wow.. which newspaper??
this will certainly raise to 4% level

Hmm.. 15 months imo too long.. max I can take is 12..
Well the effective rate is 4% which is a good sign, meaning most likely the olr is a go.
This might even set a base for all bank to give an effective rate of 4%

Chinese paper Sin Chew business section, Wed. Please don't ask me to translate for you, ha ha.

Effective rate is lower than 4%. Have to put 10% in CASA for 90 days.

This post has been edited by bbgoat: Jun 20 2014, 08:37 AM

4.5 to 5% more realistic to beat current inflation rate at 4%.

so for now, don't put new fd 1st?

BCC thanks for sharing

Correct to calculate as below?

((3.38/1.1) + 3.58 + 3.78 + 3.88 + 5.38)/5 = 3.939%

I think the boss at BNM is a smart and cautious lady. Even if the current economic situation warrants a 0.5% increase, my gut feel is, she will do it in 2 steps, first 0.25% and another 0.25% later.

Sometimes they use the newspaper to "prepare" us for bad news. So they say 0.5% now and later only 0.25%, we will feel relieved, ie., not that bad lah! Ha.

Wait and see.

Cheerio.

Wise words !

The paper did mention that BNM may not do the change in July and may phase the change slowly. Note the disclaimer word "may".

Cheers !

12 months one seem very good?

split to 4 quarters

((5/1.5) + 5 + 5 + 5)/4 = 4.583%

I have a few 12 months FD maturing in July. According to the bank, after they are automatically renewed, I can withdraw them after 3 months without any penalty. Just not sure after 3 months is the pro-rated 12-months rate or dropped to 1-month rate.

With the OPR going up, I wonder if I should convert them to 1-month FD or let them renew another 12 months?

Thanks in advance for your advise

This post has been edited by idoblu: Jun 20 2014, 10:15 AM

Which one is that ? No way it can be 4.58%.

Each person has to look at it and decide which way to go. If you can hold out for 2 or 3 months, probably you can go for lower FD rates for about 3 months. If not, the current promotion (last 2 weeks or so) looks rather tempting and do not have to worry if the OPR remains the same.

This post has been edited by bbgoat: Jun 20 2014, 10:12 AM

(2) RHB Ramadan FD Promo -- Valid until 31 August 2014
(i) 3.78% for 3 moths, put 5% into CASA*
(ii) 3.88% for 6 months, put 10% into CASA*
(iii) 4.28% for 9 moths, put 20% into CASA*
(iv) 5.00% for 12 months, put 50% into CASA*

*All have to put in CASA for 90 days.

we need clarification

Deleted

This post has been edited by bbgoat: Jun 20 2014, 10:21 AM

this 1 also step up? i thought step up mia is 15 months?

BCC we need links for T&C

What I saw in MB 2U website is, if one withdraws after 3 months, you will get 1/2 of the rate. That was what I got when I withdrew one FD earlier at BR.

Sharing what I have in mind for my coming FD which will mature next week.

I need the money over the next 3 months. Thus my plan is FD for

1 month
2 months
3 months

The FD rate for 1-3 months is about the same. So better just put all for 1 month with auto renewal. When OPR naik in July +, then my FD will get the higher rate on renewal! Bagus!

Maybe I overlooked something here? Ha.

Cheerio.

plumberlybbgoat

thanks for your insight
I will go check it and probably convert them all to 1-month

After reading through again, I deleted my post. But you have replied already.

You are right. The info is a bit ambiguous. There must be some catch somewhere. Need further clarification.

Depending on the bank, I put 3 months FD in BR as 3 months rate is higher than 1 month. But some bank there is no difference for 1 to 3 months. Then 1 month renewable is good. You also have the flexibility to withdraw it after 2 months if the OPR change soon.

If Bank Negara revises the rate upward, the banks will revise:

(A) The FD board rate upward, followed by FD promotion

OR

(B) The FD board rate remains the same, but better FD promotion

?