You better change your nick name and with this nick name, no one thinks that you are reliable.

MBSB more solid than commercial banks. major shareholders are EPF and PNB. Another words...Gormen.

CIMB Step Up Fixed Deposit

4.8% p.a. for 8 to 10-month FD with min placement of RM 5k

URL: http://www.cimbbank.com.my/promo/stepupfd
T&C: http://www.cimbbank.com.my/promo/stepupfd/...p-Up_FD_Eng.pdf

dear best fd rate agent,
this thread is not in the tradezone or services noticeboard
this is a place for sharing and discussing
if you want announce what you have openly, do no solicit services asking people to pm you

I think need to open at bank branch. Cimbclicks can?

Cannot. Must do it over the counter.

Tenure Promotional rates (p.a.)*
8-months
Month 1 to 3 3.00%
Month 4 to 6 3.10%
Month 7 3.40%
Month 8 4.50%

3 + 3 +3 +3.1 +3.1 + 3.1 + 3.4 + 4. 5 = 26.2

26.2/8 = 3.275 worse than UOB and HLB


10-months
Month 1 to 3 3.00%
Month 4 to 6 3.15%
Month 7 to 9 3.40%
Month 10 4.50%

3 + 3 + 3 + 3.15 + 3.15 + 3.15 + 3.4 + 3.4 + 3.4 + 4.5 = 33.15

33.15/10 = 3.315 worse than UOB and HLB

This post has been edited by gsc: Sep 26 2011, 11:28 AM

Not bad.. showing the calculation ..now i understand clearly.

sorry I am noob in this section , today just went to hsbc rampai that offer interest up to 6.88%

I get a copy of this information and want ask all seniors here opinion



average profit = 3.05% x 5 months + 6.88% x 1 months
15.25%+6.88%
22.13% / 6 months
=3.69%

the requirement is to open a hsbc account with rm500 inside the account.


I am planning to put around 30k , can anyone advise me should I go for this or is there any bank that offer higher?

True or not 6.88%/m? I put 50K if really so high ROI.

If you read the last few pages, you will find other banks offer higher FD rate.

You didn't read the whole post. It was 3.69%.

I read few back , HL offered the highest with 3.8% but for a year while this one for only 6months , since I am new here , just want to get used with the rules first. Do we need to pay any extra charges or service charges? The paper I get from the bank stated that I will get rm92.21 if I put rm5k for 6 months.

There is no bank service charge for depositors to put money on FD.

banks nowadays like to mislead depositors by quoting multi-month different interest rates to confuse them, so you really have to do some work to find the real annual % rate for camparison

It's a new marketing gimmick since FD is no longer attractive compared to 1990's.

It is true. Maybank is one of them. When you walk in and want to do a FD, they wouldn't let you do it right away, instead they will have a staff to ask you consider another financial product. Or at least their counter clerk will say something like 'would you be interested on another FD which 4.1% per year'. If you say yes, then a officer will talk to you and if you agree then you fund will be locked for 5 or more years where only the first year get high interest. These are just some examples.

To my knowledge and experience, it is better to research in different banks and go for the FD promotion that offer real high rate.

If a bank staff try to promote a investment or deposit product to you, it is better to say no right away. Usually it is some sort of product that isn't really giving good return if you make the calculation and comparison.

Bank people can talk politely and professionally but they don't have the real experiences and success of investment. Before the financial crisis of US, they even dare to ask people to put their fund into Unit trust (Fund that invest in US stock) instead of FD. There is no guarantee of any kind. If you make any lose even a big one, no one will be responsible.

Same thing applies to OCBC when they have promotion for 5 days only on FD rate, they will direct you to explore other saving plan like Builder Express. The staff will tell you better return than FD rate. You have to open your eyes big2 to read the guarantee and non-guarantee return. Some more the interest return is based on sum insured not the total money you put in.

The most I hate is when people want to place FD, the bankers told they have better product with higher interest rate eventually, direct people to saving plan.

Saving plan is not FD.

saving plan = insurance !!

Not exactly true as well. Insurance will cover your medical claims.