What happen to mbsb? I wasn't on lowyat forum then. Mind sharing?

I don't think it was mentioned in LYN. The point is when one invest or deposit one's money with a financial institution, one should go do some homework. Same like playing stock, one should not go invest blindly but study about the company and who are the directors (back ground). Having said this, as long as you deposit up to RM250K that is covered by PIDM, your risk kind of minimal.

You are too young and have yet to see financial institution collapse during recession. And I can tell you the next one coming won't be pleasant. You want to see how bad things can be, go see Greece where it was once upon a time a very prosperous country.

This post has been edited by Gen-X: Jul 3 2015, 08:32 PM

Gen-X, have a question for you. You said cash is king during recession. How can it be?. Look at Greece. Cash is not king for them now.

This post has been edited by Ramjade: Jul 3 2015, 08:46 PM

When a local giant like Maybank goes kaput, does PIDM has enough fund to cover tiger's ass?

I asked Affiin bank this afternoon, after we place the FD, those promo rates will not be changed regardless
of the OPR change. This Affin FD promo is still available.

RHB 4.21% for 1 year is extended to end of July

This post has been edited by BoomChaCha: Jul 3 2015, 11:22 PM

Bro, you really blur lah, Greece government got no cash that's why they are being bullied by the other EU nations.

I also want to know

Where can I get Affin FD T&C?

People are struggling to have enough cash at there!

Cash is the king at such situation.

PIDM just cover 250K per account entity basis, it is not covering the entire bank liabilities.

PIDM is supposed to cover all banks, not just MBB. In insurance terms (PIDM is a kind of insurance subscribed by banks), supposed to be able to. Note, "supposed".

Add: as Cherroy mentioned just 250k, NOT all sums per acct entity basis.

This post has been edited by bbgoat: Jul 4 2015, 09:30 AM

PIDM is a gov agency not ordinary private insurance company/body.

From PIDM website:

http://www.pidm.gov.my/For-Public/Frequent...%28FAQs%29.aspx

Q1: What is Perbadanan Insurans Deposit Malaysia (PIDM)?
A: PIDM is a Government agency established under Akta Perbadanan Insurans Deposit Malaysia (Malaysia Deposit Insurance Corporation Act). PIDM was set up in 2005 to administer the Deposit Insurance System (DIS) aimed at protecting depositors.

Beginning 31 December 2010, PIDM’s role was expanded to administer the Takaful and Insurance Benefits Protection System (TIPS) to provide protection to owners of takaful certificates and insurance policies.

Within Malaysia, we are known as PIDM, being short for Perbadanan Insurans Deposit Malaysia. Internationally, we are also known as the Malaysia Deposit Insurance Corporation (MDIC).

Bythe end of 2015, PIDM's Deposit Insurance Funds will amount to RM 1.2 billion and the Takaful and Insurance Benefits Protection Funds will total RM 1.3 billion.
In an unlikely event if Maybank goes kaput, PIDM also pening, though the protection is limited to RM250k per depositor per member bank.
Compare PIDM to 1MDB's liability, PIDM's funds is very much negligible.
Anyway, having PIDM protection is better then no recourse at all.

Read page 1, post #3

maybank now 4.17% - 12 months.

Which banks have step up or roll over now?

Nice, the 4% interest rate for OCBC e-SmartSavers account is on par with that of fixed deposit account, without the need to hold the deposit for more than 6 months (a requirement for fixed deposit).

1) I have OCBC Easisave Saving Account and access to OCBC Internet Banking. If I have opened and activated OCBC e-SmartSavers account, can I access this account via Internet Banking, and can perform deposit and withdraw money to and from e-SmartSavers account; and transfer between my two OCBC saving account?

2) Is it possible that OCBC may revise 4% interest rate, should there be any change to OPR?

3) Is there an annual fee for this account?

This post has been edited by alvinkhorfire: Jul 4 2015, 09:55 PM

The 4% is until 31st December 2015. After that it will go do to 3.05%. Any withdrawal of any amount from this account will drop the interest down to 0.5%. Need to deposit min RM1k to get the 3.05% although now all one need is maintain RM1000 and deposit minimum RM50/month to get 4%. More trouble than it is worth.

Better take the ambank true savers. 2.8% interest. Withdrawal will not have any effect Even with no deposit, one still earn 2.8%

I did make a call to OCBC, the 4.0% is only for those that taking up the housing loan account with them within the promotion period.

Otherwise they will only give either 3.05% or 2.90%.

Can anyone help to confirm ?

Hi Gen-X...

I think those with cash in hand is king... but even if you got cash in bank. ... u cant take the money out... that is why those with money in bank... does not feel like cash is king...

I think this is what the question originally mean...

This post has been edited by kevyeoh: Jul 5 2015, 10:38 AM