Well probably they've excess funds and have no clue what to do with it! Lol.... If they're not benefiting you, it's time to cash and carry to another FD hehehe

Probably still have enough collected from their previous 4.5% FD promotion. So no need to offer anything high. Just enough to try to keep those blindly loyal customers who do not want to be bothered to shift to another bank.

If you have 5 million, surely you would not even look at HL now unless you are sleeping on the job or want to help the bank? Maybe just some reverse psychology for marketing their FD to attract as tho very hot bargain and need to limit the good stuff per customer.

If no promo, the retail client on maturity or walk-in will just go to any other bank with promo. So always need to have some promo, never mind not a high rate. There are always first timers and folks who don't bargain hunt, or waste time, or feel the difference is too low to even cover their transport and cheque costs.

The slow OTC transfer does not help matters, nor the limits on IBFT and IBG transfers thru ATM or internet. Even cash top-up thru MEPS ATM to make the minimum is constriicted by the rules on such cash withdrawals. Not everybody is happy with the idea of carrying big sums of money around from bank to bank.

From experience, I don't think bank staff are really that conversant with all the trip-ups in the system. Maybe the top people should get off their Beemers and take the bus (get off their arses and really look how screwed things are). Maybe not really want to make shifting around too easy?

I think any bank also will reduce/cut-off your interest at high worth. I know OCBC and PBB after 1 million or so the remainder of the amount earns savings account interest (basically nothing).

Banks prefer 100 customers with Rm50K, instead of 1 customer with RM5 mil.

As when the 1 customer suddenly (premature) wish to withdraw Rm5 mil, it may cause hassle for bank to borrow 5 mil from interbank to pay for the customer.
Whilst there is virtually not possible for all 100 customer to withdraw premature together.

This especially when promo FD is higher than board rate, and if they launched a promo FD intend to get 1 bil deposit, they do not like to see situation ended with 100 customer x 10 mil, whereby it may resulted customer base is not spread wide enough if no limit imposed.

Fyi, last time, banks did impose Tier 1 & 2 for customer who deposit more than 1 mil, whereby interest rate for customer more than 1 mil is actually lesser than the ordinary one.

Good point on the customer base spread for FD in banks.

Yes, I remember last time bank did impose the >1 mil deposit then lower interest rate. But now this may not have been implemented by all banks.

even for kiddies account....interest rate (FD-like) reduced upon reaching 50k onwards

I know banks like UOB, SCB, BR, HL do not have the restriction. PBB wise I thought they allow even higher amt for FD promo like 10 million max !

https://www.pbebank.com/pdf/Promotions/tc-pbfdextra-01.aspx

See 3.1:

3.1
Minimum (RM) Maximum (RM)
Individuals 20,000 10.0 Million
Non-individuals 50,000 20.0 Million

Maybank Research sees a strong likelihood of a cut in the domestic OPR or statutory reserve requirement (SRR) by Bank Negara as early as July.

Maybank Research said this comes amid the new uncertainties brought on by Brexit and headwinds from its knock-on effect, with global financial markets’ volatility expected to heighten.

http://www.thestar.com.my/business/busines...ead-to-opr-cut/

so faster go grab best rate u can get for long term FD before OPR cut

The Brexit make the OPR drop even becomes more certain.

Big Bones, final nail in the coffin for high FD rates this year, no more 5%, even 4.6% also gone ?

So faster go grab affin 4.5% FD

Already have 2 placement in Affin 4.5%. Have plan next week for that ! Hope still there by then !

If people read / following the advice.. Sure will achieved quotas

What to do, have to share share the good news, then all depends on whoever grabs it before it goes !

Sharing is caring lor we happy for them...

cherroy
Thanks for your insightful information.

Just did my 4.5% in affin bkit tinggi branch.

matow you might want to try again?

Hi guys, other than Bkt Tinggi & Kinrara, which other Affin branch is offering 4.5%?

Thanks.

Affin Bank 4.5% FD (special)

available branch (as said by fellow forummers)

Affin Bangsar, Cheras, Subang Jaya, Shaftbury Cyberjaya, PJ New Town

This post has been edited by nexona88: Jun 28 2016, 10:03 PM