Currently I have invested in HLB JUNIOR FD at 5% pa for the tenure of 4 years. So far so good .

This post has been edited by michaelho: Sep 28 2010, 07:14 PM

No, it isn't. Interest will be credited MONTHLY into your Junior Savings acc. Note the word JUNIOR FD and JUNIOR SAVINGS . It's meant for parents and their children. You can always ask your close relatives with children (provided u trust them 101%) to place the deposit for you.

This post has been edited by michaelho: Sep 28 2010, 09:50 PM

There is still penalty. They will calculate the interest you have earned all these while at 5% and will deduct the difference for early exit from your principal. That was what I was made to understand by the Call Centre. They could be wrong but I am quite sure cos I really made them check. If there were no penalty whatsoever, I would deposited my last RM in there.

The only bank FD I know that doesnt impose any penalty at all provided you still leave RM30k inside is CIMB SENIOR FD (forgot the exact name of that program).

By the way, I don't think any bank is offering 6-7%. She is just randomly making a statement and asking some lame questions. AFAIK, those that offer high interest like 10+% must tie up with their UT, FOREX FD etc etc.

Knew there won't be such a "big kap-la jumping around the streets"