FD rates in Malaysia, Which bank offer the highest FD rates?
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 Jun 16 2008, 06:34 PM
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#1
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2,932 posts Joined: Sep 2007 
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QUOTE(David83 @ Jun 16 2008, 06:17 PM) Is there any hidden clause for such higher rate compared to other banks? Yes there is under Terms and Conditions link in very small print at the bottom. Most certainly worth it if you are switching from another bank to them, but not sure if it's worth the hassle for everyone else. |
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Jun 21 2008, 02:29 PM
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#2
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2,932 posts Joined: Sep 2007
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The AUD exchange rate over the past 12-months has varied up to 12%. That could be your gain, or that could be your loss.
Right now, it's near its peak vs the MYR @ 3.13. The usual advice is not to buy high, but that would depend on how you view the AUD in the longer term. There is no point in putting in the money if you intend to withdraw after a short period, as you will lose out on the buy/sell spread (you could see that as a charge) of about 2.5% regardless of the exchange rate. Unless you believe the AUD is going to go up rapidly in that period.  |
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Jun 26 2008, 11:14 PM
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#3
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2,932 posts Joined: Sep 2007
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Yeah, why not FD in PB?
 This post has been edited by howszat: Jun 26 2008, 11:15 PM |
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Jun 26 2008, 11:55 PM
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#4
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QUOTE(dr2k3 @ Jun 26 2008, 11:15 PM) people say PB foreign currency doesnt have auto renewal...thats already a bad sign That's not the case. FD will be automatically renewed. Currently, there is an exception because of the special additional interest rate for the first term. However, this is just a case of changing the certificate to a normal one after the first term. From their website http://www.pbebank.com/en/en_content/perso...tions/fcfd.html :Upon maturity of the FCY FD, it will be renewed under the respective prevailing FCY FD interest rates, ie. counter rates, without additional interest rates. QUOTE bank spread on currency is 0.5 or something higher + -, even if they offer high % u still might lose more during end of period Similar to most other banks, which is about 2.5 to 2.6% spread. The only exception is HLB which is about 2.3%. Unless you have a large amount, the difference is not worth the effort of changing banks if you are not already with HLB. QUOTE foreign currency is meant for long term investment.....especially during when currency is not stable.....long term can break even the possibility of currency devalue or maybe earn more short term have high chances of losing because of the spread(cost) by the bank Sure, that applies to all FCY FD, not just PB. |
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Jun 27 2008, 12:25 AM
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#5
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2,932 posts Joined: Sep 2007
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QUOTE(dr2k3 @ Jun 27 2008, 12:02 AM) well...thats what i heard from people Don't believe what you hear from people. u can call the bank to verify.....the rate in PB is too high to be true for me and they dont publish real rate Upon maturity of the FCY FD, it will be renewed under the respective prevailing FCY FD interest rates, ie. counter rates, without additional interest rates. so thats mean 9.x% on first year after that go back to their original rate which we dont even know what if you notice the "Additional Interest" normal 1 month fd is lower compare to 12month/1y but they r reverse example 1 month = 3.1% 3month = 3.4% etc etc... but pb is 1month = 1% extra thats mean 10% then 3month is 0.5% thats mean 9.5 opposite...isnt that kinda weird? The PB website is clear on the matter. The 1% extra is only for the first term of 1 month tenure. So for the 1-month term, you get 1/12 of 1% which is = 0.083% The 0.5% extra is for 3-months, so you get 3/12 of 0.5% = 0.125% Since 0.125 > 0.083, not opposite and not weird at all. |
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Jun 27 2008, 01:06 AM
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#6
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2,932 posts Joined: Sep 2007
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Look under Rates and Charges on their website.
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Oct 23 2008, 08:57 PM
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#7
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Senior Member
2,932 posts Joined: Sep 2007
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RHB also got promotion http://www.rhbbank.com.my/personal/deposit...sit.shtm#maxfd2
If I read this correctly, the effective rate is 3.57%, min deposit 10K QUOTE Enjoy high interest rates without tying your money down with MaxFD2. MaxFD2 is a 6-month Fixed Deposit, which allows you to earn higher interest every two (2) months. Month 1st and 2nd 3.3% 3rd & 4th 3.6% 5th & 6th 3.8% |
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Jul 24 2010, 05:50 PM
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#8
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Senior Member
2,932 posts Joined: Sep 2007
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Ahh, but for the banks, it works
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