joeychin: so which bank is offering 6-7% for FD RM500K?

i got rm100k on hand

which bank can offer high fd rate?

Certain banks such as AMBank and Alliance Bank can offer you a higher interest rate if you can commit to a 5-year contract. Anyway, if it is just for 12-month tenure or less, then the interest for all banks are more or less the same. Banks such as AMBank and RHB Bank are offering 3.10% for 12-month tenure while Agrobank and Affin Bank are offering as much as 3.30%.

so low
for rm100k, only get rm3300 pr year

Unfortunately that is the best you can get so for for 1 year placement. Anyway, you can expect the interest rate to go further up next year.

Half into FD, half into Amanah Saham Wawasan/ASM/1M . What say you?

This post has been edited by chemistry: Nov 19 2010, 11:04 PM

amanah saham for malay rite?

Not quite true. Unit trust is amanah saham too.

If that's low, putting is savings account is worst. Play stocks high risk but gain also more

If you got children, then you can consider Hong Leong Bank Junior FD where they are offering until of this month 5% for 4 years tenure. Interest is paid monthly into the Junior Savings account where the rate is 2.75%. Also you can withdraw in multiples of RM3K without any penalty. Go to HLB website for more info. The best rate I know so far until joeychin2323 mentioned 6-7%.

Yah, joeychin found out which bank yet?

Tumpang thread.

WTA, i placed some money into NZD FD from public bank Terengganu, can i cash out in Selangor branch?

No

Amanah Saham Wawasan/ASM/1M can still buy now? i tot full already cannot buy
dont have account also can buy? got any charges?


since amanah saham gives higher interest than fd, why ppl still put in fd?

This post has been edited by Robin Liew: Nov 20 2010, 11:08 AM

For Bumi, if they dont had any investment knowledge, first thing to do is full fill 200k quota. then only think how to invest in other.

This is M'sia so call 1 Malaysia

Yea, special rights

This post has been edited by chemistry: Nov 20 2010, 11:39 AM

All these answers can be found in the ASNB thread.


For the non-Bumi, fixed price ASNB funds are hard to come by. Moreover, even the Bumi portion of ASW2020 has fully subscribed. This is why the next alternative is time deposit unless you want to go for something of higher risk that may potentially yield a much better return.

wanna ask question about interest rate.

I googled on bank website and saw those interest rate, 1 month - 60 month.

1. What is the diff between 1 month - 5 months when the interest rate is the same? let say RHB
2. How the interest rate being pay to us if FD for 1 month.

Let say I put 10k for FD 1 month with 2.75% interest, my FD saving will be RM10K + RM 275 (interest) on the 2nd month?


FD beginner

This post has been edited by BboyDora: Nov 20 2010, 04:14 PM

If you put 10k FD with 2.75% interest p.a., the following calculation applies :

On 2nd Month, RM 10,000 + (10,000 x 0.0275/12) = 10,022.92.
You will only gain RM 22.92 for 1 month, remember the rate is per year, so you have to divide over how many month you are depositing.

If the interest rate is the same, it is better to put at the lowest month available with auto renewal, that way you can a little bit more as your interest will get interest as well.

This post has been edited by gark: Nov 20 2010, 04:29 PM

Ohh..the months stated (1 month - 60 months) mean how many months I`m going to deposit it. Noted.

"your interest will get interest as well"

is it mean when 2nd month : 10,022.92
3rd month : 10,022.92 + (10,022.92 x 0.0275/12) = 10,022.92 + 22.97 (interest)
= 10,045.89

4th month as per above calculations

correct me if wrong ..thank you.

This post has been edited by BboyDora: Nov 20 2010, 04:51 PM

You are correct, that is why if the rates are the same, choose the one with the lower month, so your interest will compound.

Thank you, Gark
you info helped me a lot to understand it better