Hi all, can I check now the best interest rate is Go7 2 years effective rate 4.65% at Bank Islam?

Not sure if Bank Islam is less secure than affin as at least the latter is public listed.

Lastly the hong leong 4.38% only online? Can I do otc? Thanks to all answers as I have big fd up on 7th Feb.

I think amb, cimb, you need the atm card for internet banking, at least this was what they told me. Unless you cancel the debit card? You still need to pay for the first 8 ringgit unless they waive it for you?

Today went Affin Bank, 13 months @4.15%

Got latest promotion but not declared (to be given by branch manager) 24 months @4.35% Islamic. Conventional is 4.45% but need 5% of principal to CASA.

OTC.

4.15% can be for 13 months. no need 15 months. I went Permas Jaya JB branch.

I placed it on 14th May 2019, 24 months at 4.35% (should be more than 24 months but they gave me 24 months), amount is more than 50k. As I explained this promotion not published, it was a sheet of paper where the instructions are the branch manager need to negotiate with the client. ie do not give the rate unless really necessary.

Maybe this promotion no more or only restricted to that branch though I doubt so. I will confirm in June if this promotion still valid or not.

I just went to make a placement in Affin bank. Go for Islamic fd which is 4.23% without CASA, conventional FD is 4.48% with 10% in CASA which is not as good as 4.23%, all 15 months.

But the bank made me open a new Islamic Saving accounts, costs 10 ringgit because of joint name. They claim under Bank Negara law starting in June, Islamic FD interest payment can only go to Islamic savings account, not sure if conventional interest payment can go to islamic one. Anyway troublesome and costs 10 ringgit and another 100 for deposit.

A bit stupid but I guess they just want to follow the rules. Lazy to argue with them over 100 ringgit.

This post has been edited by joeblow: Jun 12 2019, 04:34 PM

According to them, joint name savings account need to pay 10 for tax. Single name account no need.

Hmm this confirms my theory. In terms of enforcing rules, Affin Bank lacks other bank. From this thread I already seen a couple of confusion and treatment.

Eg my case, I was told starting in June or July Bank Negara has advised banks to follow strictly the rule that Islamic products' return must be credited to an Islamic saving account. Thus I was required to open a new Islamic saving account for this 4.23% promotion and cannot use conventional saving account. Strangely Affin will charge 10 ringgit for joint name saving account.

Actually RHB has the same rule too I remember, Islamic FD interest must go to Islamic saving account.

FYI 4.23% for 15 months still available as of today.

Hi all,

JB Permas Jaya Branch, Affin today just went to place 15 months 4.15% under Islamic. Never ask if under conventional ok. Must be 15 months and cannot be 13 months. This board rate of 4.15% will last only until tomorrow as per the branch manager.

Hi all quick one. Cimb tia 6 months 4.0%. Works like fd except no protection from pdmm. Tia will failed if only bank goes bankrupt. So far I already placed two tia otc and issue receipt like fd, sees online too.

Ocbc special promotion 3.85% one year. Seems need manager approval and got min amount.

This post has been edited by joeblow: Nov 14 2019, 02:33 PM

Wow... the branch manager misled me. This sucks... Originally I wanted to take the 3.9% for 6 months FD, I guess they earn more from this. Gosh I will check if 6 months later indeed will give the full 4%. I will no longer trust the branch manager anymore. She said this is actually same as FD with FD like certificate and number...

When I do investment product in China, they video record the whole process to make sure the customer knows. For Malaysia case, really no point unless I have recorded the conversation. Now I have the option of withdrawing the TIA, penalty in theory based on previous poster's pdf link is half of the accrued interest. If no big disaster, I think should be safe. Anyway I will risk it for 6 months and see the result. Tomorrow will go to bank to check then decide on the spot.

Not sure if this is a pure FD?

Quick update, ocbc Islamic fd 1 year 3.88%

Quick update, just went cimb 3.9% for 6 months. Never ask conditions etc. Went Ambank 3.95% both 6 months and 1 year FF with 10k in savings. They don't hold the 10k, meaning can withdraw next day. I chose Ambank in the end since 10k can withdraw anytime.

I also don't know, had to bring cash 10k to deposit in. I suspect their IT system not able to hold the amount and later check for it, thus makes it blurry.

If system is not able to hold and track, eg make it unavailable to withdraw, very hard for them to enforce. They only say when they create the fd, account need to have 10k.

Lately a lot of discussion on the TIA. Let me chip in on my experience today.

Went HL Bank, asked them about the TIA promotion, seems like their front desk all do not know what it is. Even the tellers need to ask their operation behind to know what it is.

Seems like you need to first apply it online to get the 4.28% indicative rate, in the end I gave up because online just doesn't let me do it. Don't know why.

So I went for their OTC 3.9% for 6 months. Cannot get the 3.98% online too. That one apparently you need to click on the promotion, then it will direct you to your bank to do the transfer. Not sure if people can just online place the FD from their CASA in HL. I was told cannot.

AMBank is 3.7%, RHB 3.83%. Seems like for the bigger banks, HL now is better abeit at 3.9% only. CIMB Preferred also 3.9%. All needs fresh fund.

Hi there can I check if the bank if Bangkok rate still available? Just asked HL is 3.65% I think OTC. Or at worse 3.6% both for 6 months. Ocbc 3.55% 12 months no special conditions?

I will call them later to find out. Website might not be updated or they may have special requirements.

OK just called them. 3.85% still available, until limit reached with no other conditions. OTC opening only fd account with no casa and they do not have Internet banking. Though Bangkok bank is relatively big in Thailand, not sure how it is in Malaysia. Fri will decide as the amount is quite big.