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 Fixed Deposit Rates In Malaysia V. No.15, Strictly for FD Discussion Only

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contestchris
post Nov 28 2022, 11:38 PM

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QUOTE(LOLmama @ Nov 28 2022, 10:21 PM)
user posted image

user posted image
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Is it consider good? That 4-month rate is well worth locking in, at most will miss out on 1 OPR increase only, then can reposition funds.

What's the catch? I have never used eFD before since my RHB Smart Account was giving very good yields, but 3.75% vs 2.85% is too big a difference.

What will happen in 4 months time (if I select 4-month placement option)? Where will the money go to (principal + interest) - will I need to manually transfer back to my bank account? Or will they rollover into a "base" FD rates? If so, any penalty to withdraw then?

How is interest computed for FD? Is it RMx * (3.75% * (4/12)) or RMx * ((1.0375 ^ (4/12))-1)?

Edit: Can't apply at the moment, only 6am to 10pm.

This post has been edited by contestchris: Nov 28 2022, 11:53 PM
contestchris
post Nov 29 2022, 11:43 AM

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I placed efd at M2U but after FPX transfer it fails to load back to M2U. Money has been deducted
contestchris
post Nov 29 2022, 11:46 AM

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QUOTE(cybpsych @ Nov 29 2022, 11:22 AM)
yes, mbb efd cannot withdraw same day

also limited operating time from 6am-10pm only.
did you follow the steps?

Step 6: To enjoy higher rates, select ‘2, 4 or 6 months’ as your term, enter RM5,000 or more and select ‘Credit to account’ as your profit payment mode
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How long did it take you for it to be reflected?
contestchris
post Nov 29 2022, 12:18 PM

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QUOTE(kwokwah @ Nov 29 2022, 12:12 PM)
I did it last night. It was refunded this morning to the originating bank. Don't know why.
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No reason given? Can they do like that?

I expected efd transaction to be transparent in real time.
contestchris
post Nov 29 2022, 02:12 PM

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QUOTE(CommodoreAmiga @ Nov 29 2022, 01:51 PM)
Maybank rates are usually among the lowest. They are cash rich and don't really want your money.
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But this promo the rate quite okay right?
contestchris
post Nov 30 2022, 09:04 AM

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Nothing in my Maybank account, and no refund to originating bank either.

This is just bloody messed up!!!
contestchris
post Nov 30 2022, 11:19 AM

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QUOTE(Garysydney @ Nov 30 2022, 10:48 AM)
No lah.

Mbb haven't tested their system properly and just launched it. Probably only started working properly this morning because those who applied complained.
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What happens to those who applied yesterday? Manual approve or system refund?
contestchris
post Nov 30 2022, 04:21 PM

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I lodged a report with Maybank. They just called to say yesterday they had too many systems issues, and as a result the transaction unsuccessful. She confirmed I will be refunded but not sure when, so far no refund yet.
contestchris
post Nov 30 2022, 06:21 PM

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I am quite shocked Maybank is like this to be honest. Always though they were the gold-standard for Malaysian banking.

I also have Affin Bank account. Any feedback about their latest promo? 4 mths @ 3.85%.
contestchris
post Nov 30 2022, 09:24 PM

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QUOTE(BrookLes @ Nov 30 2022, 09:19 PM)
The thing is, they are not supposed to "refund" to you but they are supposed to just backdate the FD to the date you make the placement.

Cannot believe those people really dun have basic common sense.
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This is the correct process, but according to the CS, they cannot manually do it as they have "a lot of system issues" yesterday. I won't be surprised hundreds/thousands would've been affected.

I'm considering reporting to BNM. They shouldn't be allowed to do FD promotions unless they can support whatever happens.


contestchris
post Dec 1 2022, 10:13 AM

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Just got my MBB FPX refund.
contestchris
post Dec 1 2022, 10:14 AM

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Guys, I'm trying to trf a sum of money (under rm30k, within my transaction limit) to Affin from RHB but I keep getting error "Opps! There seems to be a slight issue. Please try again".

Anyone faced similar issue before or have an idea why I might be facing this?
contestchris
post Dec 1 2022, 11:23 AM

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QUOTE(harmonics3 @ Dec 1 2022, 11:22 AM)
After how long? I placed mine last night thinking everything was resolved but also same, now money deducted from Ambank but nowhere to be seen in MBB.  sad.gif worst eFD experience so far!!
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48 hours, I made placement on Tuesday morning
contestchris
post Dec 3 2022, 08:50 PM

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QUOTE(Garysydney @ Dec 3 2022, 07:30 PM)
Totally agree.

The rate should be shown with the amount (as well as the fd term) before we are asked to confirm the transaction. Most of the eFD would have that as a minimum standard.
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Yes can confirm Affin efd is like this. So much more transparent and nothing to hide with vague shit hidden in T&Cs
contestchris
post Jan 16 2023, 08:52 PM

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Why is everyone here saying interest rate is reaching its peak for this cycle?

We're not even at our pre-pandemic levels of 3.00% - 3.25%! And given the historically high interest rates, there might be chances for even higher rates this year.

Key thing is, none of us have a crystal ball. Extremely premature to make blanket statement such as this.
contestchris
post Jan 19 2023, 02:58 PM

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OPR stands pat!

This post has been edited by contestchris: Jan 19 2023, 03:00 PM
contestchris
post Jan 19 2023, 03:06 PM

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QUOTE(Human Nature @ Jan 19 2023, 03:03 PM)
Sucks. Political pressure at play?
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Uhh why ah…there is no pressing need for another hike. MPC statement is worded “watch and see”. They want to digest the cumulative impact of the previous hikes first.
contestchris
post Jan 19 2023, 03:06 PM

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QUOTE(voc8888 @ Jan 19 2023, 03:02 PM)
Memang dah expected dah  sad.gif  dry.gif
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Serious? 18 of 19 investment banks expected hike. Only Nomura was saying maintain.
contestchris
post Jan 19 2023, 03:26 PM

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QUOTE(virtualgay @ Jan 19 2023, 03:23 PM)
OPR up help to stable our ringgit... why not just go up till like 10% so our ringgit can back to its glory days?
at least USD to MYR is 3.50

anyway never really understand OPR vs our ringgit vs economy
all i know is OPR naik FD naik
other than that totally no idea how it really works or does it actually work to combat inflation
if i meet DSAI i sure will ask him how OPR can help battle inflation
OPR naik roti canai naik
OPR tak naik roti canai will also naik
OPR turun pun roti canai naik
from RM1.00 to RM1.20 before MCO
during MCO also go up to RM1.50
now after MCO roti canai also up to RM1.70

even RM1 nasi lemak no longer available
so can bank negara explain why OPR naik so many times yet my roti canai never turun!
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It’s such a simple logic at its core (though there are various complexities in real life). If OPR go until 10% a significantly larger portion of our monthly income will go towards servicing debt. Means we got less income to spend on other stuff (both essentials and also discretionary stuff such as car etc)…which means less demand, which means low or zero inflation.

This may not make sense at individual level, it works at a macroeconomic level.

This post has been edited by contestchris: Jan 19 2023, 03:27 PM
contestchris
post Jan 19 2023, 07:33 PM

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QUOTE(adele123 @ Jan 19 2023, 07:25 PM)
Rhb eFD and eCMD-i

4.08% 8 months.
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Link? I don't see this promo on their website.

Also, is CMD same as FD?
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