Bank Negara seen cutting key rate again as pandemic persists

Bank Negara Malaysia (BNM) will cut its overnight policy rate (OPR) by at least 25 basis points (bps) to 1.75%, according to seven out of the 12 economists polled, with two of them betting on a bigger 50 bps rate reduction.

https://www.thestar.com.my/business/busines...ndemic-persists

For OCBC 10 months tenure @ 2.6%pa, the TnC says maximum placement is RM50,000 per placement.

Does this refer to 50k per customer or 50k for each online eFD cert?

Any Sifu here can advise?  Thank you 😊

I am at BR now. Crowded

BNM (and ALL central banks) is copying USA FED to keep rate ZERO in the so call effort to spur the economy. It all sound good on paper... but did they really study how it works in the real world? People with $$ getting less interest will MORE likely to keep whatever peanuts they received from their banks deposit and spend even less. It is such CRAP to say lower the rate and make people to spend more and help the economy, such rubbish!! Case in point, did it work in JAPAN? for over 20yrs?? Is it working in EU?? History will tell us who is right... and so far, I think I am right in saying this train of thoughts to FORCE people to spend more with less income from deposit is BS! Show me the prove that people actually spend more in such situation please.

BNM very sad... blindly copying others without doing research. Probably... monkey see monkey do.

In addition, asking people to spend more when they r not getting more from deposit is a recipe for disaster. If we following the westerners way of thinking... keep spending and NOT keep in bank as u suggested, when we r too old to work to earn income, who is going to feed us? the government? PLEASE lah!!!

Make sure you enjoy your money as well, don't save everything. Never know mid life you get severe sickness with tons of money, but gonna die soon without chance to taste good life. Well yes those left will inherit your cash, thanks.

Existing customer with new FD placement can get a gift?
Or only new customer?

just curious..

would BNM cut OPR rate again for the next meeting

would hit 1% by year end??

This morning
AUD/RM 3.03
SGD/RM 3.08
clearly a result of BNM policy of OPR reductions

Affin FD only up to RM250k is protected ?
https://www.affinonline.com/save_on_your_terms

So far in my experience, it has always been +0.1% more if > 50k

The branch I go to used to have coffee but since MCO started, they removed the counter.
I was also observing other customers, seems like none asked for nego rate but instead still trying their luck if the 2.75% promo is still on.
If you managed to get +0.1% in the 'old times' on top of the promo rates then good for you.
I never got it with 2.75% or any other previous promo rate

“Cash is probably the least attractive option in this low-interest rate environment. Just keep enough cash for liquidity needs and invest the rest,” Zeng advised.

Enlightenment please, don't get the point.

Why lose 4k a year?
you mean "hold cash " in hand? (such as put under pillow and milo tin)  

Hi anyone heard of eastspring management investment fund? My gf told me it is like a fd which gives u 2.9%. Better any bank fd?

[SHARING]Are you using fixed deposits properly?

Article link: https://www.stashaway.my/r/using-fixed-depo...DlHUcKsMux99h6o

Just want to check with readers whether old financial advice/rule about savings in Malaysia still valid or outdated?

Got spare cash with no immediate use, planned scheduled payments or emergency backup use:-

A) Put in best FD promotions/investment with highest effective rate in bank which performs well and safely.

B) When the best promo rate is below 2.5 % p.a., the spare cash should be deposited into EPF and not into bank or fund.

Please share whether you have other rule variations or improvements of your own or heard from your elders or other financial guru.

Guys, which bank offers Priority Banking with highest interest rates for FD?