FD is a very safe investment, therefore risk free. If you plan on getting higher returns, you could diversify your investments. putting a portion in FD for liquidity purposes while putting others in unit trusts or various other investments
If you dont plan on investing and just want to earn more interest on the savings you have, you could always put a portion in long term FD and more on 1-month FDs incase you need to use the money

In the next few days, maybank will be coming out with a merdeka promotion. 3 months FD at a pretty attractive rate

Thanks guys for the information ! Really good one !

Re: 'FD Savings Plan'

Yes indeed, this is definitely a very serious issue for all of us here to have a clear picture of it.
Many thanks cherroy for the clarification. Ambiguities of such are potentially very dangerous.

may i know more about the maybank merdeka promotion?

currently its monthly FD rate is 2.75%.
3 months also 2.75%.
is that the promotion you mean?

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Added on August 24, 2010, 9:14 amis there any difference between FD and e-FD?

This post has been edited by den: Aug 24 2010, 09:14 AM

now Affin Bank is offering 3.30%.....

if i put 1m fixed deposit for one year...

after a year how many $ can i get?

is it? -----> 1000000 x 3.30%= after a year i can get RM33000

any risk on it?does the fd rate will change?

thanks for advance...

the current promotion, just released yst is merdeka promotion
3.1% for 3 months FD, and when you renew it, you get 3.10 again, however it is subject to the fluctuation of the OPR and BLR rates
this is for fresh funds btw




Correct. the fd rates will change when OPR and BLR rises. however when u enter a 1 year agreement. you are locked in for that 3.30% rate. if in the future, the rates drop, then you would have done better as u have locked a higher rate. however if the rates increase, you are locked in at a lower rate of 3.30%

there are risks, however very minimal as its only if the bank chap lap lol

Correct !


The only risk is that when the bank goes bankrupt, you'll only get very little money back that is insured by PIDM. Anyway, you shouldn't worry about this as no bank in Malaysia is going bankrupt.


No. It is not exposed any rate changes until is it due to renew next.

Any minimum or maximum amount? Can't seem to find link to promo.

I went to Maybank just now, also cant see the promo.
From the board, it's written exactly what i see from the website only.

So, i put 1 month FD, 2.75% only.

Ambank TOP RATE is more higher.

wow. ya wor. but min 10 months tenure.

will the % rate increase again?

Dunno wo... I diversify into many types of investment.. some yields more than 10% a month de...

Capital protected ?

of course not, since high risk, high return.. hehe

Thought so. Don't have the appetite to digest such a risk yet.

Even risk is high, but still manageable.. so, no problem de.

but i heard my friend said government will charge? so my final bonus is? <RM33000?

Charge what ? Tax ? There used to be a 5% tax on the interest earned from FD totaling more than RM100,000 in a single receipt but this has been abolished a few years ago. So it means that even if you have RM100 Million in a single bank, there is absolutely no tax at all.

This post has been edited by MilesAndMore: Aug 24 2010, 08:31 PM

if now i have 1million in my maybank....then i want to put my 1m to affin bank or public bank....i have to buy Cheque at maybank for me to transfer the $ to other bank...than a have to separate the $? if a single Cheque with 1m...government will charge tax?

Should not be a problem if you did declare income tax. I did 2.5million banker cheque previously but has no problem.

For FD, it is not advisable to put one piece of 1million into a FD account.