As a matter of fact, in the 1st version of the T&C, the initial 4.5% promo was valid from 8 Aug until 8 Sep only...


This post has been edited by ronnie: Oct 11 2011, 11:21 AM

Malaysia Banks Fixed Deposit / Time Deposit Rates as of October 2011.
Bank - FD rates for 1 month, 3 months, 6 months and 12 months. Click on the bank to go to the bank's relevant site on rates.

Affin Bank - 3.05%, 3.1%, 3.25% and 3.6%

Alliance Bank - 3%, 3.05%, 3.2% and 3.25%. FD Gold 12 months 3.35% (Interest paid monthly).

AmBank - 3%, 3%, 3.15% and 3.2%. Am50Plus 12 mths 3.25% (Interest paid monthly, FREE PA).

Citibank - 2.9%, 3.05%, 3.1% and 3.15%

CIMB Bank - 3%, 3.05%, 3.1% and 3.15%

Hong Leong Bank - 2.9%, 2.95%, 2.95% and 3.1%

HSBC Bank - 2.75%, 3%, 3% and 3.15%

Maybank - 3%, 3.05%, 3.1% and 3.15%

OCBC Bank - 2.85%, 2.95%, 3% and 3.15%

RHB Bank - 3%, 3.05%, 3.2% and 3.3%. Senior FD 12 months 3.3% (Interest paid monthly).

Public Bank - 3%, 3.05%, 3.1% and 3.15%. PB Golden 50 Plus 12 months 3.25%.

Standard Chartered Bank - 2.95%, 3%, 3.1% and 3.25%

From the above, HSBC 1 month FD rate is the lowest at 2.75%. The highest over the counter FD rate for 12 months is by Affin Bank at 3.6%.


Fixed / Time Deposit and Savings Account Promotions October 2011.
Please call the nearest bank to reconfirm the rates (go to the bank website for bank contact number where you can also get the contact number of the branch nearest to you) before going to the bank to check if promotions are still valid.

Hong Leong Bank Fixed Deposit Promotion until 30 November 2011

Until 16 October 2011
Hong Leong Bank Senior FD 12 months 3.8% (Interest credited monthly into savings account).
Hong Leong Bank Junior FD 12 months 3.9% and 24-36 months 4.5% (Interest credited monthly).

17 October to 30 November 2011
Hong Leong Bank Senior FD 12 months 3.7% (Interest credited monthly into savings account).
Hong Leong Bank Junior FD 12 months 3.7% and 24-36 months 4.2% (Interest credited monthly)


OCBC Bank Fixed Deposit Promotion 5 October 2011 to 31 December 2011

OCBC Bank Time Deposit 3 months 3.5%


Standard Chartered 5% Interest Rate for e$aver, Super Salary and Saadiq$aver savings accounts.

This promotion of 5% flat interest rate until 31 December 2011 is applicable for new customers who open an eSaver, Super Salary and SaadiqSaver savings account in the month of October 2011 only and must maintain an average daily balance of RM3,000. Existing customers also enjoy this promotional rate but subject to additional terms and conditions.

Other Promotions

Some banks are also offering step up interest rates (with or without condition, e.g. some banks require that you deposit x amount in savings or current account), so you better average them out and I would think they still won't be able to beat Affin 12 months Fixed Deposit rate of 3.6%.

Added by Moderator
Source: http://creditcardsmalaysia.blogspot.com/p/fixed-deposit.html

This post has been edited by tinkerbel: Oct 11 2011, 03:03 PM

nice summary!!! thanks!!

ronnie: I kind of missed the offer rates after 17 Oct, thanks for highlighting. As you can see from above, MNet has posted above my "hard work" where I have updated it.

But updated it further at my blog, it seems UOB also also offering 3.5% 3.6% and 3.8% for 6, 9 and 12 months with RM25K, fresh fund of course..

This post has been edited by Gen-X: Oct 11 2011, 01:26 PM

Please put the source lah... just copy and paste without acknowledgement.
* The above post has been reported. *

This post has been edited by ronnie: Oct 11 2011, 01:57 PM

FD saving is better or buy Gold is better for Long Term ?

Gen-X, I did specifically asked if salary or any monthly amount needs to be deposited, she said no need, as long as you have an employer is fine.

@MNet,
In future, if you're going to be displaying someone elses' work, please put down source.

@Gen-X,
Thanks for the information

Great work by the Moderator.... give MNet a warning star

i think depends the level of risk you can take...

gold is high risk and no interest in between until you sell it..

FD is low risk and low return.. giving u fixed interest...

for child edu saving, is it better to save the money in FD for 10 years or better to put in those insurance saving plan for JR?

go for HLB junior, bro gen-x can help u on that

HLB Junior FD longest tenure is 5 years at 3.90% p.a.
Current promo (until 16 Oct) is 3 years at 4.5% p.a.

This post has been edited by ronnie: Oct 12 2011, 09:43 AM

It depended what you want.

FD -
- more flexibility, got money can put more. No money, don't need to put. Emergency usage, can withdraw.

Saving plan - Rigid, forced saving. No money to pay premium can mean pre-mature surrender, burn money. Even got million inside, emergence or dieing in hunger also cannot withdraw a single cent.
- got insurance protection, you died, get full sum assured.

thanks cherroy, i have been approached before by some insurance agents about 8 years planning plan for junior but the plan always got to link with an investment plan . when it's link to investment plan, they always estimate an average interest rate.

thank you ronnie and tinkerbel for the acknowledgement

gerrardling: Bro, ask me? I think the best person to ask is either cherroy or Dreamer where they will give unbiased, straight and common sense answer (like below).

hackwire: go read this thread on Child Education Planning..

I really like your statement got millions dieing in hunger also cannot withdraw

Just to add, some edu insurance policy that are linked to unit trust allows you to sell units anytime. If linked to equities, sell when market high and then put into FD. If got pay income tax, edu insurance good, get some relief (it's like getting cash back).

Do not use estimated/projected figure as the consideration, it doesn't hold much ground, as this is the past performance.
Past performance /= how future performance will be.
And somemore a lot of time, period of past performance can be chosen upon to show better figure.
For eg. I can use 10 years performance of S&P500, it show no gain for the past 10 years.
But if I choose 3 years chart, from 2008 (from the onset of financial crisis to 2011, it show magnificient performance.
Both present a true view or actual happening.

Personally, my view.
If you want to secure money for junior, you look for protection as the major consideration.
Like if die prematurely, you left insurance (sum assured) money to the junior.

If one look for return, while still want to save for junior.
One can always buy separately insurance + UT.
After all, investment linked also a insurance + UT combo only.

You can buy separately, whereby you have more flexibility and more control on your money.
For eg.
You can buy more a pure life insurance, which premium is significant lower than saving plan or investment linked (for the same amount of sum assured), while the rest of money saved, you can buy UT out there. (even investment linked, you are also buying same UT out there one as well).

I don't see why one must rigid oneself in investment.

thanks again . this really open up my perspective straight away. your suggestion on the separate investment does gives a better control and same time transparency . the combo (insurance+UT) is very confusing whenever the agents trying to explain. the language they used to describe also cannot be easily understand at all.

will do some research on UT now. thanks

During my visit to Standard Chartered, I was also offered a savings plan from Prudential.

It goes something like this:
- 20 years plan
- Capital Guaranteed
- Let's say we save a lump sum of RM 50,000
- After 5th year onwards, we will get RM 3,500 or 7% of saved sum guaranteed a year
- Upon maturity on the 20th year, you will get back the RM 50,000 inclusive of any additional profits

I would like to know if anyone was offered the same & what are your opinions on it?

you mean during the 1st-5years there's no interest yet? only after the 5th year got interest?

additional profits meant here is yearly interest accumulated of 7% every year ( beginning from the 5th year)?