2% for 1-month and 2.5% for 12-month. Rates are slightly lower if your total placement is more then RM1 million.


It depends on your maturity instruction. Some prefer to withdraw the interest earned while some will choose to reinvest the initial capital + interest earned.


Should use 2% as hivemy was asking for monthly FD. By the way, banks usually calculate the interest based on 365 days (1-year) and 30 days (1 month).

This post has been edited by MilesAndMore: Dec 10 2009, 04:47 PM

RHB currently have this FD promo that seems quite an ok deal.

http://www.rhb.com.my/whats_new/deposits/maxfd3.html


MaxFD3
First 2 months – 2.10% p.a.
Next 3rd and 4th months – 2.30% p.a.
Next 5th and 6th months – 2.40% p.a.
Remaining 7th and 8th months – 3.00% p.a.

public bank offer something higher but tied to unit trust
invest at ur own risk

This look pretty good. Is it a trap ? I hope its not related to unit trust. Btw is there anyone considering foreign FD? Is it wise to buy AUD FD through CIMB? The rate is something like 4.7% but there is small charges when we buy/sell foreign currency. Since most of my FD just pass maturity. Kinda sad to see the interest rate all drop to 2.5%, so i was thinking to shift my fund to other investment.

The FD only applicable on new fund aka they want new money deposit into their banks. Recently, banks tend to offer better rate for long term, for new fund coming as they all know rate won't go lower while taking more deposit in will mean stronger capital for them. Although last 2 month rate is high, but if taking average it is no more than 2.5% (1 year rate)

AUD 1 year FD as high as 5%, but AUD exchange rate kinda high at the moment, ralling from low of 2.3x to now 3.0x as high as 3.1x as well.

Long term wise AUD rate always tend to be higher than RM FD on average.

Discussion about foreign currency FD
http://forum.lowyat.net/topic/512136/+220

this is not a trap & not linked to UT, u dont get much different from any other banks, the average interest rate is 2.45% over the 8 months time.
For forign FD, u have the exchange risk, unless u forsee AUD will appreciate, otherwise it is not advisable to put in foreign FD, the conversion of MYR to AUD and then AUD to MYR when u withdraw will cost u a bomb, bank often give bad rate compared to money changer.

The only way to get good rate (for exchange is through DCI), can refer to the foreign currency FD topic.

Hi. I have invested in the CIMB conventional FD. I heard that they are offering a syariah compliance FD called the Why Wait Fixed Return Investment Account. What's the difference? Is it better than the conventional FD?

This post has been edited by wu ming: Dec 23 2009, 10:13 AM

Australian FD can go as high as up to 12%. 2007 and 2008 rates varied from 8.0% to 12.0%. Don't see that anymore due to the GFC, but the rates that went down to a low of 3.75% earlier this year, has gone up to 5 - 6% now.

Hi, I would like to know how do they calculate the Fixed Deposit?

According to this site:
http://hlb.com.my/qa/ir/irfd.jsp

If duration - 1 Month (min RM5,000)
Interest Rates p.a. - 2.00%

So, how much would I get?

Actually i'm just a student, but got 5k spare in my bank doing nothing. So, just wonder if I should put in FD.

This post has been edited by nicholas88: Jan 7 2010, 07:42 PM

( 5000 * 0.02 ) / 12 = 8.33

5000*0.02 = a bit more than RM100 a year (because of compunding.)

is it not you still have to /12 because it's 1 month. (2% is for 1 year)

any further information on this?

Exact figure you will get is shown as below for the basic compounding, i got the info from wiki:

A = P (1+ r/n)^nt
= 5000 (1+0.02)^(1x n)

* P = principal amount (initial investment)
* r = annual nominal interest rate (as a decimal)
* n = number of times the interest is compounded per year
* t = number of years
* A = amount after time t

if you put one year, then total = 5000(1+0.02)
= 5000+100
so, your RM5000 will lay out RM100 for the first year! Congratulation, by doing nothing with the money you have, in one year, you get RM100 for free! :-).

To have the both world of safety & flexibility, split the money into 5 FD accounts of RM1000 each :-), congratulation, you have upgrade your power of controlling the cash flow plus earn money when you are sleeping :-).

the method can become more and more advance if you can manupulate it with the combination of business income & investment income & FD income & others type of income (well, there are many experts of experts from the internet, just be careful of scam), but then you might need to spend more time and energy into it :-).

i would say, better focus on your study first, learn the money skill step by step, don't over do it :-) FD is a good start for student, as least that is what i think.

This post has been edited by david888: Jan 7 2010, 11:47 PM

Just wonder what's the difference between three type of Maybank eFD? Which one should go for?

Lol if you want high FD rates try Indonesian FD, I open a FD account there in 2001-2004 with an average rate of 16% p.a. . Sadly now no more, only can get about 6%....

This post has been edited by gark: Jan 12 2010, 07:17 PM

Why our country FD rates so low..? I still remember back in 90's our country bank offer rates very high up to 12%, now.. 2~3% max is alamak ah..

Did you not read the newspaper in the last one year ? All the central banks around the world lowered down the key interest rate/overnight policy rate in late 2008/early 2009(whatever they call in their respective countries) to encourage spending and people getting loan from banks.

Anyway, you can expect our Bank Negara to gradually increasing the OPR starting in the fourth quarter of this year.

FD are for losers, period.

There are many other places to put your money.

same la last time our EPF also same rates as our FD