Fixed Deposit Rates In Malaysia V. No.15, Strictly for FD Discussion Only
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 Jun 6 2023, 10:59 AM
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#1
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Probation
6 posts Joined: May 2019 
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Hi guys,
The BI 4.5% for 12 months FD, is it safe to put more than 250k as PIDM only protected up to 250k. First time use BI, so feel a bit insecure. Anyone put more than 250k? |
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Jun 6 2023, 11:38 AM
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#2
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Probation
6 posts Joined: May 2019
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QUOTE(dudester @ Jun 6 2023, 11:30 AM) PIDM protection is like a fallback incase shit happens. I am sure many would not let this be a determining factor. EPF also can go missing if the country collapse. I didn't think of country collapse or bankrupt sort of thing. I'm more concerned on the security of the bank as previously saw many cases of money suddenly gone missing from bank account even for FD (other banks). Like being hacked or insider job or something. But BI really is the best choice now coz they really offer the highest rate now. |
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Jun 6 2023, 11:55 AM
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#3
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Probation
6 posts Joined: May 2019
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QUOTE(sirius2017 @ Jun 6 2023, 11:42 AM) For PIDM, protection is up to 250K per depositor per member bank. If you are able to open a joint account with someone you trust, eg. spouse/siblings/parent etc, you can get a separate 250K insurance protection for each joint account. That would be great. Thank you so much for the helpful info  |
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