as i know bsn ,second is cimb

No lah. I read in The Edge (October or November issue) and STAR that the majority of them did expect a rate hike in OPR by early third quarter this year. I've sold my last year's The Edge to the recycling guy. So i wouldn't able to post the article up here. Am pretty sure that piece of article is available on the net.

If you check out some of my last posts in this thread posted before the end of 2009, you'll see me kept saying a rate hike is expected by the third quarter this year because that was what i read from the newspaper

They only changed tune and told the whole world that they are revising their forecast and predicted the rate hike will happen in March instead of early second half of this year after the BNM meeting in January. So to be fair to them, they really are only off by a few months.

This post has been edited by MilesAndMore: Mar 6 2010, 05:41 PM

Basically the table is not there to attract the customers but, to provide information on the interest rates for different terms.

It depends on the Banks, If they think the limit they are willing to take for 3-11 months FD is 2.1% that is all there is to it. But, what I can say to you is that the Banks is *nudging* you to take >12 months FD rate if you wants FD rates higher than 2.1%.

From another point of view, you have to remember FD rate changes from time to time. By taking 4-11 months FD rate of 2.1%. You locked on the 2.1% return and release yourself from the risk of FD rates going below 2.1% in the future ( depending on what term did you took).

I hope that answer your questions. Sorry if i didn't, terribly bad at explaining to others.

Cheers~

what is the best rate for FD now?
10k for 1month auto renew or better put in UT???

ambank 3.6% for 48 mths Top Rates Plan. Interest is payable quarterly with no penalty on early withdrawn.

Are you sure? What is the minimum amount to put?
Any website to refer to see ?

http://www.ambg.com.my/rates_fees_charges...._deposits_rates

Requirements
RM5,000 for FD and RM5,000 for insurance premium
Minimum age: 18 years old and above.
Minimum deposit amount: RM10,000 for 15, 24 or 36 months

Wow 48months, tat's 4 years!!!
Are you sure nterest is payable quarterly with no penalty on early withdrawn?
BTW, payable quarterly is how long?

Guys, i saw news say Malaysia increase interest rate. Anyone know what is the FD % per month ? I no time to go bank.

This is more accurate.

http://www.ambg.com.my/promotions.asp?sc=p...ns_personal_018

It seems that the promotion was ended 28 Feb 2010. Pls call bank and see if they still having it.

You can opt for other tenure ma.

Yes, payable quarterly > Very sure as I got it.


Quarterly is 3 months la

This post has been edited by jack2: Mar 9 2010, 06:59 AM

I click on the link and it didn't state that no penalty for early withdrawn which means you will lose your interest if you withdrawn early and 4 years for 3.6%, i would rather opt for other banks.

It did not state does not mean that they penalty you.

I asked and joined them 4 months ago. The manager said interest is payable quarterly. I was shocked that it is too good to be true. I questioned her back that if that is the case, I can withdraw early after interest is paid and will you charge back me the interest paid and penalty.

The answer is NO.

Please opt for other banks if you SCARE. Anyway, the promotion was ended.

You do not have to go to the bank. You can just check for the latest rates on their website.

None of the banks have increased the interest rate for FD yet. The normal board rates offered for FD by banks in Malaysia are as follows :
- Total FD placement of up to RM1 Million (1-month to 12-month)
> 2.00% - 2.50%

- Total FD placement more than RM1 Million (1-month to 12-month)
> 1.50% - 2.20%


I was approached about this offer last month. There is a penalty if you withdraw early. I was told that no partial withdrawal allowed either. If i'm not mistaken, the rate will be reverted to normal board rate should you decide to close the FD account before it matures. As they will follow the 3-month or 1-year FD rate, that one i ain't too sure.


Correct. There definitely is a penalty.


I was told otherwise.

This post has been edited by MilesAndMore: Mar 9 2010, 11:59 AM

Which one is true. The answer I got was contrary with yours.

Update:

I called to AmOnline and talked to the CS. She told me no penalty for earlier withdrawn. Whatever interest you have earned and paid previously will not be claimed back from you.

I told her what you was told by someone and she confirmed with her supervisor again and the answer is the same. No.

This post has been edited by jack2: Mar 9 2010, 11:53 AM

Apparently, several banks such as Public Bank and CIMB Bank have raised the normal FD board rates effective today.

New FD rates :
- Total FD placement of up to RM1 Million (1-month to 12-month)
> 2.25% - 2.60%

- Total FD placement more than RM1 Million (1-month - 12-month)
> ??% - 2.45%



Not sure. I did not take up the offer. You probably can check with another branch and see what their staff have to say. I was informed i won't loss any interest. Just that instead of giving me the promotional rate of 3.6%, i'll be given the normal rate.


Damn it ! I should have taken up the offer then ...

This post has been edited by MilesAndMore: Mar 9 2010, 11:59 AM

2 different things ...

FD never for investment ... i put 10k in SCB, 9 months later only give me 150 ... 150 is a lot ?

FD is our emergency funds, and instead put in normal saving account, we put in FD so we can withdraw easily in case we need it ... and we can get back 100% ... in case we not using it, we can earn some interest.

compare UT which is for investment, the return is much higher then FD but the risk of losing also higher ... means when we need it for emergency, the duration to get it back is 10 working days, and we might not get back 100% due to processing fees and economy.

conclusion, you need both ... let said you now have 50k, 20k put in FD, 30k for investment ... this is a good financial planning.

This post has been edited by Ken: Mar 9 2010, 02:35 PM

Now FD rate has increased from 2.5% to 2.75% effectively today.

Usually I put 90% of my saving in FD, it maybe lower interest but then again, when I need money, I can withdraw anytime.

I've checked Public Bank and CIMB website, 12 months FD only returns 2.6% interest.

HLB 2.75% for 1 year.

Maybank is 2.75% for 1 year

many thanks for the info...