Same here, it's a bit lesser than what I calculated. But the FD slip has the amount when it's matured at the end. I wonder if it will tally?

my eTD just auto-renewed. unlikely to receive letter on the same day.

This 6m 4.4% rate is OTC one or auto-renew from previous FD placement?

No contest for 6 months & 12 months FD - Bank Islam sapu all!

New and otc

Nice 👍

Both 6m & 12m
best rate from Bank Islam 💪

Can pick either one of your liking & $$$ objective...
I mean, some May want shorter period... So 6m also good pick...

for bank islam 4.5% 12mths, does it need a big fund, or a min 10k is ok ?
thanks.

Is BI covered by PIDM ?

of course

Minimum placement amount is 10K

What I know...

Only Bank Rakyat & BSN not covered

Others banks all covered one....

BSN actually don't need because gomen guarantee 😁

So, Bank Islam is the King now for 4.5% 12 months..

Last time, my Bank Islam FD fell into weekend like Saturday or Sunday,
Bank Ismal auto renewed my matured FD to board rate according to the original FD tenure.
So when I uplifted on Monday, I lost 1 or 2 days interest.

Please double check the maturity date when place FD in Bank Islam..

This post has been edited by BoomChaCha: May 18 2023, 03:03 PM

No sir, 6 months at BI I don't know what's the rate. I meant 6 months ago I put in 1.5 years at 4.4% fresh fund otc. After 6 months they pay me interest but it is a little bit short of 4.4% for 6 months...

I better post less to have less misunderstanding...

Oh.. Thank you so much Bro Joe for the rocket speed clarification..

The FD interest calculate by days.
But some years have less than 365 days, please google..
So, for the year which less than 365 days, we will earn slightly less interest.

This post has been edited by BoomChaCha: May 18 2023, 03:09 PM

I had just placed BI 12mth 4.5% fd.
Placement date today, 18/5/2023
Maturity date is 20/5/2024 as 18/5/2024 which is a Saturday.

Expected profit(int) is calculated as Placement Amount x 4.5% x 368/365

I had verified calculated profit/int amount printed on the FD cert to be exactly correct.
Extra 3 days is because of Sat & Sun and the fact 2024 is a leap year (29Feb, so another additional day)

Since, this is a OTC placement with certificate, I did asked the teller whether I can redeem this FD at another BI branch on maturity. She say can, redemption can be at another branch, need to bring along the cert.
However, she did mentioned that I can redeem on maturity ONLINE if I choose to.

Thanks so much for the lighting speed clarification
You are number one

Hi,

May I know how long does it take for the whole process?

I suspected so since Feb is short month. Anyway I lazy to go compute and can only trust the bank not to miscalculate.

Thank you for the info. This is an interesting point. Previously when I placed, the maturity date fell on Sat and I can only suck thumb. But today I placed 1 FD and instructed them to make the maturity date on 20th May 2024. Initially they claim it is system generated, but I think can be manually override. Depends on the person who key in the system I think. So yeah please instruct them and check for the dates yourself. For your case I think you either use Rentas or Bank Cheque right?

Today I used my own personal cheque, so I can only get the certificate after cheque clears. But I was promised effective date today and maturity at 20th May. So let's see next week.

I need to ask the branch people to give me some gifts as I have placed almost 50% of all my FDs at Bank Islam. Anyone has received gifts from Bank Islam lately?

This post has been edited by joeblow: May 18 2023, 04:17 PM

hello. long no update. someone reminded.
didnt follow much coz was pursuing BI only lol. let mr know on any promotion to update.

About 40 minutes. I did have an existing Bank Islam Saving A/c with Internet Banking, where I had already transfer the fund over in the morning today.
There is no waiting time as there is no queue before me.