counter told me my FD had been auto renewed at 2.35% which is a lousy rate. so told them i dont want. they told me i have to stick to 2.35%. if i cancel it, i lose RM 700 in interest

another 11 months to go

my question is why must i tell them in advance that i don't want to auto renew ?  because i didn't inform them in advance, they auto renew it for me at 2.35%. i was not inform that i need to tell them in advance. so i have to stick to 2.35% for another 11 months. or if cancel it now, i need to pay the bank RM700

i am not familiar as a Singaporean but i thought this is unfair to me

RM 700 is the interest i will lose if i don't want it to renew it. of course i don't want to renew as 2.35% is lousy. but i will lost the 700 interest if i cancel it
my question is if auto renew is the norm in Malaysia? if i dont tell them, the default is auto renew.

efd operates 365, holiday or not is not an issue, efd can be placed and withdrawn on holiday also.

FPX is supposed to be same day, as long as we meet the cut-off times. Bank Islam's practice is not really acceptable in this day and age. Who is earning interest on your money for the 3 days in transit?

Wait for OPR outcome before placing FD? Who knows, BNM might have to raise rates to stabilise the ringgit, tho analysts' consensus is no hike.

I believe they won't go more than 25bp even decided to go for it

So 25bp, MYR the msot will just stay put at current level

FD rate I doubt will see any attractive promo anymore unless banks see higher borrowing incoming.. which again.. unlikely

Today I went to UOB to put FD, the staff counter frowned and scowled, she said she prefer all the customers to borrow and transfer out money, the bank flushed with money. I was so dismayed.

What a strange reaction . Maybe she was having a bad day, work stress, year end coming targets to meet, etc.

Based on my own experience, UOB staff are generally courteous, professional and work speedily. And in terms of product knowledge, the staff are better than many other banks' staff. Just my 2 Singapore cents

effective rate <= 4%

Bank Islam seemed to be promoting heavily on their FD and investment products. Received 2 calls from their staff today.

The MaxCash promo has been mentioned earlier, the 70/30 FD/SA promo.

Another one is investment for 2 years with expected return of 4.39%. They claimed that they have been achieving the "expected" returns in the past.

Beware of the investment plan. I almost made the wrong decision. Officer told me capital and profit guaranteed at first. But during registration, after reading the fine print I highlighted that it’s not guaranteed. Then she made a call to double check and apologize for the wrong explanation.

8 months?

ahhh found it, hidden inside 


bugger, it rotates between 2 different rates

https://www.hlb.com.my/en/personal-banking/...-promo-EFD-1123

Good, finally increase. Else I keep move to MBB due to HLB lower rate.

Not only jialat for keep playing hide & seek only.
I record in my Excel calculation, HLB interest get exactly as my formula, MBB always lower than RM0.26 ~ RM0.35, and latest different by RM0.37 (not consistent, even I place at the same month) .

I tried to buy eFD from HLB but unable to proceed. Ask CS and they said because mine is a Joint Acct and eFD can only be in a single name. Kinda silly why they cant just use the principle account holder's name.

Hong Leong eFD accepts only single name saving account.

What I do is to open another joint name saving account together with this single name saving account, link both accounts in online banking.
Once FD mature, can transfer FD fund from single name saving account to joint name saving account in online banking.

Alliance Bank eFD promo at 4.2% for one year. This could the the best FD promo at this moment?
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yes its tedious. my fd all due with MBSB. i hv remove all my funds left RM50

most banks fd for fpx .. MBSB not in list.

If I have 50k , should I open an e-FD or an FD over the counter instead?

may i konw how to withdraw online for MBSB fd? At the withdraw side, i try to key in "to saving acc no" but it seem not allow to key in?

yes, i think the system never link my saving acc. its is we can link ourself or need to call bank to do it?