previous issue was due to FPX

this promo no need FPX, just draw fund from SA


p/s: made another placement for PiB 18mth @ 4.50% pa. FPX draw fund from RHB. annoying initially as the limit must be set/changed from NEW rhb portal (because RHB FPX already routed to new rhb portal).

This post has been edited by cybpsych: Dec 24 2022, 09:53 AM

Affin very good. But to be Invikta need rm200k right ?

Yup

I'm currently looking at the Ambank 4.5% for 18 months, but next month, I hear the OPR will go up again, so, is putting it in right now still worth it?

the same ol question

1) what if next month no increase? then you wasted x days profit

2) what if increment not significant? can it cover your x days of waiting from now until new promo rate is out? be mindful opr increase date != promo available date (eg ambank) too

imo, if you have fund now, just lock it down now lor. or put short term fd/versa/kdi until good news come out next opr increment (if any) next month.

if ur fund unlocked next month, just wait a bit.

In rising interest rate environment, it's advisable to go on the shorter end of the FD, ie 1 month or 3 month. Therefore you will benefit from rising interest rate further down the road.

Inflation rate in Malaysia is still too high at 4% in November. Fed rate is already 4.5%. Market is expecting rate in US to peak around 5% in 2024.

Malaysia latest OPR is 2.75%.

It's a foregone conclusion that there will be further rate hike in Malaysia in 2024. BNM need to tame inflation and shrink the gap with US Fed rate.

Yep. In the end, not much difference. Short term lose for lower interest rate, If wait, earn back higher rate at later date. BNM has trakc of raising 0.25 everytime. So it's not going to be major jump, especially now US looking at less aggressive interest hike.

Anyone knows if they (Public bank) allow top up of maturity FD to get the promo rate on the counter? Last time they used to allow top up 3-5k on the counter for the FD upon maturity to renew at the promo rate.

Depends on who the manager is in charge.

My wife always renew her term deposits at Mont Kiara and the Indian girl at the branch (we are priority members) always allow my wife to add 1k and treat it as fresh funds. My wife breaks all her term deposits into 50k lots.

I don't know maybe we are regular customers at the branch so we may be treated differently.

Which banks are the ones that you regularly place FD (usually have good promo rates)? I need some suggestion on exploring new banks for FD.

(except for Maybank, CIMB, RHB, Ambank and Bank Rakyat)

U actually meant 2023?

Why exclude MBB, Ambank and BR? Those 3 banks are currently having good promo rate for their respective tenures

Erkk.. Yeah

Just go with whatever bank having best rates. Currently Ambank, PBB, Islamic Bank, MBSB has some good offers.

Won't go with Maybank anymore. Useless bank. Won't even tell you the rates until you have confirmed your deposit! Dem scammer.

MBB online 10 days offer . 3.9% 6mths . 10k min
RHB OTC 3.8% 6mths, 4.0% 12mths, 10k min

Let me further explains. I'm considering opening bank accounts but at the same time i also want to pick banks that have good promo rates regularly. the exception does not mean i don't think they are good. I just wanted opinion other than those.

You can also change limit on the app. App is by default the "new" portal.

Anyway, the rhb online banking is really bad overall. I think i wont be using it if not for the rhb smart account and previously, rhb was doing more fd promo.

The max you can place is 30k from rhb to other bank right? I cant increase the fpx limit pass 30k.

Bank Rakyat still going 4.05 % for 6 months OTC.
Bank Muamalat now at 2.7 % for 1 month online although bank website did not update previous dropdown info of 2.45 % for 1 month. Can try if exceed the maximum allowed at other places like OCBC 360 at 3.1 %, etc.

This post has been edited by oldkiasu: Dec 26 2022, 11:42 PM

Affin, Bank Muamalat and occasionally UOB

I faced this with RHB now.
RHB FPX limit is 30k max. (MBB is 50K)
Duit Now (to Bank Account) is 50K, so if you have MBB, move it there to transit.