Bundled FD with CIMB till 30 November 2008

Enjoy the highest rate in the shortest time possible.

This is a great opportunity to deposit your new funds into Fixed Deposit accounts. Place a minimum deposit of RM25,000 into a 1-month AND 9-month Fixed Deposit account respectively and enjoy these special rates:

1-month for 3.52% p.a
3-month for 3.60% p.a

URL: http://www.cimbclicks.com.my/bundleFD.htm

What you need to buy is a Banker's Cheque. Once you buy the Banker's Cheque (Maybank charge RM5 if i'm not mistaken), deposit it into Affin Bank/Public Bank. When the Banker's Cheque is cleared which usually takes 1 - 2 working days, then go back to Affin Bank/Public Bank to open the FD account. You can ask them to separate it into 10 FD accounts or just put all into 1 FD account.
The withholding tax on interest earned from FD has long been abolished. Therefore, it is absolutely not necessary to divide your money into so many FD accounts.

Besides, when the withholding was still in place. People always divided their money into RM100k maximum per FD account to avoid the 5% withholding tax. So it was not less than RM100k.
Please refer to the post above.
Every banks have different rules. You should refer to your bank. As far as i am concerned, many people i know used to have more than 10 FD accounts at HSBC but not anymore. Not anymore since the 5% withholding tax was abolished anyway.
Since the 5% withholding tax had been abolished, you do not have to separate your RM1 Million into 10 FD certificates. Just put everything into one FD certificate. There is absolutely no tax to worry about.

Overseas bank like UOB Bank ? I think not. I am never a customer of UOB Bank so i am not sure why they told you otherwise. Anyway, major foreign players such HSBC, Standard Chartered and OCBC Bank told all of their customers that the 5% withholding tax had been abolished. The rule is regulated by LHDN and it shouldn't be any different for UOB Bank.

Oh ... it's the corporate one. May be that is why it is different. The 5% withholding tax that was abolished is the individual one.