There is a RM50 administration fee, by the way.

Yes

The highest should be RHB Islamic Bank. The 1 year rate is 3.40% and you can request for upfront payment. Meaning you lock your deposit for 1 year and you can get the interest immediately on the day you make the placement. The other bank that offers such deposit is HSBC Amanah but the rate and T&C are not as good. This is basically like a regular fixed deposit account that is Shariah compliant.

No worries. It is insured by PIDM too, just like all your money at non-Islamic banks.

For 12-month tenure ? Yeah. I guess it is.

RM5,000 only. T&C ? More or less like regular FD.

Just go to your bank. They will guide you through the procedure.

Is there such a product from HSBC ?

Yet another Fixed Deposit promotion from AmBank.

Top Rates FD (AmBank)

Go for the conventional one. The rate is fixed for the whole tenure of your fixed deposit.

BUMMER

It's a bit different. The one from Alliance is split between fixed deposit and savings/current account whilst the one from Maybank is split between fixed deposit and unit trust, something that is offered by Public Bank and AmBank as well.

If i were you, i won't go into such investment. I will look for other alternative. But then, that's probably just me.

Part of the reasons you want to put your money into FD instead of other investment vehicles is because you want to make sure you will not loss your principal money right ? If you invest in unit trust, there is a likely chance that you will loss some of your principal money when the market is bad. Not really recommend it especially during this volatile markets.


No. Even the interest earned from RM100 Million of FD is totally tax free.


Hong Leong Bank FD rate is ranging from 2.65% - 4.00%. BLR is 6.30% and not 2.75%.

Depends on what your instruction is. You can choose for auto renewal upon maturity and it can either be the principal amount + interest earned or just the principal amount.

I concur. However, the difference is negligible Anyway, deposit hungry banks such as CIMB Bank probably can give you a better rate. But for deposit rich big banks such as Public Bank and HSBC, it is very hard to negotiate for a decent rate with them no matter how big your FD account is

This post has been edited by MilesAndMore: Feb 14 2011, 03:12 PM

Not always true. You'll be making tons of money if you have invested in AUD FD in 2008 around the period that Lehman Brothers went into Chapter 11.

Go to your account holding branch and tell them you want to close the particular FD account.

May not be the best but certainly one of the better one in town.

Anyway, i believe there is one BNM meeting coming up this month and it seems that we will see a modest increase in BLR & OPR

Need to pay RM50 handling charge and RMxx for bank account information retrieval etc.


Do note that you may only make a standing instruction to auto renew your FD for a maximum of 7 years only. After that you will need to give a new instruction again.