I went to OCBC last week, RM did not offer the 4.2% 12 months. Only available is 3 Months Islamic forgot how many %, 6 months 4%, and 13 Months...something %

Must be tied with Unit Trust or something ....

4.1% for 1 year as of yesterday, unless new info, will check with my PFC

4.2% is for over 40 years old

The Alliance Bank 4.2 is for FD Gold according to my RM.

Not sure what promotions they have for April.

Any news from OCBC?

Maturing FD next Wednesday at OCBC, might have to transfer in and out for fresh funds.

Nothing from Alliance Bank yet.

This post has been edited by Nauts: Apr 1 2015, 05:34 PM

I remember CIMB Preferred also impose a fee if you drop below at that time 250k? Horrible service by CIMB, left them after a while. never been back.

As for OCBC i understand if your Current Acc drops below a certain average will be imposed fee also. Going to OCBC this morning will enquire

You mean for the current account? Not sure, i don't remember.

I will ask when i go there at 930am

OCBC RM said Current Account avg dont less than RM 1000.00 if not charge RM 10 half yearly.

UOB 4.2% 12 months FD still on

Yeap, no CASA

I think my RM Alliance Bank told me that you have to open nearest branch based on IC, unless you have proof you are staying elsewhere and ic not updated.

Cash only or Cheque also?

Deposited more than that into UOB FD, wasn't questioned about the source.

Was only questioned once at OCBC when i RENTAS from another bank, had to fill up form, just told them it was from another Bank.

This post has been edited by Nauts: Apr 22 2015, 05:26 AM

HaHa, opening account was pretty strict since i didnt have introducer at that time. Took a long time also.

About this transfer of funds, if above RM100k or 150k, i forgot, then you need to fill in the form which was delivered to my house within a few days after the transaction. Had to go back to the branch and get RM to fill in.

So i stopped using RENTAS from that day on, using cheque no questions asked. Weird.

OCBC even photocopied my credit card from another bank, forgot why they did that.

No leng lui to see at that time, a guy handled my account, cause most of them inside PB, i opened account before joining PB.

Haha i do go to ocbc pb once a while. Im cheras branch, the gals really thin lo.

Btw ocbc 4.2% until when?

Bank Negara governor signals no need for rate cut in near future

KUALA LUMPUR, April 24 — Malaysian central bank Governor Zeti Akhtar Aziz signalled she sees no need for an interest-rate cut in the near future, barring the threat of a “fundamental” downturn in the economy.

“We are on a steady growth path,” Zeti said in an interview in Kuala Lumpur Thursday, when asked if she was suggesting Malaysia wouldn’t change rates in the near term. “If there was a fundamental economic slowdown, the risk to that going forward, on the horizon, then it would prompt a downward adjustment.”

With above-5 per cent growth and inflation near the slowest since 2009, Bank Negara Malaysia has held borrowing costs steady for four straight meetings even as dozens of central banks eased monetary policy this year. While the economy unexpectedly quickened in the final quarter of 2014 on private consumption and investment, the government has trimmed its forecast for this year as it cuts spending amid less revenue from oil.

The ringgit was Asia’s worst performer last quarter as the drop in crude hurt government finances and dented investor confidence. It has since swung to become the region’s best amid a rebound in oil. The currency rose 1.3 per cent as of 3.45pm in Kuala Lumpur Friday, according to data compiled by Bloomberg.

There is a lack of recognition that Malaysia has a “highly-diverse economic structure,” and isn’t just an oil producer, Zeti said. About 80 per cent of the Malaysian economy isn’t linked to oil and gas, she said.

Consumer-price gains may be at the lower end of a 2 per cent to 3 per cent range in 2015, and inflation isn’t a concern at this point in time, Zeti said.

On hold

Bank Negara kept the overnight policy rate at 3.25 per cent in March. The next decision will be on May 7. The central bank will hold its key rate for the rest of the year, according to 16 of 20 economists surveyed by Bloomberg in February.

“The ringgit has not been taken into consideration in our interest-rate policy,” Zeti said, when asked if the currency’s weakness keeps the central bank from joining counterparts in easing. “We look at the risks to inflation and the risks to growth. And we also look at the risks of destabilising financial imbalances.”

The Malaysian government, which forecasts growth to be between 4.5 per cent and 5.5 per cent this year, implemented a new consumption tax of 6 per cent in April. While the experience in other countries showed a moderation in consumer spending in the first year of such a tax, the decline in oil prices may be a buffer to an expected easing in consumption, Zeti said.

It’s too soon to tell if spending slowed in Malaysia after the goods and service tax started, Malayan Banking Bhd Chief Financial Officer Rafique Merican Wahiduddin said yesterday.

Attractive asset

Asked about what China needs to do to make the yuan as attractive a reserves asset as the dollar for central banks, Zeti said it is already an attractive one.

Malaysia began diversifying its reserves in 2003, when it adjusted its composition into currencies such as the euro and those of emerging markets, which include China, she said. Zeti said she couldn’t disclose the central bank’s future strategy or composition of reserves, when asked if there is a plan to hold more yuan.

“We already have a highly-diversified portfolio structure and we are happy with the composition that we have now,” she said. “It’s highly-diversified in the major advanced economies and also emerging economies. Emerging economies in Asia, and even in Latin America.”

Zeti is one of the region’s longest-serving governors who helped oversee Malaysia’s monetary and currency responses to the Asian financial crisis more than a decade ago. She took the helm at Bank Negara in May 2000 and her current five-year term will end next year.

“At this point in time, I don’t look beyond that,” she said when asked if she plans to stay on. “We have succession five levels down. And we have done organisational transformation three times during my term in office. So I would leave it as a solid institution to continue.” — Bloomberg

http://www.themalaymailonline.com/money/ar...-in-near-future

uob cheras didnt ask my source of money.

Campaign Mechanics
5.
To qualify for this Campaign, Eligible Customers must place new funds of a minimum of RM10,000 in eATD
-
i.
(New funds refer to funds that are not derived from any existing account(s) with ABMB or its subsidiaries).
Note
For e-Alliance Term Deposit-i (eATD-i) placement, “new funds” will be measured based on incremental growth
of Total Deposit compared against Previous Monthly Average Balance (MAB). New funds are calculated as follows:

New Funds = Today’s Total Deposits – Previous MAB - This Month’s Total eFD/eATD i Promo Placement

http://www.alliancebank.com.my/ABMB/media/...i_12_months.pdf


You RENTAS full amount or only partial for FD?

You better go HQ to complaint

MEPS Establishes Ceiling Of 50 Sen For Real-time IBFT Service Fee
KUALA LUMPUR, May 20 (Bernama) -- Malaysian Electronic Payment System Sdn Bhd (MEPS), an interbank network provider, today set the ceiling for its real-time Interbank Funds Transfer (IBFT) service fee at 50 sen.

It is a reduction of 50 per cent to 88 per cent from the current fee range of between RM1 to RM4.

The new ceiling fee, applicable for transactions at ATMs, Internet and Mobile Banking channels, will be implemented by all MEPS participating banks effective June 1, 2015.

In addition to the fee reduction, the transfer limit will also be increased from the current RM5,000 to RM10,000 by June 30, 2015 and further raised to RM30,000 by early next year.

"This is certainly good news and a boon not only for the public but businesses as well," said Group Managing Director, Zulkanain Kassim in a statement today.

"Retail, commercial and corporate customers, including SMEs will greatly benefit from the fee reduction and increased limit," he added.

MEPS' latest initiative is an incentive for the public to use its funds transfer service which is real-time, convenient and safe.

This service, also made available via ATMs, will cater to those members of the public who have yet to adopt online banking services.

Meanwhile, Bank Negara Malaysia (BNM) Deputy Governor, Datuk Muhammad Ibrahim said the payment industry is embarking on making a significant leap forward, with the implementation of the IBFT fee reduction and standardisation of a ceiling fee by MEPS.

"BNM welcomes proactive initiatives by financial institutions and organisations like MEPS to accelerate the migration to electronic payments," he added.

By 2020, Muhammad said BNM aims to increase the number of e-payment transactions per capita from 72 to 200, and reduce cheques from 177 million to 100 million annually.

The IBFT is an e-payment service which allows customers to instantly and securely undertake interbank fund transfers.

Customers are assured of a safe transfer with the recipient's details displayed for the sender's confirmation.

Upon confirmation, the recipient's account is credited instantly and funds are also made available immediately.

IBFT also includes credit card payment and loan or financing repayment for customer convenience.

With such ease, customers no longer have the fear of wrongful crediting or missing the payment deadline.

On top of that, there is no need to issue cheques or use a cash deposit machine for making such transfers or payments.

The IBFT showcases strong support for Bank Negara Malaysia's aspiration to increase the usage of e-payment in the country, promoting wider acceptance and adoption of these handy services.

-- BERNAMA

http://www.bernama.com/bernama/v8/bu/newsb....php?id=1136143