Not true. Islamic banking Is also guaranteed by PIDM.

I sometimes intentionally go for Islamic FD if both Conventional/Islamic FD promo is available in the same bank. Islamic FD has separate PIDM coverage:

"All types of depositors, whether businesses or individuals, are protected. The maximum limit of coverage is RM250,000 per depositor per member bank. This includes both the principal amount of a deposit and the interest/return. With the RM250,000 limit, 99% of depositors are protected in full. The Malaysian Deposit Insurance System provides separate coverage for conventional and Islamic deposits."

http://www.pidm.gov.my/For-Public/About-De...urance/Coverage

Sorry my bad, I take back my word on previous post.
Thank you for the correction.

I think this link give good explanation on GIA-i
http://ringgitstretch.blogspot.my/2016/03/...nt-i-gia-i.html

GIA-i is not ordinary "investment" like UT, just a way of deposit that you give money to bank so that bank can lend out the money at a loan rate, which in return, the profit is shared between

Quite similar to conventional banking, whereby we put money in FD, then the bank will lend it out to borrowers.

Different is in concept of profit sharing, vs fixed interest rate.

Bad news guys, just found out 12 months promo GIA has ended last Friday!
Though the link is still shown after logging into Maybank2u but just to be safe I went to ask at the branch, they said the quota is finished for this month nationwide.

Apparently there will be a fresh quota allocated next month

Yup. I would not take the risk for the extra 0.1% gain.
Prefer to have fixed interest for a fixed period of time which is known upon placement
Would rather to go for bond fund if willing to take higher risk.

Nevertheless, thanks CHERROY for posting the pros and cons of GiA.

0.1% gain is not significant. But I like the flexibility of Maybank GIA. If You deposit today and after some time you need money and withdraw they will give you interest based on the number of days. This is great.

I presume still can try via m2u if interested

oh so sad to know..

next month is very critical.. OPR meeting

I have mentioned before that I will still go for UOB's 3.95% instead of MBB's 4.1%. Just to be on the safe side. Now it seems UOB can ask for 4% and MBB's 4.1% met quota. So in early Nov, will ask UOB RM for 4% if still available.

I think for smaller sum can still put in the MBB GIA-i 12 mth if available next month. But I won't put large sum (6 figure) in there.

This post has been edited by bbgoat: Oct 24 2016, 04:56 PM

Just wondering.. If anyone knows that Alliance bank allows interstate withdrawal (ie:no limit and allows upliftment at other branches? Like SCB/AMBank )

Appreciate any input on this...

For now, highest fd at 4% is at alliance bank , HLB online fd placement and uob?

yeah so far as i now of

Called up alliance privilege banking and spoke to the manager , tried asking for 4.1% but manager said unable to give unless there are other investments with the bank.

alliance 4% is only valid for 2 mths?

Or it can be more?

For 1 yr, >100k can get 4%.

Oh my bad.. i saw the print screen on one forumer placing that stated tempoh 2 mths.. But the 1 is hidden inside.. so is 12 mths.. Haha

That is still OK, luckily u did not see the 5%, then there is a need for eye check up ! Hahaha !

Planning to try my luck with the GIA promo. In M2U, I just need to place it as 12 months as normal right? Since there's no specific option to select the promo rate.

Thanks

any luck on the GIA promo?

Placed 10k for 12 months but not sure if it's qualified for the promo or not as it's not shown in the summary page