Dunno if can ask bank rakyat to match or not

So that means we can only withdraw on the next day right?
Not on the end date.

Haha.
I am creating an account and putting into ambank tomorrow
I have to think about what to do with this extra 10k. Why dun they just let us put this 10k as FD as well.

Aiyah 10k dunno why want to ask us put in.
We already put in more then 200k in already. This 10k for what.
That is why I say ppl working in the banking industry really like water fish.

But this 4.3 is OTC right? Because if can do online it's better for me. Also if OTC, must I uplift only at the branch where I placed the FD?

But seriously. FD rates really sux since the 4.8.

This post has been edited by BrookLes: Feb 13 2023, 05:21 PM

Just have to say. Ambank worst bank ever.
I have to go to the actual ambank center to apply for privilege status immediately.

And when I went to the counter the first time, the person did not even tell me that if I have to go to Sri petaling if I want to get immediate privileged status. otherwise might take 2 days to approve.

And I actually have to get a bill as proof of address even though my uncle one is acceptable. And they do not even accept if it's slightly torn. I mean a torn bill is not a proof of address? That even when I have evidence that I opened another account with affin banks nearby.

Should have imagined how difficult this bank is when you guy say have to put 10k overnight.

I told them immediately that pb and affin bank can make me privileged customer immediately why you cannot. I just have to put in the required amount right. And they say it's procedure. I mean. I thought we are living in 2023?

Opening an account was never so difficult even before the pandemic. When I opened my account in cimb or hong Leong
It was a straightforward process.

Like I said. People working in Banks are not there to make your life easier.

This post has been edited by BrookLes: Feb 14 2023, 04:12 PM

Must be pretty easy to work there. Free money just shaking leg.

Thanks for your input.
For me. It's incompetence.
I have issue even creating a basic account to put my monies in.

Dunno why that mentally disturbed guy have issue even to the point of telling me not to put my money in.

And I think he is mentally disturbed because I keep highlighting his mistake of not putting into 4.5 when he had the opportunity.

So I am going to rubbed at his face by telling him that most of my funds are in 4.5.

This post has been edited by BrookLes: Feb 14 2023, 05:49 PM

Hai. They come up with this just after I put 4.3 into ambank

Actually last month. But you do make a point. I remember putting 4.5 for public bank. Should have just withdraw and swap for 4.8

Only 18 months. But I could have max it up by doing what you say. Upgrading to 4.8%. I should not have been so lazy.

Definitely more then 2 weeks. It's ok. Thanks

My only regret is not upgrading 4.5 to 4.8

Well. I doubt most ppl will withdraw their fd anyway with such attractive rates and public bank is supposed to be the bank you feel safe. If even public bank is in danger. I think all banks is going to be in danger

I think Public Banks do have stricter requirements. But then if say there is a property crash. We might be in big trouble.

This post has been edited by BrookLes: Mar 14 2023, 12:14 AM

Wow. I thought it is when we open the account.

I can imagine in an actual crisis. Fd will be very difficult to withdraw but casa will not.

That is because when you place into FD, you actually pledge your money to be there in that period where else if you put into casa, you technically did not request your money to be "loaned" out to the bank.

Of course your RM is not going to know all these. You should never depend on your RM to explain things because RM ultimately serve their own bellies and the bank interest.

They really do not know what is going on and will paint a very beautiful picture even when they know.

I had a RM who recommended me to buy oil bonds when oil was having a crisis.

This post has been edited by BrookLes: Mar 23 2023, 10:17 PM

I still do not understand what is the purpose of doing this.
But I guess casa is not used for loans etc. Or a lower percentage is used for loans.

So that means they are willing to pay a higher price for non loan related holdings. Is this a bad sign implying that they dun have enough cash and want to prevent a bank run?

I think I am taking out my FD after it expires in a few months time.

What do you mean by paid upfront. You mean monthly payment? Or they actually paid the entire 4.5 immediately.

Anyway. Public bank also paid 4.8% once. But now they are not paying so high anymore. So i think it's good i guess.

Malaysia banking scenario still not as bad as US and I think there is an insurance policy that covers 250k. So I guess we are ok for now. The probability of what is happening in US happening over here is quite low. Also, I think the other banks would probably loan their monies to those 2 banks as I think Ambank and Public Banks are quite major and if something happen to those 2 banks, there may be a domino effect.

So on one hand it may "happen" but on the other hand, maybe they are just protecting themselves incase something bad happens and they also want to make sure they do not need to rely on other bank help.

Well. That is if your money inside the banks is more then 250k.

But up to 4.25%

So how can be more then 4.25?

They just want to have their cake and eat it.

Malaysian style is always give you the worse rate possible.
In other words dun expect more then 4.25%
But can ask them if they will just give 4.25% no matter what happen. because current FD rate is this rate.

Then this is not good. Especially when someone says that it is very unlikely to go down but up.

Also most fd can already give an at least 4.2.

Why not be a bit more generous and give up to 4.5

This investment does not look so good because there is no upside but there is so much downside.