Thus far Ambank still has the best rate

It is actually BR

RHB got any offer ?

thanks for the info. Just in time for me

can pbb tt money to bsn
then bsn fpx money back to pbb to get the promo fd ka.
will it trigger anything?

Should be no issue.

Different risk, not comparable.
BR is not conventional bank, not protected by PIDM.
Your money put to them are placed out as higher risk PL, unlike most retail banks which have decent portion of collateralised loans

Also, BR has no eFD function and need to do OTC
Who wants to queue ar branches during FMCO?
Life is more important than that extra 0.2% on FD

This post has been edited by Kyan0411: Jun 29 2021, 10:18 AM

I was merely responding to your earlier statement whereby you just compared the highest rate

This post has been edited by Human Nature: Jun 29 2021, 10:33 AM

Hi guys, I plan to combine some of my matured FDs and pool into 1 FD account at Bank Rakyat. May I know how important is PIDM?

Is it still advisable to separate the funds into different FDs at different banks to ensure it is PIDM protected? Or it doesn't really matter at all?

Reason to pool together in BR is for convenience as I have to withdraw and transfer 4 different FDs at 4 different banks. So if I pool together, I only need to uplift one combined FD, and enjoy the highest rate available. Please advise, thank you.

how important is RM250k ?

In these critical times with low interest rates and low margins for the banks, loan moratorium and more and more non-performing loans it is more advisable than ever before.

Certainly one cannot leave out the attractive rates from BR, but rule number 1 is not to put all eggs in one basket.

Looking back, has depositors ever lost their money in fd or saving a/c before due to banks having financial problem?... Like during Asia financial crisis or any sort of that?

I recall yes, during the Ko-operasi Bank in late 80's or early 90's
The FD rate at that time is super high like 8%+
I recall govt step in, and repayment back to consumers in installments over years.

Bank Rakyat: Lost RM65 Mil, Malpractices by MD and Officers

By 1975, Bank Rakyat, the cooperative bank which was established in 1954, was insolvent.
It had accumulated losses of RM65 million. Suspicions regarding the financial standing of the Bank were raised when at its 19th Annual General Meeting, it tabled its 1973 and 1974 accounts, both of which did not have the prior approval of the Registrar General of Cooperatives.
The 1973 and 1974 accounts showed that the Bank’s performance was profitable when in fact the Bank suffered substantial losses for those years.

The Registrar General of Cooperatives then conducted an enquiry into the Bank and at the same time the police also investigated its affairs.
Anticipating a run on the bank, the Government came up with a guarantee that deposits in the bank were safe.

https://consumer.org.my/history-of-cooperative-scandals/

cooperatives scandals were common during the 80's....

All the time banks collapse all around the world. Even or especially in high developed countries. Recently in Austria a bank broke, people only got the local PIDM of RM 500´000, all higher savings lost. Same happened a few years before with another bank. Germany had a bank collapse this year, samesame. Government did not care or involve at all. If one thinks we in Malaysia live in a different world, good luck!

Moratorium won’t hurt banks’ earnings badly
By DALJIT DHESI, BANKING
Wednesday, 30 Jun 2021

https://www.thestar.com.my/business/busines...-earnings-badly

i think malaysia is not the same as them,...malaysia can come up with a special purpose vehicle/entity that take up those NPL/toxic debts of a problem entity to make the BOOK looks good.
it had done that before

depends on Bank.

BSN gov got plotek.
MBB, CIMB Khazanah will plotek

HLB and PBB, maybe not. though PBB is as big as MBB

Perbadanan Insurans Deposit Malaysia (PIDM) Bill 2010 was passed by the Parliament and came into operation on 31 December 2010.
The new bill provides for enhanced deposit insurance coverage for the protection of financial consumers, with an increased deposit insurance limit of RM250,000 per depositor per member bank.
This will protect 99% of retail depositors in full. In addition, foreign currency deposits will now also be covered under the deposit insurance system.

https://www.bnm.gov.my/-/implementation-of-...-pidm-bill-2010

Want to ask you all, any one experience this before?
Place E-FD via maybank2u, fund from Public bank.
Money deducted from public bank, but not reflected in maybank.
and the money gone....
called maybank, they just push the balll to public bank.... since is FPX, public cant do anything....

anyone know any fastest way to get back the money?