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 FD rates in Malaysia, Which bank offer the highest FD rates?

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MGM
post Oct 6 2011, 10:15 AM

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QUOTE(ronnie @ Oct 6 2011, 09:03 AM)
Option 1 is calculated wrongly
ADB = RM62000 x 26 / 31 = RM52000 in October
Interest = RM52000 x 5% x 31 / 365 = RM220.82
* this is best guess *

Option 2 will give ADB of RM62000 in October
Interest = RM62000 x 5% x 26 / 365 = RM220.82

Both calculation yields THE SAME INTEREST... interesting  sweat.gif  shakehead.gif  shocking.gif  rclxub.gif

*
If same amt of interest, better opt for option 1 less procedure & the rm9 RENTAS fee.
MGM
post Oct 6 2011, 06:20 PM

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QUOTE(aeiou228 @ Oct 6 2011, 12:52 PM)
Today opened SCB e$aver account.
If you are totally new to SCB, you can deposit by chq and the interest calculation will start from the date of chq deposit.
*
Open esaver a/c on 1/10/11 Saturday and deposit a cheque but in the online statement it is recorded as 3/10/11 transaction.
If what you say is true, just get a bank draft from other bank a/c @rm2 and deposit it in SCB anytime of the day. It is cheaper than the rm9 RENTAS fee which can only be done b4 noon(I actually wasted one day to do RENTAS the next morning).
The RENTAS way is better if SCB counted the interest from chq clearance.
Need to check with the manager this Sat. all these issues.Hopefully he knows better then his staffs. Different people gives diff info.

This post has been edited by MGM: Oct 6 2011, 06:44 PM
MGM
post Oct 8 2011, 06:54 AM

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QUOTE(ronnie @ Oct 7 2011, 10:59 PM)
You go over to SCB to create the eSaver account first.
They allow creation w/o initial deposit. Just state that you will GIRO the amount from another bank.
If they don't allow, put in RM10 as initial deposit lah  doh.gif
*
I think GIRO would take 2 days. For every rm10000, u earned rm2.74 less interest.
If you are a new customer, better to open the account with a cheque or Draft which is considered as same day deposit, and it costs less.

Added on October 8, 2011, 7:00 am
QUOTE(echoesian @ Oct 7 2011, 10:17 PM)
if I wanna open this eSaver account but I do not have any existing account with SCB, how do I transfer my fund from MBB via GIRO?
*
I think a better choice would be:
Go to MBB and buy a draft with your funds, I think it costs rm2.
Go to SCB, open the account and deposit with your MBB draft.
Your deposit should be considered as same day deposit.

Added on October 8, 2011, 7:03 am
QUOTE(echoesian @ Oct 8 2011, 12:33 AM)
I'm wondering is there any penalty charges if close the account after getting the 5% and the end of the 3rd month?
*
Just leave a small amt in your account and closed it after 3 months.

This post has been edited by MGM: Oct 8 2011, 07:03 AM
MGM
post Oct 8 2011, 10:33 AM

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QUOTE(echoesian @ Oct 8 2011, 09:46 AM)
Why must deposit on the same day in order to get 5%? I thought as long as my eSaver has the RM3000 balance in Oct I'll entitle to the 5% ?
*
Did I mentioned that? I am just trying to tell you by doing so you get 2 extra days of interest.
Moreover your ADB will be higher. See previous pages for formula.
To qualify for 5% bonus interest it is your ADB must be >= rm3000, not your balance.
Try to open the account on the day you deposit your funds because of the way ADB is calculated (if ADB ~rm3000)

This post has been edited by MGM: Oct 8 2011, 10:39 AM
MGM
post Oct 8 2011, 09:42 PM

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QUOTE(nomen @ Oct 8 2011, 03:02 PM)
I just opened an e$aver account with StanChart with a MBB banker's cheque on Oct. 5 (Wed) but
there was still a float and was not considered as same day deposit.  The banker's cheque was
apparently cleared only on Oct. 7 (Fri). When I logged in to check it showed a 'O' balance on Oct 5
and Oct 6.
Btw, MBB did not charge me for the banker's cheque.
*
Tried check your SCB online and see the deposit transaction date, I think it will be OCT-5.
MGM
post Oct 8 2011, 10:47 PM

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QUOTE(nomen @ Oct 8 2011, 09:49 PM)

Added on October 8, 2011, 10:17 pm
I had checked online on Oct 5 and Oct 6 and I saw a zero balance on both days, but when I checked
again yesterday Oct 7 it showed my deposited amount.  I think there is always a 1-2 day float for
Savings Account cheque deposit, whereas for FD it usually starts on the deposit transaction date.
I presume I will only earn interest starting Oct 7 upon cheque clearance.
*
My wife opened a esaver account & deposited a cheque on 1/10/11(Sat) and transaction date was 3/10/11.
I opened a SuperSalary and deposited a cheque on 3/10/11 and transaction date was 3/10/11.
What is the transaction date of your deposit?
MGM
post Oct 13 2011, 09:52 AM

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QUOTE(ycs @ Oct 13 2011, 09:39 AM)
is the SCB eSaver promo still on until end October?
*
Suppose to end on 31Oct but some say when a certain limit is reached SCB might consider terminating the Promo earlier but for those who already open the special account, they can top up as much as they like.

This post has been edited by MGM: Oct 13 2011, 12:08 PM
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