Bro, firstly, I wanna thank you for letting me know you appreciate my "hard work" at my blog 

Secondly, life has its up and down moments but for now I tend to agree it's wonderful. Most of you guys here are placing new FDs periodically. I, on the other hand, is withdrawing my FDs periodically and getting poorer by the day And if you had read my previous article, My Pride and Joy Who Also Makes Me Poorer By The Day, I have said that I will now be cashless sooner that I have expected.

And since you took the trouble to thank me and letting me know you appreciate my work, I have decided to include in my up coming article on how you may just find yourself richer (up to several thousands Ringgit) by placing a 3 month FD with a certain bank.

Just wondering what sifus here make of the recent hike in FD rates especially for the longer term deposits.  I always concede that the banks know more than me; that they are smarter, when I try to make my decisions haha...

1. 12 month FD rates seem to be hovering around the 4% mark now, this suggests that banks are expecting the OPR to be raised upwards in this time period.  Next OPR meeting is 6 Nov 2014, there's been some rumours that it may be raised this round to "manage" growth better and avoid overheating of the economy; after all, we are still growing by around 5.5-6% annually, the highest of SEA nations

2. the world's major economies are preparing to raise their interest rates to curb excessive risk taking

3. in spite of (1) above, BNM governor maintains that we still need a loose monetary policy with low interest rates.  I'm just wondering how much we are able to go it alone, especially when the world's major economies adjust their interest rates to manage their own economies better; after all, we are only a small fish in a very big pond

My thinking is that there will be a hike in OPR at the next meeting in less than a month's time, which would then result in another hike in FD rates (?).  What do the sifus think?  While I am very tempted by the 4% 12 month rates, the prospect of even higher rates before the end of the year is even more tempting!

Just wondering what sifus here make of the recent hike in FD rates especially for the longer term deposits.  I always concede that the banks know more than me; that they are smarter, when I try to make my decisions haha...

My thinking is that there will be a hike in OPR at the next meeting in less than a month's time, which would then result in another hike in FD rates (?).  What do the sifus think?  While I am very tempted by the 4% 12 month rates, the prospect of even higher rates before the end of the year is even more tempting!

A bird in the hand is worth 2 in the bush, or something like that.
As in stock investment, we are not supposed to time the market. A lot of stock market players has been sitting on the sidelines for a few years already waiting for the market to crash. It equates to lost opportunity.

Just return from SCB, bad luck..one banker's cheque goes through, the other one didn't manage as the counter closes at 3.45pm. So have to collect the slip tomorrow...will backdate to today's date.

I am flabbergasted. The manager insists that I cannot open a Just One acc with zero deposit. She even asked what my purpose of opening Just One account if I am not going to deposit RM1500  I really need to get written confirmation from SCB HQ that it is possible. Or maybe can any of you who managed to do so, share me the name of your branch?

On whether is it necessary for both joint account holders to be present for future placement, the answer is YES  Else, you can pay RM10 to sign the mandate form 

On why it is necessary to photocopy IC again and again, bank policy. One slip needs two copies.

I tell you, i signed more than 10 times just now

Eh why have to queue? Tell them send to you .

By post later get lost in post.

I'll tell them I come collect another day.

I can also identify Public Bank . What I want to known is does the table shows effective rate. If the interest rates shown did not take into consideration of CASA requirement, then it's misleading.
I don't buy structured investment products from banks, so I will never have the opportunity to driven around in a UOB PB BMW, haha.
AS for the table, No.5 Public Bank.

If No.2 is HLB,  then it is really irresponsible of them to publish the table as it mislead their readers by showing 4% for 15 months which is not the case once CASA requirement is taken into consideration.

No.3 Allianz the insurance company? Not Alliance Bank that's for sure.

Bro you are right, it's 3.68% and not 3.65%. Therefore I must be wrong, i.e. No.5 can't be Public Bank.

Ah Flo ah..,Ah Goat can pick u in his BMW 7 series anytime u called..

Really now left right, top bottom all rushing for our money, could not be happier ...

Previously , RM fill everything and submit to counter, counter ready ask to verify at counter, thats all. My 2nd RM could not be bothered at all. But go to counter faster also.

Captain, dont like too many bank account everywhere, if all account fill to the brim with money, then ok loh.
Premier Banking status no use to me, no money to fly, only got 21 year Potong as transport.

me too.. can get some insider FD promo someore like the mbb "3 banks only" FD 

two under the counter MBB's FD offers:
3.95% for 3m FD min 50K. Must be cheque  from the 3 'banks' in one lump sum, cannot combine with cash or other banks's cheque.

4% 12m islamic FD with interest paid upfront, giving effective rates of 4.16%.

bbgoat - your MBB contact useless lah, never inform what MGM reported

For the islamic FD promo, the fund must come from the 3 banks too?

I dunno why we are getting different info, well I got mine direct from a MBB branch today.
CS refuse to give me a hardcopy. so I only manage to take a pic.

[attachmentid=4169742]

Bro, MGM did specifically mentioned "under counter". Yours must be over counter, hahaha.
Bro, I don't think so. Previously they were offering 3.85%. So, now 4% is not a surprise. Looks like it's time for me to finally go get Maybank Premier Wealth Banking Status so can jump queue at Maybank.

Tomorrow I will go to Maybank (and look under the counter  ) and see if I can get hold of any piece of paper and take a photo of it.

My funds with HLB Junior FD (4.5% deposited 4 years ago) will be due very soon, was considering either UOB or Allaince but the Maybank Islamic deal is even better. However, the Branch Manager of HLB asked me to see him before I go deposit else where as he knows the Junior FD 3.95% (24 months) is not competitive. Let's see if he can offer me 4% for 1 year FD.

To ALL:
Talking about renewing FD, I tell you Citibank Australia CitiGold is really good. My RM will call me on the day my FD matures (on my Australia number and if I am in Malaysia, I will ask them to call my Malaysia number) and they will ask what I want to do with my funds. And I can even negotiate with them on the interest rates for any Term Deposit tenure and it will be more than 1% higher than what is stated in their website.

Bro, if you really need your funds to be liquid, split your FD. However in general, 12 months FD earns you more interest rates versus 3 months.

For example, say you have RM200K.

RM50K - 3 months. Upon maturity change it to 12 months.

RM50K - 6 Months. Upon maturity change it to 12 months.

RM50K - 9 Months. Upon maturity change it to 12 months.

RM50K - 12 Months.

After a year, you have funds maturing every 3 months. The sum needs to be substantial or else wasting time going to the bank.

two under the counter MBB's FD offers:
3.95% for 3m FD min 50K. Must be cheque  from the 3 'banks' in one lump sum, cannot combine with cash or other banks's cheque.

4% 12m islamic FD with interest paid upfront, giving effective rates of 4.16%.

kinabalu - I have yet to go to Maybank but I called them and was told some of the FD promos are ending today. Will update all once I go to MBB, maybe later after 3pm.

bbgoat - good to know that the 4% also restarted last week and yes need funds from the "other targeted" banks being attack. If this is the case, I have to go deposit in my RHB current account and loose at least 3-4 days interest (weekend) Side note - Bro, I used to be chauffeured around in luxury car(s) but had to return the car after I fired my boss. Now only drive "aunty type" Jap car

Bro, no need be millionaire (technically it means net worth of USD1M minimum), as long got RM300K, can recycle over and over again to get PB status, like in my case, hahaha.

Banks to avoid getting PB status if one only has RM300K to recycle (playing FD Promotion musical chair) are HSBC and SCB because they will impose penalty fees once your AUM falls below the required minimum amount.

Banks like HLB, OCBC, RHB, UOB and Alliance bank no need to maintain minimum AUM but yet your PB status remain, i.e. no penalty fees. For example, I have less than RM30K deposited with RHB and Alliance banks but because I have PB status, my credit cards (RHB Plat, HLB Plat, UOB Plat and Alliance Visa Infinite) are FREE FOR LIFE and I get to jump Q at any RHB branch by flashing my PB Debit card. Click here to read my article Privilege Premier Priority Banking published many years ago at my Ringgit Wise Fool blog. Also click here to my article My Bragging Rights and My Credit Cards 2014 where I mentioned briefly how each of my credit cards benefit me.

As for SCB, you do get their Visa Infinite credit card for FREE but it is really useless as their redemption program is ridiculous. However the SCB Visa Infinite does come with a Priority Pass Membership card but now only limits to 2 FREE entries per year to airport lounges worldwide. If you ask me, don't need SCB PB if only want to enjoy their promo rate because hassle when want to close PB status if AUM falls below the required amount.

Just placed FD for 12 months with 4% upfront interest and also 3 months 3.87% interest. My branch fd officer called hq to ask about 3.95% but they seems to have no idea. I'm lazy to go back to the branch again so just settle everything today.

I just came back from a MBB branch instead of Premier Wealth Centre or Premier Wealth Lounge (I got no idea what is the diff between PWC and PWL), and too bad did not manage to catch your earlier reply to my post.

Asked the MBB staff at reception counter and was shown the FD promos reported here. When I asked her about 4% Islamic Upfront, she had no idea and referred me to an Officer. When I saw the Officer, I immediately asked about 4% Islamic Term Deposit. She asked me how I knew about it, I said from friend. She then asked me I'm depositing cash (I was dressed like a VCD seller - wearing T-Shirt, slippers and having a sling bag, hahahaha) or funds from which bank? I said any bank also can (as if), then she said how about CIMB, aiyah, that bank I have no account  , hahaha. So, I said I have RHB, she then only disclose that there is indeed a 4% upfront Islamic Term Deposit for funds from RHB, CIMB and MBSB.

Anyway, I asked the Officer how the 4% works. She said the dividend will be credited into CASA immediately. I then asked what if my cheque have yet to be cleared (I was under the impression that I can use my Personal RHB Cheque but did not confirm if this was possible), she said she will hold the cert for 2 days (which means she is aware I 'm using Personal Cheque because if I were to give her RHB Banker's Cheque, sure okay ma).

Now, Bro, like I said, I should have read your post earlier about the RHB thingy. Now have to go reconfirm if my personal RHB cheque can or not. I guess maybe I will go to MBB Premier Wealth Lounge Centre (PWL) tomorrow and check it out because the branch I went to said no penalty fees if AUM falls below required amount. And based on what you said, I will also take my RHB PB Cheque Book to show proof I have RHB account and see using HLB Banker's Cheque can or not. Well, the plus side is now I have something to do for tomorrow 

As for CIMB PB, never bothered to look into it as no attractive FD Promo from them. But if RHB and CIMB merge, I wonder if I will then be required to maintain minimum AUM.
Oh, HLB must maintain RM50K, was not aware of that. Only reason why I applied for HLB PB was to get their PB ATM Card so that I can sign up for an online account to activate my children's Debit Card for Online Transaction and same time flash it at any HLB branch to jump Q. 

Once again, thank youbbgoat for wanting to catch me and share with me the valuable info

And on behalf of all here who are going to enjoy 4% upfront from MBB, A BIG thank you to MGM.

Captain, u are welcome. I actually brought a RHB bankdraft to MBB for the 4% FD deal but was told it will still two days to clear eventhough I told them it is as good as cash.

Not interested in waiting as per day will lose my pocket money, eat grass loh, think I am Ah Goat meh..
Hope you and AH Goat update me on latest promo next month, but most probably let it remain where it is.