Saw 1/2 page of advertisement by AmBank on FD promotion for 24 mths @ 4.60% in The Star ytday

get joint account (wifey, gf etc) in the same bank, then you can get 250k X2 protection.

that is the one unkle like ah goat mentioned.

I don't think it works that way. I think goes by name. People here debated about it before. I could be wrong. Wait for more Confirmation.

Btw, no need to be scared. So many unkers here with priority banking and >RM250k in deposit, they are not worried. Why small kuaci like us need to worry?

pidm.
thought it goes per account rather than per name basis?
now i am worried.

Bro, they already discuss here before. Pidm doesn't have enough money to cover all depositors in malaysia. Is just for you to "feel good"

It is per account entity, not number of account.

A&B has account with Bank Y
A could have 2 personal account
B could have 3 personal account
A&B could have another 2 joint account

In the end of day, A got 250K and B 250K coverage through Bank Y.

One is better worry about your job security, monthly wages payment etc other issue, instead of worrying of needs of PIDM coverage.

If PIDM need to be invoked, the state of economy could be too bad until financial market become chaotic and mess already.
Just like what happened during 2008 global financial crisis. (PIDM still didn't needed at that time).

murid ram, shoot too fast again!

per above i listed is correct for 2 accounts with different names. except it is limited to 2 accounts for 2 persons (even have a, b and a+b accounts).

This post has been edited by yygo: Oct 28 2015, 09:39 AM

unkle vincent got us excited!

pidm deposit protection still 250k as described by @cherroy.

only takaful and insurance is 500k. star newspaper yesterday has the advertisement.

http://www.pidm.gov.my/#

This post has been edited by yygo: Oct 28 2015, 09:37 AM

I don't think so. Cause if I have rm250k in my own n account, then I open a joint account with rm250k, I am entitle to protection of rm500k? I dont think so.

go and study some more! is that how you study? @cherroy has very clear example. read carefully.

it is you got 250k and the other person another 250k protection. but if the other person is your family member, gf/wife, and the money is yours, so still get 500k protection for youself

This post has been edited by yygo: Oct 28 2015, 09:46 AM

Then I am right.
A have rm250k in own account
B have rm250k in own account
A&B have rm250k in joint account.

Total protection is only rm250k for A and B respectively.

Like Cherroy said

So where am I wrong? A and B can have 10 accounts but only received rm250k/person protection = protected is by name not the number of account.

This post has been edited by Ramjade: Oct 28 2015, 09:56 AM

Called Bank Rakyat for the gold coin promotion. Unfortunately today is the last day !

Minimum deposit is RM300k.

again no die attitude!

most people if want to get >250k protection will use joint account, so your money, still your protection:

it is you got 250k and the other person another 250k protection. but if the other person is your family member, gf/wife, and the money is yours, so still get 500k protection for youself

Thanks guys.

So whats the bext best deal - OCBC 13 mths pure FD 4.2% ok?
Im looking at RHB, MBB, OCBC and CIMB only at the moment.

This post has been edited by familyfirst: Oct 28 2015, 10:07 AM

no perfect right or wrong. depends on your risk appetite.

ocbc is fine so is mbb 4.5%.

300k, hahaha

hahaha depend on the person. for some just to join pb, for some, still geting that amount.

question, how come i cannot find the mbb and hsbc fd campaign in the bank's website? how should i goto the bank and ask for those special campaign promo?

some banks do not advertise in website or did not update. call first or go there to ask.

if that's the case and working purely basing on theories, how many banks are there in malaysia with pidm coverage?

if say 8 banks, maximum protection theoretically would only be RM250k x 8? assuming the guy spread across all the banks at max RM250k? RM2mil nia???