Someone reported my above post... We cannot post foreign rate FD here? Isn't this a FD thread? Or Ringgit only FD thread?

The bank Islam I enquired takes in bank cheque and effective on the day. But need to collect cert another day. Personal cheque needs clearance.

Asked if opr increase will this promotion increase. Replied depend on hq and last round of opr increase they did increase the interest rate. Takes 1 to 2 weeks though. So I did a quick calculation and decided to risk it, current funds put one month fd at 2.25% first.

Normally year end banks need cash to pad up their balance sheet, so hope other banks will join in.

You use rentas method? Within few hours transfer complete? Anyway BI told me they will take 1 to 2 weeks to revise, and may not revise also. MBSB has a better chance to revise since they are buying someone.

My branch in jb I can still withdraw without the receipt. They can print for you again. Unless your nric doesn't tally with fd name.

Wow for Public Bank to give 4.2% even for 18th months, that's serious stuff.

Must it be PBB Islamic bank or all normal PBB can place this? My area I don't recall seeing dedicated Public Bank Islamic.

Seems Bank Islam still not change their rates for 4.4% 18 months and my FD of 1 month is up on Thursday. Made the wrong bet. Will go all in this coming Thursday.

Nope I put in at 2.25% one month only. Was betting after the Nov hike BI will revise the 4.4%, guess I was wrong. They anticipated already and since they are the highest now I think they see no need to act. Anyway I will just put in 18 months 4.4% on Thursday.

Yes.

OK just went all in to put 18 months in Bank Islam 4.4% just now. To be honest I am really impress with how Bank Islam has grown for the customer service portion. Previously many years back I wanted to go BI to open the 7 steps or whatever account FD, they even need to check with HQ since deposit amount bigger than rm200k or something like that. Opening account tedious blah blah, so in the end I never open.

Fast forward, now opening an account is fast and even the whole FD process is like less than 30 mins. They even waive the debit card costs plus annual fee because I insisted on the BSA (BNM insisted no charge). I am so impressed with Bank Islam that I am considering buying their share, if they don't bankrupt then either they go up in value chain or get eaten up.

Ok today I went Cxxx to rentas the money, took 30mins for the money to arrive BI. Went BI as I said the whole process less than 30mins. It helps there's no customer then. That's the problem with a lot of Islamic banks, they are good. But not many walk in customers. Good for customers like me.

Now according to the lady, Bank Islam is unlikely to revise the rate anytime soon since it is the best at the moment. They might still revise, so don't bet on it. The key is this promotion requires "fresh fund", and if you withdraw your FD within 14 days it is still considered fresh fund. If above 14 days then they need to check with HQ. But of course you will lose your interest in those days you deposit. So in a way good, if next week they revise the rate I will go change the FD just lose the number of days I put in earlier. Earlier I mention I had two FDs I put one month thinking someone might up the game with the Nov OPR rate increase. I lost the bet and lost quite a good amount of money.... shame.

Also this branch in JB I go to (bukit Indah) accepts personal cheque effective on that day too. Banker cheque personal cheque this branch don't care. But subject to clearance meaning you will get your FD cert a few days after cheque clears. They gave me a free gift too. A golf net... looks expensive even though I don't play golf.

I think these Islamic banks really up their game, so sometimes I wonder why we bother to go PB or Cimb or Maybank to queue like xxxx and the service not there too.

Thanks for reading. I am so far a Happy BI customer. Oh one more thing, I calculated the interest rate. I think BI goes by the number of days, not like some banks go simple way of calculation. I get less than a straight 18 months interest. And you get physical FD cert and you need the cert to take out the money. If you lose the cert can replace at counter costs rm10.

Don't understand what you mean. This is my first time with Bank Islam.

For free BSA limited withdrawals, you need to go check on their website. Free internet banking. I don't do atm withdrawals. Not sure if their online platform can access SSPN. Lately their internet banking quite buggy... sometimes cannot login.

What! Pbb is the last bank I expect to beat all! 4.5%!I just placed last week 17th in BI... I guess for 0.1 no point to move... Mon public holiday some more. Future funds will go to this 4.5%...

Fyi manager from BI informed me their fd promotion quota almost met. So either they will up the rate with new promotion or no more special rate. But now with 4.5% no point going with BI and I doubt people will choose BI over PBB.

This post has been edited by joeblow: Nov 24 2022, 11:32 PM

Just went placed another fd at public bank. Opening account was supposed to be fast but needed hq approval. The officer requested I come back next day... Joke. Blasted them and they called up hq to approve immediately. Placed 18 months 4.5%, I think now pbb highest which I cannot remember the last time pbb gives highest fd rate.

Somehow I don't like pbb, the bank always busy and getting a car park place is a nightmare. Staff can be quite arrogant. And no free gift vs affin or bank Islam.

FYI now bank Islam quota less than 100m, so either they get enough money or need to up their game soon. Now pbb is highest.

Both, apparently opening PBB account needs either branch or HQ level approval. I was unlucky got HQ approval... Joke.

What you wrote about the home branch and closing of account so real. Also if amount big need to go back branch too. Must go back to the open account PBB branch. So I have one joint name saving accounts I can't close or make active because already deducted rm10 for inactive. So I just let them deduct the remaining rm10 and close off the account.

Actually BNM rule states that you can have one Basic Savings account. No annual fee and card be free (this one no hard rule). So far for BI and PBB I insist and they never charge me for the card. As for the annual fee I will know a year later since I can't confirm if indeed no annual fee (verbally no annual fee). Their RCB card also no annual fee, but there's a stamp duty charge and a rm1xx to be charged if your balance falls below threshold.

Sad I will still go back to PBB (hard to get car park). Always so busy. Just hope some banks will beat this 4.5% soon.

I did not go to a branches with rcb. Even got reserved lots, sure full and double parked. ie car behind car.

Full refund?

I never bother but I believe should be no problem. Just got charged rm8 for handling, complained to branch and waiting for resolution.

Seems like 4.5% 18 months max so far. But this 10k requirement can withdraw immediately right? Used to be this way but now I don't know if they will enforce it for the duration of the FD.

Seems like for 18 months or more, best still PB Islamic and AMBank at 4.5%?

Today placed another FD at PB Islamic bank 18 months 4.5%. For those who don't know, if your PB FD matures on a PH or weekend, the next first available working day when you go uplift the FD please remember to remind the counter staff to give you that PH/weekend interest rate. But those interest rate only at board rate not special rate.

I don't know if it is me or the branch, but I find PB staff really arrogant (not all but those that served me, 2 of out 3). And joke is they do make mistakes. Make mistakes and still can be arrogant... faint.

Counter.