Oh my gosh, I've been away for so long...haven't been in touch with this thread for months now. I see that the rate is still hovering around 3.6% highest, eh?
Nothing else seems interesting these days.

How much you expecting?

No, I did not.

Will check on Monday, if still missing, then I will inform BR to correct immediately. Ha.

... regarding the BR thingy that I have been reading ...

- Mine is not change to the 1st of each month and it has been punctured this far, but it is not a consistently fix amount each month ... ...

- All banks do have back door, and there is a saying that goes - It's who you know and not what you know. Why do you think Facebook and Linkin is so famous among everyone these days? Everyone is very "hard-social-networking", mah ... ...

- I notice the hibah credited every month is consistent to a fix amount, no matter what available saving amount a person have in the saving account ... ...

- BR is not really a "big-gungho-commercial-bank" like the rest. So, I personally do expect flaw here and there, but it is not as though other "so-call-pro-banks" is that good in service as well ... ...

... and a good "weekend-teh-tarik" to all ... ...

This post has been edited by esy: May 17 2014, 08:11 AM

You are the lucky one who is not affected. Not all accounts are affected by this glitch, if it is called a glitch.

Interest amount need to be calculated by the days in the month. FD over Feb month will be the lowest monthly interest.

This post has been edited by bbgoat: May 17 2014, 09:00 AM

the 5 year rate is now too low, only 4.4%. I just move 3 certs out to MBSB for 4.7%, go to wherever that offers you better rates........if you are getting short term rate of 3.6% with repeated every 6 months,might as well fix it at 4.7%, every 100k you get extra RM1100, to me that is significant .....MBSB gave me 2 towels,some pens and a diary like book.(no need to ask they automatically bring together with the certs) , support MBSB for now. Will move out whenever BR Fd matures...

Interesting. Do MBSB pay monthly interest ?

Interesting & tempting.

But ...

in view of the "likely" FD rate increase in Jun/Jul this year, may be park the money for 1-3 months first and then go for the 35 years FD at 4.7 + 0.25 %?

Just my thought.

Cheerio.

Ha ha, you mean 3/5 years ? Not 35 years ???

Ya, I bet a lot of us thinking the same thing. 0.25% quite substantial for big amount of FD.

Sorry, I did not check my correction before sending.

I typed 3 yrs first and then realised my mistake. Thought I have over-written the "3" with my "5".

Thanks.

No problem.

I am waiting for the interest rates to go up, though those with loans will hate it.

This post has been edited by bbgoat: May 17 2014, 01:05 PM

Top Goat, you mean BR will adjust back the affected dividend date to normal FD maturity date next month?

No. No monthly interest. And no PIDM.
MBSB only pays interest every 6 months.
So for 5 years FD, MBSB will pay 10 terms of interest.

I think this is a right move...
I am a bit worried MBSB will lower their 4.7% soon..

But the down side is that when you want to withdraw a big amount of FD like over RM 600K,
MBSB branch may not have enough fund for you to make withdrawal on the same day,
if this happens, you have 2 options:

(1) MBSB HQ will wire transfer money to your desired bank saving account, this will take 2 to 3 working days,
so this means depositors will lose 2 or 3 days FD interest.

(2) If want to withdraw FD and get the check on the same day, then you need to bring the FD cert and go to
MBSB HQ to withdraw the FD.

So before you place your big amount of FD in MBSB, it is better to ask MBSB first if you can withdraw the FD from
the branch on the same day or not..?

MBSB reacts to FD market very slow.
If interest goes up by 0.25, MBSB might say their 4.7% is still attractive and no need to make adjustment..?
This is very hard to predict la..

This post has been edited by BoomChaCha: May 17 2014, 02:42 PM

I mean they should pay you the due date monthly interest in June AND for whatever FD interest which they paid you less for May month.

Only 4 of my FD cert affected. So they need to compensate in June for the difference in interest date for May month. If not, I will make a lot of NOISE !

This post has been edited by bbgoat: May 17 2014, 03:54 PM

... keep in mind there is two type of rates ...

- board rates
- promotional rates

... even if they move up the rates by 25 basis points tomorrow, banks don't have to move their promotional rates. They only will move the board rates, which most "so-call-pro-gungho-banks" is hovering around 3.15 percent on the board rates. So, if a person were to add 0.25 basis points to 3.15 is only 3.4 percent. Roughly the same with most promotional package all around hovering around 3.5 above. No way they will move 50 basis points. Many will . I personally judge a banks footing by their board rates ...

... simple maths by "budak-tadak-sekolah" also know this leh ...

... ...

I have 6 certs are affected, all are 5 years FDs.

I have not received any dividend after 1st May, except the 1 year FD that needs to be credited manually;
so BR owes me 6 FD dividend since after 1st May.

I do not think I will receive any dividend during this month..

And I do not know when will BR pay the next dividend after 1st May..?
I guess either 1st of June or FD maturity date in June..?

It seems only two of us are affected in this forum?

Best is to call BR on the "lost" interest for this month. I did not ask the BR ABM directly on this in my last call.

Based on what I heard from BR, there are more people affected. Also some other people on this forum did mention they are affected. Cannot be just the 2 of us, ha ha ha.

Ask all BR depositors here, if all of them didn't receive the div as per scheduled time, it can be a serious indication.
Defaulting a scheduled div payment can be due to technical glitch but it can be also due to tight cash flow.
A healthy banking system shouldn't have this kind of alarming indication.

Gotta to do with the recent reported Chairman & the "free" loans thingy?

It is too "systematic" to be due to any reported issue in the press. The May 1st advanced interest is odd. Also they have recovered since 4th of the month when all interest were due correctly, for me at least for the 4th onwards on FD cert NOT given the advanced interest.

Please note they gave out ADVANCED interest.