Currently there is 3 months promo FD rate at 4.15%.
Why need to have troublesome (need to be Astro subscriber + earmarked CASA) to put in this one?

Renew 4.3%, while totally new fund 4.2% only?

Current OCBC promo is 4.3%?

I only knew previous promo was 4.2% and their website also shows 4.2% only.

Suggest open up new topic to talk about non-FD related.

Anyway, for online account matter as well as credit card, most banks control via their HQ/customer service centre, branches generally have no authority on the matter mainly for security control reason.

Online account simply has bigger stake or security in hand (as you can transfer out money), as compared merely a dormant account activation.

Saving plan is not FD.

And saving plan gives you cash back, not interest. Please do not confuse between cash back and interest.

Saving plan never said they gives you x% interest.
Saving plan generally guarantees cash back x% on your premium, not interest x%.

Saving plan is actually similar to endowment insurance, you need to commit for entire tenure of the plan. It is not FD, whereby you can simply put or withdraw at anytime without reduction in principle.

You may open a new thread for it and update the list.

There are many outdated info/ FD rate still being quoted.

Also,
All forumer,
please use spoiler and don't need to keep on quoted the entire page, as it may be troublesome for those using mobile version, need to scroll down hard...

This post has been edited by cherroy: Apr 24 2019, 02:38 PM

From tomorrow onwards, banks may revise all the FD rate (likelyhood including promo FD rate) across due to 0.25% OPR cut that being announced by BNM today.

All FD rate are fixed once placed.

Expect most promo rate going down -0.25 from previous.

It is not "over-reaction", but typically what banks need to do.

Some banks expect the rate cut will only come in on July meeting, so it may a bit "surprise" for some of them, now need to "react".

A large scale bank easily can have more than 100 bil deposit, a 0.25% difference could mean nearly 250~300 mil annually, so they to react on it.

Ya, last few rounds, many banks are slow in FD rate increment adjustment, while immediate adjust the loan rate upwards.

But at least Maybank is doing fair on both front this round based on latest news on the recent OPR adjustment.

https://www.thestar.com.my/business/busines...xxHhsTqSA2ru.99

This post has been edited by cherroy: May 9 2019, 09:02 AM

It depends what bank, and their system.

Some can, some impose limit for cross branch withdrawal.

They are totally different.
FD - You can withdraw anytime, select your tenure 6 months, 1 years, and guaranteed to have the x.x% interest when matured.

Saving plan - You can't withdraw anytime, need to commit entire length of the plan (normally 6,10,15 years), every year must commit the premium every year, failing to pay the premium, may consider premature surrender, and what you get back (premature surrender at first few year) may way less than what you have paid.
And its actual total return ROI (not cash back) is not guaranteed after the plan ended.

It is better to create a new topic if wish to explore more about saving plan, or join into existing saving plan thread.
As this thread merely talk about FD issue.

Thank you.

Since this thread mainly talk about FD interest rate, please don't deviate from it.

One can always open up a new topic to talk about EPF as alternative to FD issue.
Thank you.

Can start a new V16 as TS.

UOB revise the FD rate today to 3.88%, yesterday or last week still 3.98%.

Please do not OT too much, as this topic is solely talk about FD rate offered by banks.

Those interest rate broadly issue, like economy, academical discussion, can be posted via RWI section, as it is much broadly about social economy already.

Thank you.

Please check properly before making a claim that FD gone missing in a bank. It is a serious claim.

Check if the account
1. Is a joint account or not, as joint account holder can withdraw FD as well without informing other. Some irresponsible people may "secretly" withdraw spouse, FAMA joint name account.

2. Forgetful - the FD actually being withdrawn already, just because having the certificate in hand, doesn't mean the FD is there especially nowadays most banks use statement based FD.

3. The FD being withdrawn for other investment offered by bank. Many banker always persuade especially old folks to invest by withdrawing via FD, cited can get better rate than FD blar blar.

4. FD auto credited into CASA after matured.

Fundamentally, FD in a bank won't simply varnish.

This post has been edited by cherroy: Nov 5 2019, 11:15 AM

No it is bank interest that your money is in CASA (current account/saving account), as those account interest is very little and is where bank can make the most money from.

You can't withdraw in those bundled FD with CASA, the amount generally will be earmarked by their system.
Eg. Existing saving Rm100, you have bundled FD that put extra Rm500 into it. You account balance will be Rm600, but available balance is only Rm100, then RM500 cannot be used or withdrawn until the FD matured, or as per T&C of the bundled FD.

Bank likes customer to open CASA for bundled FD (besides the FD number looks big for marketing gimmick), as once matured, sometimes, people do not withdraw out (small amount of money only or whatever reason), then bank can get cheap funding as those account has little interest only.

Normally promo FD means banks want to attract new fund, and this can only be done via OTC, through cheque, or staff verifying the fund actually is fresh fund via IBFT, IBG etc.

While e-FD, there is difficulty to pin point the fresh fund portion, apart via FPX method.

Another point, with OTC, banks have chance to meet you and sell you other investment product.