read the excitement in the correct topic https://forum.lowyat.net/topic/4745820

I was told not necessary to open savings for fd tenure less than 12 months (I placed for 6 mths without savings account)

Went to Bank Islam took the 4.5%. Opened a basic saving account with ATM card charged only one time RM12. Took one hour to finish all stuff.

Also did mine 4.5% @ 12m. No need to open savings account. Took about 30mins. Slightly longer cause 1st time with BI, so have to meet officer to confirm some details. Overall pretty friendly and efficient

you can opt not to have ATM card. But for me, i want the online banking then need to have ATM card

  got it!

So I went to BI just now and they said got another promo 5.9% 70:30 FD:SA deal. LOL coba nasib cabutan tuah win this & that. Effectively ~4.1x% + lottery ticket 

BUT the thing that screw up my day is EPF "promo"  On the way to BI, saw EPF "roadshow" saying voluntary contributions increased to 100K  wef 1/6 today   

As a jobless warga mas, that is very tempting news. Because iinm, **div is calculated yearly but takes into consideration the dates of contributions and withdrawals... not simply the balance at the end of the year. What that means is that we earn div penuh for everyday the money is with kwsp. And we can treat it like a supercharged savings account, masuk keluar sesuka hati vs zero int for premature FD withdrawal. Of course, warga mas only lah

haha I think they are pretty concerned about the withdrawals - that's why raise to 100K from 60K. And I think also good news for FD rates becos now kwsp competing with the banks - surely the banks will respond with higher rates.

So what do u think?

PS:  **Hopefully I am not mistaken about how div is calculated cos that's a major factor to consider

Is it u just bring banker cheque?
U open in the branch?
I went to BI and was told can bring cheque without need to open SA, but need 3 working days for cheque clearance.
If without ATM card, is it need to use passbook to withdraw money OTC? N the ATM card got expiry date, wonder if renew need to pay again..  the BI staff told me to open al-awfar account if want to use it for FD.. n she ask me to do online acc opening n come to branch to do ATM card..

May I know anyone who open acc online, can I choose basic saving acc instead of al-awfar? Coz al-awfar need to pay annual fee it seem. N it is investment acc..

Is it u just bring banker cheque?
U open in the branch?
I went to BI and was told can bring cheque without need to open SA, but need 3 working days for cheque clearance.
If without ATM card, is it need to use passbook to withdraw money OTC? N the ATM card got expiry date, wonder if renew need to pay again..  the BI staff told me to open al-awfar account if want to use it for FD.. n she ask me to do online acc opening n come to branch to do ATM card..

May I know anyone who open acc online, can I choose basic saving acc instead of al-awfar? Coz al-awfar need to pay annual fee it seem. N it is investment acc..

OOT

It's hot discussion now in EPF - self contribution thread starting from this page.

I'm already moving my FD allocation funds to EPF for years   Coincidentally my BR FD is maturing mid June in coming 2 weeks. Just nice to  max the remaining 40k into EPF for higher interest. Recent year FD max 4.5-4.8% while EPF easily 5.0-6.5%
If more than 1M, can withdraw the excess like savings account any time via online, just takes 2-3 working days.

efd?

Imran suggested that the FBM KLCI may be underperforming due to the strong selling pressure on banking stocks, which weighs heavily on the benchmark index, but not on other indices.
https://www.freemalaysiatoday.com/category/...g-the-fbm-klci/

Btw, Maybank finally upgraded their FD system. Previously you will never know if they have special promotion or not when you try to place FD thru maybank2u, but now if they have FD promotion, you will be able to see and select from the drop down box before you choose how many months to place the FD.

i just checked maybank efd and found that under conventional fd(non campaign) 15 months, the rate shown 5.3%!!! is this true?

and i did not see any promotion rate as mentioned recently under islamic fd from the drop down box.

I can see it too.

Probably operator typed in wrongly - more likely to be 3.3%.

i just checked maybank efd and found that under conventional fd(non campaign) 15 months, the rate shown 5.3%!!! is this true?

and i did not see any promotion rate as mentioned recently under islamic fd from the drop down box.

Maybank?
5.3%

Yeah right....
They the one always give lowest rate in market....
Probably it's 4.3% or just 3.3% 😄

If Maybank gives real flat 5.3%, pigs can not only fly but go intergalatic warp travel already.

i just checked maybank efd and found that under conventional fd(non campaign) 15 months, the rate shown 5.3%!!! is this true?

and i did not see any promotion rate as mentioned recently under islamic fd from the drop down box.

Quick deposit and lock it down. Once locked in they have to honour...

sure have T&C one...

if the rate is mistake or error...

the banks can reject / not honour the rate???

that's very true brother. banks always win. they will find ways to twist their wordings/ T&C around...hardly can overpower them