No way. FD rates will continue going down. OPR going down further.

Not necessarily. You have 2 options:
(i) look for banks that accept <RM10k as fresh fund (usually BSN - but I sm not sure if they have promo now or not
Bank Muamalat accept RM3k for 3 months - 3.98%)
Source: http://ringgitstretch.blogspot.my/
(ii) park in Maybank eGIA-i first. Every month uplift, add new money + interest earned until you reached RM10k.

Hope that helps.

Unlikely as OPR is going to be cut some more. Even the highest Affin (4.05% now) will be reduce.

This is when people with PIDM account will feel safer cause if bank kaput, PIDM will cover until max rm250k.
Of course if one bank after another kaput, then PIDM pun tak ada cash utk cover.

Ask yourself this question:
(i) Do you have rm10k to meet the requirements?
(ii) Are you sure you won't be needing that money?
If yes, then by all means put into HLB eFD.

Keep in mind that its not flexible like maybank eGIA-i. So if you withdraw before maturity, don't expect to get full interest.

You don't need to keep all rm10k inside eGIA-i. Just keep what you need. For me, I keep 2 months worth of monthly usage in there. Rest I dump into amanah saham.
Just just my suggestion. Rather than let it sit in SA where it don't eaen anything, better let it sit in eGIA-i earning 3.58%.

Btw instead of HLB, better to pick RHB. It's 4%

Man I feel cheap now. We ise to laugh at 4% saying it's low. Now 4% is the new high.

This post has been edited by Ramjade: Sep 3 2016, 08:24 AM

Remember, I don't do FDs anymore except eGIA-i. Just remembering the times when I scoff at 4% will only accept anything above 4.2% those days. Like what one person said putting in FD = watching your money being eaten alive (inflation)

As long as they publish the rate, that's what you are getting but may change from month to month. However is stil higher than any SA/1-2 months eFD and it require min amount of ammo i.e RM1k only unlike other FDs which need RM10k. RM1k is easily obtained by most people.

Unfortunately yes. Only for maybank. I would love to see another bank coming out with something like that so that it will give eGIA-i a run for the money. But how can you beat a combo of only RM1.00 in SA + > 1 month eFD rates + flexibility of withdrawal?

Yes. Means you put in RM1k, you might not get your RM1k back, interest might not be what you were promised. Min requirement is RM1k put for 2 months, can remove anytime. Better to pick that over RM5k

This post has been edited by Ramjade: Sep 3 2016, 09:15 PM

Thanks. That works.

Use the "Go Back" beside the "Confirm" button.

Just do it like below except instead of waiting a day, just use IBFT back.
Why wait few days? You can straight do it on the day itself. Waste few days interest. Learnt it from sifus. No banker tell me this. They told me not ethical. My foot not ethical. t's my money.

This post has been edited by Ramjade: Sep 6 2016, 01:44 PM

Bank A - The bank which you want to put
1. Activate online banking
2. Set limit to RM30-RM50k (depending on banks)
3a. On the night before, perform a IBG to bank B (to save cost -RM0.11 only - money will arrive in bank B by 11am)
3b. Use IBFT to bank B (cost RM0.53 - money appear instantly)

Method 1
1. Go to Bank B ask for banker's cheque of RM20-30k pay to your name and IC
2. Pay few ringgit (depending on bank)
3. Bring banker's cheque back to bank A and tell them you want promo rate FD at x.x% rate.
4. Give them banker's cheque

Method 2
1. IBFT the money back to Bank A
2. Go to bank A and tell them you want promo rate FD at x.x% rate
3. Tell them fresh fund was just "transferred" from bank A.

Usually banks give you 3-7 days. Better check with bank. I used to do method 1. Now no longer do FD.

All banks rates are like thaat. You just have to accept it or go to counter.

I think is because rather then put rm1k in egia, he collected to make it to rm10k to get higher rates.

If banks start cutting promo rates in September how before your FD matured, what are you going ro do?

Eh, last year banks which offer 4.5% suddenly reduce from 4.5%. No warning. When they did that, other banks also start cutting down their promo rates.

Last time without opr annoucement, from 4.5%. the new high become 4.3%

Anyway, it doesn't affect me. Will just be watching. The only thing affected is my eGIA-i.

This post has been edited by Ramjade: Sep 8 2016, 10:35 AM

Min rm10k and can only be done via counter?