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 FD rates in Malaysia, Which bank offer the highest FD rates?

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MGM
post May 5 2011, 09:37 PM

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QUOTE(cherroy @ May 5 2011, 08:44 PM)
BNM raised OPR 25 basic points, SRR up 1% to 3%.

Good, BNM is looking seriously on inflation.
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So FD interest rate should go up as much in the next few days? But normally BLR will go up first.
MGM
post Jun 1 2011, 09:19 PM

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Went around some banks (HL,CIMB,AMbank,OCBC,HSBC,MBB) today,

and found that UOB offer best FD rates:

3 months 3.45%
12 months 3.70%

This post has been edited by MGM: Jun 2 2011, 03:00 PM
MGM
post Jun 2 2011, 02:59 PM

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QUOTE(Gen-X @ Jun 1 2011, 10:08 PM)
and the lowest HLB?
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The lowest is UOB lah.
MGM
post Jun 2 2011, 03:31 PM

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QUOTE(Gen-X @ Jun 2 2011, 03:07 PM)
huh? you posted highest UOB and now you say UOB lowest?
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Sorry reacted too fast. UOB offer the best rate among those banks I enquired.

Why would you want to know the lowest ?
Can't see its importance

This post has been edited by MGM: Jun 2 2011, 03:34 PM
MGM
post Jun 13 2011, 09:54 PM

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Was told that EON Bank offers 3.8% and BSN 4.0%. But need to verify.
MGM
post Jun 28 2011, 09:47 PM

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QUOTE(ahcheap @ Jun 28 2011, 12:57 PM)
I heard my fren said FD rate in Vietnam is 10+ % and his boss has opened an account thr.
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Heard that they might devalue their currency.

Indonesia would be a better choice.

This post has been edited by MGM: Jun 28 2011, 09:48 PM
MGM
post Aug 6 2011, 06:57 PM

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QUOTE(BboyDora @ Aug 6 2011, 02:55 PM)
for a quick question coz I dunno where to ask this question.

I have RM 500 worth of coins (5 cents coins to 50 cents coins) which I saved for quite some time and I would like to bank in to my account. Is it possible to do so where I need to bring the two big containers to bank or is there any other way?

thanks notworthy.gif
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Some kopitiam will gladly accepts them and probably give you extra.
MGM
post Sep 5 2011, 06:01 PM

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QUOTE(BoomChaCha @ Sep 5 2011, 02:06 PM)
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
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Was told by the CS this promo for fresh funds from privilege banking customer only
MGM
post Sep 6 2011, 09:08 AM

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QUOTE(BoomChaCha @ Sep 6 2011, 01:38 AM)
Sometimes it depends on how do you negotiate with the bank when renew your FD.
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You mean you managed to put in FD at the promo rate without using fresh fund and not being a priviledge banking customer? Good on you.
MGM
post Sep 18 2011, 08:57 AM

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QUOTE(BoomChaCha @ Sep 18 2011, 01:31 AM)
Update:
This technique does not work on UOB. UOB needs fresh fund only.
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When FD matured take out the money from one counter and bank in trhu another counter, then it is considered as fresh funds. Did that early Sept.
MGM
post Oct 1 2011, 12:49 AM

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QUOTE(ronnie @ Sep 30 2011, 12:50 PM)
I agree with based on the SCB Website's T&C...
But come 1 Nov 2011, won't your account becomes "Existing Customer" from "New-to-Bank Customer" ?
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From my understanding of the t&C, once you sign up as a new customer in oct2011, you are considered new customer for the entire promo period of oct2011 to dec2011.
MGM
post Oct 1 2011, 11:02 PM

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open a Saadig $aver-i today 1/10/11 with a cheque deposit, according to the guy who help us with the opening of account, the deposit is counted as of today and not when the cheque is cleared. Wonder how true is this?


Added on October 1, 2011, 11:07 pm
QUOTE(kwokwah @ Oct 1 2011, 05:04 PM)
SC T&C requires a min of "ADB" of 3K throughout Oct (31 days). It means that if you deposit 3K on 1/10/11 and maintain it for 31 days,it's OK. If you open the account on 11/10/11 then you need 4.4286K. That is 4.4286 x 21/31=3. If you open the ac on 31/10/11 and it'll be 93K. Wah lau !

Better be quick if you want to take advantage of the promo.
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That's not how it works. As long as your ADB is >=3k you will enjoy the 5% bonus. Please look at the formula in the T&C.

This post has been edited by MGM: Oct 1 2011, 11:07 PM
MGM
post Oct 3 2011, 04:50 PM

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QUOTE(ronnie @ Oct 3 2011, 01:09 PM)
The cheque is posted on 3-Oct-2011 for the eSaver account opened on 1 Oct 2011. Now just need to wait for month-end to collect my 5% p.a. Bonus Payment brows.gif
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You were right Ronnie and the bank staff who attended to me was wrong.
Same situation for me but there are two balances in the online account, one is "running balance" which is the amount of the cheque, and the other "available balance" is 0 (cheque not cleared). Which balance will they use to calculate the ADB?

This post has been edited by MGM: Oct 3 2011, 04:51 PM
MGM
post Oct 3 2011, 04:57 PM

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The safest and cheapest way to transfer any amount more than rm65700 to the Stanchart is by Rentas before noon. The charge is rm9 and will be credited on the same day. By cheques (personal or banker), it will take two working days.
MGM
post Oct 3 2011, 05:25 PM

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QUOTE(insaint708 @ Oct 3 2011, 05:19 PM)
it is worth to open esaver with standard charted with 5% pa? is it higher than normal FD of 3 months?

sifus.. how do you calculate..
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For every rm10000, 3month@5%=rm125, 3month@3.4%=rm85, you make an extra rm40, is it worth it for u?
MGM
post Oct 4 2011, 06:04 PM

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QUOTE(nomen @ Oct 4 2011, 05:48 PM)
Lets say if I am a new customer and I intend to open an e$aver account with an initial deposit of 50k but do not intend to top up my account, will I be eligible for the bonus payment rate of 5% p.a. for the 50k deposited from the account opening date till December 31.
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From my understanding you should be getting 5%, but for such an amt it is better you find out yourself from the horse's mouth and let us know.


Added on October 4, 2011, 6:05 pm
QUOTE(ubuntu @ Oct 4 2011, 06:00 PM)
Hi everyone, just to update, for islamic account like saadiq saver-i is not eligible to participate in scb 5% interest promo. Only supersalary or e$aver are eligible.
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Not true, Saadiq $aver-i has the same promo.

This post has been edited by MGM: Oct 4 2011, 06:05 PM
MGM
post Oct 4 2011, 07:57 PM

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QUOTE(BoomChaCha @ Oct 4 2011, 07:43 PM)
For new customers, they can make deposits anytime (or top up) during October only.
New customers will get flat 5% interest rate for 3 months from October to
end of December 2011.

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From what I understand, example 8.3 in the T&C clearly shows you can top up in anytime from oct to dec2011 and enjoy the 5% bonus.

http://www.standardchartered.com.my/person...rpromo/tnc.html

This post has been edited by MGM: Oct 4 2011, 08:00 PM
MGM
post Oct 5 2011, 03:42 PM

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QUOTE(ronnie @ Oct 5 2011, 09:07 AM)
What do you expect ???? 5% p.a. forever ?!  rclxub.gif  rclxub.gif  rclxub.gif

Since my cheque officially clears on 5 October 2011, I assume the ADB calculation will be from 5-Oct onwards  doh.gif  doh.gif
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ADB of >=rm3000 is used as the critiria for bonus entitlement. Is it used to calculate the interest?
Like for your case Int=deposit*5%*26/365 ?

MGM
post Oct 5 2011, 09:46 PM

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QUOTE(ronnie @ Oct 5 2011, 09:19 PM)
ADB is used for the 5% bonus calculation.
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How is the ADB used to calculate the interest, any idea?
MGM
post Oct 6 2011, 07:58 AM

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QUOTE(ronnie @ Oct 5 2011, 11:35 PM)
Interest = ADB * 5% * Total Number of Days (used to count ADB) / 365
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Are u sure?

Lets say
1. open a/c on 1-OCT-11 and deposit cheque rm62000 which cleared on 5/10/11
ADB=62000*26/31=52000.

2. open a/c on 5-OCT-11 and transfer funds by RENTAS which will be credited into SCB a/c on same morning ADB=62000*26/26=62000.

Which means option 2 gives more interest?


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