BR Penang held a Hari Raya Aidilfitri open house in Tapak Pesta. It is Penang wide event. Food not bad, have various curries, satay, laksa, ice kachang etc. Lots of people attended. Door gift of a cup and cup cake given.

Their staff very courteous, even can get the dishes/drinks for you.

Met the branch new manager. Told him their FD rate not competitive. He said they knew it and HQ reviewing their rates at the moment.

Opened FD and SA in Affin today. 15 mths FD at 4.05%. SA with RM110. But their SA must have activity every 6 mths vs other banks of yearly must have activity ?? Quite fast, all done within 30 minutes

They also have open house on coming Thursday in their branch. Anyway enough food for me already. Ha ha ha.

This post has been edited by bbgoat: Aug 19 2014, 06:18 PM

huh? like tat one also got meh?

They mean inactive acct, then deduct RM10 as discussed before in this thread. But most banks as I knew it is yearly must have activity in SA.

what I mean was why 6mth vs others 1year?

Ya, I told the Affin staff that but she just repeat that for Affin is every 6 months. Anyway going to IBG out the RM100 in the SA and left RM10. That considered 1 activity al'dy

This post has been edited by bbgoat: Aug 19 2014, 07:01 PM

Eh, I thought you want to deposit your FD earlier in MBSB? Worried that the rate will be abolished or something. Why delay the placement till December?

Anyway, having one more kaki to join me to deposit in December sure add to the fun la Wonder which MBSB branch offer better gift on the brink of their merger. And let's see who will make premature withdrawal?


Recently, BR has been cutting down on its gifts quality & quantity. Futhermore, I have received BR CNY hamper on a single occasion only. The content was nothing much to shout about, comprised mainly of junk food.

MBSB has more distinctive CNY gift-giving practice…offering cake & mandarin oranges

Wrong info by the staff…minimum amount to open an account is RM20.00

After I completed the 4.7% 5-yr FD, the staff there gave me a bag with 2 pens, a fridge magnet & a mug without me having to ask for gifts! Bravo to them.

Compare this to BR's gifts of an umbrella & a hand towel for 2 separate FD's BUT I had to ask for the gifts!

BTW the MBSB branch at Glomac, if not at end/beginning of the month, was empty when I was there last week. In & out in a jiffy!

FD long term is much better those structured fund. I invested in Public Bank structured fund. One is 5 years and the other is 3 years 9 months (if I remembered correctly).
For 5 years, the return is about 3.5% which is low compared to 4.7% offered by MBSB.
The other even worse about 1% return.

http://www.propertyguru.com.my/en/property...m_content=links

The structured product comes with promise of high returns coupled with high risk and volatility. I also have encountered not even any returns but plain losses before.

It is inappropriate to compared a structured product with FD.

Structured product carries some risk in between to achieve high yield than normal FD rate, while if situation is not favourable to the structured product, it can result in zero return or lower return rate than the anticipated rate.

So it is different with FD entirely.

For FD "fans" the structured product that may suit to the appetite may be Klibor structured product, whereby there is nothing to lose in between.
For eg. a Klibor structured product that carries 5% return if Klibor doesn't exceed 4~4.5% in the next 5 years, you are paid 5%. If exceeded, zero return.

So if Klibor rate doesn't go up (or in other word FD rate doesn't go up), you get 5%.
While if Klibor rate goes up, you get zero from the structured product, but at the same time, your FD can get a raised FD rate already.

So in between, you have something to gain.

The concept you mentioned, similar to some big corporations hedging using options to protect their interest ? Either way the market goes, they are hedged with protection/profit.

This post has been edited by bbgoat: Aug 20 2014, 09:09 AM

Yes.

Especially I see FD rate won't be raised drastically, then this Klibor structured product is good alternative as hedging tool.

Any link / site to read more about Klibor structured product?

Affin back. That's weird. The last time I placed 9 months FD there, they didn't ask me to keep my SA active after 6 months wor.

After FD due, I withdrew everything and close the SA.

Aiks, aren't 2nd round opr might coming on Sept 18? Bro so fast deposit for 15 months?
Weird leh.. last week deposited 3 month FD in affin as well, but does not require SA or it is promotional??

Ya, a bit strange vs other banks requirement to keep SA active within 1 yr with activity. Anyway I will ignore it and keep RM10 in SA (using IBG).

It is not available at anytime like FD.

The actual details mostly need to get from the bank RM or officer as every series may come with difference clause/condition preset.

Normally it is launched periodically.

There are plenty of structured product carried by banks or investment banks, Klibor is just one of them.

There are share linked structured product as well, whereby you are getting pay like 8% if the underlying share price is sitting within the specific range under the observation period, DCI etc. But I do not think it is suit to FD "fans".

Klibor structured is actually quite simple.
If Klibor within the specific scope range, like not more than 4%, one is getting paid 5% interest every 3 months.
If Klibor surge or out of range set, then you are getting zero, while your principal is intact until the its mature.