In BR today. They just raised their 12 mth rate to 4.1%. The staff showed me a slip with the new rate. 24 mth 4.2%, 5 years 4.5%.

The staff again pestered me not to withdraw the FD. Still IBG it out. But the IBG cost only 30 cent this time. Last time was RM2, I think.

One more thing, she said no more nego rate !

This post has been edited by bbgoat: Oct 9 2014, 05:21 PM

no changes on the short end? like dat, more difficult to justify putting into BR

BR yet to update their new rates as of now
http://www.bankrakyat.com.my/term-deposit-account-i

maybank interest up front + PIDM = KO BR

18 months SCB also better than BR 24 months, BR no more supporter soon

This post has been edited by bearbear: Oct 9 2014, 07:07 PM

if like that, no use deposit FD in BR.. other with PIDM also can give better rate

As usual, banks are slow in updating their website.

Not bad, i think the new rates suits me, as have FD maturing on Nov n Dec. Thanks old goat.

MBB 4% upfront interest over already.

SCB wise, the best rate so far. I heard (not confirmed yet) going to end soon. Likely they have hit 500M target.

This post has been edited by bbgoat: Oct 9 2014, 09:31 PM

Ah Boom, remember the issue with BR paying interest on 1st of the month for some FD certs ? Those affected one they are supposed to pay the add'l days when they matured. I calculated the one that was matured today and they did deposit the add'l days interest.

This post has been edited by bbgoat: Oct 9 2014, 09:34 PM

will the FD rates be "controlled" or become less attractive after this?

3 Malaysia banks announce merger
Published: 9 Oct 2014 at 20.40 .Online news: Finance. Writer: AP and Bloomberg

CIMB Group Holdings Bhd, RHB Capital Bhd and Malaysia Building Society Bhd said Thursday they have submitted the proposed merger to the country's central bank.

http://www.bangkokpost.com/business/financ...announce-merger

Maybank already started their "war" towards CIMB & RHB

Fake young man.. .. You are slapping to yourself this time... Ha Ha..

Oh..This is a good news..
Are you talking about old type Mubeen?
My Mubeen FD is 5 years FD, not mature yet...

SCB 4% Bonus Saving plan was making me crazy for past few days.. Now I know how does it work since
after visiting another SCB branch couples of time, and also calling SCB hotline many times....

Step by step like this:

(1) Join SCB priority banking

(2) Deposit minimum RM 10K fresh fund to JustOne current account during any day in the month for 6 months.

(3) Use online banking to transfer RM 10K from JustOne current account to JustOne saving account on the same
day to earn 4% interest in saving account, because current account has no interest.

(4) As long as deposit RM 10k fresh to current account every month, all money deposited to saving account during
6 months promotion period will get 4% interest.

I think this plan is good for consolidating small funds while still can earn 4% interest (actually maybe slightly lower than 4%)

---------------------------------------------------------------------------------
I went to May Bank to withdraw money this afternoon, below was the conversation:

Me: Encik, May Bank ada FD ke..?

Staff: Ada, kita ada 3.7% untuk 3 bulan sekarang

Me: Bukan 3.87%..?

Staff: Oh.. yang itu mesti bawa check dari lain bank..

Me: Ya.. saya tahu, saya ada dengar khabar angin..

Staff: Ya ke.. angin besar ke..? (Staff looked panic.. .. Ha ha..quite funny..)

Me: Saya ada dengar ramai orang cakap mesti bawa check dari, CIMB, RHB dan MBSB, betul ke..?

Suddenly one famale staff came to join our conversation...

Female staff: check dari lain bank pun boleh

Me: Check dari Hong Leong boleh ke?

Female: Boleh juga. tapi mesti cepat lah, kalau kita hit target, promosi ini akan tamat awal

Me: Ok.. Minimum deposit nak berapa?

Female: RM 50K

This post has been edited by BoomChaCha: Oct 10 2014, 12:25 AM

haha Mbb staff already worried about the 3.87% FD thingy when u mention chq from CIMB, RHB & MBSB.. then the female staff came to the rescue the situation from getting worse

I guess MBB original plan is:
(1) Check from RHB, CIMB & MBSB: 3.87%
(2) Check not from these 3 banks: 3.7%

Ha ha.. I think MBB realized they are making mistake to irritate these 3 banks..
But MBB hair is already wet..

MBB is really crazy. I wonder whether they break any rules with that promo.

Uncle Magic !

Can't remember the name, need to check the cert. But it is the one that they pay out on the 1st of the month. At least they are honest in paying out the add'l interest on the maturity date.

I personally dislike complicated T & C for this type of schemes. Wow, you added one more PB member bank to your "catch".

Interesting dialog !

I asked yesterday about the minimum, the answer I got is RM 25k. So, diff MBB branch seems to be quoting different minimum sum for the promo. But they did say it will stop when target met.

Last week the 4% upfront FD stopped the day I went in. Initially said several days after the day I went in. Then in the afternoon, one MBB lady called me (she met me whiling placing the FD) said ended that day.


This post has been edited by bbgoat: Oct 10 2014, 07:30 AM

They told me the 3 mth 3.7% is for current fund. But it could be just a cover up story. They said they cannot advertise the promo, obviously !

The MBB BM invited me to the office. Said they are targeting within 1 year to catch up to be the biggest bank in Malaysia again.

This post has been edited by bbgoat: Oct 10 2014, 07:36 AM

Old goat is a seasoned musical chair veteran, no bluffing it.


Got invited into BM office, not many here has that previledge, BCC excluded of course.


This post has been edited by magika: Oct 10 2014, 08:18 AM

that means gotta bank in 10K every mth for 6 mths = 60K

but can trsfr immediately to the 4% JO saving acct? wat happen in the 6th mth? can take out all from JO saving acct if no more 4% ?

my guess is that rates will be less attractive to consumer - whether depositor or borrower. happens everytime you have less competition in any industry. now heading towards oligopoly. heaven forbid if monopoly (highly unlikely though)