Yes, but now I remember. The Fed, ECB and London cutted down the interest rates like crazy, so our Bank Negara followed. Certainly the subprime crises had zero effect directly.

Free Spirit 1) But what happens if you go to bank for them to print out the details on the back of the FD certificate. Is it considered bank auto renew  or will we be safe then?

2) From what I understand previously, if we change certificate (bank will automatically change the FD certificate after x number of printing the FD details behind certificate ), then we are safe?

That seems to be the trend as of this month. Hopefully next month or after we would see slightly better rates 🤞🤞

Sadly after reading this announcement, it would no longer seem to happen. Just got to go with whichever bank that offers the best/highest promotion when it's time to renew

Hi sifu-s,

I know its a bit out of topic but
can anyone from the floor can tell me more about
How is Bond is working ?

or any link to related forum ?

Since the bank interest rates is low,
many banks I went advise me to invest rather than put pure FD,
some officer said Bond is safer than equity...

Just would like to explore more first.

Thank you 

Thanks for the links. 

I think the banker is ask me to invest the Bond Fund (Manage by Fund Manager) rather than Corp. Bond  directly
because he said the min. investment is RM10K.
The link told, if buy Corp. Bond  directly, usually need min. RM250K !!
Wow, that is not for ikan bilis like me. 

Quite risky also, since every year need to pay fund manager fee (got minimum charge)
I don't think I want to crack my head just to get another 1-2% higher rates

Hai ... that's ikan bilis faith 

It depends;
When both parties set up the Joint acc, what are YOUR instructions to the bank for withdrawal.
Who is the Principal acc holder and who is the secondary acc holder? Or, are both principal acc holder?
One signature required (either one) to withdraw or both?

If only one signature needed for withdrawal, then very simple, there is no need to inform the bank one party has passed away. Just withdraw, its' perfectly legal.
If two signatures are required then big problem. The money(FD) will be kept by the bank, renewed with board rate until 7 years. After that, the principal sum and accumulated/compounded interest will be sent to unclaimed money fund.

Nobody can touch the money in the bank or at unclaimed money. It still belong to the next of kin if there is no WILL.

First of all, nobody will know an FD exist. Only you or joint acc holders and the bank know.
If you keep your mouth shut and withdraw, what is the problem?
It is only a problem if a third party contest the withdrawal. How does that party knows? From your itchy mouth?
Third party could be a good son who will also keep quiet. A drug addict son will sure contest.
there could also be other scenario like, outstanding loans, unsettled taxes, legal financial cases, alimony to be paid, etc etc, not just about itchy mouth but by the financial institution especially those in which the outstanding debt and FD are the same.

There is a hierachy of who will benefit from most, an estate of a deceased. A distant relative have no business to contest. It is only a problem when children are grown ups and not talking to each other will sure create dramas.

Here is the Malaysian Bar where you can get more knowledgeable answers.
Look for Non-Muslim Inheritance Law.
that is FD joint account with any to sign option,...not about death with /without will.
We better stop this topic.
yes better talk about inheritance law in other treads

https://www.malaysianbar.org.my/public_awareness.html

May I know where can see the PBB 3.7 % ?
Dont find it from the website either..

All sifu, I got another stupid question.
If I have a fund in citi bank, and would like to open a fd in hlb, need to be over the counter. How should I transfer the fund to hlb fd?

Sorry, very new in fd...😅😅😅

Ha Ha. Good try.

All banks have CCTVs. I am very sure the bank will make a police report if the bank is a responsible bank.
But first, if I am the bank manager, I will call up the acc holder to find out the actual story. If unable to contact the acc holder, then something is very wrong. The bank has no choice but to make a police report.

Stranger: "Oh, this is my brother / sister / cousin / uncle / friend, (s)he is working during office hours and cannot come to bank, so I'm withdrawing the FD for him /her".

Go to jail? They could just feign ignorance, and say "Ooo~ tak boleh withdraw? Saya tak tahu pula."

This situation is different. He was thinking of withdrawing for someone else, whether as a favour or intentional fraud.
If impersonating someone else is even a much worse offence.

What bank is this?

The fixed deposits are to bring down the overall risk. 3.5-3.8 is quite low though, I would be ok with 4%. Any bank’s offering in that range?

still can use dettol , im not even using it for my past 30 years .
luxury life you having , not 生存 but good 生活

Tq for reply, done RM5k x 12.... hope it's better than FD

I'm expecting another cut in the 2nd half earlier by September 2020 in view that Federal Reserve said they still have room for further accommodation; another 50 basis points for the rest of the year.

That one on September is my personal view.
The one he quoted is a professional view.

2 cuts in the first half is considered steep.

BNM MPC meeting schedule: May, Jul, Sept, Nov
Federal Reserve FMOC meeting schedule: Mar, Apr, Jun, Jul, Sept, Nov, Dec