Now highest fd is bank Islam 4.25%? Seems if opr drop your remaining period will drop too.

ps: just got reply from BI the rate is fixed at the time you place the fd for the whole duration.

This post has been edited by joeblow: Apr 7 2023, 02:25 PM

Thank you for the info. Looks like I need to pay rhb a visit. FYI now AMBANK also no good deals I think. At least that's what my branch manager told me. Originally planning to go bank islam too...

My fund size is those you cannot transfer online...

Which bank now gives 4.35% for 12 months?

Anyway my rhb Branch manager seems to be clueless about this 4.3% 12 months... Fed up.

Apparently the approval process for rhb is quite lengthy and slow. And not 100% success rate. So for those interested in rhb non published rate promotion, better get approval early. Maybe because of the work involved, the staff not very enthusiastic about it. Extra work for them.

any special conditions? I was in Affin yesterday, no 4.3%... maybe something changed today.

That's what they tell me!

Rhb just replied me only 4.25% 12 months. Same as bank Islam.

Now I am stuck don't know go for mbsb but need travel far to open account or just rhb.

AmBank now no good promotion, same with affin and bank rayat.

Yes paid upon maturity if 12 months. Now I am stuck 4.25% between two banks. The banks I go to belong to a rather "rich" place, maybe that's why they are not lacked of deposits.

Apparently the rhb branch manager had to request from HQ. I am not joining premier but amount FD bigger than 200k. No 4.3%, only max 4.25%.

Ya makes sense since opr decision first week of May. I just learned for bank Islam and rhb, if your maturity falls on weekend or ph, too bad. You will not get interest for those days and the fd placement will not automatically matures on the next working day.

I am in bank Islam now, yes 4.5% 12 months. Only this promotion nothing else, longer duration don't have promotion.

Too many questions. So I will just reply here.

Yes I uplifted one BI FD and another from another bank put into BI. According to the branch manager at least 6 certificates done since morning to 11am. I got 4.5% 12 months no monthly interest. Maybe they change the rules after 1pm? I don't know. I am from JB and branch at JB.

When I was at the other bank, another customer beside me uplifted 2m FD.... lol. The counter manager kept asking them questions.

Another observation is if FD matures on Sat, BI seems to let the maturity settle on Sat. No interest rate for Sat Sun if you take out Mon. However today's placement they gave me maturity 6th May 2025, ie Mon. So let's see if they will give me the additional 1 day interest. Or BI staff can decide which day to mature if it falls on weekend?

Normally when OPR changed for the lower, the banks will revise down the next day or the day itself. It will take them a while to revise upwards when OPR goes up.

Nope as I have written that morning they processed before me min 6 certificates all 4.5% and at least 2 walked into branch asked also got same 4.5%. Maybe the memo from HQ arrived late... Lol

I have the certificate with dates, 4.5% all correct. Why should I ask them? Even online reflects 4.5%.

For those wanting to put in Bank Islam 4.5% 12 months, please take note.

I just asked the branch manager, in theory the promotion is until Dec 2023. But again it may end anytime, especially after quota met. If any.

Now I am thinking if I should convert my USD at a lost to Ringgit and place the FD. Since money in local brokerage in USD doesn't carry interest....

Now I am at bank Islam. 4.5% for 1 year promotion still available. I also just gotten 6 months FD interest at 4.4%, seems likely BI calculation a bit lesser than expected. Don't really know how they calculate...

New and otc

No sir, 6 months at BI I don't know what's the rate. I meant 6 months ago I put in 1.5 years at 4.4% fresh fund otc. After 6 months they pay me interest but it is a little bit short of 4.4% for 6 months...

I better post less to have less misunderstanding...

I suspected so since Feb is short month. Anyway I lazy to go compute and can only trust the bank not to miscalculate.

Thank you for the info. This is an interesting point. Previously when I placed, the maturity date fell on Sat and I can only suck thumb. But today I placed 1 FD and instructed them to make the maturity date on 20th May 2024. Initially they claim it is system generated, but I think can be manually override. Depends on the person who key in the system I think. So yeah please instruct them and check for the dates yourself. For your case I think you either use Rentas or Bank Cheque right?

Today I used my own personal cheque, so I can only get the certificate after cheque clears. But I was promised effective date today and maturity at 20th May. So let's see next week.

I need to ask the branch people to give me some gifts as I have placed almost 50% of all my FDs at Bank Islam. Anyone has received gifts from Bank Islam lately?

This post has been edited by joeblow: May 18 2023, 04:17 PM