to the bank HQ to identify our participating
members.

All members' privacy will be 100% protected.

Thank you very much for your comment and concern... 
Please let me know if I am not answering to your question.
You further questions are more than welcome..

I believe this is the first time of Group FD Campaign ever launched in Malaysia.
Definitely to use your money to pay off housing loan first.