I have my suspicion as well. There are a few indications that lead me to doubt the trustworthiness of BR:

1. Cheated on me regarding the introducer fee

2. Dubious gift practices

3. Implements flip flop policy on the nego rate amount

4. Revised down the FD profit rate twice within a span of a few months

Those indications give a slight hint to me that there is something very wrong/menacing brewing in BR

If BNM raises or does not alter the OPR, but BR revised down its profit rate again, I'll definately pull out all of my $$$ from BR

I also asked if later this month will it be possible to have nego rate again they said yes.
Maybe they re-org after the 'incident' but on my end didn't really notice any changes.

We can only monitor & wait.
Guess many banks have their problems too. Like AM Bank, the new RM never bothered to intro herself to me & even when I went there, she didn't even appear after half an hour!

Guys if ur business acc is the same as the bank u planning to put ur FD, definitely can try to nego.
Oh ya, this is for monthly FD.

But of cos it still depend on the branch manager and your skill. What I do is

First I ask them the rate from their normal staff, then I told them this and that bank higher wor, can't you up abit?

After thinking and looking at their monitor, they said nd to ask their boss. So after waiting for few minute, their boss come out and ask to enter his office.

At first he will ask how much u can put, so I said half of the amount I want to put. He offer 3.2.
So I ask again if I add another 200k can up till 3.4 or not. Well I was just joking and testing luck. Unexpectedly he said can offer till 3.3.

This make me wonder, maybe due to my business and personal acc was in the bank so they can offer this rate.

Largely contribute is the branch manager. Talk nice and respect with them. Sort of like chatting with friends.
Remember is they have the final say on yes or no.

I've heard of RM, but have no idea what it stands for...Regional Manager? Relationship Manager? Ringgit Malaysia?

Maybe the RM knew that you've put most of your money in BR, so showed her discontentment towards you



Which bank offers you 3.20%/3.30% for FD placement?

What's the tenure of placement?

Hong Leong Islamic FD can get 3.65% for 12 months

This post has been edited by ciohbu: Jun 12 2014, 03:56 PM

RHB
it is monthly placement. same as 12 months FD but its only last for 1 month. the next month also same rate. i felt like if put in saving, the rate is tooooo little. so i choose this.
the reason i choose this because i believe 12 months FD gonna spike within this few months.
and i dont wanna put in current promotion.
this way, i can withdraw and put in other much higher 12 month FD after the BNM decision.

Big timer, only big timer will do as above. We small fry may have to try the same trick. But the amount involved has to be high.

I have the same thinking as you. From now until July/August, any FD placed will be short term of 1 to 3 months only.



This post has been edited by bbgoat: Jun 12 2014, 04:48 PM

i really think is up to the branch manager or the one they called boss
and most important is our attitude. if we respect ppl, ppl will respect us back and willingly to help us.

erm, if got two 50k cert then also can nego. i tried with HLBB b4. mange to get 3.65 for 12 month FD last year expiring soon too

nice~! i was worrying that only im thinking like this
hopefully will bump up to at least 4%, mine expectation. lol..

Earlier I almost forgot what was the short form of Relationship Manager too. It is RM.
Nah, is a new RM which I never talked to before.



Sorry xcxa23, I tried building a rapport before with AM Bank & it didn't work, be it with the branch manager or with the Priority Banking relationship manager.
The only benefit i got was they closed one eye for the recent FD promo where it requires fresh funds.

finally, an official page and T&C for this.



Source: Maybank | T&Cs

3.30% for 1 month FD placement is a really good rate.

Any additional T&C attached?

well, its very subjective cos not every branch manager are easy to nego.
i also tried to nego with pbb in but he keep insisting that the rate is fixed and cant be change.
that time is also 2 50k cert but man, when i tried nego, the facial expression of the staff is like looking down at me.
at least u no nd fresh fund.

nope... no additional t&c, jz need to nego with the branch manager

During the negotiation, some particulars like minimum placement, minimum amount to maintain in FD, premature withdrawal rate, longest permissible period for 3.30% etc. must crop up. Can share share ka?

Haha Last time a friend told me, Public Bank does not need our money.
Actually they have improved alot as years ago they never had any promo.

Erm... Minimum I think is at least 6 figure.. As for how long, he din says minimum how long but I got told him that if any rate attracted me, I will go for it. Then he said for promotion, he still haven't get any news from hq. When it's ok, he will infrom as frequently will go to bank to bank in/withdraw money.

Haha.. I guess they have no eyes for small fry like us. They only interested for 7 figures.
Oh ya, I jz remember my friend said ammbank branch manager every few months will bring him red wine personally. Its true cos I got saw the manager at his house b4.
U can see how realistic some of them.

Wonder how this news gonna affect FD rate.. Hmm
Short-term rates to remain stable on Bank Negara intervention
Any comment?? Or it is irrelevant for FD?

BANK RAKYAT - NOT Eligible for PIDM

If you are willing to go deposit with a non PIDM member, then check out Bank Rakyat Deposit Account -i which is based on Islamic Principles and like all Islamic banks' products, the profit rate cannot be guaranteed.


===

hi , can i ask ..what is the meaning of profit rate cannot be guarantee?

let say if i place 100k into their 1 year FD ..does it mean i am entitled to cash out the interest rate monthly?

what happen if i decided to cancel my FD after 8 months? is that any penalty?

Sorry of this is not the right place to ask. I need to play with FD now besides the usual ASB, ASW etc..

considering now I am now in overseas and will stay here for quite sometimes, I plan to do FD placement electronically (I saw from M2U and it seems possible). my question: after we do the FD placement online, would the fund with profit go back to our let say Maybank account after maturity period? how instant the fund will be transferred?

You can choose either credit back to account or rollover to principal upon maturity during e-placement. For first placement could take up few days to effect. subsequent placements is instant transfer.

This post has been edited by cappuccino vs latte: Jun 13 2014, 06:02 PM

https://www.irakyat.com.my

tutup kedai?

Logic will tell you there will be penalty for early upliftment. Otherwise all people will place their FD for 60 months or above to enjoy the highest possible of interest rate! To what extent of the penalty i do not know maybe the regulars who have FD in bank rakyat can enlighten us.