Currently the Births & Deaths Department does not link to the banks, so once
they do this in the future, all deceased individual bank accounts (including joint accounts)
will be frozen immediately.

So the best and proper way is to prepare a will. But this except KWSP, KWSP
does not honor or recognize will. KWSP only recognizes when we put down the list of
beneficiary in our EPF accounts/records.

If no will is prepared, then go to Amanah Raya (cost about from 1% to 4% fee of the total
value of assets), or Pusaka Land Office which will charge less than Amanah Raya.

In conclusion, it is better to put our FDs in joint accounts with either one to sign.

Good info and legally speaking that should be the way.

Ah Boom, unofficial underground way. A lot of people doing it. If no legal complication especially without beneficiary issue, then OK (until caught ).

This post has been edited by bbgoat: Nov 16 2014, 07:55 AM

hmmmm glad to know someone else also think this is not quite the right thing to do (on the bank's part lah) - either you pay everybody or you don't. This means that if ask/fight/beg, then only they give you - those who ignorant/dun ask, they dun give we should complain to bnm to make it standard for all banks ; if BR & UOB computer system can do it, everybody else should be able to

This post has been edited by okuribito: Nov 16 2014, 08:35 AM

Mampus lah. Don't know whether can withdraw those funds under "Self Contribution" anytime or it will be stuck there until 60yo.

OCBC told me that there is a sucession policy for FD. I think we discussed it way way back. See V5 page 62
Sucession or survivorship policy is enforced only on Joint Account with either to sign clause. See https://www.google.com.my/url?sa=t&source=w...igmXQ366_QzT_ZQ

However one needs to check each bank for its policy as maybe not all banks has the same policy.

Summon Deputy TS boomchacha Can be coordinator of List Of Banks With Survivorship Clause..

1. OCBC
2. RHB
3. Alliance
4. Ambank
5. Cimb
6. Hlb
7. Affin
8. MBB

Ha..ha
Self Contribution should be contributed by those nearing 50 years old , so if any change in withdrawal policy, there is still time to withdraw using age 50 withdrawal of at least 1/3 total funds. This is because usually there will be a grace period before new policy is enforced.

MBSB having 6 months 4.15% pa promo..


This post has been edited by magika: Nov 16 2014, 11:32 AM

with CASA requirement 80:20 ratio..........

oops

hahaha drop specs (cantonese)

but fortunately not bad lah cos their savings rate 3.3% up to 50k but >50k 2.5% only ?? Ends up just short of 4% for 6m. Actually old promo 7/10 - 31/12 which i didn't know about

Update 17/11 - I stand corrected Called them & they say the savings acct is not the Cheeky acct (it's a trustee acct for children <17y.o.) but another one with only 2.25%pa. Means only 3.77% for the 6 mths



This post has been edited by okuribito: Nov 17 2014, 09:13 AM

These days FD promotion rates are getting higher. Maybe financial institutions are expecting BNM to raise the OPR in the not-too-distant future. Looking forward to seeing more >4%p.a. without CASA requirement.

December is approaching…are you still going ahead with your plan to lock your $$$ in MBSB?


Aiya, about BR’s internet banking…really

I know that the online account is very convenient to check account balance, check monthly interest credited & to transfer fund.

I’ve tried to apply for a joint account Coop card to register for BR’s internet account…but some staff repeatedly said can’t be done.

hi there, anybody has problem login to i rakyat today and yesterday?

i dont seem to be able to login at all.

Yes..I know..

Now our society has changed... Banks hire many fresh graduates that do not know how to communicate with
customers effectively.
Bank staffs during 1950 & 1960 were more professional and polite..


Yes, Ah Sir Young Magic (Instead of Uncle Magic for temporary). Will post it on Post #2.
Version 8 is your turn to take care of Post #2

MBSB FD promo are usually "Lao Kiap"..

Yes, I can log-in irakyat..You can try now and see..

yes funny after i ask for help here only it can access, thanks for making irakyat work again.

Ya loh.. I think it is better to place not more 1 year tenure now unless if the FD promotion is very fantastic..
I am still hoping there is another OPR increase soon..
Economists said next OPR hike should be in between June to December of 2015..


I do not know yet lah.. Warrior..
We still have 2 weeks to observe the FD market.
I have headache every time when FD maturity date is approaching

Yes, BR irakyat is very convenience to use.
Last time BR credited FD monthly interest right after 12.00am; but now they credited monthly interest at around
7.00am.

Warrior, you can get joint account for Coop card.
My Coop card is joint account, it cost me RM 8 for one time fee.
I think if your FD is joint account then you should be able to get your Coop card in joint account.

Ah Sir Ah Goat's BR Coop card is also joint account, Ah Sir Goat..can you confirm?

Why?
Just put into the highest interest. Case settle right?

Like !



Ah Boom Sir, my Coop card is single name. Though have joint acct but did not get Coop card for that acct.

This post has been edited by bbgoat: Nov 17 2014, 09:22 AM

Actually the OPR going forward is not that "hawkish" after a stable inflation rate reported, as well as GDP has showed sign of slowing down to 5.6% from 6%.
Also household debt raising has showed sign of slowing down significantly after many measures adopted.

It is far from conclusion that OPR is going to be raised, as I believe BNM now is very much data depended on the next decision.

One of reason that many promotion going on is because of deposit growth is much slower than loan growth.

http://www.thestar.com.my/Business/Busines...unds/?style=biz

some funds avail and I went for affin 2 years @ 4.38%

no auto renewal instruction for this promo, upon maturity all fund automatically transfer to your casa.

good, any min. amount and CASA requirements?

min. 10k, refer front page.

you do need a CASA for them to transfer to your acc upon maturity. I had earlier already open one with RM20 for their 15m promo so hassle free for me.