I agree on. Only besides a possibility of mismanagement of funds, buying over priced properties and equipment like with the MARA case, it should be quite safe to bank with Bank Rakyat.

Jokes aside, you wont lose your hard earned money with Bank Rakyat. Just look at the scandals rocking Tabung Haji, Mara and EPF, its still standing strong no?

Sometimes it is true they run out of stock for gifts, I experienced before. However, as of late, Section 14 branch seems to be getting stingy as previously it was quite easy to get nego rate from there.

As for bigger gifts like hampers & buffets, I think you really have to millions deposited to be eligible for it in PJ/KL areas as there are many high rollers. I gave up hope of getting it also. Or maybe you need to open an account in poorer areas in KL/PJ to get it?

The banks in general do not seem to be so desperate for getting more cash thru nego rates in present economy. Growth of loans or their stock of funds and cashflow are probably quite comfortable. There is no competitive hoo-ha going on and everybody may be sitting on their hands to see how Trump affects things like US FOMC.

Even Maybank dropped their step-up FD Islamic promo to 3.91% from 4% before. HL eFd offer of 4% (possible 4.18%) still not showing good interest from depositors. The big banks do not seem really interested. Even small Affin OMG Combo TD-i have rates up to 3.98% only.

Anyway, if a bank can hold things stable, they should wait till after the EPF rate comes out before going down or up. After all the 10 k promo is fighting for the spare money from the people who takes EPF or ASN into consideration.

You may be right that hampers are for RM million plus depositors with all those towkays from Digital Mall. Other gifts may be to please Exclusive members at the same branch. Can they really make money by giving hampers for RM 100,000? Maybe very cheap one with some chocolate wafers and some angpows. Maybe Bank Rakyat should support some local industries/co-ops that use their loans/services that produce stuff/services that can be used for gifts. Anybody for dodol, batik umbrellas. bags, scarves, towels, sarongs, handkerchiefs, tissue, preserved fruits and tidbits or even songkoks and car products, tinting, sandblasting, keychains, letter openers, staplers, torches?

This post has been edited by Deal Hunter: Feb 3 2017, 04:51 PM

Not to mention, banks are very cautious in giving out loans right now. Which could be one the reason why they are not in a rush to get in more funds.

In terms of the gifts, I'm speaking from experience of some forumers.
Those in Penang, I'm not so sure but those in Klang Valley most likely have a total of 7 figures or more to get invitation to the buffets & hampers in BR as I have been faithfully placing some funds of a few hundred K in BR but never got it.

Of course, the gifts are no big attraction to place funds there though but is more like a feel good factor.

This post has been edited by gchowyh: Feb 3 2017, 05:38 PM

... another factor is "leng-chai" or no "leng-chai" to get goodies from bank ... ... some even say go get yourself a BMW car keychain and walk in to negotiate leh ... ... honestly, I only get towel all the time ... smell hamper also none ...

Bro which branches you went to?

All branches in Melaka have this.

Minimum 100k %? Witch bank offfer may I know

i am from Singapore so I am not familiar with the FD rates in M'sia. Anyone can advise which is the best Bank for placing Fixed Deposit for amount of RM250k?

i prefer FD which will give me the flexibility to take out after 3 mth and yet the accrued interest is not forfeited. I previoulsy place a 6 month FD with OCBC for 4% and they allow me to take out after 3 months without forfeiting the interest earn. in the end i keep it till maturity but when i want to renew it, OCBC only offer 2.25%.

I prefer this type of FD where i do not need to keep it till maturity because this amount is my opportunity fund and i am ready to break the FD and redeploy it to buy M'sian stock should there be a major correction.

thanks

You may try to check out OCBC 360 savings account and see whether you can fulfill their criteria for reaching the higher levels of interest which is competitive with current FD rates. You are too late for the Maybank eFD promo of 2016 which was flexible for withdrawal anytime without penalty.

If you cannot meet OCBC requirements, you may try Maybank's Premier Mudarabah Account (technically Islamic investment but like savings/current etc rolled into one with higher interest on each day closing balance with monthly rest on the 1st of each month. The Islamic rate may change or be maintained at the
15th of each month, but usually higher than normal savings interest.

As far as I am aware, there is currently no flexible. no penalty on early withdrawal FD or Islamic investment like FD at present that suits your needs.

If you are willing to break the FD at anytime and forego the interest, you may consider placing a number of 1 month eFDs in various sizes. For convenience, the size should not exceed the total limit for IBFT or IBG transfer set by the bank you choose. You may need to use 2 banks or more if the size of your share purchase is big. Normally I use 1 IBG today and set another IBG for tomorrow.

You can ask your bank to confirm whether it will separate limit for IBFT and IBG instead of lumping them together - try the Singapore banks like UOBM etc, not Maybank or CIMB - if you want to do things this way.

Or you may wish to see what Hong Leong bank can offer in terms of multiple FPX payments to Hong Leong Investment Bank or other brokers.

This post has been edited by Deal Hunter: Feb 4 2017, 02:10 AM

Ambank but supposed to revised or close on Tuesday 7 February according to the branch I visited.These are usually never displayed - have to ask either counter or person in charge of FD - who may refer to some internal memo on what to offer.

This post has been edited by Deal Hunter: Feb 4 2017, 02:30 AM

UOB.. but the accrued interest of withdrawn is based on completed quarter only and may uplift part without losing the promo rates

I went to 2 ambank branch, with 50k for 5 years both quoted me 4.32%

if you are getting lesser then you should stop visitting that branch.

This post has been edited by bearbear: Feb 4 2017, 07:46 AM

For me I feel just dumping some money into a 5 year FD saves so much hassle and since AmBank is giving a rather acceptable rate , no harm investing .

same, just let it sleep there rather than running around every year.

Hmm not sure if KL do have such offer

bro, putting in fd is not called investing, earning interest. investing means ut, properties, stocks etc.

Hi bearbear, that's an attractive rate
May I know which branches you went to?

Really ? Go read up on the meaning of the term investment.