There's a catch. Read the T&C in their website.

hi all..... i would like to ask, which bank currently offers the highest interest rate for senior citizen fixed deposits? thx

Affin bank at 3.6% for 12 months

Hong Leong FD promotion at 3.8% for 12 months at the moment should be about the highest.

Affin bank has been offering highest interest rate for a while now .... but it is true that from time to time other banks would come up with short term better offers ...

Anyone know what is HLB Flexi FD?

open a junior flexi FD yesterday. Very bad and slow service. Waited for half hour and another half hour opening account. Why cant they let the customer service counter help to process the application of account to shorten the queuing time. Very unproductive way of work processing. Logical work scheduling is parallel processing or divide up the processing jobs to free up counter staff work load.

Another bad point is HL bank staff does not know their own products well. One said need the junior to be around to open junior FD, one said 55 yrs old or above for senior flexi FD, the fact is no need presence of junior and 50 yrs old can open senior account.

Senior flexi FD is 3.8% per year but you must open a current account

Affin Bank is better then. I opened at Sea Park branch & max it took was 5 minutes as no one in queue.
Do not even need to open any other account, just the FD.

Sigh~ need to open current account to enjoy Flexi FD interest..

How u put FD if u hv 10006 ?

10006 1 shot ?

rate
3/100 x 30 / 365

Do put 5003 so u get interest 12.34/month

if u put 10006 u only get 24.67/month

that is 5k

u will see the significant amount if u repeat it.

What do you mean?

I suggest you to go back and read your primary or secondary maths first before saying that 5k and 10k has significant difference in its interest. Shame on you.

what is the interest rate?

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Added on August 24, 2011, 11:25 amwhy 10006 and 5003, you can use also 10008 and 5004, or straight use 10k and 5k.

I think your point is you will see the significance once they are compounded over long terms said 20 years

This post has been edited by gsc: Aug 24 2011, 11:25 AM

Untung 1sen if split to 2 FD receipts ? So your executive time is worth less than 1 sen for the extra time you spent in the bank waiting for the teller to prepare the extra FD receipt ?
Again you said "that is only 5K", Do you mean to say if you have RM1million and you place it in 200 FD receipts of 5k each and you untung extra RM1 interest ? Gee....!
Also more trees will have to chopped down just for you.


This post has been edited by aeiou228: Aug 24 2011, 12:37 PM

She just be here for nothing but just wasted here.

Even after 20 years compounded on 1 cent, it is not even enough to pay extra-parking fee due to longer wait in the bank...

Maybe the fellow is laddering / staggering his FDs for emergency funds storage, thus having $5K mature every week / 2-weeks / month, thus do not compromise the whole lump sum's % if forced to take out some $ from FD during an emergency
OR
he's just being sarcastic

This post has been edited by wongmunkeong: Aug 24 2011, 04:14 PM

For a person that has 1 million, and intention to do 200x FD, to earn Rm1.00......

Doing 200x FD can mean consume at least half a day on the teller/cashier/officer.
Rm1.00 can pay parking fee for half day?

Keep 200x FD receipt, easy to manage?

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Added on August 24, 2011, 4:17 pmThis is quite normal for people to split FD for emergency withdraw so that do not compromise or lose of interest on whole lump sum due to premature withdrawal, but Rm1 million for 200x Rm5k FD transaction, is overly.



This post has been edited by cherroy: Aug 24 2011, 04:17 PM

Maybe island mentality (kiasu & kiasi) lor.
Mana cukup, 200 days only. 1 year have 364.25 days wor and want to cover any day can cough up $5K emergency fund leh

For a person to put $1M into FD, he must be a multi-millionaire

Mind U, i'm no multi-millionaire, thus dunno what some multi-millionaire thinks

This post has been edited by wongmunkeong: Aug 24 2011, 04:36 PM

for foreign currency FD, is there a risk? our capital is protected? what about the interest rates? it fluctuates according to the currency rate? we follow the rate stated at the point of fd maturity date right? eg: affin bank says 3.8% but at the end of the tenure not really 3.8% right? currently I'm also looking at public bank AUD fd 5.45% for 12 mths.

or any other suggestion from sifus here?

note: i have about rm10k to put in.

10K only. Use your smart brain to get some products and sell it ovee the internet, the return rates will be surely higher than FD.