Fixed Deposit Rates In Malaysia V. No.8, Please Read Post#1 and #2
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 May 20 2015, 04:34 PM
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#1
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Senior Member
4,081 posts Joined: Aug 2005   
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is bank rakyat ok ka? y their FD acc can gib so good interest rate. not like other bank hoohaa hoohaa... haha... n also how much is their bankers cheque?issit standard price? tq... newbie looking to put good use my extra money..
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May 21 2015, 09:39 AM
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#2
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Senior Member
4,081 posts Joined: Aug 2005
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QUOTE(nexona88 @ May 20 2015, 04:46 PM) Main question. No PIDM Protection okay or not for u? mayb we shud go to d basics of fixed deposit. y fixed deposit is consider safest investment? issit bcoz of this thingy of pidm OR it is DAT safe?   if bank rakyat able to maintain high interest rate compare to d normal fixed deposit, ill take it anyday. d most interesting part of it is, d min amount is rm500 n above. i could put in FD every month from my salary n let it grow! QUOTE(nexona88 @ May 20 2015, 09:44 PM) guarantee by gomen of malaysia   |
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May 21 2015, 11:26 AM
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#3
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Senior Member
4,081 posts Joined: Aug 2005
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QUOTE(magika @ May 21 2015, 10:16 AM) In those days before PIDM, banks deposit are guaranteed by the government to the max of 60k only. Finance Inst and Kooperasi deposits are not guaranteed. In the run during the kooperasi debacle of during the 90's, govy are forced to bailed out the kooperasi using public funds due to political pressure. ic. thanks for d info!As a result of banks run during the financial crisis, BASEL published guidelines for Effective Deposit Insurance System. Since govt needs to bailout so why not make some money out of it. As it is , banks need to pay certain percentage for PIDM protection. Bank Rakyat could afford to pay out higher interest rates as their core business is personal loans plus certain higher risk loans. I could not find any official statement that its deposits are guaranteed by the govt of the day other than unofficially from BR personnel. Other than that, its a govt back kooperasi , Islamic, its shares are held by bumis, so no govt of the day will let it fail. |
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May 22 2015, 02:22 PM
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#4
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Senior Member
4,081 posts Joined: Aug 2005
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QUOTE(ragk @ May 22 2015, 02:20 PM) Any1 use Public bank to manage their deposit online? Do i still need to go the bank next day for deposit cert? yup. still need go public bank to take ur cert  |
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May 22 2015, 04:40 PM
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#5
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Senior Member
4,081 posts Joined: Aug 2005
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QUOTE(Bonescythe @ May 22 2015, 02:55 PM) For FD chaser... min how much to deposit? alliance gonna offer 4.1% for 7mth soon.. kikiki insider news  |
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May 27 2015, 09:57 AM
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#6
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Senior Member
4,081 posts Joined: Aug 2005
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imho,BR is good if ones r lookin to accumulate 5k-10k b4 able to park it to other safer FD or continue wit BR.
moreover, BR is well known among gomen servant due to good loan rates, 2nd to gomen 4% flat rate. it wont suddenly collapse / declare bankruptcy..lol |
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Jun 3 2015, 04:33 PM
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#7
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Senior Member
4,081 posts Joined: Aug 2005
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for ocbc
3) Fresh Deal: Tiered interest rates - First 6 month (180 Days) @ 4.00% p.a. & subsequent 6 month (180 Days) @ 4.40% p.a., min RM5k fresh fund those this 1 need open saving / current acc wit them? or can direct open FD? |
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Jun 3 2015, 11:49 PM
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#8
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Senior Member
4,081 posts Joined: Aug 2005
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QUOTE(lamode @ Jun 3 2015, 10:41 PM) just done it today, can direct open FD. thanks for d info, will hav fresh fund on this 10jun. gonna try out ocbc.  |
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Jun 5 2015, 03:42 PM
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#9
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Senior Member
4,081 posts Joined: Aug 2005
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wanna ask alliance bank online FD is always dat high? imho, sometimes its kinda waste money + time travelling to certain bank wanna open FD... like i jus take out FD which last time i open at kota kemuning but now working in kl town d.
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Jun 8 2015, 11:24 AM
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#10
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Senior Member
4,081 posts Joined: Aug 2005
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QUOTE(bbgoat @ Jun 8 2015, 11:07 AM) I am with you, your pain ................. wat type of gifts? high tea?? So far I did not have big issues with BR, except cannot do Rentas, no free Rentas like Big Magician.  But happy on the monthly interest, gifts, high tea etc.  |
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Jun 9 2015, 09:39 AM
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#11
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Senior Member
4,081 posts Joined: Aug 2005
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QUOTE(bbgoat @ Jun 8 2015, 02:32 PM) Gifts like CNY hampers, laptop bags, Parker pens etc etc. High tea in hotels. nice! roughly how much deposit we need to hav in order to enjoy those previllage?  Lucky you ! SCB 4.5% was really attractive at that time, even now kind of sad that it was over.  QUOTE(Gen-X @ Jun 9 2015, 01:41 AM) You are right, people who deposit with MBSB should be concerned. Recently it was reported that their last quarter profit took a dive compared to previous quarters. m not sure wether its true MBSB got huge loads of people from civil servant taking loan. but pretty sure BR is coz they do gib good rate especially for gomen staff. And it is no surprise why the above is so.... BNM have taken steps make it more stringent for people to get Personal Loans. People who has money in BR should be equally concerned. Those of you who are now aware how bad MBSB was in 2008 -2009 should go find out. They only managed to turn around because there were allowed to milk dry civil servants with Personal Loans. If we face another Recession, I'll be worried if I have money in MBSB. Talking about Economy Collapse, go google "Shemitah Years". And if we do face another Recession, Cash Is King! m not sure this time around if we hav another recession, we could still b around so calm... This post has been edited by low yat 82: Jun 9 2015, 09:40 AM |
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