Affin bank is going to have their CNY FD-promo too.

The limit is based on your imagination and expectation.
One condition:
Teach your kids the value of money. Never pamper them. A rich kid will never understand the value of money and will lose respect for it as he/she thinks my father is rich. I have unlimited money. They will get involved in smoking, drinking, vaping useless activity wasting away on unhealthy lifestyle (too much money until they don't know where to spend)

Many of my friends end of the month no money - drinking in pub, karaoke, vaping, buying designer clothes/shoes every month, must eat at grand/high class places.

Asked them why don't you save? Aiyaa, for what want to save? When studying must enjoy life to the max. Lots of time to save later on. What more when adult time.

Three indicator I used for myself :
1)The money must be able to buy a Malaysian car fully in cash while you are still a student which means one is good (I did not buy any car)
2) Able to put away 50% of what you get every month (done)
3) Able to survive on dividends/interest (otw)

This post has been edited by Ramjade: Jan 2 2016, 07:08 PM

Good move. But you need to factor in worth your petrol and parking or not.

If for 1-2 months, or you have less than rm10k, can put with ocbc. However if 3 months or more better put promo FD rates.

Convince them to go for something physical like me. "Transfer" out your FD.

Back to topic, SA, FD inactivity is 7 years. So before 7 years, make sure you withdraw/add some money/uplift your FD.

Who cares about inactivity? You just contact the bank they will restore your account. Now the 7 years one is more Complicated. You need to run here and there. Contacting the bank will not solve your problem.

If anyone noticed a trend, all banks which offer high rates before this have start lowering their rates. A sign they are losing too much money by giving too high rates?

No banks in their right mind will you give promo rates after matured as they expect you to forget and let it renew at board rates hence paying you lesser interest. For what they want to give you higher rates when they can use the extra ~1% to pay themselves/share holders first? They will only give you promo rates if :
1) you are a Priority/VIP customer
2) the amount is very large
3) you topped up extra 10-20% of the original amount.

If you don't fulfilled (1), (2), don't expect to get promo rates. Be like common people and uplift your FD upon maturity and hunt for the best bank.

For (3), I already proved before this that it is cheaper to "hunt/move" your funds around rather rather than topup. To continue at promo rates, you need min rm1-2k (depending on your original amount). To "hunt/move" your funds, you just need max RM20. This is only applicable for people with money locked up and cannot be touched. If you have spare rm1-2k lying around, then by all means topup.

This post has been edited by Ramjade: Jan 4 2016, 12:04 PM

Your full name and IC no as shown in your IC.

This post has been edited by Ramjade: Jan 4 2016, 12:05 PM

If you have a Mach account, you can place it online without needing to visit the bank. However you better call up HLB and asked them money transferred from another bank via online is it counted as fresh. End of the day, if you don't have a Mach account, you will still need to visit HLB counter to place the FD.

I think was not clear enough. For Mach eFD, no need fresh fund. But I was talking about calling up HLB if he intends to transfer from m2u to cimb clicks for the 4.5% FD placement over the counter (instead of using BC). Will hlb consider that as fresh fund or not (transfer of funds from another bank or they only see cash and BC as fresh fund)?

This post has been edited by Ramjade: Jan 5 2016, 01:44 PM

The person wants to put the 4.5% FD at HLB. His money is in Cimb/maybank. He wants to know by transfering, will he get the 4.5% or he needs to use other ways to get fresh fund.

Well anyway, the poster didn't asked anything about Mach. So I assumed he wanted to put conventional FD by using money transferred from m2u/CimbClicks. Anyway, I think he got the answer already. Just let it go.

What do you think I have been al these while (place then end of the month uplift then place again with interest) ? By doing that, one is effectively getting more than 3.15% after 1 year.

Btw, if your money is >=RM5k and you are parking your money for 1 month, go for maybank islamic efd which gives you 3.25%. If is less than that, pick ambank islamic efd (their min is RM1k for 1 month which will give 3.15%)

You will need to open a M2U account. Which means you will need to open Maybank SA. Best part of the Maybank SA is you can asked for the free for life account and just keep RM1.00 inside there.
I just discovered the RM1.00 trick recently. Does not apply to Maybank BSA. For BSA, needs min RM20.

Bro, eFD = online FD

The difference is by manually doing that, you can add in additional funds when you place the new eFD

Use a program like lastpass. It can generate password and store them for you and can even aurofill for you. It's free.

Make sure to cancel the atm card or else will kena charge rm8+

People here already said can cancel. Read at least 5-10 pages back. Got info on canceling. I don't have a HLB account so cannot comment.

From what my friend told me,those municipal council saman no need to pay. Only need to pay police saman. But then again, I never kena any saman before.