Actually, at what point in time do we start a whole new thread version?

guys, I went buka one joint FD today and got the shock when the bank told me that even though the account is "either one to sign", both person must be present in order to withdraw that FD.

Doesnt makes sense to me at all. The bank says its a new BNM ruling. Anyone heard of this news?

Ive tried before, they say I will lose the interest and I have to withdraw the day after the maturity date
Please try yourself and report back here

I have this problem with Public Bank.....make me go 2 times to uplift   

I did "argue" but you must understand these are not the type of person you want to shout and argue with lol. I don't want to piss off anyone as I still want to go back to place more FDs
They explain that joint accounts either one can withdraw the interest only which again don't makes sense since I select auto renew with interest

Anyway I want to ask this - does all your FD receipts typed written there "either one to withdraw" ?
Long time ago it does but few years now it just have two names there and Not written anything

Well. I know what u mean.
But mbb can declare the fund not performing oso right?
Not necessary that mbb having financial problem.
Jz mbb use the fund money to invest on high risk investment.
Mean if the investment gone bad doesn't mean mbb having financial problem right?
Did mbb need to bear the responsible if the fund not performing/burn?

Hong Leong and Public Bank both pay. PB will pay out cash, HL bank into your SA. Still better mention it to them when uplift OTC. No experience with CIMB. 

Hi,
I have a question there is a investment plan from insurance co.
i.e. invest 3600.00 per year for 10 years,  and returns is 17% (612.00). This is guaranteed for 10 years.  the next 10 years, return is 33% (1188.00) per year.

End of 20th year the investment of 36000.00 returned.

Q: is this better than FD investment or I am missing something here?
Advice is appreciated.

Thanks

got one staff from cimb call me
ask regarding the branch n the staff...
frankly say,i cant recall the staff name but i did tell them is cimb jinjang

then he say dunno who kinda hard to take action....
anyway,he call me back after he make a call to cimb jinjang
cimb jinjang branch manager told them that they got provide BSA as usual.....
what else to say?
dishonest n try to cheat customer la.....

the cimb staff ask me to go back the branch to close the saving account with annual fee.....the annual fee will be waive.....
then can open a BSA with them for the interest......
i wonder what will happen when i go back the next day for the BSA....lols.....sure alot black face....

the debit card tagged to BSA (either type) will not be charged the annual fee, that is what I was told and so far I haven't been charged anything on the debit card.
perhaps other can confirm?

bank muamalat.
4.5% 12 months.

http://www.muamalat.com.my/downloads/TC_wa...besar_5_ENG.pdf
http://www.muamalat.com.my/consumer-bankin...ih_Besar_5.html

Hello,
I check online if interest 4.1 p.a
Year Year Deposits Year Interest Total Deposits Total Interest Balance
1 $0.00 $417.79 $10,000.00 $417.79 $10,417.79

If UOx the final interest should RM 410
If you CIXX received "Profit to be Paid", I don't know every month fixed of not, if fixed the final interest > RM 417.79 and not counting compound interest.

I surprise of this !!!
This is because "Islamic" or "CIXX" very fair?
If like that sure very support "CIXX" not "UOx" because the "extra" can cover BC fees and more than UOx. Very great.

Everybody same situation, do you know how this "Islamic CIXX" counting? Can show the formula.

Thank you.

In anticipation of some BR funds maturing on Monday, I have already opened a savings account at Bank Muamalat today. First time the branch manager came to talk to me & gave me his name card. Everything same as per reported here:
- if cheque, effective date is the next day
- monthly interest if RM 500k & above

OK, update on yesterday Bank Muamalat's FD.

Totally dismayed with this bank !! 

On Monday I placed the 4.5% 12 mth FD with personal cheque. Received the FD cert (which was shown here) but effective date 1 day later. Was expecting that may get the FD cert on the same day but dated on Monday.

However, was told CANNOT get the cert on Friday and effective date on Tuesday, used personal cheque !! They said new instruction from HQ. Bank Muamalat has encountered a lot of cases where cheque bounced and they want to ensure that cheque are cleared before issuing FD cert and effective date !

The last time I encountered cheque clearance of 2 days was with HL Islamic FD >2 years ago. But still receive FD cert same day. Heard now HL Islamic FD do not have this 2 days clearance issue.

Told them that other banks are issuing cert and effective date same day even using personal cheque. Their officers tried to convince me that they know this and have feedback to HQ. They are trying to work out a best practice SOP.

Based on what has been reported the last 2 weeks, looks like there is no SOP in Bank Muamalat !!

Confirmed below (or will it be changed soon  ):
- 500k and above in one single cert then will get monthly interest. Cannot be 250k X 2
- no Priority Banking for this bank (they said I will be treated like their PB  )

I was even thinking of pulling back my cheque ! 

Then they keep on trying to convince me. I said I am reluctant to come to collect the cert on Tuesday. Offered to send the FD cert to me on Tuesday. Offer accepted. 

As another "compensation", was given one more golf umbrella. 

So lose 4 days interest due to Friday placement ! Thats why I regretted that I did not open a BSA on last Monday when I placed my FD. Then would be able to RENTAS or ibg the dough in and will not lose 2 or 4 days interest.

Not sure if I will put in another FD there if another bank has similar offer in the future ! 

But if go for CIMB 4.2% or Affin 4.3%, difference of RM600 or RM400 for 200k. Buy even more bags of 10kg Sunwhite AAA premium frangant rice. What is your choice then ?   

One of the pioneers in this forum got the same 4 days lost. Another one 3 days lost. Both placed on Fridays.  Damx inconsistencies in their administration of FD eff date ! 

That 3 day versus 4 day delay may not be a wrong SOP thingy but may be due to time the cheque put in and processed fast before say 11 a.m Friday. My personal cheque went in after 11 a.m. The best time and day and how  the bank staff and system works, also always played a part when dealing with short term money, forex, transfers and trade documents.

The question of the extra weekend days as posed by nbi Friday 01:20 a.m post # 2355 if effective on Friday is still unanswered. Maybe guy3288 can answer this question if his Placement Date was Friday 2 June, is his Maturity Date on Saturday 2 June 2018 or automatically adjusted to Monday 4 June 2018 like Bank Rakyat and UOB will do.?

I have complained and the senior staff said they have heard similar complains and was feeding back to HQ. That other banks accept personal cheque and FD eff date on day of placement. It looks to me they may not have been focusing on consumer banking before ?

My placement was done around 12.20pm. Sat morning CB sent an SMS saying cheque has been cleared from my account.

My grouses was tamed when they offered to send the FD cert to my house. 
Anyway someone else also said this bank has no PB program. So the officer told me no such program but I will be treated as such !

Can see online debitted same day as placed on Friday 19 May morning as follows:-

19-May-2017  INWARD CLEARING CHQ DEBIT 14xxxx  RM101,000.00

As for presented and validated? What does this really mean practically? Is this not something entirely dependent on what the bank staff will actually do on a Friday with a break like at Bank Muamalat?

How about Affin 18 months 4.5% promo? I just remekmbered about this promo & thinking should I just eventually stick with Affin instead.

Thanks for your reply.

But if bank staff is slow to scan the chq, then what happens?

If Bank Muamalat has no valid reason, why BNM not pressing them? (Or for that matter, Bank Rakyat and Bank Islam as well)

Not too familiar with this type of interbank xfer. Was thinking even if my acct debited, but another timing is when the other side receive the money. It won't be immediate, right ? Next working day ?

any bank giving monthly interest ....

so far the good deal as below

Muamalat bank 4.5% per year for 24 months

affin bank 4.25% per year for 12 months

cimb bank 4.10% per yearfor 12 months
however all above only payout interest upon maturity ....
btw, why bank giving high interest rate especially 4.5% bank, running out of liquidity ????

Still less than if one manages to get monthly interact from the 4.5%