If you placed the FD with Islamic banking then no cert will be issued, only statement.
For conventional FD you need to keep the cert for renewal or withdrawal. Missing cert RM20.

Went to ocbc yesterday, the premier customer counter staff told me the FD promo rate is for 3 months and 6 months only. 3 months 3.95% .....nothing mentioned on 4%.

Thanks. The Penang premier counter staff must be sleeping. Have withdrawn that day and placed it at Am bank, 8 months 4.08%

EPF will be annoucing the dividen tomorrow. 2015 was 6.4%. Market expects 6%. It is still good to place rm60k max for those self-employed. current bank interest rate range from 3.9 to 4.05%.

I think they may extend the target date on fund size for another one to two months.

Last week was at Am Bank took up the Signature Priority Banking 4.08% for 8 months FD. Interest is not monthly paid. The TD-i is better. How come the RM didnt recommend this? Must check with her later on.

You do not need to have 200k first before qualification. You can top up existing money (FD) in Am bank to qualify the priority rate of 4.08%

Thanks for your excellent effort. I am not aware of CitiGold promo. It started in March? UT FD bundled sounds attractive.

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Very unlikely BNM will follow FED because our economy is not performing well. Last year inflation was up due to GST. This year inflation will continue worsen due to weak ringgit. We are seeing a cost push inflation and Malaysia economy is moving towards the down turn phase, increasing the OPR will worsen the economy further.

US reported high oil inventory and this will affect the oil prices and hurt the country revenues. To stimulate the economy, government is depending on China on its fscal policy as government has no excess money on spending.
BNM has to play with the OPR on its monetary policy to spur growth. Increasing the OPR will reduce the money supply in the market and will drive down the economy. Personnaly I think the OPR will remain throughout in the next 6 months.

if Malaysia economy can recover in 2-3 years with GDP climbing up and with a demand pull inflation, then only a big increase in OPR is possible. There are also other external factors which will affect the OPR. Ringgit exchange rate, BREXIT effects (BNM reacted to it when British voted BREXIT), South China Sea tension, Trump economic policy, global economy etc.
Ideally 36 months at 4.35% is good to lock in but now Am offer is 60 months. Nobody has the crystall ball. If one perceives the economy will not be doing well in the next 5 years, 4.35% is a good rate.

This post has been edited by gsc: Mar 10 2017, 01:23 AM

CB is having housing loan promotions and they need the fixed deposit fund to bridge the gap.

No other promo from CB. Just found out CB gives zero interest for NZ and Aus dollar time deposit since last year Sept.

Islamic is statement based which is very convenient compare to traditional which is certificate base. Missing certificate has to pay I think rm20.

Yes, a statement printed on A4 paper. Not even need this paper to renew or withdraw. Conventional FD must have the certificate for any trasaction.

That 12 months step up is for Islamic Account. PB is loose on fresh fund definition.

PBB always allow me adding few hundreds or even same amount for promo rate.

My NZ FD with no interest was auto renewed and I have to pay 1% penalty for premature withdrawal.
RM was trying to sell the investment bundle.

By the way, I went over to MBSB, the counter girl said current promo is 4.05% for 12 months. Thought i saw in this forum some one mentioned 60 months 4+ %. She looked puzzle and said no such promo



This post has been edited by gsc: Mar 19 2017, 03:12 AM

UT service charge is 3%. The return has to be x + 3%.

Ambank has bundle offer with ASNB-V. FD 8.88% for 3 months. End 31 March.
8 months FD 4.08% promo till 30 Apr

Counter placement has to withdraw from counter. Any branch.

Which Uob branch?
Just went to Penang branch, they said no such offer.
Btw, they offered 3.9 percent for renewal of my matured FD. Didn't take the offer

May be your amount is big. RM was asking am I moving out the fund and then place back again?
With 4.5% inflation and FD 4%, the net is -0.5%. FD return will be bad if inflation rate continue to climb up.
Glad that I have moved my fund to properties end of last year.

Saw in the news that BNM has removed bank reserve requirements. This is unusual, usually most of the central banks will reduce bank reserve requirements instead of removing it.

Bank reserve is one of the monetary policies used to regulate the money supply in the market. Reducing bank reserve will mean bank has more money to loan out, the multiplier effect will stimulate the economy. This may mean banks do not need to give FD promo as they can use the reserve money for loans.

BNM movement is reflecting Malaysia economy is not growing. Government is depending on China investments to support Malaysia expanding fiscal policy. Malaysia is having cost push inflation now and the outlook does not look good as consumer and business sentiments are negative on future.