Why nobody talk about Public Bank FD Promotion?

They advertised a full page on local Chinese newspaper for a few days. Never came across any bank ever advertised FD promo in a full one page advertisement in local Chinese newspaper....

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 Wang Lebih Besar  - WLB! 5 RI 2 for individuals who can place 100k for 12 months at 4.5% till hopefully Monday 2 October 2017.

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. As an example if placed on Friday 19 May with cheque, the Effective and FD issued and collect day is Tuesday 23 May 2017. Maturity Day is 23 May 2018.

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. Charges RM 12.60 if savings account become dormant after one year inactivity!

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.
Monday to Thursday 0930 to 1630 hours.
Friday 0915 to 1230, 1430 to 1615 hours.
Call centre 1300 88 8787.

Bank Muamalat had 4.5% promo for some time but for company but now open up to individuals. Probably becuz of customer interest from those who place or enquire about the existing company promo suggesting they would like to place available private individual funds.

CIMB, Affin, MBSB and Ambank recent promos suggest that there is a 100k or more segment for people looking for a place to park their money.

As to 4.5% rate - it is a realistic level to beat inflation and to capture the available money before any general rise in FD rates next month as fallout from expected US Fed upward adjustment.

Usually it takes time and efforts to earn the confidence/trust that a bank is well run, profitable, and stable. So the less established banks usually have to offer better rates and advertise to counter the lack of good reputation perception of the public especially if they need to compete or face the possibility of declining future funds. This is especially so for less visible and less well-known banks with fewer branches.

As for the question of RENTAS or Bank Cheque. Ideally RENTAS is claimed faster but some people get into some practical problems because slower than expected! Most people are not so unlucky, but then how often do they use it anyway? It is not foolproof as there is always the possibility of system down etc at the wrong time.

Bank Cheque gives the flexibilty to change at the last minute to another bank in case of new developments. Although may be slower due to 2 bank operational practices - 1) time and procedure to issue Bank Cheque by issuing bank, 2) clearing requirement at placement of FD - whether Effective Day and FD cert issued immediately or have to wait for clearing and come again thus slower. But this slowness depends on the level of operational efficiency of the two banks, and if both the slow reasons are absent, obviously Bank Cheque is the better choice.

So in short, the answer is it depends on your good luck, or your knowledge/experience of the bank branches in question.

I have two bank CIMB and MML on the same row in my place. I opted to go to CIMB for the 4.15 as I don't have 100K with me. Got umbrella, pen and their mascot optoposs. No wonder not many people go for it even when it wednesday wow day promotion as MML offering 4.5! I move from ambank which offer 3.25 and maybank 9 month at e.f rate of 3.95 and UOB at 3.9 as I don't have the 100K to enjoy their special rate. CIMB staf told me if you got 250K - you can enjoy special rate!!!

I was in CIMB to withdraw earlier placed 4.2% FD (placed 2 weeks ago). The counter girl told me that. 2 weeks ago the BM called me saying the 4.2% will be dropped, which I reported here. But she asked me to call her to get the 4.2% rate. Have also reported here 2 weeks ago. Anyway as I am not interested in the 4.2%, so did not talk to the BM or RM. Friday CB FD/UT combo of 9.99% FD 3 mths. Monday going for Bank Muamalat 4.5% !

Until Muamalat drop the campaign, then may enquire with CIMB again. They are the next highest for 12 mths FD ! 
Ya, I have said they are ending by May 31st. So I caught it on Friday before they end the campaign !
Doubt if they will entertain 250-300k. They have raised the AUM to 400k, don't think they will accept 300k. Previously before going to 400k, they allow old Citigold customer to maintain <300k. Now they are asking ALL to go to 400k or above or risk cancellation. 

Getting monthly interest from Muamalat 4.5% promo?

Nope didn't get it.

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No compulsory requirement to open bank account for FD at Bank Muamalat.

However some depositors may find it convenient and cost effective for transferring in funds from other banks before placing a FD (minimum 100k per placement for the 4.5% 12 months offer (out of 13 different offers). This depends on the savings on actual bank cheque charges from banks versus internet, atm card or OTC transfer alternatives which differs for different banks and customers. So this depends on your own situation.

The other reason is for saving some money from bank cheque and personal cheque clearance delays where the effective date is later and the FD cert needs to be collected or delivered later. This is RM 12.33 per day delay for 100k besides the inconvenience.

The final reason is for those FD depositors who somehow qualify for monthly payment of interest where a saving account becomes "required".  

So the answers depends on you whether NO, VOLUNTARY BENEFIT, or REQUIRED.    

Need otc to get this? Or online also can? I juz renewed at 3.75% 6 months 😣😣

is this still available?

Which FD you are talking about?

So you are talking about Bank Muamalat lah..

I think 4.3% for 1 year from Bank Muamalat is the best so far

When did you manage to get the 4.5%?

For 1 yr FD, current promo range from 4 to 4.2%. 4.3% is rare, MBSB case is nego for me.

AmBank promo seems to be the best for now, 4.2% with possibility of monthly interest. 

Telephone survey Wed 25 Oct 2017 before Budget and end of October 2017.

NO FD PROMO NOW at
Alliance Bank, Bank Rakyat, Bank Muamalat.

FD PROMO UPDATE
Bangkok Bank 5k minimum FF promo till 11 Dec 2017.
3 mths at 3.85%.
6 mths at 4%.

Bank Islam 5k minimum FF for tawaruq TD (term deposit) till 31 Dec 2017.
9 mths at 3.9%.
12 mths at 4.1%.
18 mths at 4,25%.

OCBC Bank 10k minimum FF OTC only. Choice of monthly interest paid into SA or end of tenor interest at same rates. Islamic promo at 0.1% higher rates.

6 mths at 3.8% conventional, 3.9% islamic.
12 mths at 4% conventional, 4.1% islamic.
15 mths at 3.9% conventional, 4% islamic.

UOBM 10k minimum FF from 16 October to 31 December 2017.
12 mths at 4.2%.

Hong Leong Bank
Wait for November PayDay Special promo announcement at HL websites on Saturday 28 October 2017.
Wait for promo announcement on Thursday 2 November for special opening rate for Damansara City KL branch.

Other banks under active forum discussions, special T&C and  changes not covered. This survey is just to plug the record hole for those interested in possible before and after effects at this time.

so anyone here get the renewal from muamalat same last year 4.5%? or any better deal recently?