so worth it for me to go open a hsbc account and put my money on their FD rite?

after 6 months the rate will go for

1 month 2.95%
3 month 3.05%
1 year 3.3%

I am not looking for big return , just hold the money first before I need it for my education . thanks to all sifu that replying

after 6 month check this forum coz other banks may give a better rate ...

Guys, i see there are not much people here would go for BSN Fixed Deposit . it offer at a rate of 3.35% per year ...

after 6 months, don't know if rates will go lower or not. MBB CEO announced yesterday he wants BNM to maintain low interest rates Boy, this guy should encourage savings instead of encouraging spending. Well, as long as MBB continues to offer 0% BT ( 0 % Loans) next year, then I am fine with the low rates.

For those who have children, go use your child's name and lock in 4.5% interest for the next two years with HLB Junior FD.

BSN interest so far not so attractive compare to other banks

even if the interest rate does not go up next year, there are still banks offer promotion rate like in this year...example

2010
Am 50 promote rate better than most banks

2011
Citi -step up rate (so far the best rate, promotion over)
RHB
EON
UOB (2nd best for now)
OCBC (only for I think 5 working days promotion but twice)
HLB (the best rate for now)

Other banks which give slightly higher than most bank are Affin and BSN....

In short, there will be one or two banks offer better than normal bank rate

2010 best is Alliance up to 5% for 12 months and HLB Junior and Senior FD at 5%. AmBank also offered 5% if not mistaken for 4 to 5 years tenure.

2011 - except for Citi 3 months savings account special rate for Gold Acct (effective 5.85%) no banks offered higher than 5% or close to it. Most banks offering below 4% on average except for present HLB Junior 4.5%. So actually this year the rate lower even though BLR went up.

Having said that, this year, more banks are willing to offer higher rates than the over the counter rates for substantial amount of deposit and you can take Affin's 3.6% 12 months as the base.

This post has been edited by Gen-X: Sep 28 2011, 06:11 PM

Starting this Saturday 1st October and until 31st October, SCB if offering 5% interest for up to 3 months for new and existing e$aver account. From what I gather from the ad in The Star, the 5% inte4erst is for months of October, November and December. To maintain minimum RM3000 for 3 months. click below link to see ad. So if you like only open the e$aver account on 31st October 2011, you'll only get 5% for two months.

http://mystar.my/ads/ad.aspx?id=0dc8ba6f-c...78-8df2845fb471

This post has been edited by Gen-X: Sep 29 2011, 10:27 AM

Yeah, I posted this on the savings account topic but there was no response. Maybe nobody saw it.
I need to open an account with them since new job required me to do so. SCB officer recommends that I come on this Saturday for this promotion. So win win situation?

is the interest credited monthly? can't seem to find this info.

Yes, we can only get this 5% promotion rate by opening a Standard & Chartered Bank saving account in between
1 October 2011 and 31 October 2011. Depending on how soon we can open the account with Standard & Chartered Bank.
5% interest will calculate the average deposit fund on daily basis until 31 December 2011.

Interest will calculate in between the date we put money in and the date we make withdrawal anytime during 1 October 2011 until 31 December 2011 (calculate 5% interest rate p.a. on daily basis).


But bear in mind that 5%% interest will only pay in 3 working days after 31 December 2011.

Minimum placement is RM 3K to maintain the account (will pay 5% interest on it)
Maximum placement is RM 500K per account

So let's say u deposit 3k on 1st Oct and withdraw on 3th Jan (after 31 dec 2011)
how much interest u gain?

RM12.5 per month X 3 = RM37.5

the interest paid is month basis or daily basis?

This 5% interest will pay on daily basis. Not monthly basis.

If you put RM 3000 for 45 days, you will be paid 45 days interest.

But I think we will not get 5% interest after 31 December 2011, even if our funds are still in
Standard & chartered after 31 December 2011.

This 5% promo rate is valid from 1 October to 31 December 2011 only.

I guess this is the best deal after Citibank which used to offer 5.75% for
3 months term few months back.

This post has been edited by BoomChaCha: Sep 29 2011, 02:55 PM

Please again don't mislead people, it is an insurance, IT IS NOT LIKE FD.

It also lets you save up like FD and has 6% interest. So yeaah. Just a suggestion.

Again try to mislead people "like FD".

Saving plan is saving plan
FD is FD.
Both are not related, and totally different product.

Hong Leong Bank's standard FD Rates @ http://www.hlb.com.my/qa/ir/irfd.jsp

Promo rates are not shown...

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

http://www.bigsale.com.my/images/user/4253...eong-nissan.jpg

Promote rates of HLB still show actually:

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

Does anyone know if there is any further terms & condition for this super saver account?

Like Hong Leong bank, I was told I MUST get the cheque book, the HL One account imposes RM20 for first 6 months even for balance about RM 1,000 & to close account, RM10 will be charged.