Haha explanation will be lengthy.
I killed millions of my old brain cells to understand this new banking jargon and end up not worth spending my precious time to understand its meaning in the first place. If you see FD rates based on incremental average daily balance, just ignore it and don't even bother finding out its meaning too. I save your time at my expense.

Is this for Bumi only? A quick glance ... seems like have have to join membership somemore.

hi all, just want to open a discussion... i suppose there is 5% interest tax for deposit amt of above 100k.
assume for FD RM1m deposit, and a bank is able to offer 5% interest... but 50k * 0.95 = 47.5k, which makes the
interest become 4.75% right?

for large amount of deposit, is there any other this kind of "hidden" charges?

Interest from FD is not taxed in Malaysia

Schedule of Monetary Policy Committee Meetings for 2012

1st ---- 31 January 2012 (Tuesday)
2nd ---- 9 March 2012 (Friday)
3rd ---- 3 May 2012 (Thursday) ----> postpone to 11 May 2012 (Friday)
4th ---- 5 July 2012 (Thursday)
5th ---- 6 September 2012 (Thursday)
6th ---- 8 November 2012 (Thursday)


Source: http://www.bnm.gov.my/microsites/monetary/03_schedule.htm
http://www.bnm.gov.my/index.php?ch=8&pg=14&ac=2420

Hmm.. 12 mths.. for average 3+%. Not bad. Better than what Uncle sam can give me.
But, then again, who's need to hold treasury now?

This post has been edited by danmooncake: Mar 14 2012, 11:46 PM

There used to be the 5% tax as mentioned above. But this was abolished back several years ago.

just to get a pretty clear discussion from so many comment here.
If im going to put my money in FD today, which bank offers the highest interest rate now for longer term?

Received sms from UOB on new FD rate is available. Called the bank. Offer till end of Apr

3 mth - 3.4%
6 mth - 3.5%
12 mth - 3.7%

12 mth 3.78% provided you open a saving account with RM5000 and cant withdraw for a month.

It seems OCBC is better but offer end of March. Looks like rate is going down.

Called HL Bank, was told new promotion rate in April but no detail yet

Guys, have u all heard of ING FD at 10% per annum. Is an insurance company and the sale rep says it's guarantee by BNM.

Sounds too good to be true.

ING = Insurance company
This type of "fake" FD are insurance with investment linked or Endowment plans.
FD comes with low interest at fixed period.

was at HL bank and was told the new rate. Couldnt remember it coz on the spot compare against OCBC/UOB and found out it is competitive

Insurance company doesn't have FD, please get your fact right.

Insurance is always an insurance, not a FD.

No insurance company can give a guaranteed return of 10% as well, be it endowment plan, ILP or whatever.

would like to ask. Beside cash or banker cheque can use to put on FD. Normal local cheque can use to put on FD or not (need to wait till clearance)

Local cheque is accepted at most bank for FD placement.

I received call from hlb to inform the new fd rate effective from yesterday. The rates were not attractive that's why never save a copy in my brain memory. I think is 3.60 for 12 mths. ?

Fixed / Time Deposit and Savings Account Promotions March 2012.
Please call the nearest bank to reconfirm the rates (go to the bank website for bank contact number where you can also get the contact number of the branch nearest to you) before going to the bank to check if promotions are still valid.

Alliance Bank Fixed Deposit Promo until 31 March 2012. Minimum Fresh Fund RM10K

3 Months - 3.6%


UOB Bank Latest Fixed Deposit Promotion Rates - Minimum RM10K. Until end of April 2012.


3 months - 3.4%
6 months - 3.5%
12 months -3.7%


OCBC Bank Malaysia Promotion until 31st March 2012. Minimum Fresh Fund RM10K

3 Months 3.6%
9 Months 3.8%

GIA-i Product contributed by tbheng Click here read Post#528 for Terms and Conditions
3-month 3.6%
9-month 3.8%

hi was wondering is there anymore bank promotion now?

3.6% for 3 months is considered quite good

oh.. there is no more 4% fd already?