does time deposit only available for HSBC only? what is time deposit same as Fixed Deposit?

This post has been edited by changjie83: Oct 6 2009, 09:39 PM

"Time Deposit" is what HSBC's version of the Fixed Deposit. Same product 2 different name

Yeah. It is more commonly known as Fixed Deposit here in Malaysia. In UK it is known as "Term Deposit". It has a different name in the USA but actually they all are the same thing.

Malaysia/Singapore
- Fixed Deposit
- Time Deposit

UK/Australia
- Term Deposit

USA
- Certificate of Deposit (CD)

In the USA the banks always advertise these products as risk-free investment

that means the other alternative to get a CC is to inform the bank (is it any banks beside HSBC?) that i have these large amount of fixed deposit, term 6 months.

Say that you were going to apply for a CIMB Bank credit card, your FD must be kept with CIMB Bank. All other banks are not allowed which is why it is called pledged by FD. Please note that this is still subject to the final approval from the respective bank's credit card centre in KL.

And one more thing, you will not be able to lift your pledged FD as long as your credit card is still active and it will take them 2 - 3 months to release your FD completely after you canceled your credit card. This is not exactly a good idea for those who are tight on cash because unlike any other FD you will be able to cancel it anytime you want, just that you might loss partial or the entire interest earned whereas this one it will take time for them to lift your FD because they need to make sure you do not owe the bank any more money before they release it.

This post has been edited by MilesAndMore: Oct 7 2009, 07:59 AM

HSBC offers lower FD interest rate than other banks, i think you better look for alternative banks

The standard rate is 2% - 2.5%. It is the same across all the banks in Malaysia unless they are having promotion. The FD rate will only be lower if your total placement is more than RM1 million.

yeah, PBB 8% cash rebate for august is reflected

My husband just got a call from HSBC - all cards under him (his and mine[supp]) are 'free for life'. His card normal classic card only. We hv both Visa n MCard

PB got new campaign now. PB Smart Rebate 2. 10% rebate on grocery if spend 500 on petrol.

not that interesting compared to the 8% campaign

shud make it 10% if spend 500 on petrol

yes, the current standard of FD interest is 2.5% pa, however the if the placement is less than 12 months, the interest rates may vary. refer to the attachment

This post has been edited by nothingz: Oct 7 2009, 01:37 PM


Attached thumbnail(s)

Interest rate could probably be raised by 1Q or 2Q next year, following interest rate increase by Australia yesterday.

Still a long way to go. PBB seriously need to review its cash rebate rate for normal purchases. 0.3% is just too damn low. Not many people will qualify for the 0.9% rebate (assume you're a PBB VISA Platinum cardholder)


Oh ... 'cause i normally refer only to 1-month and 12-month rate which is why they all look the same to me


Actually local banks expect BNM to raise its OPR the earliest in 3Q of next year. The banks that were interviewed are UOB Bank, OCBC Bank and Alliance Bank. HSBC Bank on the other hand said it isn't too optimistic with the economy recovery as it expects a "W" shaped recovery and not "V" as predicted by some.

The key interest rate increase by the Reserve Bank of Australia is kind of expected. Commonwealth Bank, Westpac and National Australia Bank (NAB) all got it right in August when they told the media that the Reserve Bank of Australia will increase its key interest rate by October. National Australia Bank (NAB) also said they expect the Reserve Bank of Australia to further increase the key interest rate again in December.

This post has been edited by MilesAndMore: Oct 7 2009, 03:22 PM

my CIMB Petronas will be approved and will have separate limit with my CIMB Islamic Card. my question, is it possible for me to have both limit together by canceling one of the card.

i just got sms from citibank on apply airasia citibank card will get free nokia phone..wondering what kind of cheap phone they are giving hehe

No, they won't do that. I know it is logical that you have in total x + y credit limit but they just would not combine it.

Because CIMB and CIMB Islamic are two different business entities. The credit limit cannot be combined. The same practice is observed on Maybank and Maybank Islamic; pretty much an industry practice.

Add HSBC and HSBC Amanah to the list too.

Direct Access & CIMB also the same.