Called Bank Islam on 4.5% for 12 months, however they say the 4.5% is not guarantee as will change if the OPR change. So this is not a FD?
Fixed Deposit Rates In Malaysia V. No.15, Strictly for FD Discussion Only
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 Jun 6 2023, 02:28 PM
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Jun 7 2023, 11:36 AM
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Called them again, the rate does change during the tenure. They clarified that its based off OPR (OPR+1.5%). Any changes up/down will be average out during the tenure. In addition, this is protected by pidm as well, so not the same as those TIA.
QUOTE(nexona88 @ Jun 6 2023, 04:43 PM) what they mean is... if there's new FD placements... and OPR changes that time... so the final rate offered also changed... whatever FD placement made before the OPR changes... they must honor them.... they won't give the new adjusted rate...  |
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Jun 7 2023, 02:47 PM
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My infor is from the customer service and later a bank officer called me back to confirm the calculation for changes to the OPR. It is not a TIA as they consider this as a deposit product, hence covered by pidm.
Did you get your info from the branch manager? QUOTE(joeblow @ Jun 7 2023, 11:45 AM) I don't think this is true. I did not sign any form which states what you stated. It is FD. Not TIA or Structured product. Who did you confirm this with? Some random staff or branch manager? I confirmed with the Branch Operation Manager. |
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