I thought the 3.8% only valid for senior citizen?

Extremely low return not just low.

This 3.8% pa from HLB is available for everybody.

The minimum placement is Ringgit 10 thousand

Here is the info:
http://www.hlb.com.my/promo/pfs/dep_flexiF..._en.pdf?s=promo

I went to Hong Leong Bank hoping to get the 3.8% promotion.

However, initially I was told there was no such promotion. Then later after insisting there is, the officer told me that there is additional conditions where you need to open a current account which had fees incurred too & you have to keep a balance in it.

So my best advise is to go for Affin Bank since you can open a FD account without having to open any other accounts first.

the condition about having a current account was mentioned before in previous posts.

Yes, you will need to open a Flexi FD account (it is a current / checking account), if you do not need to
use cheque from Hong Leong bank, just tell Hong Leong Bank you do not need cheque.

Then you just need to deposit RM 10.00 to open and maintain a Flexi FD account, so that the 3.8%
interest will deposit into your Flexi FD account.

The whole process is very simple.

I think Junior account is more hassle free and got highest 4.5% FD rates

BoomChaCha, you better go confirm if you need minimum RM1K in the Flexi Account or not, if not mistaken there will be a service fee if the amount is less than RM1K on average.

True and and the interest is deposited monthly into a Junior Saving Account which pays pretty good interest too compared to standard savings account.

You can consider 4.7% pa for 5 years term in MBSB.

But you will not get compound interest, interest will pay
into your MBSB saving account every 6 months.
And you will get interest in your MBSB saving account.

But I suggest to put your FD in short term now, like 3 to 6 months term.

---

Added on September 19, 2011, 10:09 pmThe main point is: tell Hong Leong Bank you do not need the cheque book from Hong Leong Bank,
but you need to maintain your Flexi FD by depositing RM 1000 into your Flexi FD account (interest will
deposit into your Flexi FD account).

You can withdraw RM 990 from your Flexi FD account in few days later, but you need to maintain at least
RM 10 in your Flexi FD account.

There will be no service charge if you do not need the cheque book from Hong Leong Bank.

You can check with Hong Leong Bank by calling them:
http://www.hlb.com.my/locator/index.jsp

---

Added on September 20, 2011, 10:54 amHong Leong Bank's Junior FD offers 4.5% pa for 2 years tenure or 3.9% for 1 year tenure are probably the best deals at this moment.

But you have to have a kid below 18 years old in order to open a Junior FD account:

http://www.hlb.com.my/promo/pfs/dep_junior...dex.jsp?s=promo

This post has been edited by BoomChaCha: Sep 20 2011, 10:54 AM

Not worth invest for 5 years on FD, better take the risk and invest on gold.

Invest on gold?

Do you mind to share how to invest on gold?
Is it very high risk?

how much is the FD rate for 12 months period for Affin and UOB Bank?

Go search on their official website yourself. This question has been asked so many times already over and over again.

Affin Bank FD rates:
http://www.affinbank.com.my/rates/ratesfd.htm

I cannot find UOB FD rates on their website:
http://www1.uob.com.my/personal/deposits/f...d_deposits.html

Latest FD rates I have read so far:

Affin: 3.6% pa
UOB: 3.15% pa
HLB Flex FD: 3.8% pa (Must open a current a/c with $1k deposit)
HLB Senior FD: 4.5% pa (But wasn't shown in the HLB site anymore)
HLB Junior FD: 4.5% pa (24 or 36 months)
AmBank FD: 3.2% pa
Maybank FD Promo: up to 4.18% (see below)

4 Month Tenure
1st & 2nd Month 3.10% p.a.
3rd Month 3.25% p.a.
4th Month 3.88% p.a.

6 Month Tenure
1st & 2nd Month 3.10% p.a.
3rd to 5th Month 3.25% p.a.
6th Month 4.18% p.a.

* 4 month tenure fd is just equal to 3.33%pa
* 6 month tenure fd is just equal to 3.35%pa

This post has been edited by lkcheng: Sep 21 2011, 09:27 AM

Is the deposit in this financial institution protected by PIMB?

http://www.mbsb.com.my/deposits_fixed.html

4.7% for 5 years is quite decent.

MBSB?? what is this?

4.7% not compounded, is that good?

Correct me if I am wrong...

Affin
If I put in RM 1000 into Affin for a year at 3.6%.
after a year interest is RM36
after 5 years with compounded interest will be RM 1193. Interest earn is RM193.

MBSB
what will be the interest earn after 5 years for the same amount of RM1000?
Saw in the forum mentioned interest will be bank in every 6 months.

Let's see , compounded interest rate of 4.7% pa will give you 25.8% return in 5 years.

Non-compounded interest rate of 4.7% pa will give you 23.5% return in 5 years.

Difference is 2.3% of the principal amount at the end of 5 years.

So if you put in RM1000 , the difference will be RM23 in 5 years time.


To answer your question, for MBSB since it's non-compounded 4.7% pa, you will get Rm1000 x 23.5% = RM235 in 5 years time. In another word, a return of 23.5% would be 4.65% pa compounded interest , or 4.7% pa non-compounded interest for 5 years.

Still decent right? better than some unit trusts ..... 1/4 return in 5 years

p/s Can anyone tell me MBSB deposit guaranteed by PIDM or not?

This post has been edited by soul2soul: Sep 21 2011, 04:00 PM

MBSB is not a member institution of PIDM. Therefore, the deposits or fixed deposits in MBSB are not protected by PIDM.