Agreed. The minor 0.05% interests is negligible.

Yes, and its not easy to open an account there if you do not have a work permit or an address there. Moreover, SG fds are one of the lowest in the region.

Singapore FD interest rates are around 1.2-1.3% and recently went up to around 1.8% to 2% as claimed by some forummers here. If that is not the lowest rates around, maybe you can point out to another country which has lower rates for FD. I'm stating the obvious fact that the interests rates are indeed one of the lowest in the region, regardless of other reasons. Anything wrong by that?

Wow.. That's even lower. maybe can put it as "better than nothing". Btw this proves that the banks in Sg or HK are so cash rich that they don't need customer deposits?

Home financing interest rates dropped as well. Many are enjoying lower instalments right now. So banks have to cut down on interests given on FDs and saving accounts too.

An Affin CS explained that there are two types of placement, one is the Islamic 4.23% for 15 months and Conventional 4.48% for 15 months which requires you to earmark 10% of your deposit into casa and the 90% as your FD.

Why risk all for Rm5.90? Anyway, if you bring cash to the counter, the teller will definitely ask you a lot of questions on where you got cash from. Might as well just bring banker's cheque and avoid going through all these.

This post has been edited by TOMEI-R: Jul 17 2019, 05:40 PM

It's part of bank procedures to ask you to refer to a branch near your registered address. You can actually tell them you are working here and provide your workplace address in KL. That would be a good reason for them to let you through.

They are already doing it. Eg..HLBB have shorten their fixed deposits from 6 months to 3 months. Weird that many chose not to believe our economy is rapidly deteriorating.

This post has been edited by TOMEI-R: Aug 13 2019, 12:08 PM

What bank is this bro?

If CASA then no bro... Just asking. Thanks.

Asking for a friend bro... Me no money. Got also all used up changing phones.

No PIDM protection. 2nd, when you average out the interest out btw FD and casa, the rates would not be so attractive anymore.

Thanks for pointing this out.

HLBB revised its rates to 3.0% already. No more 3.1%.

Yes...not very ethical and updated from their side. Anyway can forget about them since other banks are offering much better rates.

This post has been edited by TOMEI-R: Apr 11 2020, 09:38 AM

Highest rates right now should be ambank's 3.5% for 6 or 12 months.

The SOP would be to transfer the money out to another bank and transfer it back. Fresh funds it is then.

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This post has been edited by TOMEI-R: Apr 22 2020, 02:40 PM

They are asking you to spend instead of keeping it in the banks.

Whatever. Most important is you spend to stimulate the dying economy.