Surely they have to do better than that? Why extend? Need to give better offer if want to beat the competition. Even now find their offers too unattractive compared to others.

Don't have enough money to layan those not competitive with top or second topmost promo offer. Only interested in hunting for best deal.

Misleading statement...it is FD interest plus  the gold plated dog

it's not FD interest, most is CASA interest which is low.
Totally not worth it unless you want that Gold Plated Dog.

No charge, just a signature from the depositor is enough.
Today, use the "Withdrawal" option in the RHB online leftside menu.

Alliance Bank Fixed Deposit from 18 December 2017 to 31 January 2018
min 10k place fd and min 10k place sa total min 20k
9 months 4.25 % p.a
12 months 4.30 % p.a.
T&C https://www.alliancebank.com.my/Alliance/me...TnC.pdfechanics
wed https://www.alliancebank.com.my/promotions/...d-campaign.aspx
5. To qualify for this Campaign, Eligible Customers must place “New Funds” of a minimum of RM10,000 in Fixed
Deposit (FD). During the time of placement, Eligible Customers must have an Alliance Bank Current Account or
Saving Account (CASA) and the account must have a minimum of RM 10,000 throughout the campaign period.
(“New Funds” are defined as funds that are not derived from any existing account(s) within the Bank or its
subsidiaries. It must not be funds transferred from any existing Savings/Current/Fixed Deposit/Foreign Currency
Account(s) of the Bank or in the form of cheques, cashier’s orders or demand drafts issued by the Bank.
Deposits that are not New Funds would not be eligible for the Campaign).
6. This campaign is subject to FD placements for 9 & 12 months tenure only.

Do you have problem understanding Q13 and Q10 and the answers in the official PIDM FAQ?

If you only have 1 saving account at a bank group, the protection is only RM 250,000. Does not matter what whether joint, personal or whatever.

If you want PIDM for RM 500,000, you need 2 "eligible account as having a different sole or joint depositors named in the account in conventional or Islamic banking of the same bank group".

Usually the following ways are used.

Choice 1:-
Personal sole conventional account - eligible 250k protection
Personal sole Islamic account - eligible another 250k protection for total of 500k protection.

or

Choice 2:-
Personal sole conventional account - eligible 250k protection
Joint conventional account - eligible another 250k protection for total of 500k protection.

or

Choice 3:-
Personal sole conventional account - eligible 250k protection
Joint Islamic account - eligible another 250k protection for total of 500k protection.

or

Choice 4:-
Personal sole Islamic account - eligible 250k protection
Joint conventional account - eligible another 250k protection for total of 500k protection.

or

Choice 5:-
Personal sole Islamic account - eligible 250k protection
Joint Islamic account - eligible another 250k protection for total of 500k protection.

If you wanted RM 1,000,000 PIDM, then you need 4 eligible accounts as follows usually:-

Personal sole conventional account
Personal sole Islamic account
Joint conventional account
Joint Islamic account

If you want more, you can simply make more different eligible accounts by having one more name for a 3 name Joint accounts, or having a different person for the 2 name Joint accounts.

WARNINGS:- Some banks do not let business accounts to enjoy the same FD promo - so forget about that way.
For joint savings accounts, the first name and the fact that it is joint may have some sticky problems with some banks in FD operations.

Q1 :- PIDM only interested in eligible account - don't care whether 1, 2, 3 or even 5 persons in the eligible account. So only get RM 250,000.

Q2:- CIMB and RHB are now different Bank groups, so 2 eligible accounts. So can get RM 500,000 altogether.

If CIMB and RHB merges and become one banking group, the RM 500,000 will change to RM 250,000 after a stated number of 2 years. Refer to Q15 of PIDM FAQ.

No.
Only 250k + 250k = 500 k all in.

You should not think of person each getting 250k or even of accounts. Just think as if PIDM just pays entitled entities like sole proprietor, partnership or company.

The core reason for the continued poor understanding of PIDM is due to the poor choice of English, the use of ambiguous concepts for ordinary people,- instead of trying to educate to a different and more precise viewpoint.

Hi sifu,
For HL OTC 12 mth 4.3%, is interest paid out monthly or every six months as reported by FunnyNinja?

I find this page useful
https://genxgenygenz.com/fixed-deposit/

NO - not meaning like that. For explanation, say you are A, father F, mother M.

Conventional Entitled Entities

A, A+F, A+M, A+F+M

4 entities for conventional 250k x 4 = 1m

Make some more Islamic Entitled Entities

A-i, (A+F)-i, (A+M)-i, (A+F+M)-i

4 more entities for islamic 250k x 4 = 1m

Total 8 different entities 2m.

Please do not mix up with other explanations where you A is not in entity. This had been explained in many places about a trusting family of 3.

The extra non-A entities are:-

F, M, and F+M, F-i, M-i and (F+M)-i

6 more entities having only F and M involved and entitled to 250k x 6 = 1.5m

Thus  a family of 3 can have a maximum of 2 + 1.5 = 3.5m

Why do you keep on repeating the same question over and over again? If there is no clear answer maybe you can take up the initiative to call the Bank and share with us your finding?

YES if you mean joint FD entity having persons A and B.
It won't help if open another joint FD having persons B (as first name) and A.
Both FD accounts treated as one entitled entity - sama geng orang - only worth 250k.

Who did you contact regarding this? PIDM's Customer Service? Based on the information provided on the website, this is not how it works. Unless the information provided in the website is outdated, I think his understanding is wrong.

http://www.pidm.gov.my/en/for-public/depos...lation-for-dis/

Do confirm again with them on this and ask for black & white if possible.

Sometimes, the info provided by customer service officers might be inaccurate. The accuracy depends on the individual officer's knowledge and experience on the subject matter. I have experienced getting inaccurate information from customer service officers from banks either in person over the counter, by email or by phone. Sometimes, different officers might give different answers to the same exact question. Sometimes, the answer from HQ might differ from the answer provided by the branch. 

Maybe someone else can contact PIDM and see if they get the same answer from a different officer.