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only OTC? or e.fd also available?

eFD can

https://www.rhbgroup.com/255/index.html

hi all, just curious if there's fpx fee occurred from other bank if applying FD placement at HLB? How's the fee works ya?

FPX should be free

If OPR changes on 8 July 2021, will this change too (if we have already deposited on 7 July 2021)?

Your rate for FD placed on 7 july will not be affected.

I put rm50k (8-month) OTC a few days ago and they gave me 2.33% (Mont Kiara branch). How come i got more since it should be 2.28%? Maybe they give Red Carpet members more? I did another rm50k at the Taman Desa branch one week before that (around 20/6) and also got 2.33% for 8 months.

I did both before 1 July so maybe the promotional rates have dropped now.

This post has been edited by Garysydney: Jul 3 2021, 03:23 PM

Since u put before 1 July, u need to check the June promotion. The rates in the picture above relates to placement on 1 July onwards

I just relocated to KL from Sydney for my retirement and i transferred a big sum for my retirement expenses back to ringgit for my daily expenses.

I initially had my fd in Maybank but their rates are lousy so i moved it over to Public Bank now and Public Bank gave me their Red Carpet membership telling me i am entitled to a few privileges under their Red Carpet membership (like more favourable interest rates for fd).

Personally i prefer efd but my wife wants the fd to be in joint names (you can't do joint names with efd). I am very reluctant to do OTC at the moment with the current Covid situation but my wife is very insistent that we have the fd in joint names (just in case something happen to me). I am already 59 now so my wife is worried that if i get Covid, i may not survive - i tell her i have left her everything in my will but she still wants the fd to be in joint names

This post has been edited by Garysydney: Jul 4 2021, 06:37 AM

fair request from wifey

both my parents too, since they got joint-name fd with me at PBB, majority of the money is with PBB for convenience-sake; and unforeseen future "complications" when either party is not around.

another way is to place your preferred single-name eFD, but share your Online Banking login details to wife; at least later she can access to it later (emergency-use, not stalking/spying your financial activities ).

I have given all my passwords to my wife (including all my bank accounts in Sydney) but she still insist on doing OTC fd. I only transferred about 20% of my net assets back to KL for my daily expenses so majority of my assets are still invested overseas (mainly on Dow, Nasdaq and these have done very well recently). I don't want to bring too much back to Msia as most of the professional investors are no longer investing in Msia - Msia doesn't look too good now with the high Covid cases now. My overseas investments have gone up about 25% (in ringgit terms) in the last 8 months due to the crazy Dow and Nasdaq bull run so the little i get from my fd interest (in Msia) doesn't really worry me much

I prefer having joint names for FD too and not being able to do that with eFD has been a constant thorn.

Talk to your banker, some Priority/Premier/etc memberships allow you to have minimal contact or hours at the designated centers for OTC placement ie. no need to queue, less waiting time, less crowded, making prior arrangement and go there to just sign. Still have to travel to the bank for OTC though.

Or if the sum is big enough, they might send someone to you instead? Just pondering.

I live in Mont Kiara and Public Bank is just directly across my place. I just cross the road and i have got red carpet membership which is upstairs (take lift to level 2) and it is different from the public area. It has a lounge with tv (cnbc showing when i was there) with drinks served and there are usually two girls serving at the sit-down counters. I have been there twice last week and each time no customer was there. I quite like the lounge as it is quite private.

I also went to Public Bank in Bangsar Baru last week - they gave me priority as well (next teller will attend with red carpet membership). I guess red carpet membership is like semi-private banking. I am not rich enough to get private banking so semi-private banking is good enough for me

Your wife is right. Having it in the will is one thing, getting the money out is another. Ugly stories around that it took ages until finally get the money out.

To keep her happy, i have done rm100k (8 month 2.33) OTC last week.

I told her we will do more OTC when the Covid situation is better. At the moment i have all my efd with Public Bank with terms 1,2 and 3 months (rate is 2.0 for 1 month, 2.1 for 2 months and 2.2 for 3 months).

I have given my wife all my username and passwords with all my banks here and in Australia so she should be able to withdraw them (we have a joint account linked in to my efd) if anything happens to me. Also, my wills are all up to date (i have one will for all my Msian assets and also another will in Sydney for all my Australian assets )

Sometimes i find it very hard to understand women . Give me so much headache

This post has been edited by Garysydney: Jul 4 2021, 08:00 PM

Are you Malaysian or Australian? Based on my lawyer in Malaysia for Malaysians, it is best to have only one will to avoid complications even for assets in abroad. Don't know why, so even for assets in Singapore our will done in Malaysia too. ie not recommended to have 2 different wills in different countries. Exact reasons why I still don't know. Maybe some Malaysia law thing?

Some foreign banks like Citibank and HSBC, or even CIMB, their RM will come to your house for transactions. But now covid maybe they won't.

I am still a Msian citizen with Australian PR.

I have been advised by my lawyer in Sydney to have separate wills as will made overseas may not have legal grounding. As i am leaving everything to my wife in both wills, i think it should not really matter since there is only one beneficiary and the executor of my will is also my wife (beneficiary and executor the same person). Wills only get complex if there are a few beneficiaries - i have no kids so everything goes to my wife.

With only 20% of my net assets in Msia, i probably am not entitled to private banking - i will need to bring all my assets back to Msia to be eligible for private banking .

This post has been edited by Garysydney: Jul 4 2021, 09:32 PM

Can i be your son ? 🥺