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This post has been edited by joeblow: Jan 28 2023, 02:23 PM

I am tempted to try this coming Mon... Even though more than 10 days but I got another big FD coming up... might as well try. 4.3% one year vs 4.8% two years. I will go apply basic savings account and ask the branch manager come Monday.

Yes of course you can.

For old citibank customers, we can get 4.15% even if not fresh fund. You can use this info to request for 4.15% 12 months.

BR Branch in JB also no news. HQ no reply or the branch doesn't want to do it.

Hi all, I have big fd up this coming week. Now highest FD is ambank 4.3% 12 months with 10k in casa? Or cimb TIA 4. 3% 12 months?

Nothing more than 4.3% right?

Actually I have invested in TIA before and no issues thus far. 19th Jan also placed one big FD due to the expiry of PB 4.8% and no time then to explore BR one.

Any incidents of CIMB TIA not honouring the agreed rate? The branch manager assured me none so far.

Got AMBANK TIA 4.37%?

FYI, I checked with CIMB, Affin, Citibank and Ambank for the best rates for high FD amount OTC Fresh Fund. Need to send HQ for approval. High is high 6 digits to 7 digits, my point is no harm just ask.

Only Affin and Ambank can offer above their promotion rate. Affin best is 4.32% for 12 and 18 months. Ambank (two bundles type) both gives effective rate of 4.4%. Danger is CASA rate might change. Ambank offers either 50% FD of 8.5% monthly interest and 50% CASA in Basic Savings Account of 0.3%. Another bundle is 50% FD plus this new M Power or Star account (I did not take this one) that works out to be 4.4% too. So if CASA rate change, then you won't get the amount. But at least no BS 10k requirement. Their AMBANK BSA got two types, fee and non fee. This promotion they said must be fee. RM12 for ATM card and yearly RM8 charges.

I am Invikta customer and the amount I put in more than qualifies for Invikta. But I think if you can place high 6 digits and your branch manager willing to help, then should be ok.

Why would I ask for 8 digits when I don't have 8 digits to put in. You trying to be funny? Which bank will believe you have 8 digits, unless you count after the decimal point!

My point of just ask is even if you have lower amount you can ask. No harm asking. Understand? I can get effective 4.4% rate from AMBank and in the end I placed with AMBank.

12 months. Bundle deal. I done more checking, Basic Savings account apparently based on rate online is 0.25% if less than rm500k... So for the first rm500k 0.25% not 0.3%. Meaning effective rate might be between 4.38% to 4.4%. Not sure if the earmarked BSA 50% portion will get 0.3% or rate based on online. Still better than 4.3% OTC pure FD with a nonsense 10k requirement in BSA.

A couple of points made by folks here on future OPR directions. Personally I don't know if up or down. Below is a Kenanga latest research note. FYI just sharing...

BNM is likely done with its normalisation cycle as inflation has peaked, while external risks to growth heightened
− On the monetary policy front, barring any unforeseen shocks or major policy shifts, especially on the fiscal side, the BNM is expected to hold the overnight policy rate (OPR) unchanged at 2.75% for the rest of the year. However, moving forward, the possibility of a rate change depends mainly on the inflation trend and growth outlook.
− USDMYR year-end forecast (4.11; 2022: 4.40): after appreciating to as strong as 4.25 (Feb 2) against the USD, the ringgit whipsawed back to above the 4.30 level due to the Fed's hawkish tone after the release of the surprisingly strong US non-farm payroll data of 517.0k (Dec: 260.0k; consensus: 185.0k). This weakening momentum is expected to continue in the next few months as the Fed may continue to hike interest rate until at least 5.00% while the BNM may stop short at 2.75%. However, the local note may gather strength in 2H23 due to a potential Fed pivot amid rising recession risk and further appreciation of the yuan amid its safe-haven appeal.

As a no loan net cash person, I would sure hope the FD rate goes up and up higher. But politics situation means our OPR might not go up too fast. A weaker ringgit is actually good for our export oriented market.

For US side, if you believe Fed is truly independant like our BNM, then rates should go up to combat inflation. And China now economy going full steam after no more lockdown means more demand for resources. However US election year next year, so...

Happy finding your best deal folks!

My original CASA just several hundred short of 10k, but they refuse to waive this 10k requirement too. So i just walked out intending to go place in CIMB or Affin until the branch manager offered me the bundle deal. I don't know what's their deal with 10k considering it is not locked in and you can literally withdraw after you place the FD.

Unfortunately this is Malaysia. A lot of times both customers and branch people do not know the T&Cs. If you really go read the T&Cs you might get a shock...

Next OPR coming soon.... 08 & 09 Mar 2023 (Wednesday & Thursday).

I believe they will not raise the OPR rate. But let's see how.

Hmm.... my portfolio is almost half half. Half in FD and half in stocks/bond.


Bank Islam.

Campaign period
(3rd March - 31st Dec 2023)

TDT EXTRA
12 month - 4.25%

Seems like now AMBank still highest at 4.3%.

No link. Given by branch manager.

Banks typically revise very fast down if opr goes down but will take a while to up when opr up. Good luck to you.

Just now AmBank manager sent me Islamic FD 11 months 4.5%.I don't have the details and last until end of March. My funds only available April hence never ask much the conditions. Please go ask AmBank. Back in Feb my FD 7 digits not even 4.4%...

Seems AmBank desperate for money now, if amount is big they can always customize for you.

Sorry I don't have money to bank in so not asking for more details. And I am also surprised since last month best FD rate only 4.3x%. Either your branch doesn't have the latest info or my AMBank Branch Manager got it wrong. For what's worth here's the rate without knowing the exact terms and conditions.

3/4 TO 7/4

FD Promotion (Conventional)
3mths -4.15%
6mths -4.30%
12mths -4.30%

Islamic
4mths -4.25%
11mths-4.50%

One of JB branches. Sorry cannot be more specific as I don't know if this promotion is widely available to all. Don't want to get the branch into trouble. Might be a branch specific or the manager made a mistake. I am just sharing what they posted me. If I have money, I will definitely bank in to test if true. No harm to call AMBank to ask about Islamic FD 4.5% 11 months and tell them this is fresh from oven promotion.

Sorry guys. Please ignore the above promotion from AMBANK. I just checked and it is not straight simple FD. It is one of those FDs like last time, need HQ approval. Need to sign earmarked form to lock in the funds in savings account (don't know if can early withdrawal) and % of savings/FD unknown. Meaning it is for big funds/need approval. Nett result you can get the above rates, but I don't know if in the end can get. I signed up previously in Feb for 12 months 4.37% I think, so end of 12 months I know roughly if it is 4.37%.

So this one may be branch specific too, as the manager/RM needs to apply. Too complicated, please just go for simple 4.3% with CASA 10k if still available.

ps: just got updated. This campaign is for their year end closing only, even more confusing so no point. I think the nett result is not 4.5%. Please ignore my post and sorry for the confusion.

This post has been edited by joeblow: Mar 9 2023, 08:03 PM

So in the end what's the effective FD rate?

I never know the promotion I informed can be so complicated with several versions... the FD people at AMBank getting really creative and pulling all stops to buff up their cash position before their year end...