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 Fixed Deposit Rates In Malaysia V. No.13, Strictly for FD Discussion Only

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kino318
post Jul 1 2016, 03:15 PM

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QUOTE(Deal Hunter @ Jul 1 2016, 02:50 PM)
Not many people know about Bank Rakyat (BR), Affin Bank, Kuwait Finance House(KFH not KFC mega_shok.gif ), Bangkok Bank or MBSB as places for FD. More like Huh? What?
Is it safe? Not so established? Inconvenient few branches? Where, not here? Any funny inconvenient procedures?
As a result, their FD promos were not exactly hot cakes because of the above even when they have promos head and shoulders above the rest. biggrin.gif

Opening savings account in Bank Rakyat with ATM card/internet access could be done first or together when placing new FD account with say 5k minimum in cash for monthly interest payment. Not sure if all branches follow the rule of issuing FD cert after banker's cheque or personal cheque is cleared. Usually use IBFT transfers after having SA - no problem.

For info, Affin Bank usually offers the best board FD rates and is the benchmark for comparison for board and promo rates.
Best monthly interest paying is almost always Bank Rakyat but it dips sometimes when the other banks try to get funds. biggrin.gif
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Hi, thnk you.
I was told bank rakyat, BSN FD is not protected under PIDM. Maybe this is the only concern.
Thk you.

David3700
post Jul 1 2016, 03:49 PM

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QUOTE(kino318 @ Jul 1 2016, 03:15 PM)
Hi, thnk you.
I was told bank rakyat, BSN FD is not protected under PIDM. Maybe this is the only concern.
Thk you.
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Is that true ? Can anybody advise....
ftan
post Jul 1 2016, 03:54 PM

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QUOTE(5p3ak @ Jul 1 2016, 09:27 AM)
which branch did you go to?
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Cyberjaya Shaftsbury

QUOTE(nexona88 @ Jul 1 2016, 11:27 AM)
well it's expected..

like I said previously, don't be surprise if by next week or so quota finish / target meet  devil.gif
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I'm predicting end July. Economy not so good and people also need to spend on festive season.

QUOTE(bbgoat @ Jul 1 2016, 11:38 AM)
vmad.gif

Wait for me on Monday ! Have some amt to move there !  bruce.gif  bruce.gif  tongue.gif
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Should be fine. smile.gif

QUOTE(kochin @ Jul 1 2016, 03:04 PM)
just did the following in cimb:
3 months 4%
6 months 4.1%
12 months 4.2%

the beauty was you can withdraw in multiple of RM1k or RM10k (i forget) and leave the balance of the FD intact to receive the FD interest.

something similar to their unfixed deposit program.

for those who are not sure whether they would be utilising their FD or not, i thought it was a pretty okay deal.

hlb offered 4.25% for 12 months
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Ok, this would be also a good deal. Will go and check it out next week.

harmonics3
post Jul 1 2016, 04:26 PM

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Managed to open 4.5%/p.a. FD promo in Affin which was not available 2 weeks ago. Took more than 1 hour coz a lot of people. somemore initial slip wrongly printed 3.7% board rate only. The bank staff said previously only open to selected customer but now open to all until quota filled up.
too bad the maturity date falls on a Saturday 1-July-17 and accordingly I will lose 2 days interest as can only withdraw on 3-July-17.
Deal Hunter
post Jul 1 2016, 04:28 PM

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QUOTE(David3700 @ Jul 1 2016, 03:49 PM)
Is that true ? Can anybody advise....
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Yes David, it is true that Bank Rakyat and BSN are not protected by PIDM. Which is why people always ask "Is it safe?"

Bank Rakyat is a Cooperative Bank where all deposits will be protected by the Malaysian Government under Ministry of Finance.
There is no mention of any 250 K limit. So do you consider this safe or safer still if put more than 250 k? In the end, you trust PIDM or ?? more.
To me, it makes no difference. It is only a matter whether the parties will honour their promise.
wjchay
post Jul 1 2016, 04:35 PM

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Sri petaling affin asking for minimum 300k for 4.5%.
Deal Hunter
post Jul 1 2016, 04:52 PM

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QUOTE(harmonics3 @ Jul 1 2016, 04:26 PM)
Managed to open 4.5%/p.a. FD promo in Affin which was not available 2 weeks ago.  Took more than 1 hour coz a lot of people. somemore initial slip wrongly printed 3.7% board rate only.  The bank staff said previously only open to selected customer but now open to all until quota filled up.
too bad the maturity date falls on a Saturday 1-July-17 and accordingly I will lose 2 days interest as can only withdraw on 3-July-17.
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Congrats on catching the promo in time and getting 367 days interest. rclxms.gif Probably close Hari Raya. Don't worry bro. Affin Bank is one of those decent banks that will pay you 2 more days interest at your placement rate of 4.5%.

In general, any placement on a 12 month FD placed on a Friday till end of this year will be uplifted on Monday with extra 2 days involved (unless Monday is a holiday). But make sure you place in a decent bank like Affin Bank and Bank Rakyat to enjoy the extra 2 day bonus interest at the placement rate without any hassle. rclxm9.gif rclxm9.gif
Deal Hunter
post Jul 1 2016, 05:08 PM

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Bank Rakyat tempting promo at 4.38% 12mths, mthly interest payment with only minimum 5 k, putting pressure. Quickly open up Affin and collect fast before some customers go back to Bank Rakyat. Good competition. bruce.gif bruce.gif rclxms.gif rclxms.gif

This post has been edited by Deal Hunter: Jul 1 2016, 05:08 PM
cklimm
post Jul 1 2016, 05:11 PM

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QUOTE(David3700 @ Jul 1 2016, 03:49 PM)
Is that true ? Can anybody advise....
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Its true, takut jangan pakai
nexona88
post Jul 1 2016, 05:47 PM

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QUOTE(harmonics3 @ Jul 1 2016, 04:26 PM)
Managed to open 4.5%/p.a. FD promo in Affin which was not available 2 weeks ago.  Took more than 1 hour coz a lot of people. somemore initial slip wrongly printed 3.7% board rate only.  The bank staff said previously only open to selected customer but now open to all until quota filled up.
too bad the maturity date falls on a Saturday 1-July-17 and accordingly I will lose 2 days interest as can only withdraw on 3-July-17.
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mind asking which branch? hmm.gif
sandkoh
post Jul 1 2016, 08:39 PM

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QUOTE(aeiou228 @ Jul 1 2016, 10:17 AM)
Thanks for sharing.
These are my opinions.
1) When FD interest rate is trending downward, it's best to lock in immediately whenever fund is available. The promo rate is likely to end anytime without notice regardless of "good days" or "bad days" when quota reached. Nowadays, one rarely see better then previous month FD rate upon entering a new calendar month, so holding on to the next beginning of the month is unnecessary.
2) For HNWIs, they would have spread out funds in every banks. To micro manage the funds back and forth FD > MBB GIA > FD in order to minimize interest loss while holding the fund till the next calendar month is technically not feasible. HNWI's amount exceeds online IBG limit anytime, OTC between banks is a waste of HNWI's executive time, more so must OTC only in the morning peak hours otherwise be prepared to lose 1 day interest, hence becomes penny wise, pound foolish.
3) If FD rate is trending upward, you do have a point though.
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good points esp number 2. notworthy.gif notworthy.gif transfer limit 10k, 30k, 50k per day depending on banks. lose interest if got to transfer few times/days.
guy3288
post Jul 1 2016, 08:40 PM

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QUOTE(Human Nature @ Jul 1 2016, 02:59 PM)
Is the placement amount substantial to get the pen?
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70+k
yygo
post Jul 1 2016, 08:45 PM

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QUOTE(cybpsych @ Jul 1 2016, 12:54 PM)
Deal Hunter can you write your own financial blog, instead of flooding this topic with your vague writeups?
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rclxms.gif yup, vague writing, read 3 times still tak faham.

QUOTE(sandkoh @ Jul 1 2016, 08:39 PM)
good points esp number 2.  notworthy.gif  notworthy.gif  transfer limit 10k, 30k, 50k per day depending on banks. lose interest if got to transfer few times/days.
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some pipu also put in board rates. so no rite/wrong way of put fd in good luck dates. need micro manage some more. devil.gif
wjchay
post Jul 1 2016, 08:55 PM

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Hi guys,

As we know, MBB eGIA-I is yielding 4%pa, even if we uplift within a day. Deposit today, uplift tomorrow, we will get interest with the principal. So what if we uplift and redeposit daily, will this mean we get daily compound instead of monthly?


cklimm
post Jul 1 2016, 09:09 PM

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QUOTE(wjchay @ Jul 1 2016, 08:55 PM)
Hi guys,

As we know, MBB eGIA-I is yielding 4%pa, even if we uplift within a day. Deposit today, uplift tomorrow, we will get interest with the principal. So what if we uplift and redeposit daily, will this mean we get daily compound instead of monthly?
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they may found your account to be suspicious and freeze it whistling.gif
Human Nature
post Jul 1 2016, 09:14 PM

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QUOTE(guy3288 @ Jul 1 2016, 08:40 PM)
70+k
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my most recent one was 60k+ and.....got an umbrella dry.gif
harmonics3
post Jul 1 2016, 09:29 PM

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QUOTE(Deal Hunter @ Jul 1 2016, 04:52 PM)
Congrats on catching the promo in time and getting 367 days interest. rclxms.gif  Probably close Hari Raya. Don't worry bro. Affin Bank is one of those decent banks that will pay you 2 more days interest at your placement rate of 4.5%.

In general, any placement on a 12 month FD placed on a Friday till end of this year will be uplifted on Monday with extra 2 days involved (unless Monday is a holiday). But make sure you place in a decent bank like Affin Bank and Bank Rakyat to enjoy the extra 2 day bonus interest at the placement rate without any hassle. rclxm9.gif  rclxm9.gif
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Hopefully what you say is true so that I will get the extra 1 day interest from Affin. Bank Rakyat will automatically adjust the maturity date to 3-July-2017 so no ambiguity.


QUOTE(nexona88 @ Jul 1 2016, 05:47 PM)
mind asking which branch?  hmm.gif
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bayan baru in penang.

nexona88
post Jul 1 2016, 09:55 PM

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Affin Bank 4.5% FD (special)

Available branch (as said by fellow forummers)

Affin Bangsar, Cheras, Subang Jaya, Shaftbury Cyberjaya, PJ New Town, Bayan Baru (Penang)
kit2
post Jul 1 2016, 10:30 PM

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QUOTE(nexona88 @ Jul 1 2016, 09:55 PM)
Affin Bank 4.5% FD (special)

Available branch (as said by fellow forummers)

Affin Bangsar, Cheras, Subang Jaya, Shaftbury Cyberjaya, PJ New Town, Bayan Baru (Penang)
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special meaning there is a min amount requirement?

can anyone tell me if affin allows us to set maturity instruction for fd? i prefer a fd that can withdraw directly into saving account upon maturity without paying a visit to the bank.
bbgoat
post Jul 1 2016, 10:39 PM

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QUOTE(Human Nature @ Jul 1 2016, 09:14 PM)
my most recent one was 60k+ and.....got an umbrella  dry.gif
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Interesting on Parker pens, umbrella, gold coins, towel given out by BR. biggrin.gif

QUOTE(harmonics3 @ Jul 1 2016, 09:29 PM)
bayan baru in penang.
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Actually Bayan Baru branch just started this one this week. Before that they did not have it. I was "forced" to go to Light Street branch, difficult parking there. biggrin.gif

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