Amongst the best in town. AmBank is known to be very generous in its interest rate.

By the way, for the Top-Rate FD for 60-month, the interest will be paid out on a 6-monthly basis.

ING ? I am not aware that ING is offering FD too.


Well, there is a catch for everything. Whoever renewed their FD for 5-year at the promotional rate of about 5% back in 2007 and 2008 would be very happy that they did so


Your savings or current account with them.


Yes. However, being a FD. I means that you can still withdraw your money anytime you like. Just that you will loss partial of the interest earned and it will follow the normal board rate instead. Their computers will do all the calculation

Yes

You have to walk-in and negotiate with the branch manager.


1. It won't follow the promotional rate given to you when you opened the FD
2. You will loss partial of the interest earned

For interest that have already been paid out, they will deduct from your principal amount to pay for the penalty.

Depends on what kind of fixed deposit account is that. Certain banks even offer upfront interest payment (offered through their Islamic Bank)

No. No catch.


Depends on which bank you are talking about, most are charging only RM2.15 for each banker's cheque issued (RM2 as commission for the cheque and RM0.15 is for stamp duty). I believe Maybank and RHB Bank are the only two exceptions that are charging RM5 for each banker's cheque issued.


RM20k is fine actually. I've seen other people carrying much more. Bring a small bag with you if you're worried. Say a laptop bag ?


Nope. Never happened to me. Anyway, don't worry too much.

This post has been edited by MilesAndMore: Mar 8 2011, 11:00 AM

Neither is true. This tax was abolished a few years ago and not even interest earned from a single RMxxx Millions fixed deposit account will be taxed.


In your case, should be RM95k in FD and RM5k in savings.

Yes. Affirmative. FD in Malaysia is totally tax-free.

In order to get the promotional rate, you must make your FD placement at the branch.

If i am not mistaken, you do need to have a savings or current account with them in order to open a FD. Anyway, i am already an existing AmBank customer.


Depends on what your instruction when you opened the FD account. You can either opt for automatic renewal (be it only the principal or principal + interest earned), total withdrawal etc.

Recent reporting claims that the OPR will be kept unchanged

That is so true !

Both


Whenever there is any special promotion for thier Top-Rate FD, one will be given a choice between conventional FD offered through AmBank or Islamic FD through AmIslamic Bank. The rate quoted by AmIslamic Bank is usually like 0.02% higher than the conventional one.

This post has been edited by MilesAndMore: Mar 10 2011, 04:04 PM

Minimum - RM5k; Maximum - RM20 Million. That's it. No other catch.

But most of their analysts from their investment banking arms predict there won't be any changes in OPR this month. Anyway, we'll find out by this evening.

No.

Because they want to build up their deposit base, just like CIMB Bank. Public Bank for instance, doesn't offer a very good FD/CASA rates in Malaysia but it's the total opposite in Hong Kong.

Anyway, any news yet on OPR ?

Public Bank Hong Kong offers the highest Fixed Deposit, Savings and Current Account interest rates in the whole Hong Kong.

This post has been edited by MilesAndMore: Mar 12 2011, 10:28 AM

That's fairly common actually. HSBC is actually pushing its Islamic Banking Arm to the Malaysia public which is why you'll see HSBC Amanah's interest rates to be higher than HSBC.


Yeah. Hong Kong is an extremely competitive market and HSBC is the largest bank in Hong Kong whilst its subsidiary, Hang Seng bank is the second largest and together they command 2/3 of the total deposits in Hong Kong which is huge. Small banks such as Public Bank have to offer a much higher interest rate to get people to bank with them.


Why should you ? It makes no different than depositing with the largest bank in Malaysia in terms of security.

No. It's different. Look for Term Deposit-i Standard Scheme by HSBC Amanah.