I just checked with UOB last Friday, UOB has two new FD promotions:

(1) 6 months tenure: 3.5%

(2) 3 months tenure:
3.3% for 1st month
3.3% for 2nd month
3.6% for 3rd month
So, average is 3.4% for all 3 months tenure

Minimum FD placement is 25K

This post has been edited by BoomChaCha: Sep 5 2011, 02:08 PM

Sometimes it depends on how do you negotiate with the bank when renew your FD.

Just add some money to renew your existing matured FD then it will consider as a fresh fund.


This post has been edited by BoomChaCha: Sep 6 2011, 12:34 PM

According to HSBC about this 4% FD rate, only half of the deposit amount will entitle for 4% on 3 months tenure,
the remaining of half deposit will entitle for normal FD rate.


http://www.hsbc.com.my/1/2/personal-bankin..._PREMIER_LPROMO


Click on the Terms and Conditions on the bottom of the page

And you get compound interest every month..

Absolutely..

Update:
This technique does not work on UOB. UOB needs fresh fund only.

For FD promo rate, your method whether can work or not is depending on the bank (use strict bank policy or flexible personal relationship).
Fresh fund means a check from a different bank.

Based on your story, apparently your bank did not require fresh fund for the promo rate; or perhaps your bank did it flexible for you.

For UOB FD promo rate, UOB wants fresh fund only, strictly no negotiable for existing fund.

---

Added on September 18, 2011, 12:12 pmLet's make this information more accurate for May Bank's 4.1% FD on 6 months tenure:

For 1st and 2nd month: 3.1% (3.1% for the first 2 months)
For 3rd, 4th and 5th month: 3.25% (3.25% for 3 months)
For 6th month: 4.1% (4.1% for last 1 month)

So, the average FD rate for 6 months from May Bank is only 3.34% pa.

I think so far UOB 's FD rate is more competitive at 3.5% pa for 6 months tenure.

This post has been edited by BoomChaCha: Sep 18 2011, 12:12 PM

Oh.. I had never thought about withdraw cash from FD and re-deposit cash into new FD

I will go for Hong Leong Bank's 3.8% pa for 1 year tenure.

If you have a kid, you can consider 4.5% pa for 2 years tenure (in Hong Leong Bank)

Or you can consider 3.5% pa for 6 months tenure in UOB.
Or 3.4% pa (average from 3 months) for 3 months tenure in UOB.

I do not put FD for 1 month term now.

Low risk low return, my friend

This 3.8% pa from HLB is available for everybody.

The minimum placement is Ringgit 10 thousand

Here is the info:
http://www.hlb.com.my/promo/pfs/dep_flexiF..._en.pdf?s=promo

Yes, you will need to open a Flexi FD account (it is a current / checking account), if you do not need to
use cheque from Hong Leong bank, just tell Hong Leong Bank you do not need cheque.

Then you just need to deposit RM 10.00 to open and maintain a Flexi FD account, so that the 3.8%
interest will deposit into your Flexi FD account.

The whole process is very simple.

You can consider 4.7% pa for 5 years term in MBSB.

But you will not get compound interest, interest will pay
into your MBSB saving account every 6 months.
And you will get interest in your MBSB saving account.

But I suggest to put your FD in short term now, like 3 to 6 months term.

---

Added on September 19, 2011, 10:09 pmThe main point is: tell Hong Leong Bank you do not need the cheque book from Hong Leong Bank,
but you need to maintain your Flexi FD by depositing RM 1000 into your Flexi FD account (interest will
deposit into your Flexi FD account).

You can withdraw RM 990 from your Flexi FD account in few days later, but you need to maintain at least
RM 10 in your Flexi FD account.

There will be no service charge if you do not need the cheque book from Hong Leong Bank.

You can check with Hong Leong Bank by calling them:
http://www.hlb.com.my/locator/index.jsp

---

Added on September 20, 2011, 10:54 amHong Leong Bank's Junior FD offers 4.5% pa for 2 years tenure or 3.9% for 1 year tenure are probably the best deals at this moment.

But you have to have a kid below 18 years old in order to open a Junior FD account:

http://www.hlb.com.my/promo/pfs/dep_junior...dex.jsp?s=promo

This post has been edited by BoomChaCha: Sep 20 2011, 10:54 AM

Invest on gold?

Do you mind to share how to invest on gold?
Is it very high risk?

Affin Bank FD rates:
http://www.affinbank.com.my/rates/ratesfd.htm

I cannot find UOB FD rates on their website:
http://www1.uob.com.my/personal/deposits/f...d_deposits.html

There is no bank service charge for depositors to put money on FD.

Yes, we can only get this 5% promotion rate by opening a Standard & Chartered Bank saving account in between
1 October 2011 and 31 October 2011. Depending on how soon we can open the account with Standard & Chartered Bank.
5% interest will calculate the average deposit fund on daily basis until 31 December 2011.

Interest will calculate in between the date we put money in and the date we make withdrawal anytime during 1 October 2011 until 31 December 2011 (calculate 5% interest rate p.a. on daily basis).


But bear in mind that 5%% interest will only pay in 3 working days after 31 December 2011.

Minimum placement is RM 3K to maintain the account (will pay 5% interest on it)
Maximum placement is RM 500K per account

This 5% interest will pay on daily basis. Not monthly basis.

If you put RM 3000 for 45 days, you will be paid 45 days interest.

But I think we will not get 5% interest after 31 December 2011, even if our funds are still in
Standard & chartered after 31 December 2011.

This 5% promo rate is valid from 1 October to 31 December 2011 only.

I guess this is the best deal after Citibank which used to offer 5.75% for
3 months term few months back.

This post has been edited by BoomChaCha: Sep 29 2011, 02:55 PM

http://www.hlb.com.my/promo/pfs/dep_flexiF..._en.pdf?s=promo

http://www.bigsale.com.my/images/user/4253...eong-nissan.jpg