Depends on what you confirmed with the staff that opened your account. For me I only open when I confirmed no charges for the account and also no charges for the issue of debit card. Then I just write in email to complain why charge me when I double confirmed no charges. Took a long while for them to cancel the charge. RHB one still pending... but I am no more chasing.

think mine is unlimited although i never use to withdraw even 1 time.

Opened FD with normal promo rate. No special rate given


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how much is the "normal" Promo rate given?

Until further notice as informed by the branch manager
3m - 3.9%
6m - 4.00%
12m - 4.30%
15m - 4.35%

MBSB?
Lots of us here got auto renew 6 mths for 4.25% just last week....Loyalty promo rates???

This post has been edited by CommodoreAmiga: May 24 2023, 08:02 PM

Huh?

6m only 4%???

Those auto-renew gotten 4.25%

Good luck attracting new $$$

Existing customers might keep 🙏

Next round auto renew 4.5%....🙏🙏🙏

If OPR goes up another time 😔

This current one also so much backlash.... Doubt BNM would increase another round????

FD also not very interesting rate.... Almost same like previously... Minor difference only....

Ringgit is the second worst performing currency
BNM is weak in raising OPR
Ringgit is beyond rescue
Our FD rate are supposed to be higher than USD to attract foreign investor

i never faham economics topic
why FD rate higher can attract foreign investor?

Imagine if Singapore FD rates now is 10%. Confirmed everyone here will take their money and run there.

Singapore FD rate soften also for the past 2 mths from 4.0 to 3.5.

GBP FD also down from 5.4 to 4.8 to now 4.3. USD FD stil at 4.8 eventhough soften also.

All the above are average ya from few banks.

Whatever the local FD is very disappointing.

I know. I am just giving an example to the other poster who's asking the questions of FD rates in relation to foreign investors.

it's not FD rate (which is driven by BNM OPR rates) that attracts foreign money per se.

it is the strength of the currency.

if a foreigner invest or place FD at 4% only to find a currency depr of 6% after a year, it's a loss, isn't it?

RM vs USD - depr 4.9% in last 1 yr; 11.3% in last 2 yrs.

RM vs SGD - depr 6.5% in last 1 yr; 9.2% in last 2 yrs.

of course, int rate is just one factor for currency strength, there r many others... incl debt level, tax collection, investor confidence.

incl major long term investments to bring in FX vs white elephants, non productive projects, wasting money, free money, etc.



ok, i stop here... duwan to turn this into economics 101 thread!

This post has been edited by AVFAN: May 25 2023, 09:11 AM

Weakening currency is due to lack of demand for the currency, no matter how much you lift the FD rate, it will not help much to strengthen the currency. So why ringgit is weak you have to ask yourself. I think it is a confidence issue, investors do not trust.....

talk nicely with the branch manager and you can get a better rate. amount 500k and above.

MBSB rate can be nego. Each branch had slightly different rate with HQ approval.

The party like a hari raya open house with lot of foods.

The rate is for those walk in otc customer..
some of my previous otc promo FD is no renewal as stated in their tnc, principle & profit will auto transfer back to casa. So I need to visit branch again to make new FD 😞

At least got door gift

It always helps to talk nicely

The branch manager informed earlier this month that the promo rates i.e. the rates in the system that people know about through the RMs and managers (especially as nowadays they don't bother to post them in the branches or on their websites! ) are not negotiable, but special rates for other tenors can be sought upon request.

At that time, the special rates could be sought for tenors above 15 months, but for FD up to 15 months, will just get the promo rates.

Is this still the case, or can special rates be requested for ALL tenors (as long as got big money) including those tenors with promo rates?