This is my personal opinion.
Central bank change the OPR to influence the money supply in the market.
Economic will grow with the increase in money supply in the market.
OPR will be reduced if the country is facing cost pushed inflation.

With zero percent GST, the inflation rate will be reduced. Bank Negara chief may be changed due to the land purchased to pay 1MDB debt. Daim was saying good GDP number but the people didnt enjoy the outcome of economic growth.

With the new government, new ministers etc, I foresee the OPR will be reduced since there is no mounting pressure on inflation rate. Removal of HSR and other costly mega projects needs to be balanced off with increase in consumptions to stimulate the economic growth. Reducing OPR and providing monetary aids replacing BR1M will help to increase money supply in the market. The multiplier effect will help to increase the revenues while the cost cutting measures will ensure the debt is contained and reduced gradually.

The OPR reduction may not come so soon as the new government needs time to monitor the economy.

This post has been edited by gsc: Jun 5 2018, 02:58 PM

As informed by Am bank Penang 4.4% for 12 months and other rates remain till 8 June

Yes. The interest may go down. CIMB does not pay interest on weekends and public holidays provided you go back to the branch you made the FD placement.

HL bank is the official agent for ASNB. Currently they have FD bundled with ASNB promotion. FD rate 8.88% for two months. 1:2 ratio. 1 for ASNB. Take note the ASNB sales commision is 5%.

What is the current promo rate for UOB, 12 months FD? Tq

Tq. Will withdraw today and move to Am....4.38%

Am 4.38% for fresh fund till 10/8. No change from last week.
Which Am branch gives 4.4%?

Bank does not has the money. Banks use your FD to lend to borrowers. Fresh funds help to strengthen banks sources of funds.
Similar to FD promo., most banks FD promo are over the counter with the objectives of persuading customers to buy their other products.

CIMB allowed me to renew at promo rate which I was surprised they didnt insist on fresh fund

With GDP going down in next quarter, Malaysia economic will technically under recession. BNM will reduce OPR to encourage more private spending as the government spending is cut due to the 1 trillions debt left over by BN.

This post has been edited by gsc: Aug 21 2018, 06:28 PM

Just placed 3 months FD at Penang public bank. Need to place fresh fund RM5000 in saving account. Then can place three months FD at 5% (fresh fund as well.)

This post has been edited by gsc: Aug 21 2018, 06:27 PM

yes. Need the FD cert irrespective which Am branch

I just made it the last day Am offer 4.4% and the next few days saw CIMB 6 + 3 offer....

Is today last day for CIMB 6+3% promotion? Tq

Is today last day for cimb bundle promotion? Tq

This is what I thought I saw somewhere stated 1 Nov. Just now went to the bank, the customer service counter said today last day.

Cimb has extended 6+3 for another month. Ratio now is 25:75. Max per customer is 500k

Am Bank till 23/12

3 mth 4 %
6 mth 4.2%
12 mth 4.3%

Senior savers
3 mth 4.5%
6 mth 4.4%

PBB did offer 3 months for 5% this year

How do you managed to open 2 PCA accounts? One single name and one joint names?

I made the 6% + 3% FD placement and opened the PCA account.

For 6% + 3% promo, effective rate is 4.77% for the minimum placement. With RM188 added in for RM10k placement, effective rate is close to 4.9%

This post has been edited by gsc: Dec 24 2018, 04:50 AM

It was a pure FD offered by public bank. Not bundle with unit trust.

CIMB is misleading customer. The website didnt mention first 20K in PCA get no interest. Thus effective rate is 4.77%. It is 5.1% if your deposit is > 2 mill..

6 mth 4.4% is for senior saver.

In fact all AM promo rates unchanged till 30/12