Malaysia is good because we can speak the same language. I went to Sydney in 1981 for Uni and have never been back for more than 2 months/year since then (came back to KL for less than 1 year in 1989 bcos i need to apply for my PR - must leave Aust in those days to apply for PR). I have spent nearly 40 years in Sydney

I came to /k in 2017 because i was unsure about living costs in KL and wanted to know how much it would cost a couple to retire. I have come back to KL since 5 June 2021 and i do a weekly budget on how much i spend - i find cost of living in KL is less than half that of Sydney. Utilities are so much cheaper in KL compared to Sydney. Also because we are Malaysians the food we get is more to our taste - in Sydney we don't get much Msian food there and the price is about 3 times that of KL.

Sorry guys - going out of topic here

This post has been edited by Garysydney: Sep 22 2021, 03:44 PM

My PBB fpx limit is rm100k - maybe you need to call the bank. I checked my Maybank and fpx limit is set at rm100k as well.

If you transfer money out of PBB using Duitnow, the max per transfer is rm30k. When i need to transfer 50k out from PBB, i have to do 2 batches (one for 30k and then another 20k).

Hope it helps.

P's: i am holding a RCB (Red Carpet Banking) card with PBB and also a Maybank Privilege customer - don't know if this affects our limits for online and fpx transfers.

Whole morning trying to withdraw an efd from Public Bank

Getting this error:


Error Code : (E0001.2C.3265916952)

Transaction Unsuccessful!
Unknown error
---------------------------------------------------

Rang customer service. Told they have a problem.

Problems like this causes people to lose confidence in PBB online service. Also no acknowledgement notice when logging in.

I am very keen on short term rates.

MBB has put up their online 1 month rate to 2.45 and 2 months to 2.65 , 3 months 2.7

https://www.maybank2u.com.my/maybank2u/mala...ount_rates.page

I have always preferred stocks over fixed interest. Now with the world markets in turmoil, best to keep in short term cash.

I have always enjoyed high returns with my International stocks (in my whole working life in Sydney) and now feel miserable with returns of low single digit - my portfolio went very negative (kept overseas as my whole 36 years working career has only been in Sydney) since Jan this year loaded with Dow/NASDAQ stocks and this is the first time in many years that i feel miserable. Ringgit dropping also doesn't help me much as Aussie dollar has been dropping as well - Singapore currency is so much more favorable to hold at the moment.

I have only a small ringgit position and i was holding Maybank and PBB shares before this but now with Bursa undergoing negative downward pressure, best to put in shorter positions as i am hoping to jump back to stocks when the sky becomes a little brighter

My fd in Pbb and Mbb is only around 600k so very lazy to chase higher rate (if offered 1% lower also i don't mind). My wife and younger sisters have more than me (about 1.35mil for both of them) and they also only use Pbb (Mont Kiara) because they are also lazy to go other banks (we live together). Theirs usually mature in 300k lots while mine is all over the place (about 150k maturing each time).

Pbb and Mbb is just across the road for us in Mont Kiara so it is very convenient for us. I told my wife to move some fds to CIMB because my wife has 300k that has just matured last Thurs. My wife doesn't care much about losing interest because she has been too comfortable in her life (she worked until she was 50 in Sydney but i worked till 59 - no kids as well) and i am the one who keep pushing her to go renew her fd. She only will do OTC fd (she doesn't trust eFD).

I am more concerned about my investments in Sydney because that is the one that will carry me/wife to my deathbed. I am always worried about not having enough money to live on. I am very frugal and don't usually spend much.

I have never put money in fd as i prefer stocks (which is why my portfolio in Sydney took a huge dive since Jan) so i now dwelve into fixed interest for a short while.

My wife and her younger sisters will only put money in fd because they don't believe in stocks (i keep telling them to buy Maybank for their 58c/yr dividend but they don't want to listen to me. I suspect they think they will never need to use that money because there are people looking after their living costs. My wife is 61 next brithday and her sister 59 next birthday.

I am the one with the pressure because i am paying for all living costs so i must make sure i have enough to last me until i conk off. I am lucky in life i inherited 2 properties from my mum (one unit in Sydney and a terrace house in Bangsar Baru) but i am still quite scared i may not have enough. I keep telling my wife to be more frugal.

I don't care how much money i have when i die but i want to make sure i die without having to struggle financially. If i live in Sydney, i probably will not worry because health costs and govt pension is available if you don't have enough money. In Malaysia no money when old means very heartbreaking (for me personally). Maybe i am very insecure but that's how i am born like.

Sorry guys. Out of topic!

This post has been edited by Garysydney: Nov 6 2022, 04:53 PM

No - lah.

I think given a higher rate, people will always try to go get the higher rate.

However sometimes a higher rate may mean a higher-than-normal amount so that means that your funds must be available within that time period. A lot of us have fd that matures at different times and there are some who purposely stagger their fd so that they don't mature at the same time. Some of us prefer to break them in lots of around 40k-50k so that if we need some funds, we don't have to withdraw prematurely.

Most times banks want you to lock up your funds for longer so they offer a higher rate but if you the funds earlier, you will need to withdraw prematurely. I know some relatives who will never go more than 6 months.

So it is not that the 1% more is not important but how comfortable we feel with the restraints for getting the extra 1%. It will not be correct to suggest just because we have a 7-figure fd, we will not bother about an extra 0.1% more in interest. It is the requirements we have to fulfill to get the 0.1% more. A lot of times our 'style' of investing in fd (some refer long, some prefer short, etc) cannot meet the requirements.

Pbb has increased their eFD rate (via FPX)

3 months 3.05
6 months 3.35
9 months 3.55
12 months 3.75

Still below other banks but at least increasing slowly.

I am their Red Carpet member and i went to Pbb yesterday- rates for Red carpet are the same as the eFD (fpx). The only difference is you can put a bigger amount for OTC fd as there is a limit for fpx transfer (for eFD).

Is there no penalty for uplifting early for eFD?

Do we only forgo the interest if we uplift early?

My 78 y.o. sister passed away in April and i had a few joint fd (OTC) that i was safe-keeping for her in Pbb. Some had maturity dated 6 months with some 12 months away. Fearing any problems in future, i withdrew and had quite a lot of taken off the principal.

This post has been edited by Garysydney: Nov 10 2022, 09:40 AM

I just tried with Pbb uplift and no penalty - very good to know this as i put in a couple of hundred thousand just before the new rates came out

Thank you

Yes. Yes.

They already credited some interest before.

At that time, i didn't check because i was helping with late sister getting all her money out because we didn't know if she left a will or not. I found her will after 2 months while cleaning her room.



Thank you.

At that time, i had so many issues to sort out (death very sudden) so i didn't ask why they deduct some principal. I have never taken out prematurely so i thought this is quite normal.

Lucky i found out today (thanks to you) we can take eFD out without penalty.

I have never needed to withdraw prematurely so i have no experience with it.

Due to the rush to get money out of my sister's acct (friends were all advising us to withdraw as soon as possible otherwise we will never see the money again), i was happy to pay whatever penalty at that time.

My sister passed away in early April and i have not dared to break my fd since. It was good to learn today from this thread that normally no principal is deducted - i started braking all the eFD in Pbb today which i have put in during the last 45 days. Cannot do too much as i can only transfer out 50k (per acct) per day. I got 2 online accts (me and wife) so can only transfer 100k per day.

I withdrew a few of my 12m Pbb eFD this morning (put in 40 days ago) with 3.05% vs today's 3.75%.

No penalty so far. Doing more tomorrow. Cannot transfer more than 100k per day (2 accts) for me.

Yes. I am moving most of my fd to 6 month terms now.

I am beginning to feel that being locked in for 12 months may not be advisable as interest rates are still rising.

However with what happened last night with the world markets, US may not be so aggressive in raising rates from now as their cpi (inflation) is slightly lower than predicted. Stock investors were so happy last night, they sent the Dow up 1,200 pts and could be a sign that US interest rates rises may taper off sooner than later.

Thank you for your calculation.

I am very new in the fd game so have a lot to learn. Good to have a lot of sifus to guide me. Got a bit of money but not much experience

Better than Pbb lah.

Pbb:

3m 3.05
6m 3.35
9m 3.55
12m 3.75