Because klibor rate drops.

It is about liquidity and expectation. Previous there was frenzy rate hike across the globe particularly Fed, hence banks were eager to pin down deposit rate to take advantage for rate hike cycle.
But after latest hike of Fed and hint of potential pause in rate hike with sign of economy slow down, the rate hike expectation diminish, instead some predict Fed may even cut rate by year end.

But yesterday PCE number change this expectation dramatically. So next month may see a different scenario. Fed rate hike may not impact directly klibor, but it does put some pressure on other currencies level and liquidity situation.

Let's end here, don't want to deviate too much on FD rate topic. Can always open another topic to discuss because it can be lengthy and many in depth issues affecting interest rate.

This post has been edited by cherroy: May 27 2023, 02:57 PM

For those issues like eg. joint account holder survival clause etc. please open another topic in finance section for further discussion.
Alternative can explore Will topic for discussion. https://forum.lowyat.net/topic/542903/+320 which those issues are discussed before.

This topic is preferably cater for FD promo rate posting and placement issues.
Thank you for the cooperation.

This post has been edited by cherroy: Jul 14 2023, 06:04 PM

Please don't deviate too far away from purely FD rate issue.

For other macro economy matter, one can always create a topic to discuss on it. Thank you.

For more related to debit card matter, like annual charges, please head to debit card thread to avoid deviate too much from FD issue.
https://forum.lowyat.net/topic/2048731/+7740

Thank you.

If wish to discuss details of PIDM, there is dedicated PIDM thread. https://forum.lowyat.net/topic/3113404/+20

This topic is called fixed deposit RATE has its reason.

Thank you.

TIA is not as same as ordinary FD.
Simplicity
FD - Guaranteed
TIA - Non-guaranteed.

There are many PIDM related topics around, just post at existing topics, don't need to repeat post at here.
This thread merely for FD rate issues only

Thank you.