best local currency FD -UOB & RHB

Best foreign currency FD rate is Australia dollar but the exchange rate is high. The gain in FD rate will be off set by exchange rate

Dependent on when Public bank changes its new fixed deposit rate. If you renew today but your FD was due say last week then the Bank will follow the FD rate at that time of your FD due date

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Added on May 18, 2011, 12:12 pmUOB - min RM25K, offer end June
3mth -3.2%, subsequent 3 mth - 3.5% (need total 6 mths)
12 mth -3.6%

RHB
rate changed by quarter, rate is slightly better, but you hv to put in RM5k in saving account for three months

This post has been edited by gsc: May 18 2011, 12:12 PM

Most banks will not put up the promo FD rate in their websites. Like Am, UOB, RHB when they have better rate. Best to call the bank direct.

hahaha better enjoy red prawn durian before your beneficiaries enjoy..........

insurance and FD are two different products but some banks 'combined' them. Am Bank provides personal life coverage on FD, but you have to be over 50 to open Am-plus FD . There is a maximum age limit, think it is 70 or 75.

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Added on June 18, 2011, 10:57 amIRR is taking into account the purchasing power of the real money by discounting the future value. Based on inflation rate and continue rising trend in Malaysia, IRR or ROI on FD is bad.

Bank gives 3% per year and if inflation rate is also 3%, the net purchasing power of money in FD remain unchanged after a year.
On the hand if you have invested on property instead of FD, the gain in property value is much much better than FD. The rental collected will be equivalent to the interest you earn in FD

Choosing FD or insurance depending on what is your personal needs. If you have family and young children then you may consider education type of insurance, some financial protection in case you lost the earning power,

This post has been edited by gsc: Jun 18 2011, 10:57 AM

UOB -3.45

most Banks wont update their website when the special promotion offers only in short period. Call UOB and they will tell you. Offer end this month. 12 mths 3.7%

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Added on June 20, 2011, 12:43 pmBSN does not give interest rate. correctly me if I am wrong, thought they give dividend but no guarantee.


This post has been edited by gsc: Jun 20 2011, 12:43 PM

Thanks. That is 4 % for 60 months. 5 years from now, rate will be higher than 4%.

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Added on June 21, 2011, 12:04 pmThe interest is credited to my Am Saving account monthly

This post has been edited by gsc: Jun 21 2011, 12:04 PM

Am 50 for those above 50 yrs old. Interest is credited monthly. Tenure 3, 6, 9 etc. Some more provide life insurance coverage.

Think need to keep RM3k or RM5k for 3 months in saving account to enjoy that 3.38%


This post has been edited by gsc: Jun 22 2011, 04:01 PM

3.7% for 12 mths end june 2011. But seems some members here said Eon better

yes, just like local currency, can have interest add on and auto renew.

foreign currency FD is good if you do not need the cash. Open FD when exchange rate is favourable, example when Aus$ is less than RM3 ringgit a couple years back, with the gain in exchange rate now, you earn both interest + exchange rate.

See below on FD rate


http://www.pbebank.com/en/en_content/perso.../fcfdrates.html

This post has been edited by gsc: Jul 3 2011, 01:41 PM

earlier
3 mth 3.45%, 12 mth 3.7% promote end Jun

earlier

first 3 mth 3.3%, 2nd 3 mth (total 6 mth) 3,5%, 12 mths 3.6%

Seems better go for 3 mth from now on

same calculation as FD. But you will loose/gain depending on exchange rate. AUS exchange rate is high now to go in. Foreign currency FD is good when you have spare cash. Convert back to RM when the exchange rate is favourable,

Anyone know any bank allow to withdraw as foreign currency without converting into RM?

UOB 3 mths 3.45%, 9 mth 3.6%. Min RM25k. Promotion end of Aug.

AUD exchange rate is high now, not advice to go in.

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Added on July 16, 2011, 2:19 pmPublic bank offer.......
https://www.pbebank.com/en/en_content/perso...tions/fcfd.html

Note the warning end of Public bank page

WARNING
THERE IS AN INHERENT EXCHANGE RATE RISK IN FOREIGN CURRENCY DEPOSITS DUE TO THE FLUCTUATION OF THE FOREIGN CURRENCY EXCHANGE RATE AGAINST RINGGIT MALAYSIA.

Below is the exchange rate

https://www.pbebank.com/en/en_content/perso...ates/index.html

Take AUS dollar as an example,
selling 3.258 and buying at 3.174,

assuming you buy now and sell immediately and the exchange rate didnt change at that instant,

you already loose out 3.258-3.174=0.084

0.084/3.258--or 2.58%

FD rate 6.7% - 2.5% = 4.2% net interest you get assuming no change in exchange rate



This post has been edited by gsc: Jul 16 2011, 02:19 PM

for RM 100k can nego? please share which bank ? Thanks

thanks, any more recommendation?

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Added on July 19, 2011, 12:07 amthanks, any more recommendation?


This post has been edited by gsc: Jul 19 2011, 12:07 AM

Correct me if I am wrong, only big amount like 1 million can nego for better rate? Anybody have tried successfully on lesser amount?"

Land, building material and labour costs are going up not because of speculation. Property cost will go up 15-20% due to these factors.

With US economy not doing well, Europe-Greece, Ireland debt, Malaysia own debt is climbing at alarming rate, inflation rate more than 4.5%, RM purchasing power is diminishing every year, I doubt property bubble will burst. The most some downward adjustment in those speculated area

thanks for sharing. OCBC has also advertised in the newspaper.

UOB

3 mths - 3.45%
9 mths - 3.6 %

min RM25k, promote end 31 Aug

OCBC 10k

UOB 25k

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Added on July 25, 2011, 12:32 pmpublic bank step up interest rate, I think there is a catch, if you done keep for min 6 mths, there will a penalty



This post has been edited by gsc: Jul 25 2011, 12:32 PM