US fed just raised another 25bps.
https://www.cnbc.com/2023/02/01/fed-rate-de...point-hike.html

now, we wait BNM 9 march meeting...

if RM stays <4.25 to the $, good chance BNM will not raise.

but for sure, no reduction yet...?

CIMB efd/eFRIAI... 4.2% 12m campaign ended yesterday.

anyone seen a new one?

CIMB Campaign Period: 30 January 2023 - 9 May 2023

eFD/eFRIA-i Tenure Campaign Rates (% p.a.) Minimum Deposit Placement Amount
Three (3) Months 3.58% p.a. RM1,000
Eight (8) Months 3.98% p.a. RM1,000
Twelve (12) Months 4.20% p.a. RM1,000

https://www.cimb.com.my/en/personal/promoti...fd-efria-i.html

it does get confusing with all these banks offering all kinds of deposits and investments with all kinds of names and conditions.

they even use terms like "unfixed deposit"!

as a cimb customer for a long time, i also sometimes can't fully understand when they come up with something new.

and becos some of these products are offered exclusively via conventional, islamic, preferred, OTC, online etc... it adds to the confusion.


but generally speaking:

efd/efriai = online FD; PIDM protected; need to use desktop, not mobile; no diff if u do OTC; promo rates always higher than normal.
https://www.cimb.com.my/en/personal/promoti...fd-efria-i.html

TIA = term inv account, it's "inv", subject to final outcome; not protected by PIDM.
https://www.cimb.com.my/en/personal/day-to-...-account-i.html

Bundled offers = friai bundled with gold, unit trusts, insurance.
https://www.cimbpreferred.com.my/en/preferr...paign-2023.html

if in doubt, do check with bank manager.

https://www.cimb.com.my/en/personal/promoti...fd-efria-i.html

when a campaign expires, a new one usually replaces it immediately.

new one is always found in their main site/promotions when it begins.

however, at CLICKS, the new one does not appear until a few days later.

no idea if this is an admin lag or done on purpose.

if u hv clicks, u can do that efd/efriai:
https://www.cimb.com.my/en/personal/promoti...fd-efria-i.html

take note u usually cannot get it or even see it if u go to clicks direct.
u must go via that promo link, click on it to take u to yr clicks to work.
that promo link will go blank when the period expires, but will return when a new one is up.
or, just google "cimb efd/efriai" for it.

and dun worry, CIMB has no more this "fresh funds" bs.
i hv been doing this a long time - easy, convenient.
bye bye to driving, parking, transfers, earmarks...
may not be highest rates but usually good enuf.

every bank has its own view what BNM will do next.
what i read, most analysts think BNM will leave rates unchanged in may but will raise 25bps in july:

BNM meetings
03 May 2023
06 Jul 2023

BNM will be under pressure to raise if US Fed continues to raise at next Fed mtg on 03 May (04 May our time).
Or BNM will follow fed eventually to cut rates.

there r 2 camps now - one believes fed will raise one more time 25bps and pause... then... start cutting rates to avoid recession.
the other camp thinks everyone's being fooled - fed will keep raising rates as the prime motive is to tame inflation which is still running high.

so... do yr FD placements according to what u believe is coming, nobody really knows.

how does this new offer compare with the last one(s) from PBB?

there's some "rumor" speculating some banks will be reducing FD rates next week.... anyone else heard this?

"financial experts" say inflation rate low wor... no rate hike in july...??

inflation rate low meh? how come price of my lunch keeps increasing every month?!!!

hmm.... so, my source was right.

good that i placed something 2 days ago.

now, it seems very likely there will be no hike until at least july, maybe even a cut in OPR!!

if a bank gives too high interest rate for deposits, they need to loan them out at even higher rates to make a decent spread.

often, that leads to riskier loans, unqualified loans.

and that, is one major reason some banks come under stress when the crunch comes, will even fail if there's a run on it.

our local banks are generally conservative which is good, the most conservative ones being public bank n maybank.

that's why they r the strongest n most resilient.

This post has been edited by AVFAN: Apr 4 2023, 09:09 AM

https://www.cnbc.com/2023/04/12/cpi-march-2023-.html
https://www.cnbc.com/2023/04/12/fed-expects...nutes-show.html


US inflation is slowing down; Fed alluding to a recession later in the year.

meaning... incr chance of fed pausing, no more hikes, maybe cut rates by year end.


so, guessing game now... will BNM hike, no change or cut in may, july..??

my take - no more hikes... just pause until year end.

absolutely!

congrats.

yr short off topic line has managed to turn this FD thread into ASM, EPF... once again.

PBB fast hand fast leg... others should follow quickly...

i think so too.

most unlikely there be another hike for a long time; maybe a cut - if USA does so.

these rate hikes are killing biz, small and big... property and car sales will be hurt.

meanwhile all banks raise lending rates at lightning speed.
https://www.theedgemarkets.com/node/665506

OCBC... this is board rate, not promo.

New:

UOB
6m 3.8% pa
12m 4.0% pa
min 10k, max 5mil
monthly interest

the msg i rec'd... doesn't say till when but "promotion rates are subject to OPR revision".

guess that means until next OPR cahnge or when they have enuf...



CIMB... new rates coming out tmr or day after.

I hope 12m, 4.25% or higher.