Extended till end of Oct. it seems either it is Am bank marketing tactics to promo weekly
or the target is not met.
Obviously Am bank wants to ensure those placed two years ago but maturing now continue with Am bank.

Brother can you please PM me as well, thank you.

Bank offers 3.99% loan rate for two years. Simple interest calculation. Was thinking worth to take it up or not.

Place your 5k into the 2k accounts since you say can enjoy 4% interest.

Looking at the four major macroeconomic indicators. GDP is growing but the inflation rate is going up. Exchange rate improves slightly but it is still bad. Unemployment rate is going up. One positive and three negative.
Increase OPR will help to reduce the inflation rate but it will slow down the GDP growth.
My guess is Najib will want to have a sustaining economic growth but controlled inflation. The OPR will either retain till end of year or will be increased slightly to avoid too much money circulating in the market. Banks FD promo will start in November after budget announcement.

Am bank targets those existing depositors whose 4.6% FD mature this and next month. They even allowed 1k or no top up for matured FD.
UOB is offering same 4.2% rate with monthly interest. Am bank monthly interest applies to senior citizen only.

Am FD matured yesterday. Today withdraw and request on the one day interest. Counter girl said must go back to the branch where FD was placed.
It seems that Am bank practises what public bank was doing, need customer request otherwise will not be paid.

I do not want to go back to the branch. The lady behind the counter say will email to the branch to request one day FD interest. Will monitor to see will the bank pay the interest.
Anyone has similar experience?

Am bank is trying to retain existing customers. Promo extends to 6/11.

FD promo til Monday,6/11/2017

6M @ 4%
12M @ 4.20%
24M @ 4.25%
60M @ 4.35%

Min RM10K
renew / + top up fresh fund

Thanks for the info. I need to watch out too on those branches that open on weekends.

CIMB money multiplier applies to selected customers only.I did call CIMB earlier and was told need to wait for their calls.

The one day interest should base on 4.6% not the board rate. Which branch did you go to?

The PIC replied will be based on last FD rate which 4.6%. Will check my bank accounts when they have credited.

Am bank is playing wolf is coming. The 4.2% and others rates are extended to 13 Nov. Only 24 months FD is removed

My another FD matured on 4 Nov which is on Saturday. Today went to withdraw it and the staff was trying to get me renewed it. Didn't renew as I prefer to invest in property at this moment. The bank paid me the weekend interest based on 4.6% not board rate. Your back dated FD was based on 4.2%, short of 0.4%, about RM1.10 per day for a principal of 100k.

With the recent budget 2018 announcement, my interpretation is government is stressing on GDP growth.

GDP is comprised of consumer spending + investment + government spending + net export.
Lower individual income tax, government servants bonus are encouraging consumer spending.
High speed rail and other infrastructure construction are government spending.

GDP growth is stressed over controlled inflation rate. OPR will be increased only when BNM wants to tighten the circulation of money which is against the national budget of encouraging spending.
US Fed is not likely to increase the interest rate for this year and hence not much concern on the flow back of hot money.

Hence with current scenario, I dont think BNM will increase OPR for the next 6 months unless we are facing serious cost push inflation and inflation rate is getting out of control.

Banks that need fund for lending will probably have their own promotion. The recent Am bank strategy to retain those matured FD placed 2 years ago is an example of individual bank strategy.

Thanks for the link. As I have mentioned earlier in my post, I don't think BNM will raise the OPR for the next 6 months...now till Q1 2018. The inflation rate and GDP are the two key determinant factors on OPR trend within Malaysia economy.Global factors will be US economy and Fed monetary policy, oil prices, North Korea military threat, China regional economy policy (China Dream) etc

UOB promo 4.2% for 12 months, monthly interest, offer till end of year.

How do banks pay you the monthly interest if without CASA?

If it is added on to principal then wouldnt it be compouded interest?

If the monthly interest is added on to principal and given to you only on maturity, do you still call it monthly interest?

From other banks via FPX...any bank or only certain banks?

I have done before with Public bank. Was thinking of Citi bank. Thanks for your reply.

It has an "i" next to it. It said interest credited onto principal and another is monthly interest. It does not allow to choose.

I placed it under my Islamic accounts. Usually HL bank islamic accounts provide monthly interest. Anyway, not much difference as the FD max amount is only 30k. I dont have MBB accounts for multiple placement

Yes. I did that in Penang

For those having FD with CIMB

http://www.themalaymailonline.com/malaysia...PbAhuL7JPp9p.99