Longest can be up to 60 months.

The rate is fixed at that time you deposited.
Even interest rate already going up to 10%, you still get 3.5%.

Counter rate, for ordinary person <1 million total deposit (or some called tier 1)

2nd tier - customers with >1 million deposit on the particular bank.

Non-individual - deposit under company name, trustee fund etc.

No interest is given.
No penalty on your principal amount, only interest.

While depended on the tenure, and rules set (as some FD is under promotion rate which may vary from standard premature withdrawal issue), some interest may be given up to x period while some are not.

3% now.

Please do not link insurance with FD.
It never the same.



This post has been edited by cherroy: May 18 2011, 02:41 PM

Wrong.

Interest rate is not depended by stock market.

Interest rate level is determined by central bank due to economy environment.

In fact, stock market crash or flying to sky is not affecting the decision on interest rate.

But it is the other way round, if interest rate is too high, it can crash the stock market.

Not that 100% right, although one may find general it is the case.

First of all, we must understand, a level of interest rate is due to economy situation and central banks stand on the situation.
Even on high inflation situation, central bank can be very hawkish or just take a mild stand on it. So outcome of equities can be different, even though you have same inflation situation.

Equities generally doing well if situation favourable, as it is being exposed to higher risk.
Equities risk is not only economy or interest rate, equities also being exposed to mis-management, specific uncompetitive a particular industry or particular listed company, fraud etc.

You can have low interest rate environment which in theory equities should do well, but you can make a loss in equities market, due to specific issue happen on equities market, or specific listed company.

FD exposure is the lowest, it will get you low return, no matter how economy situation, most of the time, it won't able to outperform.
Bond is the mid exposure, it generally provide a little better than FD, if situation is stable or ok.
Equities is the one can yield good return, but high to risk exposure.

Each period of economy has different kind of situation, and different central bank, or different central bank controlling management group may have different approach.
Interest level low or high has lot of influence factor.
While equities, bond and FD is the receiving end of those policy, and equities is reacting to economy situation, instead of interest rate, although interest rate does have some influence on equities, just it is not as big as economy.

I hope it clears the concept.
Equities is all about economy. (Equities can boom with high interest rate as well, just like KLSE had super bull run eventhoug interest rate level was 6-8% during early 90's)
Bond is all about interest rate environment.

A few % is big different if for those significant amount.
We have hundreds of billion FD in banking system.
1% difference for 1 million is already 10k pa.
Hundred of billion FD means a billion extra interest can be earned with just 1% rate difference

Yes,
but it is little choice and option for them.
No matter how, FD is still needed and big part of most people saving.

3.1% is normal board rate.

3.7% is the promotion rate for 1 years with condition min 25k and fresh fund, until the promotion ended.

Under 18 is not yet a legal age to open an account.

If not mistaken, stated until end of June.

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Added on June 8, 2011, 3:06 pmThose children name is appeared for no purpose only if it is for ordinary account. (I might be wrong).
They (children) have no control over the account, cannot withdraw, cannot do anything.

No matter how, a legal account owner must be 18 above.

Even you are joint name with your mom when child time (<18), you are not the account holder, but your mom is.





This post has been edited by cherroy: Jun 8 2011, 03:06 PM

I am talking on ordinary acc which you previous raised on the issue bank didn't allow children name being included.

Those junior acc is different aspect, while those junior acc, the actual acc holders is still the parent (that you need to open the junior acc one).

ok.

But still I find no point to put FD with children name.

A better will writing and estate planning, will mean the FD will belong to them if anything happen a person.
While if the child is below 18, once anything happened on the account holder, the children cannot do anything on the account.

Big big misleading statement.

Those published x% or xx%, is cash back, not interest rate.

There is not such thing of guaranteed cash bonus of 5% based on your premium paid.

5% based on what?
Sum insured?
Accumulated cash value of the policy?
cash back?

If there is guaranteed cash bonus of 5% based on your accumulated premium paid, there will be lot of bank FD being withdrawn.

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Added on June 17, 2011, 1:28 pmWe have one calculation (just an example, not meant specific which is good or not good) done by forumer, please have a read, before make a statement insurance can get you 5% interest rate.
or better than FD.

https://forum.lowyat.net/topic/1231190/+20

This post has been edited by cherroy: Jun 17 2011, 01:28 PM

Any insurance is long term commitment, some life-time commitment (like those whole life one)

Please always ensure one understand what is about, as it is long term commitment.
Premature cancellation can mean loss significant of the premium.

If insurance beat FD by miles, you won't see people put in FD already.

We are all along talking about saving plan.
Those other insurances are burning money, where got give you back any money?

Even added up company performance, it is not reaching 8%, which is being given the good scenario, (all saving plan out there got a table, and being regulated by BNM to show both guaranteed and non-guaranteed portion, and npn-guaranteed portion got 2 scenario, one good, one bad, to indicate potential return from non-guaranteed part)
Added up guaranteed and non-guaranteed, it is not reaching 8%.
You can go out there to look for it, calculated carefully.
Every insurance agent got carry such a table.
Even forum here, got people posted it up.
Read back the link I posted above few posts.

You need to calculated carefully across. Cannot simply pluck a number or a ratio.
x% can be based on sum assured only.
x% can be based on first year premium.
x% can be cash back (mostly published this), as cash back is not yield nor interest rate.

There are simply too many "marketing number" out there.

It is not problem for anyone to find/get a 8%, 10% cash back saving plan.
But it is impossible to get a 8% or 10% net return/interest rate saving plan, for current financial condition.

5% of what?
sum assured?
Premium paid?
Compounded premium paid?
Cash back or interest rate?

Those are different, but still it can be quoted 5%.

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Added on June 20, 2011, 2:19 pmYou need to sum up all the money you can get from the insurance for the whole tenure, then doing backward calculation.
Then you will see the whether the 5% is real or not...


This post has been edited by cherroy: Jun 20 2011, 02:19 PM

Giro or Rentas.

Aud is among the highest 4.75%.

Please use search function on foreign currency FD.
There is existing thread discussed.