Because klibor rate drops.

It is about liquidity and expectation. Previous there was frenzy rate hike across the globe particularly Fed, hence banks were eager to pin down deposit rate to take advantage for rate hike cycle.
But after latest hike of Fed and hint of potential pause in rate hike with sign of economy slow down, the rate hike expectation diminish, instead some predict Fed may even cut rate by year end.

But yesterday PCE number change this expectation dramatically. So next month may see a different scenario. Fed rate hike may not impact directly klibor, but it does put some pressure on other currencies level and liquidity situation.

Let's end here, don't want to deviate too much on FD rate topic. Can always open another topic to discuss because it can be lengthy and many in depth issues affecting interest rate.

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.

The deposit made in this Campaign must be from Fresh Funds and to be deposit during the CampaignPeriod. Fresh Funds allowed for this Campaign areas follows:
b) Debit Account (provided the source of funds is fresh funds deposited into the said account on the same day via Telegraph Transfer (TT) /Interbank GIRO (IBG) /RENTAS /DuitNow /from any other external sources.;

TQVM for helpful info.

May I know what happens if OPR go up or down from current 3% before maturity?  Will our rate be adjusted for new OPR?

TIA

RE Bank Islam promo, the T&C says
I have savings account there. Can i transfer from other bank into my SA & make the deposit from there? Is my SA a Debit Account mentioned in the T&C?

TQIA

omg..why hlb so troublesome. want to change limit then got security question . then it say not correct . ask me go setting change security question. then i go fill in again ..say you already existing hlb connect user. how to go about it? sorry im new to hlbb . done twice still same not able change security question

from their FB page ...
You can log in at our HLB Connect full website below and follow the steps to change your security questions :
Full web : https://s.hongleongconnect.my/rib/app/fo/login
Login > Setting > Change Security Questions > Create new Security Questions > Next > Enter TAC
Hope this helps. Thank you.

HLB How to change security question

btw, HLB connect, after changing limit, need to wait 1 hour before can transact

May I know what happens if OPR go up or down from current 3% before maturity?  Will our rate be adjusted for new OPR?

TIA

btw, HLB connect, after changing limit, need to wait 1 hour before can transact

Huh? after changing limit need to wait 1 hour? I never have such problem before, I increase limit immediately can do transfer and change back to previous limit after done.

omg..why hlb so troublesome. want to change limit then got security question . then it say not correct . ask me go setting change security question. then i go fill in again ..say you already existing hlb connect user. how to go about it? sorry im new to hlbb . done twice still same not able change security question

Ya it stated there need to wait one hour  if wan increase limit unless u reduce limit then can immediately.

Ya it stated there need to wait one hour  if wan increase limit unless u reduce limit then can immediately.

Today my FD maturity date
So is allow next few day renew for best rate? Or must tomorrow?
Place OTC, so online banking cannot do anything

Which bank? Renewal usually cant get promo rate, unless for MBSB and BR (previously).

CIMB, place before covid, then i ignore it until very low rate, 2.1%
Not sure now what rate, or fresh found to other bank