Aiyoh instruction cost money no?

To prevent SA going dormant from inactivity, you also need to credit in or withdraw more than once a year or else spend more to activate. This one of the things have to be careful about if play moving funds around for best FD deals to avoid tergendala rancangan.

Some customers use the BR debit card to withdraw cash for use monthly or routinely collect by transferring online from their various FDs to make new FD. Keeping in BR SA is nowadays far worse than before as no more updated with attractive monthly SA profit rate.

If doing just a lump sum placement, then on maturity OTC, you need to consider closing the SA at the same home branch OTC or else do the deposits/withdrawals to keep the SA account alive if you want to conveniently transfer in money for next promo.

BR normally does not keep replacing promos immediately after the end of each promo, but wait for some time for the next attractive promo. The present promo is much earlier than normal after the previous promo ending. Guess the competition from other bank FD may have made them collect less and now need to try to collect again or keep their maturing FD customers from running away. Anyway they are too late with this promo for me, as I already shifted/placed at other banks.

This post has been edited by oldkiasu: Aug 6 2022, 10:46 AM

1m 2.30 % (1.000)
3m 2.65 % (1.152..)
6m 2.80 % (1.217..)
6m 2.93 % (1.273..)
9m 2.90 % (1.260..)
12m 3.30 % (1.434..)
18m 3.30 % (1.434..)
24m 3.30 % (1.434..)

Help me look for any better than above.

This post has been edited by oldkiasu: Aug 11 2022, 11:42 AM

Thanks for the answer. But my boss wanted the confirmed answer yesterday.

OPR up 0.25 %, and FD from 2.55 % to 3.55 % after September OPR is what you mean?

This post has been edited by oldkiasu: Aug 11 2022, 04:07 PM

Thanks for the valuable comment. Really so crippling 20k only? Like that cannot use.

The final targetted FD maturity amount on any particular maturity date is now set at 50k (current Maximum Daily Transfer Limit) as too troublesome/timewasting to do OTC transfers. Effectively this means about 49k+ involved per FD placement.

Special high promo rate like 2.93 % 6 months for Affin Invikta at 200k per placement also even more problematic as above.

cancelled


This post has been edited by oldkiasu: Aug 11 2022, 04:04 PM

They probably had lost many millions already in shares and various sure to make money schemes/investments before, and realise how important it is to keep enough to recover from an unexpected mistake or turn of events. Reality is a hard teacher in the university of hard knocks to many people.

One of the most unfortunate things that can happen to a person is to be lucky and make big early, and not realise he is not invulnerable and it is all losable.

It is not just simply got too much money coming in fine from whatever they are doing, and don't know what to do. Their expertise in a certain endeavour can sometimes have certain limitations to growth. And they certainly are well aware that their special skills/knowledge/contacts are not all transferable and a venture into some other field can result in being eaten alive due to their lack of knowledge or skills, just like how they can do to others. Just talk to people who are rich and lost before, and not just happily rich.

This post has been edited by oldkiasu: Aug 11 2022, 06:11 PM

Other than those who are still active and put money into FD as sort of emergency, backup or recovery funds (like after suffering Covid business losses, or losing money in bitcoins or property value or rental, etc), there is another group of early retired successfully, or normally retired people.

One group has some FD, but the interest is not enough to cover their lifestyle, so they end up eating into their savings. This is sort of like EPF explanation of retire and then deplete till average life span. Offhand, it can be said that this has its flaws such as old folks home fees, medical fees and inflation.

Another group, tries to ensure that the savings is not depleted by having enough interests to cover all fixed expenses and projected inflated expenses and medical needs to about 100 years old.

The last group, is much more prudent, cautious, pessismitic, visionary or ambitious. Their objective is to grow their FD as much as possible without taking on risks, with interests covering projected usage and increasing their principal, using the best expert methods they can find. To them, coverage is important, and even if they died quickly without using it, they are still happy not to burden their children, and possibly can leave something to help the next generations. For them, the "Makan pun tak boleh habis" - does not apply at all, because they have the ethic that money is a gift/talent to be grown to help ownself and others.

This post has been edited by oldkiasu: Aug 11 2022, 08:36 PM

Short term waiting places for OPR rise as follows:-

OCBC 360 SA at 2.3 % up to 100k only.

Online at Bank Muamalat 1 month promo at 2.3 %.

Online at Hong Leong 3 month TIA at 2.65 %.

I used to transfer in using Duitnow or IBG into Bank Rakyat savings account from various banks if want to place more than 50k. I avoid cheque or Rentas for Bank Rakyat.

Usually, I use online placing and withdrawal at other banks instead, but at a smaller principal that will give a withdrawable amount that can be transferred out at once (Maximum Daily Transfer Limit) on the same day to another bank without losing a day or more stuck in the bank. I also try to limit the placement to avoid Covid danger from waiting for bank to rentas, make transfer or make cheque for big amount on maturity.

You might also have problem with a 50k FD if the interest is not paid monthly into SA, but to be uplifted on maturity at principal + interest of more than 50k at a non-home Bank Rakyat branch.
As a result of this limitation interpretation, it is advisable to place principal that will result in a final amount that is 50k or less.
In the past, I had encountered various non-home branch maturity interpretations before at various banks, not only at Bank Rakyat. Non-home branch knowlege about banks always need to keep in mind for such situations.
It is also one of the reasons why one should opt for payment of interest automatically into a specified savings account instead of the other options.

This post has been edited by oldkiasu: Aug 16 2022, 11:31 PM

Already started placing at this promo on Monday 8 August. But being informed a week late might not be a bad thing as branch may have received supply of free gift for promo by then.

It is all legacy method. Last time, customers who want monthly payment of interest still had to show up at the bank to withdraw. So the last final withdrawal is the same as FD maturity date.
There is some idea that this has something to do with insisting on returning the FD certificate physically at maturity.

Not everybody have and uses online to check and transfer. But can ask and hope Bank Rakyat will provide the choice of auto uplift into savings account on maturity when they upgrade their system to non-certificate FD like other banks.

This post has been edited by oldkiasu: Aug 17 2022, 11:17 AM

Why are you comparing their HL FD with their normal TIA in the advert? We never bother with these rates since they are way below the HL promo rates.

HL promo TIA are 3m 2.65%, 6m 2.8%, 12m 3.15% versus normal TIA 3m 2.3%, 6m 2.35%, 12m 2.4%.

Cannot simply use the internet and swallow whatever results or webpages shown even if they are genuine from the bank. FYI, normally webpages are never designed to show everything, and usually suffer from lack of certain information at the time they are made, and most times have parts/links to obsolete information or examples in the rush.

Please use common sense and put yourself in the shoes of why programming bank info/webpages always suffer from some problems. Until the day comes when all banks acknowledge and conversant with the normal mistakes, there won't be any improvement since they do not even know they got it wrong. But nobody wants the thankless and troublesome job of informing the banks, to do a proper check on all aspects which most times they assume are still valid or minor details-haha.

Another widespread problem, is that web team take orders blindly and never try to question/remind whether anymore missing or late details or info. One reason may be because they are not familiar with the nitty gritty requirements from the customer angle, and always thinking, obedient or overtrusting from the bank side. This is a normal problem in all kinds of business.

This post has been edited by oldkiasu: Aug 18 2022, 11:01 AM

Bank Muamalat eFTA-i rates as shown for placement on Fri 2 Sep 2022.

6m 2.85 % min 5k
12m and 18m 3.33 % min 5k

1m 2.3 % min 5k
3m 2.35 % min 1k
6m and 9m 2.45 % min 1k
12m 2.55 % min 1k

HL TIA-i Investment rates (no PIDM) as shown for placement.

HL TIA-i Promo rates min 2k, max 5m.
3m 2.65 %
6m 2.95 %
12m 3.20 %

HL TIA-i non-promo rates min RM 500, max 250k.
3m 2.20 %
6m 2.35 %
12m 2.40 %

Q:-What were the top rates placed in 2019 and 2020 ?
A:-Tops were Affin 18 months in April 2019 at 4.50%.
MBSB 5.50% 6 months in Jan 2020. CORRECTION: MBSB ER 4.25% 75 FD: 25 PrimeWin
HL TIA-i (no PIDM investment) 4.25 % 6 mths.

Q:-When do you expect the Malaysian banks to up their top promo rates to something like this after the BNM MPC meetings after 8 Sep and 3 Nov 2022?

This post has been edited by oldkiasu: Sep 6 2022, 10:37 PM

That was a flat 5.50% no strings attached FD in Jan 2020 at MBSB with interest already paid on maturity in 6 months. Maybe MBSB or other FD placers at MBSB could answer your doubts.

Do you really expect readers of this forum or other financial websites to even be aware of all the promos? Are you even aware that there were good promo offers that were never even mentioned in this forum or other financial websites?

It had been complained before about the lateness, lack of website info, adverts and ignorance of bank staff about their own bank promos.

Even now, we have posters posting a fraction of the offers from various banks. Maybe they did not know, got wrong/incomplete info from bank staff and did not countercheck, did not go online to the bank eFD placement sytem, did not understand/differentiate between the general advertising and online banking bank websites in their incomplete search, not interested in that particular tenor, or withholding the info so that they have time to collect enough money to place before others rush in and take up the fund before they do.

On the otherhand, sometimes posters even post special conditions rates or nego rates eventhough usually not applicable to readers.

The 2 rates were found because the searcher already expected when the rates should change to cater for the situation and the EPF situation. Searching blindly incidentally or according to a timetable, or depending on info messaged from bank, or published sources, have its weaknesses - the most vital being missing out totally.

Another thing to note, is the assumption that FD should be about 12 months, so even posters and bank staff miss out the good ones at other tenors.

This post has been edited by oldkiasu: Sep 6 2022, 02:59 PM

Thanks everybody for the clarification. I admit it probably was the 5.5 % 75FD:25PrimeWin bundle with ER at 4.25 % mentioned by various people, since the source table does not mention ER at all.