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

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ascend
post Mar 29 2011, 03:55 PM

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QUOTE(dragon_fly @ Mar 28 2011, 09:36 PM)
Definitely not . The effective interest rate is less than 3%  blink.gif

Step up rates seems to be the current trend adopted by FIs. If you can't convince them, then confuse them  rclxub.gif
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Silly 'bonkers' try to be creative and think they are really smart -instead of being forthright and straight-shooting. Who are they trying to fool? bonkers are the least trustworthy, right there with used car salesman.
ascend
post Mar 31 2011, 09:16 PM

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QUOTE(angela0808 @ Mar 31 2011, 08:09 PM)
how to get this promotion?
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i think this is the Mighty Savers Weekend. Check it out on their website. Problem is, it's for new funds/customers only, meaning it's a one time FD deposit at 4%.

Added on March 31, 2011, 9:22 pm
QUOTE(insaint708 @ Mar 31 2011, 05:36 PM)
Went to AmBank today but the system was offline and couldn't process the transaction  sad.gif
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What if you want to withdraw? big problem.

This post has been edited by ascend: Mar 31 2011, 09:22 PM
ascend
post Apr 1 2011, 04:11 PM

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QUOTE(insaint708 @ Apr 1 2011, 01:52 PM)
Those eligible:-

3.1.1.1. Individuals aged between 12 till 18 years of age

3.1.1.2. Parents or legal guardian (of at least 21 years of age) joint with a qualifying child (defined as an individual between 12
and 18 years of age)

3.1.1.3. Parents or legal guardian (of at least 21 years of age) in-trust-for a qualifying child (defined as an individual below 12
years of age)
Only for teenage or individual with teenage  unsure.gif
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Partly true, only because you are looking at Mighty Savers Account (savings). But if you look at the T&Cs, you will notice there is one for anyone above 18. It's Mighty Savers FD. The catch is you need to open other accounts.
ascend
post Apr 4 2011, 08:47 PM

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QUOTE(justincase @ Apr 4 2011, 07:19 PM)
Okay I'm new in investment and I have this question.

Let's say for a Foreign Currency FD, the rate given is 9% p.a.

I invest RM50,000. What would the interest be for one month?

Thanks.
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I' very tempted to ask you what school you graduated from!!! but the answer to your question is (9/100)/12)*50000=375 interest for one month! This is approximate only as it depends on number of days in a year and days in the month in question.
ascend
post Apr 5 2011, 11:53 PM

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and i was quoted 20%!!!
ascend
post Apr 6 2011, 10:03 AM

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QUOTE(aeiou228 @ Apr 6 2011, 12:40 AM)
CTB RM50k
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NO Banks will give you 10% for AUD FD, without conditions attached (such as purchasing insurance or other investment products). Having said that, 10% is a joke isn't it? even banks in Australia don't give you anything more than 6-7%. Yes, the 20% is a joke.
ascend
post Apr 6 2011, 10:18 PM

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Why would you pick DCI over a normal foreign currency FD? the extra interest you got from DCI over normal foreign currency FD is little compared to the potential gains you would get from currency appreciation. If an investor is that good in predicting currency direction, why don't you get into currency trading instead?

This post has been edited by ascend: Apr 6 2011, 10:20 PM
ascend
post Apr 7 2011, 01:25 PM

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QUOTE(insaint708 @ Apr 7 2011, 10:14 AM)
What does it mean by get a larger spread between the strike and the spot rate?
Does it mean choose a few currency?
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in this instance, strike rate refers to the agreed forex/conversion rate, and spot rate is the current forex rate.
ascend
post Apr 12 2011, 03:27 PM

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Anyone had difficulty withdrawing FD without bringing along the original FD slip? With HSBC, your IC will do. With Ambank, i was informed the original FD slip must be produced.
ascend
post Apr 12 2011, 09:05 PM

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QUOTE(aeiou228 @ Apr 12 2011, 03:44 PM)
That shows Ambank is more prudent than HSBC in regards to fraudulence withdrawal control. Depositor's interest is better guarded in Ambank with the requirement of FD receipt to be produced before any uplifting process can be made. But more banks do away the requirement of FD receipts now.  RHB also no need FD receipt.
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Only problem is if the depositor loses the deposit slip, the burden of proof of deposit is on this person.
ascend
post Apr 15 2011, 10:38 PM

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QUOTE(twhong_91 @ Apr 15 2011, 06:05 PM)
hey guys,
I just found this and decided to share with you guys.

HSBC bank offers 8.50% p.a for FD.

Link: http://www.hsbc.co.in/1/2/personal/bank-ac.../fixed-deposits
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Are you planning to migrate to India? Tell us more when you settle down there.
ascend
post Apr 19 2011, 09:55 AM

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QUOTE(tyja @ Apr 19 2011, 09:15 AM)
guys, can help here?
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Yes this is correct. But a more exact formula is 3.5% x principal x (days in the month/days in the year).
ascend
post Apr 21 2011, 10:36 AM

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It depends on the terms of the term deposit. If you prematurely withdraw shorter terms (like 1 or 3month), you typically get nothing. Longer terms like a year, you may get half the contractual rate. So, always ask or check the contractual terms.
ascend
post May 3 2011, 12:07 PM

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QUOTE(amalthea @ May 3 2011, 08:01 AM)
the OPR is going up another 25 basis points next week
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Are you an insider?
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post May 4 2011, 09:07 PM

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One says stay put and the other says confirmed 0.25. Well, i shall wait to hear straight from the horse's mouth.
ascend
post May 11 2011, 11:17 PM

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QUOTE(nomen @ May 11 2011, 11:04 PM)
Low risk profile kind of guy like me only put FD, or else I would have ventured in trust fund for higher returns.  tongue.gif
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Problem is the FD interest does not even make up for the 20% inflation that i experience.
ascend
post May 18 2011, 04:10 PM

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QUOTE(cherroy @ May 18 2011, 02:40 PM)
Please do not link insurance with FD.
It never the same.
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I second that. Just remember there is no 'free lunch'.
ascend
post Jun 28 2011, 12:19 PM

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QUOTE(dragon_fly @ Jun 27 2011, 05:36 PM)
Below 1 % is more like it ..
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Try this: <0.6%. DBS Fixed Deposit.

This post has been edited by ascend: Jun 28 2011, 12:20 PM
ascend
post Jun 29 2011, 04:08 PM

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QUOTE(aeiou228 @ Jun 29 2011, 03:44 PM)
I seriously wish to know how can HSBC allow FD uplifting with just a letter.
If only just a letter, it will be a serious security breach. AFAIK, big amount withdrawal must be supported by mycard verification via thumb print reader.
 
Let's wait for rockasd to share with us how it is done.  The only possibility I see it working is that rockasd may have to present to the bank prior to the FD due date to verify him self before the bank officer and give the standing instruction to credit to his own savings account.

Banks will take instructions via letters sent by post or fax. It will be executed as long as the signature matches that on record.
ascend
post Jul 2 2011, 08:28 PM

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QUOTE(steason @ Jul 2 2011, 05:25 PM)
I'm confusing is it the interest of FD allowed to compounded more than 1 year period.
Generated Interest can pump back as principal ? to let it compound.

============================
let's say i deposit RM100 in Bank A for 5 years with 3.8%

first year : RM100*103.8%=103.8
second year : RM103.8*103.8%=RM107.7444
third year : RM107.7444*103.8%=RM111.838672
fourth year : RM111.838672*103.8%=RM116.0885573136
fifth year : RM116.0885573136*103.8%= RM120.4999224915168
Gain RM20.4999224915168

or

RM100*3.8%= RM3.80
RM3.80*5=RM19
Gain RM19

which calculation is correct?

==========================
if i want to withdraw the FD at the beginning of 3nd year , how much can i get back?
RM100 ?
or RM107.7444 ?
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Your first calculated interest is the compound interest = RM20.49, the assumption being interest is credited once a year.
Your second calculation is simple interest.
For a 5 year term deposit, if you decide to uplift prematurely, there may be penalty. You need to read the T&Cs.
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