Anyone have more information about Maybank promotion ?

Islamic means GIA which is investment link? not conventional FD right?

Usually local bank will take it as today date.

wonder why next monday? cheque no clear tomorrow?

I dont know, "senior" relationship manager is going to conference tomorrow. lol. Asked her to help backdate lol no outcome yet.

Any T&C for 4.88%?

Each bank has own peculiar ways of doing things - it is only a matter of time whether you are sharp enough to notice the differences and changes as you move your FDs around.
Some branches of banks even do things in ways different from other branches. If you question the bank managers or the persons in charge of various operations they could end up confused when compared with other branches and they may end up consulting and phoning here and there to check if they take you seriously. Usually I do not take the call centers and websites too seriously when the subject is FD promotions or operational instructions - probably way off their training and updating.

Which branch you went? and how the golden chicken looks like? 24k gold plated? lol

Got picture to show ah? Hehehe

10 X RM30,000?

How u do it? the money from many banks as the the amount normally set to 30K daily.

Or u do in fewdays?

Hi guys,

I'm new here. Been in  Australia for the past 27 years and am looking at moving back to Malaysia in a few months time. I am honestly a bit scared about the move back home and a bit nervous about my investments in Malaysia. I don't mean to brag or anything, just want to be honest about my situation and seek some advice. I will have about RM 2 million balance (mainly due to the strong Aussie dollar) after buying a house and a car, and was wondering what's the best thing to do with the 2 million.

I thought about investing in FD, but am I right in assuming that the Govt will only insure RM 250k? This being the case, I guess I will have to split the cash and deposit to a few different banks? Or is there to your knowledge bank(s)/schemes that will have government protection over the whole amount? If there are better options available, please let me know.

Any advice will be greatly appreciated. Thanks.

Thanks so much for the response. In terms of the 5 year FD, will I be able to withdraw the interest on a yearly basis or will I have to wait for the five years to lapse?

Cheers

Yes, I am. My reason for coming now is basically because I feel it's the right time personally and I wanted to convert the currency now because I don't believe the RM will stay this low forever. I might be proven wrong however but historically speaking, the AUD to RM has been at around 2.8-3 instead of 3.35 as it stands now. My family members think that I'm mad for wanting to come back, but I see it as being a lifestyle change. Politics etc don't affect me as much as others as  I'm still single. Don't think I will return to Australia as I have no real attachments here, but I guess I can't say never. I might just rent in Malaysia for the first 12 months, see how it goes as you suggested, but I still think I should convert the cash right now. It's speculation of course but I don't see the AUD being this strong for much longer and the RM being this weak.

Is this Maybank? Can you let me know where do you see this?

Can do online or not? Any reference to the promo? Later bank officer don't know ask me where did I see, tell them I see in lyn?

regarding the monthly interest matter, is that if one withdraw before maturity date, the bank would deduct all the paid monthly interest from your principal amount while withdrawing?

i tried that before with hongleong, the credited monthly interest into saving account deducted from principal, so the net amount still the ori deposit amount, bank won't make loss on this matter.

seems it juz more convenience for ppl to use the interest before maturity only

if can't maintain better don lock on so long.

That's true, I do hunt for places whereby most banks are close to one another.

Because it's 8 months @4% interest the effective rate is 2.666???  If malaysian standard of mathematics is at this level, we are doomed to be 3rd world country for a long long time 

Well its very simple ... all banks advertise their interest rate by " P.A. " which means Per Annum, it's a simple english word that means A Year or every Year
which can further mean those 3 mths / 8 mths / 10 mths types of FD at X amount interest when you think logically if you put less than a year do you think banks (aka licensed loan sharks) will give you that advertised X amount interest ? it's marketing tactics !! Even newbie like me knows about it, simple maths people. But i agree it would be much easier if all banks advertise effective rate rather than P.A. the world would be a better place.

with that out of the way, after some very tired "musical chair" playing, decided to make my FD to OCBC Bank 12mths@4%, anyone on the same page as me ? any advice or things to note for this OCBC FD?  i humbly thank you in advance.

wow so much drama here ... how did my "that is only 2.666% is a little low IMHO" turn into bimbos and pizzas ?
why am i also getting hints that i reported someone's post too ? i welcome all opinions and live in peace, do not have the time to report people
i only mentioned the E.R. for HLB is on the low side in my opinion, what say others ? suddenly bimbos and pizza comes in ... nice jokes

@deal hunter ... seems like you are the only one who gets what i am saying 
      even after i kindly break it down for you ... well if you say so pal cheers whatever floats your boat
Interest Rate = Interest rate / Marketed Rate
Effective Rate = Actual interest Rate you finally get which will be used to multiple with your deposited amount (some banks have started using this term like Maybank 3.91% rate promo)