BR 4.08% monthly interest credit to saving acc .why the certificate come out with interest ? Can any sifu give some opinions.

It is normal for Bank Rakyat's Siil Deposit-i Berjangka to always gives a guarantee to pay the final amount at the maturity date regardless whether
payment is done on a monthly basis or at the end. The standard line is:-

Adalah dengan ini disahkan bahawa Bank Rakyat memberi akuan dan jaminan akan membayar berjumlah
RM ...(final amount = principal + interest) ... pada tarikh matang yang tersebut di atas kepada :

Depositor Name (IC)

For those whose deposit amount (=>RM 5,000) and period (=>6 months) whose FD qualify for interest to be paid monthly to a specified Bank Rakyat current or savings bank account- make sure the following line below is mentioned (bank code 51):

51 AKAUN DEPOSIT-i BERJANGKA (IND - MTH)

The bank account number for monthly creditting of FD interest should be in your written FD application form. It is not printed on the FD cert.

Bank Rakyat guarantees the full amount however big it is, no wishy washy PIDM maximum limit of 250k business for all your accounts/FDs total.

The Tarikh Matang is automatically adjusted not to fall on a weekend. Thus if you deposited on a Friday in 2017, it will be printed to mature on Monday in 2018 for a 1 year FD with actually 367 interest bearing days instead of 365 days. I have not had the chance to experience whether the Bank Rakyat FD program is good enough to handle future public holidays.

The divisor for the daily interest calculated for each month is always 365 regardless of leap year.

The rate for the extra days is at the rate stated for the FD

KADAR KEUNTUNGAN : 4.08000%

instead of reduced to normal board rate for the extra days as done by some other banks.

The depositor can take out the amount on the stated Tarirkh Matang - no next day businees and no more bank cheque. Only cash to certain limits at other branches instead of home branch, or thru atm, internet banking or OTC bank transfer to other bank account (free for senior citizens).

For deposits using either bank or personal cheques, the FD cert is only issued after the cheque is cleared but the effective date is the date you gave the cheque. You may transfer funds online into your existing Bank Rakyat over a few days and still be considered as fresh funds for promos.

For those not updating savings passbook often and do not keep track of statements online, they may be confused due to lumping together FD interest credited on the day the FD placed each month , and daily interests on it and other banking account transactions which is creditted on monthly rest at 1st of each month. There is a fee for reprinting past statements after the credits and debits are lumped together.

This post has been edited by Deal Hunter: Feb 2 2017, 02:47 AM

sifu, if br bankrupt, how can they guarantee? full amount?

some say by gomen. any written tat full amount guarantee by gomen?

Most probably a system error. Try again later.

Uob 4.45 for 1:1 ut: FD
5.05 for 2:1 ut:FD

6month


Anyone knows which best bundles for it:FD?

Uob ut is affin hwang select income

This post has been edited by roimekoi: Feb 2 2017, 01:47 PM

Any sales charge for the UT ?

Anyone share Bangkok Bank promo rate ? albeit the limited branches

Enjoy Rates up to 4.00% p.a. on your fixed deposit.

Enjoy higher interest rates when you place your fixed deposits with us.

Just deposit a minimum RM10,000.00 in fresh funds with us (up to a maximum of RM30 million per depositor). Promotion is valid from 12th January 2017 to 31st March 2017
Tenure Prevailing Board Rates (per annum) Promotional Rates (per annum)
1 Month 3.05% p.a. 3.25% p.a.
3 Months 3.10% p.a. 3.80% p.a.
6 Months 3.15% p.a. 3.95% p.a.
12 Months 3.25% p.a. 4.00% p.a.

For more details and terms and conditions, call or visit any Bangkok Bank Berhad branch today!
Our Branches

Kuala Lumpur 03 2174 6905
Johor Bahru 07 353 3001
Penang 04 501 2388
Klang 03 3325 2178
Muar 06 953 1001

Upon maturity, the fixed deposit will be automatically renewed for the same tenure at Bangkok Bank Berhad’s prevailing board rates. Should there be any adverse market conditions such as interest rate movement and overnight policy changes, the Bank reserves the right to revise or terminate the fixed deposit promotion as and when it deems necessary.

Bank Rakyat Section 14, near Digital Mall is rubbish branch..
100k FD but pen / diary also dont want give..

other ppl get hamper, thumbdrive, from other branch..
please aviod Bank Rakyat Section 14, near Digital Mall branch..

Dont understand the promo. Mind elaborating?

For 6 months only, the UT just barely enough to cover the sales charge, which effectively reduce your interest rate

Not a bad fund to start with (less volatile), but buying UT from banks is not always a wise choice especially with such a short duration with FD and bank will charge max SC from you.

3% according to their fund fact sheet
https://www.fundsupermart.com.my/main/admin...heetMYHWSIF.pdf


For example you have 300k to put:

Uob 4.45 for 1:1 ut: FD
you need to put 150k in UT and 150k in FD

5.05 for 2:1 ut:FD
You need to put 200k in UT and 100k in FD

Unit Trust

what is latest fd rate in 2017?

Thanks deal hunter very clear explain. Alliance bank offer 4.05% 12mth minimum 50k monthly interest paid have to get saving acc but free of charge, do you think is good offer

the terms require depositor aged 40 or above

but maybe some branch don't really follow this condition, as long as got 50k per cert - $$$$$

Not sure whether all Bank Rakyat branches have gifts and what their stockpile is like, and whether it is for short or long term FD. For certain, different branches will have different depositors. Maybe they don't expect so many new depositors, or they concentrate in rewarding loyal depositors? I am not so keen about gifts, more happy with the chances for the money prizes. I suppose money for the prizes, so less for buying the gifts.

Thanks for the info. Ambank has so many products and a number are not advertised especially the higher amounts. Have to ask. There is also a 5 year for 50k at 4.25% besides the 100k for 4.35% both promo ending on 7 February with payment of monthly interests.

It depends on the individual's situation and fears.
Bank Rakyat is 4.08% for a year and is only minimum of 10k per cert. For some people, they break 50k into 5 x 10k certs with the idea that they may need
to take out some cert before maturity.
For those, who fear that Bank Rakyat may go bankrupt or that the government will not honour the FD cert promised amount, and instead trust PIDM, then they will take Alliance's offer if they are certain thay will not need the principal earlier.
For those who think Bank Rakyat position as an old cooperative bank is even better financially and riskwise than normal banks, they will dismiss the possibility of bankruptcy and feel certain the government will not let it fall and do whatever support is needed.
If you have too much excess money beyond PIDM to cover, than PIDM has no relevance beyond the RM 250,000 for each bank.

Thanks but no thanks. Prefer straighf fds only.

Bank Rakyat is not just any ordinary bank but a special cooperative set up by government for dealing with cooperatives deposits and loans. Thus it has an excellent way of getting money and a sort of captured market in co-ops and government servant loans. It has been around for a long time and its shareholders are usually quite happy with the profit shared. It is almost impossible to bankrupt, unless there is either a big crooked organisation stealing inside or a crazy management wasting its funds as it has only limited local risks as a cooperative. In the unhappy event, the government will be forced to support it even more so than if a normal bank crashes.

There are some articles about this but off topic. The black and white by gomen to back the guarantee on the amount in the cert - maybe some govt people will respond. Something like that also in Islamic version of FD on buyback - but Islamic changes and variations and PIDM/PIDM equivalents in past and present are off topic and confusingly explained sometime as the Bank Rakyat FD is a kind of Islamic Term Deposit.

This post has been edited by Deal Hunter: Feb 3 2017, 12:40 AM

2 weeks ago I placed 5yrs min 50k at 4.3%, changed so fast?

Depends on branch manager sometimes. Need to convince them sometimes to give you the best rate. And tempt them with a bigger amount of possible.

lol.. really?

the other day the operation manager told me that their HQ revise their rate weekly.. so there's little flactuation every now and then...

HQ give the range of interest to branch. it should be branch manager to offer the highest interest rate set by HQ to u or not.