haiz... sorry to hear bro....

not me who reported, i know yr gud intentions.. but...

in the frenzy to chase rates.... this busy thread.. trolls, scammers are trying hard to get attention.

hard to avoid FX, TIA, unit trusts, commodities...

next... may come MLM, ponzis...

e.g. TIA = term INVESTMENT account - is this FIXED d?!!

but why??? aren't there other threads for all of these??


best policy:

NO PIDM, NO TALK.

no la... no saying TIA = trolls/scammers.

just saying all kinds will come if no self discipline.

i dun impose anything, just suggesting.

if admin doesn't wish it, sure... can go on talk anything!

they may take a cheque.

some years ago, UOB used to take personal cheques.

Upon maturity, they issue u a cashier's cheque.

this way... need to spend a lot of time... wait, Q, wait... u gotta hv the time and patience.

Why does this bi offer sound like income tax baiting?!!

that message was to alert some people.

ok, all clean and gud here, no doubt.

No help if u dun tell which bank.

BNM set to hike OPR for fourth time in a row on Thursday

https://www.theedgemarkets.com/article/bnm-...me-row-thursday

CIMB, Hong Leong to raise interest rates on Nov 8
https://www.bernama.com/en/business/news.php?id=2135188

Bank Negara likely to hike OPR in 2023 to 3.5%
https://themalaysianreserve.com/2022/11/04/...in-2023-to-3-5/

BNM has to raise rates to do a little catch up to lessen effect of USD.

but will not do too much so as not to oversqueeze lending.

my read is by march 2023, most FD 12m will be in the range 3.8-4.2% pa.

but as u know, inflation will stay elevated, purchasing power continuously eroded.

more so with the high probability of cutback on the rm80bil subsidies post GE15.

BNM sets OPR, individual banks set their own BLR which usually follows OPR.
they, they set their own BLR+x or BLR-y.
each bank does their own thing.


as a rule of thumb, PBB is usually the worst one.
next is MBB; then CIMB.
even CIMB is now offering 3.30% for 12m, likely to raise to 3.55% next week.

the cimb link, this one?
https://www.cimb.com.my/en/personal/promoti...imb-clicks.html

it's been taken down now because of coming change.
Just wait a few days, it will come back with new rates.
whoever sees it first, please report!


seems to be the consensus - BNM will likely raise 25bps each in Jan and Mar, taking OPR to 3.25%.
if so, perhaps Mar will be the optimal time to lock in for longer periods.
https://www.freemalaysiatoday.com/category/...t-3-25-in-2023/

thanks for heads up.

if the online rate is not close, OTC it is!

a fren who had msg from manager just told me this one is TIA, not FD, eFD or FRIA-i.

relax.

wait till u read the next "i hv rm4mil, tell me how to invest in FD or..."!!

here it is - CIMB fria-i, 12m 3.90%; 6m 3.70%, 3m 3.20%.

this is online FD for clicks users, not TIA 4.05% (OTC only, i think).

https://www.cimb.com.my/en/personal/promoti...imb-clicks.html

not bad, i think!

can do 6m 3.7%, see what happens by may 2023.

if hikes stopped by then, can lock in longer.

This post has been edited by AVFAN: Nov 9 2022, 03:41 PM

TIA= term investment account.

It is a CIMB product.

It carries a small risk becus there is some investment component.

It is not covered by pidm insurance like FD.

Generally, it is safe but less so than FD.

Efria-i is 3.90%, refer earlier posts.

like any major bank, CIMB has many differing products to attract investors, depositors. ranging from "zero" to "minimal" to "moderate" risk.

hence there is FD, TIA, bundled deposits, unit trusts, gold bundled, etc.

some years ago, they have another product is carries even higher interest than TIA but it can be recalled anytime.

it's up to the individual what risk appetite one have.

it's not foolproof that as a major bank, there is no risk for anything - big banks hv run into trouble before, albeit rare.

personally, if i wanna take risk, i will buy stocks.

e.g. with rm100k, i can put 80k in pure FD and 20k in maybank or public bank stock.

maybank is an even bigger bank, can never fail right?

well, to be fair, in my experience, maybank share total cap gains + dividend usually >6%. but it is not riskfree.

this is interesting, thanks for posting.

i read the T&C for both.

if not wrong, i think this eFD is new, launched to attract click users to do eFD on DESKTOP (website) only, cannot do with mobile phone clicks or Oct app.

eFRIA-i can be done with desktop, mobile app or OTC.

i suspect this has to do with recent cases of money lost with mobile apps.

also, it may have something to do with the plan to migrate all click users to upgraded OCTO when ready.

anyway, i ALWAYS do FD on desktop, more secure. NEVER with phone.

6m is good. by may, all shud be stable, can decide if longer periods then.

if it makes sense... u may want to uplift this 3.70%, place again at 3.75%!

i gave up 1 month of previous 3.05%, go for this 3.75% 6m - better overall for next 5 months.

these changes r only possible with online transactions... if OTC, tak pakai... too much work, travel, waiting, petrol, parking...