... just got to know bankrakyat drop its rate 0.5 on fix deposit ...

... its off the bank rakyat counter info inform by the cashier to me today cause I just went there to ask about it just now ... they told me yesterday was still OK, but today they already lower it and they can't offer that rate to me anymore ...

This post has been edited by esy: Dec 3 2013, 01:14 PM

... across everything from 12, 24 and so on ... at first they told me only for 60 months and 60+ months, then a few minutes later they come back and told me all is effected - 12, 18 and 24 also ...

... ok then ... guess they are still ok among the rest ... i was kind of suspicious when they start reducing rates because I notice the rest of the bank downgraded their depositor rates, and the next thing I notice was down graded by Standard and Poor rating ... anyway, if i am not mistaken bank rakyat is actually cover by PIDM ... saw they put the PIDM logo below their website ...

... hummmm ... not very nice ...


... care to share your thoughts on this one ...

--> AffinPlus2

... thinking about it myself ... ...

This post has been edited by esy: Dec 3 2013, 06:28 PM

... thanks for thoughts guys, but if i do consider it won't be a short term thingy ... ...

... out of my curiosity, don't mind me asking which local bank is actually making profit during the 1997 financial crisis ... ...

... ... i think i know which one you guys refering to ... tks for the info back ... ...

... looks like bank rakyat got some serious problem with their site ... hummm ...

... it looks like AffinBank Islamic Fix Deposit is also the same as conventional rates at 3.6% for 12 months with a minimal of 10K before depositor are able to enjoy an early creaditing of profit of monthly, 6 month or yearly, while BankRakyat need a minimum of 20K. Please reconfirm with them again as I was just there asking for more info on their Islamic Fix Deposit products comparing to BankRakyat ...

As for some of the above question on rates ...

- Bank Negara may raise interest rate by 0.5% ...

- Higher interest rate seen in Malaysia ...

- Zeti Says Malaysia’s Base Lending Rate ‘Less Relevant’ Now ...

- IMF backs Malaysia’s decision to impose subsidy cuts, GST ...

- Better sentiment towards Malaysia? ...

... last but not least ...

- Improving US economy leads Fed to ease stimulus ...

... hope the news above help in some way ... ...

... looks like you are not expecting it to go any higher than this mark any time soon in the near future ...

... hummm ... gst (Good & Services Tax) or gsc (Golden Screen Cinemas)? Do they give free movie ticket to depositor too? ... ...

... as far as I know you can't ... they don't even allow within the same city like KL or Selangor even though its from the same bank but different branch ...

... got to know from the bank that there is no more "tier-type-of-fix-deposit" because central bank instruction ... I guess it the type of fix deposit that give you first month 2%, second month 3% and so on, where a depositor will get an average of % in the whole year ... please clarify yourself with your banks if need more info as this is just information I got to know ... cheers guys ...

... huh ... I oni get tower ... guess BR trying to tell me to sweat more to put money in their bank leh ...

... lol ... same here too ...

... that is one reason why I prefer straight forward fix deposit ... most banks use it to advertise their brand, confuse potential customer and by the time you realise -- it will be in one year time ... I also thought bank negara have put a stop to such confusing depositing method ... anyway, I always have a bad feeling about our banking financial health when ever I see such method is practice, or else why they won't want to offer straight forward method to customer ...

... just for you guys reading pleasure and food for thoughts ...

--> Short-term rates to remain stable on intervention by Bank Negara

...

... looks like BR has lost its attractiveness to me ... not really worth to move 2% difference between if deposit is small ... which most banks these days is hovering around 3.7% at board rates ...

This post has been edited by esy: Mar 10 2014, 01:26 PM

... maybe I type too fast ... the most banks for me is between Bank Rakyat and Affin Bank, while Public Bank and AmBank is under the watch list ...

Affin - 3.6% --> Link ... I dunno if there is any latest change -- if there is one ...

... the rest can be down the bowl and flash. Another reason for BR is not so attractive or going to be -- is their PIDM and lack of branches, but if I am not mistaken they have lower their amount from 10K to 5K for monthly collection of interest. Then again, would anyone move for just a bit of difference of 3% -- hovering between 3.9% and 3.6% if the amount is small. 3.9% is 39 ringgit for every 1K yearly, and 3.6% is 36 ringgit for every 1K yearly -- just 3 ringgit difference, and every 10k is 360 to 390 ringgit, which then 30 ringgit difference divided by 12 month is 2.50 ringgit difference monthly gain, but for 100k above is understandable of the worth of difference -- a 25.00 ringgit monthly gain difference of a roughly at bit less than (sort of roti canai) 1 ringgit a day profit -- hummm ... OK lah ...

** My speculating thoughts to share --> most banks won't (or able to) move their interest rates is because of high household debt and low wages during the cheap loan times. They will be facing high defaulter if the interest rates move. Even US is facing the same problem, but they are making sure of job growth as Yallen slowly pull back their bond buying within this year. Can we move that fast between a year? If I am not mistaken, when Bank Negara decide to maintain the OPR at 3% again already stated we are more interested in domestic growth. Just growth can mean many thing -- like China doing prime pumping for growth artificially through cheap loans again. Well, US realise it won't work forever by printing money for growth all the time, right? ...

So, will interest rates move here any time soon? I really doubt so it can even if it want to, but US will move soon as foreign investor has systematically leave Asia, and back to the west, where Malaysia have already put in place policy where funds can only leave Malaysia systematically. This policy was put in place during the Asia financial crisis times when floating loan interest rates can hit as high of 8% ...

... cheerio for the day -- like I say just my speculation thoughts to think about ... ok eh ...

... the word here is expect as you highlighted, does not mean the can be easily achievable, but Islamic banking sector is about 45% of the financial market at this moment, and BR is the largest of them all - if I am not mistaken. Investor is also leaving Asia as a whole back to the west, as Yellen is expected to release bond buying, which means there is expected a lot of available asian currency floating in the market. Just like gold, it is useless, too much and devalue if it is lying around doing nothing.

** Purely my speculative thoughts here to nibble for the day. I am no expert -- ok ... ..

This post has been edited by esy: Mar 17 2014, 12:34 PM