Bank Muamalat 4.5% looks good, anyone got any comments on it?



Terms & Condition:
http://www.muamalat.com.my/downloads/TC_wa...besar_5_ENG.pdf

Visited Bank Muamalat again to clarify previous info. After all the adverts in the newspapers, the other banks can forget about their promos for the time being unless they up their rates.

1) The good news - exactly 100k cukup, not lebih 100k or 101k. I guess the staff must have been getting educated between Friday and now on their new promo.

2) The bad news - bank cheque and personal cheque treated same. Only on clearing can the customer come and collect FD cert. I hope this is wrong but not too hopeful as Bank Rakyat, and Bank Islam also practise this way instead of giving cert straight away subject to clearance like some other banks.

3) For those who still do not have the money yet, a savings account can be opened to receive funds. Normal SA needs RM 100, Bank Negara type Basic SA with passbook only needs RM 30. Waiver only for those poor folks, tak mampu. Withdrawal is only allowed the next day. For those who opt for ATM and Internet Banking, annual fee is RM 12.

4) RENTAS or other bank transfers which can be seen to be external funds in the savings account can be accepted for placement and FD issued when customer comes to place. I hope this won't turn sticky with some people.

5) Bank Muamalat charges are;-
Bank Cheque  -  RM 2.80 after gst.
RENTAS  -  RM 5.30 after gst.
OTC IBG transfer (not ATM or internet banking)  - RM 2.12 after gst.
No waiver for senior citizen - hope this is wrong but then some banks don't and some do.

6)Bank Muamalat is one of those banks who close for Friday prayers and have different Friday times.

Ok, 4.5% needs 12 Months and 100k fresh fund....

No wonder so quiet haha

Muamalat gives monthly interest if amount is RM500K and above.

In Affin to uplift FD of 4.5%. The officer was trying to ask me to stayput the FD. Called the manager out. He said their best offer is 24 mth 4.3%. Similar to what I has reported before. But the offer was in selected branch only and this branch is not included. So the 4.3% is by approval only.

Anyway still uplift the FD. Moved to AmBank for 12 mth 4.2%. Have not been there for quite some time already. But still has FD 4.5%, 4.55% and 4.6% still running ! 

AmBank seems to have upgraded their system. Finished within 12 minutes including signing up for their free Visa Infinite card !
Last time it took like 20 to 30 minutes to place and collect FD cert !! 

U need to be their priority customer (200k requirement unless changed) or join it to enjoy the 4.2% rate.

Unkers aunties have less worries with bigger banks mar.

Convenience ma... Purposely go open a Muamalat account is so troublesome and need all documentation a nowadays since implementation of CRS. And that min amount is 100k - not everyone has it available.

Btw AMB got 5 years special rate at 4.25% min 50k.

Gonna chuck a chunk into it cause so lazy to move around...

Time to move back to BR 4.8% FD

Actually Bank Rakyat is not the member of PIDM. Therefore all the deposits of Bank Rakyat are not protected under PIDM. It's protected by Ministry of Finance.