Dear Mr Tan,
My $50,000 FD was auto-renewed 1 month ago at 1.7%, although the same bank is offering about 3% for other customers.
Probably, after this similar incident was highlighted in your blog, the bank finally tele-invited me to renew my FD at a higher rate of 3%. But I think it is still not fair that the 3% will be effective only from the date when I made a personal request at the bank to renew it.
I trust the banks to auto renew my deposit at the best rates and yet got a lousy deal in return for my trust.
Hazel
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