my guess is that the government will be raising amount of money banks will need to have in reserve (or government requiring them to pick up government bonds) next year and the banks preparing for it or the interest offer is damn low where they will use our deposit to go and roll into other instruments like bonds.

3.1% in not high, is their counter rate. Go ask for their promotion and you'll be more than satisfy.

it will be a separate account.

You have been asking this question for sometime now in many threads, if you really don't know what to do, just put into 1 month FD and earn some interest lah while you decide what to do with your money. And I see the amount have been reduced from 100K to 90K. Better go put in FD fast fast before it reduce to 80K

Having said the above, have you been checking around with banks what interest rate they are offering because you can find banks offering up to 4% for FD. Go do some work to make your money work for you. My opinion is put in FD and when the opportunity comes, go buy MBB shares.

if you buy at the high and market collapse, maybe 10 years also cannot recover the capital

People will tell you that FD rate cannot beat inflation, well, if the market collapse you would wished that you have put your money in FD instead. Unit trust is like share market, timming is important and must take profit.

This post has been edited by Gen-X: Dec 14 2010, 06:13 PM

This is FD thread lah, go to UT and Stock market section. You can find your answers there (people who can see the future)

anyway you may be interested in topic below, guide to invest in share market:

http://forum.lowyat.net/index.php?showtopic=1638400&hl=

This post has been edited by Gen-X: Dec 14 2010, 06:33 PM

Call CS and ask how to link it.

Why would you want to put your money in someone else's name when you can get up to FD 3.5% interest today yourself? For RM100K only gets you extra RM300 for the trouble. In November couple banks were offering up to 5% interet for FD. Anyway I expect more banks to come up with promotions this month.

In October-November yes, got two banks offering up to 5% for FD (one of them HLB Junior FD) and can be less than RM100K new funds of course. Last month (December) one of the banks that offer the 5% promotion in October -November stop giving the rate as they have hit their targeted amount Now they offering 3.4% for 12 months but you have to be 40 years above.

HLB Junior FD previous offer was fantastic, interest paid monthly. Now rate only 3.5% but need deposit into savings RM5K not mistaken. AMBank stillgot 3.5% interest but I guess we are expecting the rate to go uo this year.

This post has been edited by Gen-X: Jan 2 2011, 12:15 AM

RM5000 x 0.0275 x Nos. of days/365

This post has been edited by Gen-X: Jan 2 2011, 12:56 AM

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.

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.

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

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

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

Don't get me wrong, what I meant was the difference earn from interest for RM10K in FD 3 months is not much when comparing bank to bank. For example, most banks counter rate offering 2.75% and if say another bank offeing 3.1%, the difference you earn from interest is about RM8.75.

Yah definately wiser move than depositing in Savings Account where the Interest rate is negligible. With RM73.97, you can have a pretty good meal and for my case free 7 packs of Malboro Lights

Read that too n The Star recently.

This post has been edited by Gen-X: Jan 14 2011, 07:16 AM

the questions to ask is - can we withdraw the money from SA or CA the next day. If yes, good deal.

not really true, for big amount like in millions, there are special daily rates too.

yah true what you say on the interest rate, but I was kind of reffering to interest earn. Say got 10m & rate 2.5% = interest earned RM684.93 per day

but reading again

above true, my bad. Blur lah I, never read carefully

This post has been edited by Gen-X: Feb 14 2011, 03:28 PM

Why don't you just state that the minimum amount is RM30K or is it RM50K.