Fixed Deposit Rates In Malaysia V. No.9

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Fixed Deposit Rates In Malaysia V. No.9, Please Read Post#1 and #3

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BoomChaCha	Jun 19 2015, 11:02 PM Return to original view \| Post #21
Look at all my stars!! Senior Member 2,490 posts Joined: Sep 2011	QUOTE(okuribito @ Jun 16 2015, 10:27 AM) hahaha so silly! but seriously, did BR revise your 5 yr FD rate downwards? How did you find out? Did they send u notification? I better go chk mine No, I do not think BR has revised back my original rate.. I called to BR branch many times about this issue, the BR officer said they need some time to calculate. I found out because BR sent me letter, from the the letter I was informed the interest rate was lowered by 0.10%.. I asked BR why this happened like this..? BR officer said because of the negotiation rate... I almost wanted to ask her:"Is this my problem..? This is the rate you agreed ma.." If yours is Berjangka, it should be no problem. The problem is only for Mubeen FD. This post has been edited by BoomChaCha: Jun 20 2015, 12:01 AM
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BoomChaCha	Jun 20 2015, 01:58 AM Return to original view \| Post #22
Look at all my stars!! Senior Member 2,490 posts Joined: Sep 2011	QUOTE(Gen-X @ Jun 20 2015, 12:40 AM) Bro, in the previous FD threads (couple years ago), it has been discussed/pointed out that ALL Islamic Product Dividends including BR "Term Deposit" are not guaranteed since it is based on "Profit Sharing" and one member even said that a BR officer informed her (I think she was girl) that the dividend rate can go down. Unless a product is termed as Fixed Deposit, nothing is guaranteed Then again not really correct - only up to RM250K of our money is "guaranteed"/insured by PIDM with a particular bank. That's why Public Bank current Step Up promos are called Term Deposit and not Fixed Deposit since they are based on Islamic Banking Principles and as such they can lower or increase the "interest rate" based on OPR. Once again, for Islamic Products, there is no such thing as Fixed Interest Rate and that's BR's official reason why carpet man got 0% loan. Your money already used to give to carpet man at 0% interest, sure lah BR not making profit and that's why you getting less dividend, hahahahaha. Captain, on BR's FD cert, as it is stated clearly like this: Adalah dengan ini disahkan bahawa Bank Rakyat memberi akuan dan jaminan akan membayar berjumlah RM ___________________ pada tarikh matang yang tersebut diatas kepada : Encik Boom So, Islamic and carpet man are not the issue in this case.. BR has to honor what is printed on the FD cert..
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BoomChaCha	Jun 23 2015, 11:52 PM Return to original view \| Post #23
Look at all my stars!! Senior Member 2,490 posts Joined: Sep 2011	QUOTE(bbgoat @ Jun 20 2015, 09:09 AM) Uncle Boom, getting the 5 yrs rate from BR not that simple, eh ? Luckily the longest I have with them is 2 years and now going to <1 year. So far my experience is still positive with them. But admire our High Magician with FREE RENTAS from BR !! Ah Sir.. Like what our Big Magician said....no risk no gain ma.... QUOTE(magika @ Jun 20 2015, 09:20 AM) No scared meh ! Its interest rate is fixed. However dealing with banks with govt employees is a bit difficult to handle. There is a lot of tidak apa to handle. Uncle Boom blood pressure will shoot up higher then the interest rate. Old ginger like me will not scare...... .... but still scare a little bit lah... » Click to show Spoiler - click again to hide... « QUOTE(Gen-X @ Jun 20 2015, 09:31 AM) Bro, I am very well aware of the above as you have mentioned or shown us the above in previous thread. Like I said, one member did say that a BR officer told her the rate is not guaranteed. Islamic Banking Products dividend are based on Syariah Principles and as such there is no such thing as guaranteed % interest rate, applies not only to BR but other commercial banks too. Go ask your OCBC RM on Islamic Term deposit and she/her will answer that "OCBC have been paying dividend as quoted for years" BUT she/he will never give you a letter from the bank that guarantees you will get the dividend (x% interest rate) stated in the Term Deposit receipt. And, it has been proven in your case that above is true. On the contrary, carpet man and gold fiasco and stricter PL approvals should have effect on BR. Anyway, BR only reduced your dividend rate marginally, still high overall However, don't you find it odd that BR can still offer relatively higher Promo dividend rate to attract new depositors and even invite bbgoat for FREE makan BUT at the same time "cheat" (you have paper stating you are guaranteed the dividend quoted) you (a long term depositor) by giving you lower dividend rate. If you ask me, they short of cash. So Captain.. Ah Goat eats my money..... I think BR will rectify lah...just do not know when BR is going to do it..?? QUOTE(bbgoat @ Jun 20 2015, 09:35 AM) Wow, Uncle Boom your money has been used for my food/gifts. Come I will belanja you ! You eat my money.... QUOTE(magika @ Jun 20 2015, 12:56 PM) Not scared meh ! FD deposits are very safe. Does not matter which bank. BR hamper i used to throw away every year as dont think its healthy for consumption. My total withdrawal from BR is just to get a breath of fresh air and look at lenglui from other banks. Ai...Scare a bit lah..... I agree, foods inside BR hamper are mostly cheap junk foods, no good to our body.. I was thinking not to collect hamper from BR anymore, because I think it is just wasting my petrol, time and energy to go to collect those junk foods that I do not eat; but if I do like this， BR will think I am arrogant wor.. This post has been edited by BoomChaCha: Jun 23 2015, 11:53 PM
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BoomChaCha	Jun 24 2015, 12:03 AM Return to original view \| Post #24
Look at all my stars!! Senior Member 2,490 posts Joined: Sep 2011	QUOTE(bbgoat @ Jun 24 2015, 12:01 AM) Ah Goat eats grass, not money. He he.. not only eat grass.. but also eat CD leh..... This post has been edited by BoomChaCha: Jun 24 2015, 12:04 AM
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BoomChaCha	Jun 24 2015, 12:13 AM Return to original view \| Post #25
Look at all my stars!! Senior Member 2,490 posts Joined: Sep 2011	QUOTE(Castor Troy @ Jun 22 2015, 03:01 PM) Today went to HSBC to open Advanced account for the 5%p.a. 3 months offer. Took me like 3hrs to complete the whole task (more of HSBC took 3hrs to service me)... pengsan I forgot to mention, if to place FD in HSBC and Standard & Charteded Bank, better to go there in the morning as early as possible. Did you get a free regular size umbrella from HSBC? It will cost more than RM 10 to buy an umbrella like HSBC umbrella...
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BoomChaCha	Jun 24 2015, 12:19 AM Return to original view \| Post #26
Look at all my stars!! Senior Member 2,490 posts Joined: Sep 2011	QUOTE(MichelleLin @ Jun 23 2015, 11:27 AM) Hi I am from OCBC and we're running this promo. The effective rate is 3.925% p.a. for this promo. If you have any queries you can email limyc3@ocbc.com and we can assist you from there. To register for the power bank you may also register at https://ringgitplus.com/en/fixed-deposit/OC...aving-Deal.html. To make your placement at a nearest branch, you may refer to http://www.ocbc.com.my/assets/pdf/branch-listing.pdf Hope this helps! Hello... Michelle Leng Lui... Welcome on board.. Can give special FD rate to lowyat members or not..? I guarantee the quota will burst within 3 days..
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BoomChaCha	Jun 25 2015, 06:33 PM Return to original view \| Post #27
Look at all my stars!! Senior Member 2,490 posts Joined: Sep 2011	QUOTE(bbgoat @ Jun 24 2015, 08:38 AM) OK lah, admit also eats CD. Taste great ! Don't you also like it ? Share, share ! Wasai, from real world to virtual world ! Taking another step .........................??????? Ha..? You want to eat me..? Come lah.. » Click to show Spoiler - click again to hide... « QUOTE(Castor Troy @ Jun 24 2015, 10:35 AM) I actually arrived at HSBC at 11am and did not have to wait for my turn, as there were not many customers tat time. I was there with my wife and we planned to open 3 a/c (2 individual + 1 joint). The bank officer told me that need about 15mins to open 1 advance a/c, which shud take about total 45mins! Since already there and dowan to waste effort, no choice lor... continue to apply... Worst thing was the officer screwed up the first attempt.. he said don't know why the system rejected application. So, he advised us go for lunch first while he continue processing the application. Return after lunch about 12.30pm, sign and there, ding dong ding dong then hafta go to counter bank in monies, then go another counter to process FD..... By the time got certs, already 2pm.... Regarding the umbrella, no... they didn't give any.. I asked for free gift, they say don't have... Managed to salvage the banana flavoured "Minions" tic-tac though. Lesson learnt: Before take up any promo FD, better also consider the time wasted to open new a/c (if don't have one). Sadly so far, personally never heard of any good remarks of HSBC (sorry if offended any bros loyal to HSBC)... That day, really tasted the medicine. Nevertheless at least the consolation is that I get 5%! hehe I hope no problems in my next visit when closing a/c after maturity date. Yes, HSBC has a lot of paper work for FD.. But anyway, Congratulations..!! You made a right decision for this FD promo 5% Especially during this inflation, we should try our best to get the best rate... And in addition, you managed to open 3 a/c (2 individual + 1 joint).. worth it lah... QUOTE(bbgoat @ Jun 24 2015, 05:03 PM) The other one I encountered is OCBC. But have good time looking at the leng lui RM. Experience with HSBC not that bad. Have been CB customer for years so cannot remember "the first time" when I opened acct there. Haha, taking a swipe at some of the regulars ? I would go for FD with eyetertainment in mind. But, I passed on the HSBC one. Too short in duration for me. Ah Boom brought gf's there to maximise his profits. Ha ha ha ! Ah Sir...of course I want to shoot to the maximum profit.....
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BoomChaCha	Jun 25 2015, 06:39 PM Return to original view \| Post #28
Look at all my stars!! Senior Member 2,490 posts Joined: Sep 2011	QUOTE(wil-i-am @ Jun 24 2015, 06:05 PM) Just rec'd a text from CIMB Bank 3.90% pa on 3 mths FD with min RM50k n valid till 30/6 Banks nowadays are asking for more FD deposit.. I think minimum RM 50K is too much... QUOTE(cklimm @ Jun 25 2015, 06:08 PM) the hidden agenda is, if you make any withdrawal, your rate will be reduced to 0.50% p.a, for that calendar month Yes...not easy to withdraw from OCBC Smart Savers... If want to withdraw, the best timing to do it is during first day of the month.. This post has been edited by BoomChaCha: Jun 25 2015, 06:45 PM
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BoomChaCha	Jun 25 2015, 07:04 PM Return to original view \| Post #29
Look at all my stars!! Senior Member 2,490 posts Joined: Sep 2011	QUOTE(bbgoat @ Jun 25 2015, 06:43 PM) Eat you ? I am straight. Only eat CD. Not sure of you now ................ You don't know the man in the picture..? QUOTE(cybpsych @ Jun 25 2015, 06:54 PM) mechanism works like traditional smartsaver account. very very good interest rate if u don't need immediate fund. I've been getting lots of free money by depositing 1k every month (as early as possible, usually 1st working day due to IBG, since interest is calculated over daily balance). Free money..? Can share how do you get free money..?
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BoomChaCha	Jun 25 2015, 08:21 PM Return to original view \| Post #30
Look at all my stars!! Senior Member 2,490 posts Joined: Sep 2011	QUOTE(Gen-X @ Jun 20 2015, 09:39 AM) you are exactly correct - and Bro, like any other pyramid scheme, part of your "new deposits" besides paying for BoomChaCha's dividend will be used to entice others (by using your money to pay for stuff to give to others as free gift) to join in the fantastic run. The moment we have an Economy Collapse and NPL (from PLs which have no physical collateral) sky rocket, the party stops. QUOTE(bbgoat @ Jun 20 2015, 09:09 AM) Uncle Boom, getting the 5 yrs rate from BR not that simple, eh ? Luckily the longest I have with them is 2 years and now going to <1 year. So far my experience is still positive with them. But admire our High Magician with FREE RENTAS from BR !! Captain, Ah Goat Sir & Big Magician.... A Good News... BR paid my FD dividend calculated from the first day of May until 24th of June, total 55 days interest. I calculated the earned interest rate based on 55 days in my iRakyat account.. BR did not lower my FD rate. BR keeps their promise to give me back the original FD rate... Must count correctly ma....Cannot miss one single cent....
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BoomChaCha	Jun 28 2015, 09:27 PM Return to original view \| Post #31
Look at all my stars!! Senior Member 2,490 posts Joined: Sep 2011	QUOTE(bbgoat @ Jun 25 2015, 09:56 PM) Ha ha ha, you really know how to express yourself ! Watchout that the Mxx (MIB ??) will go after you MIB..? Men In Black..? QUOTE(Gen-X @ Jun 26 2015, 12:27 AM) Maybe you should look at it from another angle, if you did not calculate and assumed BR would pay you as promised, you would have been cheated. And not first time BR have not paid you what they promised, previously you had to ask them to pay you the monthly dividend right? Seriously Bro, if it was me I would be pissed off me time and would not give them any business..... then again I would never put my money in BR anyway, hahaha. Captain.. I really do not think they have the intention to cheat me la... About the monthly dividend issue, the BR staff was not professional, she did not listen to what I said. In fact, I was complaining 3 times of dividend issues which she did not listen to my request for monthly dividend carefully. I suspect she is a half-deaf person.. Eventually she managed to solve the problems but this consequently wasting my time and energy.. I guess BR perhaps is the most polite bank in Malaysia... OCBC & Citibank also cannot fight.. No perfect bank in the world lah... Remember couples years ago, the OCBC RM tried to cheat my Gold Art? And also during last year, the arrogant AM Bank Senior RM (some-more a senior RM..?) asked me to keep my money at home.. QUOTE(magika @ Jun 26 2015, 09:42 AM) like this must monitor blood pressure also Somehow u reminded me of "Uncle Scrooge" counting pennies late into the night. In fact I monitor my blood pressure every day... If my blood test report OK.. I am thinking to place another 5 years FD.... This post has been edited by BoomChaCha: Jun 28 2015, 09:48 PM
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BoomChaCha	Jun 28 2015, 09:46 PM Return to original view \| Post #32
Look at all my stars!! Senior Member 2,490 posts Joined: Sep 2011	QUOTE(cybpsych @ Jun 25 2015, 09:59 PM) it's not. after 31 December, the rate goes back to 0.5% p.a. ... unless of course, OCBC introduce another promo rate that addon to the base rate of 0.5% p.a. note: This account has a maximum withdrawal limit of RM25k per calendar year and no limit on deposits. Please visit any OCBC branch to remove this withdrawal restriction (to have unlimited transaction limit). What does it mean by: Please visit any OCBC branch to remove this withdrawal restriction (to have unlimited transaction limit)? Does it mean that we can go to the branch to remove this restriction so that we can make unlimited withdrawal transactions?
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BoomChaCha	Jun 28 2015, 09:55 PM Return to original view \| Post #33
Look at all my stars!! Senior Member 2,490 posts Joined: Sep 2011	QUOTE(Ramjade @ Jun 28 2015, 09:49 PM) I think is if you want to withdraw >Rm25k Okay.... Thank You I think this e-SmartSaver is a good deal.. but the bad side is the withdrawal... The Am Bank True saving account is a good deal too... It looks like better than Affin Bank saving account... I think I will open Am Bank True for sure...
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BoomChaCha	Jun 28 2015, 10:05 PM Return to original view \| Post #34
Look at all my stars!! Senior Member 2,490 posts Joined: Sep 2011	QUOTE(Ramjade @ Jun 28 2015, 09:49 PM) I think is if you want to withdraw >Rm25k 13) Is there any maximum amount limit on e-SmartSavers account? Yes, your yearly withdrawal amount is restricted to RM25,000. Any transaction performed after your account exceeds this limit will be rejected. 14) I wish to transact more than RM25,000 from my e-Smartsavers account. What should I do? You need to visit our branch for a quick verifica tion for your account to have unlimited transaction limit. Source: http://www.ocbc.com.my/assets/pdf/Accounts...tSavers_FAQ.pdf If allow to withdraw more than RM 25K, then can consider ah.. What if need money urgently for heart bypass operation...., and cannot withdraw money to save life... then how..?
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BoomChaCha	Jun 28 2015, 10:17 PM Return to original view \| Post #35
Look at all my stars!! Senior Member 2,490 posts Joined: Sep 2011	QUOTE(Ramjade @ Jun 28 2015, 10:10 PM) That's why prevention. Eat some raw garlic everyday. Take fish oil. Cut down on KFC/Bak Kut Teh/Alcohol/cigarette and exercise. Wah.. eat raw garlic everyday.. KFC & Bak Kut Teh seldom eat.. Alcohol I do not drink.. I quit smoking more than 30 years ago... You missed one thing.. take high fiber foods Exercise.. Ah Goat is a sport man.. This e-smartsaver cannot open account inside OCBC branch..? This post has been edited by BoomChaCha: Jun 28 2015, 10:20 PM
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BoomChaCha	Jun 28 2015, 10:24 PM Return to original view \| Post #36
Look at all my stars!! Senior Member 2,490 posts Joined: Sep 2011	One more drawback of e-Smartsaver is we cannot open joint account... This is quite inconvenience for senior citizen.... Unless if we take the 6-month risk lah... This post has been edited by BoomChaCha: Jun 28 2015, 10:27 PM
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BoomChaCha	Jun 30 2015, 01:40 PM Return to original view \| Post #37
Look at all my stars!! Senior Member 2,490 posts Joined: Sep 2011	QUOTE(peterchua5717 @ Jun 30 2015, 10:32 AM) HI uncle Boom, Currently i just have basic saving account for HSBC? any requirement to upgrade my saving account to HSBC advance in order to place the FD account. QUOTE(Ramjade @ Jun 30 2015, 10:50 AM) If I am not mistaken, only valid for new HSBC customer I am not sure if it is eligible for new HSBC customer or for new Advance account customer..?? But I think most likely (99.9%) Ramjade is right.. This post has been edited by BoomChaCha: Jun 30 2015, 01:46 PM
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BoomChaCha	Jun 30 2015, 01:59 PM Return to original view \| Post #38
Look at all my stars!! Senior Member 2,490 posts Joined: Sep 2011	QUOTE(cybpsych @ Jun 29 2015, 03:55 PM) i almost sent out my application, until i talked to customer service. the problem (for me) is account closure. need to walk-in to branch to cancel. it doesnt really work like M2U Savers (purely virtual/e-account) which can be managed fully in M2U. OCBC e-SmartSavers need some walk-in intervention (remove RM25k withdrawal limit, account closure). not worth the promo rate 4.00% p.a., cuz i'm planning to close it after promo, which gonna waste my time/money later. IF, only if, e-SmartSavers can be closed via Internet Banking, then i'm interested to sign-up. Oh.. So need to visit OCBC branch at least times to use OCBC e-SmartSavers ..? But for me is ok lah.. only 2 visit for 6 months. Last time I had to go to Standard & Chartered bank every month to make monthly deposit just for the 4.2% interest in my Just One saving account.... Birds olso die for foods..not to mention humans lah... Thanks for the info.... QUOTE(bbgoat @ Jun 25 2015, 06:22 PM) Short term FD has its purpose. Right now I also have some 1 mth, 3mth FD placed. Some has been renewed. These are short term ones which I foresee to use them in the immediate future. I keep these at CB at low monthly rate as I can even call them to cancel it and use them immediately. But for those FD which I don't foresee I will be using them, I placed them long term, 1 year, 2 years and 3 years. Ah Sir.. when you cancel your Citi Bank 1 month FD before it becomes mature, do you still get the partial interest..?
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BoomChaCha	Jun 30 2015, 08:30 PM Return to original view \| Post #39
Look at all my stars!! Senior Member 2,490 posts Joined: Sep 2011	QUOTE(cybpsych @ Jun 30 2015, 02:32 PM) well, their definition of e-SmartSavers is that you can open it without stepping into the branch .... well, except for 2 reasons: remove RM25k per annum withdrawal limit and account closure. the opening criteria is not favorable to existing OCBC customers where you need to resubmit softcopy documents. unlike MBB, you can open Savers/Savers-i easily inside M2U. Ya....this is not e-FD.. To ask customer to visit branch and resubmit documents are a bit troublesome la... But usually high interest rate will exchange troublesome.. QUOTE(bbgoat @ Jun 30 2015, 02:47 PM) Wow, go to SCB every month previously to get the 4.2% interest for JustOne SA ? Really working so hard to make the money working for you ? That's why some people call me Guli Boom.. QUOTE(bbgoat @ Jun 30 2015, 02:47 PM) Are you joking ? For 1 month FD, how to get partial interest ? This is hard to say la especially for Ah Sir like you.. Just like our Big Magician, he even can get Rentas for free...
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BoomChaCha	Jun 30 2015, 08:39 PM Return to original view \| Post #40
Look at all my stars!! Senior Member 2,490 posts Joined: Sep 2011	QUOTE(cybpsych @ Jun 30 2015, 08:33 PM) new account registration & document submission is via eForm. only when u need to remove the restrictions or account closure, then need to process at branch. Yes.. But remove restriction means that I can withdraw any available amount in my e-smartsavers account?
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