ops forgot to include bank name haha, updated

What is your sentiment on the FD rate movement?

I am a bit reluctant to put 18 months tenure as it will now mature in 2023. Psychologically it is like a 2 year wait.

2.78% 18 mths vs 2.58% 11 mths

This post has been edited by Human Nature: Jul 17 2021, 07:07 PM

For me I would go for 11 mth 2.58% in BR. I think u are referring to BR 11 mth FD not 12 mth FD 2.58%.

Previously I went for 6 mths only, but now going for 11 mths. But I would not go for 18 mths. Just my view.

Yes, referring to the 11 months rate, corrected my mistake. Appreciate your input. Me too, feel that 18 months is a long period now.

My two sens view-

The promo rates will depend on how the banks believe what they need/feel to do to defend their supply of money from FD in the face of less supply of money from salaries put into savings.

The gradual increase in promo rates for the smaller banks to cover the shortfall from savings deposits and job losses will probably be for the short term FD from 1 to 12 months in worsening economic situation.

Another possible bank consideration is building up sufficient supply through competitive promo FD to cover increasing loans if restarts occur with lifting of curbs on business and movement. This is premise on the bank management belief that people will try to earn if government allows. But then this depends whether banks believe that government will encourage business versus hand outs, aid or flip flops.

Perhaps some readers may have ideas or views of how bankers think and act/strategize? Myself, I just place according to what I imagine/guess what particular banks should probably be thinking, actually done or should/might do if I am in their shoes. I try to analyze their particular situations and deduce a reasonable course of action although more information could be of help.

Good point there. And there are also people who need to stop doing FD due to financial issues so the period after the moratorium end will be critical.

Meanwhile I tend to look into 18 mth as I don´t see any positive action from Bank Negara at the meetings in September and November.

But anyway I ignored my feelings during the last months and just mixed the matured BR FDs into 11 and 18 months, so whatever happens I will think I did it right and that is more precious than a few RM interest more or less

I also feel that the OPR will remain throughout this year. I didnt mix, went all out 18m haha and all maturing in Dec 2020 so that is fine. Then I realized I have a gap in June/July 2022 with no maturing FD. So placing 11/12 months make some sense there too for me, as safety net.

If we think like a moneylender chettiar, Ah Long or bank, how exactly does OPR play a part in the scheme of things of demand, repayable good loans/risks and the supply of money to fund business, industrial, consumer short and long term loans? Also how does OPR affect personal investment on recovery opportunities using cash that could be in FD or elsewhere for those who have money?

My belief is that regardless of the OPR, the promo FD rate (not the board or savings rates) for the smaller banks will feel pressure to rise or keep competitive/attractive in fear of losing out for needed supply of funds for operational costs and lending needs for the banks involved, especially if there is an easing of lockdown on economic activities in some areas.

In my case, the focus is on enabling/ensuring a monthly interest income that can be met by monthly payments of interests. Other than that, I also consider/plan the spreading out of FD placements and maturities and tenors to avoid over concentration so as to enable taking up better rates when they should/believed to happen in the future months.

so far the best rate is RHB? 2.5%

From my knowledge, yes for PIDM protected banks

Best rate with PIDM is RHB TDI-i by OTC or FPX at 2.55 % for 15 months, minimum 10k, promo ends 31 August 2021.

Best rates without PIDM at Bank Rakyat OTC at 2.78 % for 18 months, 2.58 % for 11 months, promo ends 31 August 2021.

Lower down without PIDM is Hong Leong TIA-i at 2.55 % for 12 months, and 2.50 % for 6 months.

RHB with PIDM at 2.50 % for 12 months.

Any good deals for 3 months?

HLB 2.35%
PBB 2.2%
Both eFD

Placed my 3 month at HL TIA-i at 2.45 % without PIDM instead of HL FPX at 2.35 % with PIDM. Any good rates for 1 and 2 months?

Rhb efd promo conventional and islamic whats the difference? Notice islamic have commodity muharabah.

Can we withdraw with ease after putting e Fd?
Sorry for long winded question as first timer

simple answer: same

just different way of reinvestment by the bank and how the profit is shared to you

reading reference https://www.rhbgroup.com/files/islamic/depo...S%20CMD%20i.pdf

Calls BR hotline since ytday...not able to go thru until now....

UOB 2.60% for 12-month

condition: open ONE account/Stash account/Lady's savings account via MIGHTY App

https://www.uob.com.my/personal/promotions/...wth.page#offer2

T&C (pg 14) https://www.uob.com.my/web-resources/person...ing-tnc-eng.pdf

finally.. it seem my FD was auto renew for another 11 mth...