Only certain branches offer it. I got the brochures from CIMB, TTDI Branch, Kuala Lumpur. and for limited time only. The promotional heading is "Weekend FD Offers" hotline number to find out more is 1300 880 900. This offer only apply if u deposit during the weekends. Beside the special rate every RM30K that u put also entitle for special prize.

The officers shared with me, they will have this promo on branch to branch basis, it is not a nationwide promotion, as they have many depositors withdraw $ and put in PNB products and other saving scheme, especially the wealthy senior citizen. So they need to start this campaign to gather deposits.

FD rate 2.5 % only right?
i dont know lah...

They need it badly. It is still lagging behind PBB in terms of total deposit base despite being much bigger than PBB


For tier-1 12-month board rate, yes.

Cimb is having another promo again, now 2.55% pa for 11month fd...

It shows that how badly the banking system need deposits, besides CIMB, many other also have FD promotion...

I heard from friend, there is a special FD rate from 1 month to 11 months for big FD amount, is it true? what is the big amount?

rm50k and above

Yup.. u're right.. It's 12month u get FD 2.5%

The best FD rate in the market now is CIMB's Golden Time FD, for those 50 years and above, 3.5%p.a. for 60 months tenure.
Interest paid out on monthly basis, and have flexibility to withdraw

FD is not a way to invest anymore. It is now only a place to locate your money.

Is FD a good place to place the money for emergency use?

i would say yes. safest and flexible. but don't expect higher return as FD is not for investment. it's a place to not depreciated too much after inflation, if compare to doing nothing for your money.

Can someone give me a rundown on how FD works exactly?

Say I have 10k to keep in FD, how much do i get on 2.1% p.a

Any benefit of keeping for 4 months compared to 11 months, since the interest is the same.

Do you all ever heard ppl save money until rich? or save money until regret?

Better invest some time in properties or business.

This is the best choice.

Regards,
Eric
012-348 4933

Say that you go for a 1-month contract, RM10k will give you back around RM17.50 only.


Only if the rate is higher. I usually only either go for 1-month or 12-month only. You can choose for 1-month and opt for automatic renewal. This way it is more flexible and you won't loss much in interest in case you need to cash out the money before it matures.

Anyone working in the bank,

1. would u mind to tell what is the interest rate of F/D (assuming 10k deposit), and which bank

2. If it's monthly FD, are they compounded yearly or monthly?

3. And based on (2) what is the formula for continuous compound interest for 3 years (assume it's 10k)?

Thanks!

A question, which bank got FD with the minimum amount to invest? Is it usually RM10k ?

No. The minimum placement for 2 months and above is only RM1000. For 1 month tenure, the minimum investment is RM5000.

Yup.. U're right.. Its call "stand by money"..

---

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This post has been edited by keneshiro7: Dec 10 2009, 11:52 AM

1. 2.5% per annum, most bank (currently)
2. compounded monthly
3. 10k x (1.025)^3 (assuming that 2.5% stays for 3 years) = RM 10,768.90

This post has been edited by leongal: Dec 10 2009, 03:16 PM