yes as ronnie explained, cut whole story short, buy low..sell high. that's all

Even then, assuming AUD is fundamentally strong itself, a 5.3% FD is higher than our local 2.8%. (assuming rates do not change)

Which bank in Malaysia offers highest FD rate now?
I meant for 12-15 months period...
Any recommendations?

for islamic bank, top 3 as at Dec'10:

12 months GIA
1) Affin Islamic - 3.31%
2) Agrobank - 3.28%
3) Alliance Islamic Bank - 3.23%

15 months GIA
1) Affin Islamic - 3.31%
2) BSN - 3.20%
3) Agrobank - 3.18%

Ocbc 3 months 3.15%
Additional % given upon producing other bank's FD cert.

That's a good rate for 3 months. Any T&C like have to deposit certain amount into savings?

BNM meeting on 27th Jan. Wonder if they increase rate.

Can I know what is the rate for a normal 12months FD now?

---

Added on January 11, 2011, 5:33 pmNon-Bumi can open?
Got any minimum FD requirement?

This post has been edited by powind: Jan 11 2011, 05:33 PM

Since I very free now I'll entertain your request.

AMBank
For 11 months FD and 24 months, AMBank offering 3.3% and 3.4% respectively. Offer end Jan 15. But AMBank always got promotion.
http://www.ambg.com.my/ambank_webmedia/fil...Individuals.pdf

Hong Leong Bank
Presently offering 3.5% for 12 months but need to deposit RM5K into savings or current account.
http://www.hlb.com.my/promo/pfs/dep_nissan/index.jsp?s=promo

RHB Bank
offering different rate for different tenure starting with minimum deposit of RM100K. If you got RM300K to deposit for 15 months, they offering 3.5%.

Alliance Bank
You got to go check it out at their branch. Usually got promotion. End of last month they offering 3.4 for 12 months but you need to be 40 years above to qualify for FD Gold.

Affin Bank
12 months 3.3%, that is the over the counter rate. They may have some kind of promotion, go check it out.
http://www.affinbank.com.my/rates/ratesfd.htm

HSBC also have step up rate for FD for 3 months but it comes with certain T&C. Me not interested in HSBC because after the 3 months period you get low rates from them.

So from the above you can note that max rate for now is 3.5%, so that's why OCBC 3 months rate of 3.15% is good.

Like I mentioned, BNM committee meeting is scheduled to on the 27th Jan, look out for latest news and you may find FD rates increased after a few days.

Hong Leong Junior FD is 5% per anum

That offer ended in November 2010 lah. Now rate is same as promotion i.e. 3.5% for 12 months but with T&C.

OCBC low 2.85pa

http://www.ocbc.com.my/personal-banking/To...d_deposits.shtm

Sinchew Daily today has an advertisement of OCBC FD.
Please take a look at page 04.

anyone gt this InterestPlus Fixed Deposit Rates?

Its UT linked.

If put 1k for 3month FD + 1k for 3month UT

Then how much will be the FD rate for this?

http://www.ambg.com.my/rates_fees_charges...._deposits_rates

1 month 33.73%

If its black listed, can open FD account?

Will the money in FD be freezed by the FD Bank and deduct automatically to pay the owing bank money?

And can CRIS/CTOS check that you have a FD Account?

This post has been edited by jj_glimpsedream: Jan 12 2011, 12:38 AM

FD accounts are track by bank negara using ccris whether it is freezed or not i m not sure.

you sure or not in cCRIS? My CCRIS report does not mentioned anything about FD unless it is pledged for credit facilitiy.

forgive me as I'm a noob. quite interested in FD but yet to go thru it. I bet this has been discussed before but pls enlighten & bear with me

Lets say that I have an extra cash in hand now for about RM10k. Decided to take the plunge into FD by locking RM10k for a period of 3 months (assuming 3% rate);

1) Total profit I get is RM10,300 (RM10k+3%) at the end of the 3rd month?
2) Total capital/deposit I put in is guaranteed? RM10k?
3) Can I decide to uplift upon maturity? any T&C i should take into account? Any notice needs to be issued to the bank for purpose of upliftment?
4) Can I deposit to any banks even I dont have an account with them?
5) Which bank offers an attractive rates nowdays? i saw someone mentioned OCBC.

Greatly appreciateD!!

1) Not correct to say that you will have "profit" of RM10,300.00. What you "earn" is interest paid on your Principal and the interest earn can be define as below:

Principal x Interest Rate x Number of Days / 365 days.

Example (we Malaysians understand better if there is a sample calculation, haha) where you deposit RM10K for 3 months begining tomorrow at interest rate of 3% (interest rate is always quoted based on annualized return). Therefore your FD will mature on 14 April 2011. Tomorrow till 14 April consist of 90 days.

Interest Earned for 3 month FD = RM10,000 x 3% x 90 Days / 365 Days = RM73.97

Therefore on 14 April 2011 the bank will return to you RM10,073.97.

2) Yes you deposit is guaranteed (more like insured) up to RM250K per bank (not branch).

3) Yes you can but they will pay less interest - not to sure but something equivalent to Saving Account Interest Rate which is very very low.

4) Yes you can walk into any bank and they be happy to take your money.

5) For RM10K 3 months FD, no difference Go to nearest and most convenient bank and save on parking, time and petrol.

This post has been edited by Gen-X: Jan 13 2011, 05:55 PM

3month CIMB higher 3%pa

You're spot on! 1Malaysia in full mode
Haha, diligent way to put it!

And yes, based on your example above, total earning is in fact RM73.97. Well, lets cut to the chase.I have an excess cash for about RM10k but will fully utilize it until sometime April (3 months from now). Instead of dumping it into a saving accounts and starring at it, it would be nice to see if it could grow. My expectation is not too make tons of money over it, just to leverage on available cash & time. the infamous 'time value of money'..

Is this a wise move? Or should I diversify the RM10k? I know RM10k is nothing to shout about.

HSBC just launched an FD promo.

3 months TERM DEPOSIT:
1st month 2.88%
2nd month 2.88%
3rd month 8.88%
Minimum deposit 5k
Maximum 100k