FD rates in Malaysia, Which bank offer the highest FD rates?
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 Jun 26 2008, 10:57 PM
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#1
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Senior Member
1,542 posts Joined: Jan 2005 From: Seri Kembangan  
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QUOTE(ultraviolet @ Jun 23 2008, 04:34 PM) Public Bank now offering 11.18% FD rate.... Wow, 11.18% sound too good to be true. Mind to tell which currency and if the offer only for 1 month of the tenure? Also, does the FC fixed deposit allows auto renewal tha we are not forced to withdraw the money if not neccessary?Term and Condition applied.... interested can contact me....  |
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Jun 26 2008, 11:04 PM
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#2
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Senior Member
1,542 posts Joined: Jan 2005 From: Seri Kembangan
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@netcrawler
that is prob NZD currency i would not suggest put foreign currency fd in PB [/quote] Why not recommended for PB? The interest rate is quite high eventhough you minus off the exchange rate (of course for tenure not less than 12 months). Did you have any bad experience with PB? |
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Jun 26 2008, 11:43 PM
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#3
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Senior Member
1,542 posts Joined: Jan 2005 From: Seri Kembangan
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QUOTE(dr2k3 @ Jun 26 2008, 11:15 PM) @netcrawler I agreed with you that FC deposit is meant for long term. Placing it on short term will surely makes us lose money because of exchange rate and possibly the currency flutuation. But if you put the money in long term, it's certain that the interest will be higher that fixed deposit. However, no auto renewal is a bad thing as our FC deposite may has matured when the exchange rate for the currency is low.people say PB foreign currency doesnt have auto renewal...thats already a bad sign bank spread on currency is 0.5 or something higher + -, even if they offer high % u still might lose more during end of period 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 abit same thing like UT....u canot buy and sell UT in short time because of their charges.... |
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Jun 27 2008, 09:25 AM
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#4
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Senior Member
1,542 posts Joined: Jan 2005 From: Seri Kembangan
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Above 9% is considered high if you compare to other fixed deposits.
The only concern here is would the bank convert the currency back to MYR before doing a renewal. If they do convert, then we lose a lot in exchange rate. Otherwise, we may continue to roll over the FC deposite till the good time before withdrawal. |
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