Yes. A lot of potential may be turned off, but probably can become Priority customer if put in a big enough principal. Some banks do this kind of discrimination in their promo offers, and not everyone can qualify. Even got promo offer by invitation only!!

Asked AmBank ABM, CASA need to have RM10k. But no tie up, can release later.

Oh wow, are there any minimum balance requirements for the 12 months tenure one?

Not much info yet. Need to see T&C

Thanks, because i saw these rate by maybank and is quite attractive

7 July 2022
1 Week 2 Months 3 Months 4 Months 5 Months 6 Months
USD 2.10 2.62 2.73 2.87 3.00 3.20
GBP 1.48 1.58 1.80 1.90 2.10 2.30
AUD 1.75 2.05 2.30 2.53 2.67 2.85
HKD 0.85 1.20 1.65 1.75 2.00 2.35
JPY 0.06 0.06 0.06 0.06 0.06 0.07
CAD 1.90 2.10 2.05 2.50 2.60 2.75
NZD 2.30 2.45 2.75 2.90 3.10 3.30
CHF 0.06 0.06 0.06 0.06 0.06 0.07
EUR 0.06 0.06 0.06 0.00 0.00 0.00
SGD 0.00 0.00 0.00 0.08 0.25 0.35
MYR 2.51 2.68 2.71 2.76 2.80 2.85

HLB 7.7 eFD Promo

3 months - 2.4% p.a.
6 months - 2.5% p.a.
12 months - 3.0% p.a.

It says ONLY 7.7. JOM!!

brand new day..... any updates from banks... best right now is ambank 3.2% for 12 mths..... pls update if anyone has latest rates...
Btw, sept will have another hike.... will u all put in for 12 mths now? or wait ....

The promo rate 3.00%p.a. for 12mths remain the same.

Just to share, I manage to place 2 (1 conventional & 1 Islamic), I guess they did not control on this.

nice

i only placed hlb efd-i, lumpsum from PBB since it can go higher than the usual rm30k/50k FPX limit (pbb FPX limit is RM100k).

earlier was thinking to go 50% placement now, then remaining 50% in the evening (hoping for revised rate! haha)

Don't think will revised in the same day, later the morning placement customer will make noise

I didn't place much, as we know for sure the next promo rate will increase, just how soon only.

CONGRATULATIONS BNM!, you decided to push Ringgit lower and make ALL malaysians poorer. Thank You!

is this for walk in otc only ?

TIME is $$, so don't wait. But, you should divide up your cash holdings into at least 4 portions and do FD placement every time BNM hikes. Y 4? because most mkts players think OPR will go to 3% by middle of next yr, meaning like by May or June 2023. From 2% to 3%, if BNM hike 0.25% every time when they hike, means need to do it 4 times. When June comes around next yr, the FD u had place matures and u can go another round again. Just my 2 cents. Take care.

On Ambank, i confirm that 10k placement to CASA can be withdrawn next day

Need fresh fund or renewal can?

Yes, 👍👍👍 bravo bnm.
Increasing higher opr will increase more of the cost of servicing the 1.38 trillions worth of household debts.... (Excludes business debts)
For i think they realised opr changes will not reverse the trend of depreciating of MYR against USD much...
If opr up, then abit positives in short term maybe, but not in the longer duration trend.
So "savers of MYR" beware.... Unless you hv significant amount in it to offset the depreciating myr.

This post has been edited by MUM: Jul 7 2022, 10:51 AM


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Fresh

The trend may not reverse, but the speed at which it depreciate will. Take a look at Turkey. The gov does not allow its central bank to hike rates even with the wild inflation going on. The results? Went from 1 usd to 3.54 lira in 2017 to now 17.22 lira (486% in 5years). It went from 1.48 in 2006 to 3.54 in 2017 (239% in 11years) I rest my case and the data speak for themselves.

Also, our Ringgit depreciation accelerated after the 1MDB scandal. Politics matters. If the gov continue the same course it is on, Ringgit is hopeless. Only the well connected will prosper and the rest just get more poor.

From Affin RM

Affin Bank FD promotion rate FOR INVIKTA CUSTOMER:

3 months 2.63%p.a.
6 months 2.88%p.a.
9 months 2.90%p.a.
12 months 3.15%p.a.

Minimum placement amount RM50K

Applicable to both new and existing funds

Promotion period from 7 July 2022 until further notice

*rate subject to changes from time to time, will update again if there is any

*Invikta FD rate only applicable placement over the counter, not applicable for online FD placement


Affin Bank FD promotion rate:

3 months 2.53%p.a.
6 months 2.78%p.a.
9 months 2.80%p.a.
12 months 3.10%p.a.

Minimum placement amount RM10K

Promotion period from 7 July 2022 until further notice

*rate subject to changes from time to time, will update again if there is any

Look at the trend of MYR vs USD and the movement of opr over the years....

If you looked at the chart, MYR started depreciating somewhere in 2011,...while
"In 2015, a document leak reported in The Edge, Sarawak Report, and The Wall Street Journal showed that Malaysia's then-Prime Minister Najib Razak had channeled over RM 2.67 billion (approximately US$700 million) into his personal bank accounts from 1Malaysia Development Berhad (1MDB), "
https://en.m.wikipedia.org/wiki/1Malaysia_D..._Berhad_scandal

Thus MYR vs usd should be depreciating years before not after the 1mdb scandal being exposed.

Also, cannot compare Turkey to Malaysia, for
Does malaysia has wild inflation going on? &
Turkey does not hv our kwsp.... Which Btw has positives inflows

This post has been edited by MUM: Jul 7 2022, 11:14 AM