Best promo eFD FTA FD rate for minimum RM 5,000 per placement Bank Muamalat till 31 December 2021.
18 months 2.8 % p.a.
12 months 2.6 % p.a.
9 months 2.5 % p.a.
6 months 2.45 % pa.
3 months 2.4 % p.a.
Procedure:-Open Savings Account with internet banking at Bank Muamalat branch convenient to you.
Check current minimum opening amount and minimum balance requirement for SA.
Deposit or transfer in additional fund into new SA for eFD FTA placement.
Log in and place.
Best to choose automatic monthly profit payment into your SA for best benefit. However Bank Muamalat savings rate is very low and best to transfer out to another savings account with higher savings rate each month with free transfer.

Yes, I placed a number of new FD with Bank Muamalat for various periods since August 2021 as it has the best promo rates with only a small minimum of RM 5,000 avoiding the usual RM 10,000 minimum requirement and expensive pre-conditions at other banks, and to take advantage of monthly payment of profits for use.

Steadypong posted the Bank Muamalat promo picture in page 1005, post 20090 on August 31 2021 03:11 pm in this forum, nearly 1 month after the promo started.

As a new customer, you may need to sign the usual required US related documents when placing FD. To save time, just do everything in one trip - opening, putting in money, placing and sign document.

Just login and can still place for the promo offer.

Bank Muamalat announced increased daily tranfer limit to to 50k effective 12 Nov 2021.

This means can place up to 50k per FTA-i placement instead of 30k before, as can now trnsfer out immediately on Maturity Date to the best promo available at other banks instead of having to delay to transfer out 30k per day previously.

Due to Covid and the need to open OTC, probably low uptake as most people do not have internet banking with their savings account to take up their small fund size offer even when attractive low 5k minimum placement and choice of monthly payment. The increased in daily transfer limit is a good move but a much more attractive feature would be auto-credit principal into savings account besides the existing monthly profit payment feature in order to make their bank competitive with the best practices in other banks.

In general, I really wonder whether some bank managements pay attention to how other banks operate better or not. Do we really need to tell them how to run their FD ops or do their job attractively and competitively? Are many bank managements really so sleepy, ignorant, incompetent or lacking in competitive attitude? If I was a bank owner or shareholder, I would certainly be pissed off and not tolerate some of these backward banks management and practices.

Still Bank Muamalat at 2.6 % for 12 months minimum 5k and can opt for monthly payment of interest to savings account, till campaign ends at end of this year.

Meet the following minimum requirements to become a CIMB Preferred client:

RM250,000. In deposits and investments (excluding ASNB-V)
RM1,000,000. Home Financing & Business Premises Financing.
RM300,000. Hire Purchase Financing.

OTC Invikta promo. Supposed to end on 20 Jan 2022.

kinwawa -Thanks for the news.
Read in their website, that it is FPX eFD, minimum 10k, maximum RM 2,000,000 for 6 months at 2.48 %.
At present appears to be the best offer after Affin Bank Invikta promo ends on this Thursday 20 Jan 2022.
Even better than the existing HLB promo offers.
Hope the other banks come out with better competitive rates for CNY.
Any news whether interest paid on maturity or monthly payment into CASA?

Interest rate are of various types, and they do not behave the same way or in tandem.
Savings account rates are usually at the low end, excluding some special ones usually tied to some conditions. These are the type that may move like OPR changes. There is some idea around that there will be 4 upward revisions in US in 2022 as they try to normalize. In Malaysia, my guess is that this can possibly mean 4 x 0.25% increases in 2022 more or less for the OPR.

In the case of FD board rates, there is a small extra over the savings rates.

However, for us here, the main concern is about the promo FD, eFD and TIA rates.
These are at higher rates, but can either be better a bit or more than the board rate. To me, the rate depends on the supply and demand for funds and the situation of the particular bank to make provision for a certain future period.

As for gaining/losing investors, that will depend on the wisdom or stupidity of the government and its executive bodies and states.

Ringgit valuation depends on demand or lack of demand, unless subscribe to blaming others for oppotunistic currency manipulation due to perceived political instabilty or trust. Normally this depends on how exports earnings are governed/handled - tax wise and whether it makes sense to store the money at a local saving/FD rate that is attractive enough instead of storing it for better return out of the country. So it is up to the government, the Finance Minister and BNM to either set the conditions needed for increase or decrease in Ringgit value. In this, it is noted that
there are sometimes conflicting self interests/groups which may want devaluation instead of appreciation.

Hong Leong TIA-i promo now can apply on its bank website
12 months 2.50 %
6 months 2.40 %
3 months 2.35 %

The following extract from today's bank digest report may help-

AFFIN
Normal Conventional EFD and Islamic ETD online rates

mths rate % p.a.

1,2 1.50
3 1.55
4,5 1.60
6 1.70
7,8,9,10,11 1.80
12,15,24 1.85

AFFIN online promo rates

mths EFD ETD

1 2.05
3 2.35
5 1.60 1.60
6 2.40
8 1.80
9 2.45 2.45
11 1.80
12 2.50 2.50
18 2.52 2.55
24 2.58 2.58

Options at maturity - Renew principal only, Credit to account, Renew principal and interest/profit.

Please check at website whether rates still appicable when placing online.

Anybody know any better rates than the ones mentioned in post 20624 for Affin online promo rates. Looking around to park maturing FD in short term FD unless get better longer term FD. Thanks.

I use AffinAlways for online banking at Affin group. Maximum for Transfer to other bank daily limit is 50k. FPX to other bank is 100k.
MBSB MyJourney online banking recently increased from 9k to 30k max.
No need to use hp app when can go internet on hp and use normal internet banking.

Is there anything better than this extract from bank digest report on promos from a few days ago?
Mth Rate Banks
1 2.05 Affin
3 2.35 Affin, HL TIA
6 2.40 Affin, HL TIA
6 2.48 HL
9 2.45 Affin
12 2.50 Affin, HL TIA
18 2.55 Affin
24 2.58 Affin

There is a mention of CIMB TIA 12mths at 2.58 for Preffered customer but w/o any guarantee that rate will not change.

Please check whether any rates still on with the banks.

HL CNY promo from 1 Feb to 28 Feb 2022.
2.48 % 6 mths FPX.
page 1030, post 20598 by kinwawa.

Rang up 03-8230 2222 Affin's call line, answerer still not informed about Affin Li Chun Campaign on 4 February 2022.
However, was told that previous Invikta promo that ended 20 Jan 2022 had been extended to 2 March 2022.

Have some preparked existing and deposted funds collected for the FPX placement FPX for HL CNY promo 2.48% eFD for 6 months staring on 1 Feb 2022.

Now have to reconsider switching from HL CNY promo to Affin Invikta 3 months and 6 months Affin Li Chun Campaign, on the prospect of promo rates raising due to US rates normalisation and possible impact of decent EPF rates squeezing out local deposits. Unfortunately, no simple decisive advantage like monthly payments as all paid on maturity, so can only tighten belt and wait 3 or 6 months to get the profits/interests.

Earlier, getting ready to place 6 months for HL CNY Exclusive eFD at 2.48 %. Then changed to Affin Li Chun 4 Jan Invikta OTC at 2.53 %. Today changed to HL eTIA at 2.58 %.
Any better rates for 6 months?

To succeed, pay attention to the HL TIA investment placement procedures which are different from normal eFD.

You need to have a HL individual savings account first with HLConnect internet banking login,

Also fill in the online Investment Risk Assessment first time (but the HL TIA promo is at Low Risk anyway not like other TIA).

Placement by money already depositted beforehand in your HL individual savings account (not FPX).

If choose no renewal, then interest and principal will automatically go into the designated SA on maturity date regardless holiday.

With regard to problem at CIMB, anybody here noticed have problems with FD withdrawals, interests amount and number of creditting, and deductions from past including negative balances at CIMB as well as other banks? I do not have an account with or any unfixed FD or TIA with CIMB from a number of years ago. Please reply.

ATTENTION:- CIMB PROBLEM IS NOT ONLY AT CIMB ONLY!!?

Investigations and checks should ideally cover what happened between 24 to 28 January 2022, especially whether any "upgrading changes" opened access to hacker activity, or cause some kind of bug in some bank systems, or some kind of cyber attack.

I am asking readers here whether you accessed various internet banking in other banks between 24 and 28 January or later and noticed any peculiarities.

In my own case, I login to MBSB MJourney on 27 to check whether my FDs monthly interest payments were creditted. Not only were there more extra interest credittings, but on looking back 6 months of viewable records, the balances were all wrong including negative balances! So I did not try to mess up things by withdrawing but informed their call centre about the problem. Reply was they doing some upgrade but should not have the problems I was seeing. In my case, I am happy to see the figures were all correct again before midnight when I checked again.

So far, the question is whether there is a "common problem" for CIMB and MBSB, or whether it actually covers all banks. My guess is that nobody notices much in other banks unless you happen to get monthly interest or automatic uplift of principal and interest maturing then (24 -27 Jan +).

The outstanding feature of CIMB bank is that it was/is promoted as the bank to put in pay since Bank Bumiputera days. On the bare face of it, I would guess it has something to do with the number of times creditting is done by the bank to the customer account like for salary (once) or interests (once or more times).

My last FD with monthly payment of interest was on 12 January 2022 for Affin Invikta FD promo. After that, only interest at maturity for HL TIA recently. I am not so sure about PBB, whether they fully stopped their monthly payment practice for FD. Have not check whether MBSB stopped their special interest rates structure for various long tenors. Also had not checked on whether any change to Ambank policy to pay monthly interest for senior depositors. OCBC was the other bank that used to have monthly payments for their FD promos.
Is anybody still going around to check and make known FD rates and other useful details like monthly payments and funny conditions?