I think the banks are now more careful which is not a bad thing.
I received an enquiry from SCB asking why I rec'd money from my own account from another bank and asking where the funds origin. They also asked why I did early settlement of my loan? Asked about my annual income, employer's name...etc.

I have been with them for more than 20 years.....

Battle for deposits forecast to intensify
Thursday, 07 Sep 2023


RHB Research said that with digital banks poised to launch operations in the months ahead, it will be interesting to note how conventional banks react to the attractive deposit rates these new entities are expected to offer.

PETALING JAYA: As competition for deposits intensifies in the months ahead, one research house has bucked the trend by downgrading its outlook on the banking sector. It believes that competition for deposits could intensify towards year-end although pressure on net interest margins (NIMs) and operating expenditure may abate.

RHB Research commented that overall, banks have recorded decent second-quarter (2Q23) results, but they may not see a repeat of the hefty income in the first half of the year (1H23) from treasury and markets.

It said that with digital banks poised to launch operations in the months ahead – as exemplified by GX Bank (GXB) which began operations on Sept 1 – it will be interesting to note how conventional banks react to the attractive deposit rates these new entities are expected to offer.

Article in TheStar today....so maybe gpt chance for FD rates to go up....;o))

Ya, otherwise everyone will start withdrawing.....

Currently no promotion

Did my FD today and was informed that today is the last day. The staff are friendly but they are slow....;o))

5 years is a loong tine....better put in EPF

Its normal that after maturity, it will go to normal rates....Just withdraw them and find new placement that suits you

What are the T&C? 4% for 12 mths sound like a gem now

Affin Bank

eFD/eTD-i Promotion
Promotion Period: 8 April 2024 to 30 April 2024

Promotional Rate:
a. 3 months @ 3.55% p.a.
b. 4 months @ 3.60% p.a.
c. 6 months @ 3.70% p.a.
d. 9 months @ 3.75% p.a.
e. 10 months @ 3.78% p.a.
f. 12 months @ 3.60% p.a.

Minimum Placement Amount for Each Certificate RM10,000
Maximum Placement Amount for Each Certificate RM200,000

Terms and Conditions Apply.
eFD and eTD-i are protected by PIDM up to RM250,000 for each depositor.

Is this OTC? I tried to place via online but did not see these rates...

Yes, this seem to be a common thing with BI. I also withdrew mine to my BI Savings AC and went to the BI today and place it OTC @ 4% for 12mths. Check with them and they say can't do online. Not sure why they make it so complicated.... ;o))

Currently no promo...am also waiting

You unfortunately can't

It looks like the FD rates will remain low....the BEST18 might not look best for now but that might change months down the line...

Agree!

What I mean is that if you don't take the 3.8% now, you might not get it later. I am in line with you i.e. FD interest rate will remain low due to the reasons you have mentioned.

Does Bank Muamalat accept check? Do you need to open savings account or apply debit card?

Thanks!

There is no need to open a Qard savings account

It all depends whether you will need the funds or not. I paid off my home loan 2 years ago as I have access cash.