So for 3 months tenure, OCBC with 3.5% is the best I've seen thus far ..

For the private commercial banks, OCBC FD promo (FD protected by PIDM) should be the the best now but got Bank Rakyat offers 3.65% pa for 3 months also now:

http://www.bankrakyat.com.my/web/guest/125

Have asked OCBC staff yesterday, they said if you have FD with OCBC that has expired, you can withdrawal your FD and move the fund to other bank and then transfer back the fund into OCBC to take the latest FD offer.

6 months =3.65% Promotion end June. Renewed my earlier 3 mths FD at 3.6% which was matured.

This post has been edited by gsc: Apr 5 2012, 04:38 PM

Bro, I blur, 3.65% for 6 months which bank?

Bro Gen, the OCBC FD promo valid from 1 April 2012 until 30 June 2012

3-month for 3.5% p.a.
6-month for 3.65% p.a.

My FD matured today so I closed account and would be going back on Monday for the 6-month with the same fund.

This post has been edited by nomen: Apr 5 2012, 07:08 PM

Please advise where did you get this info? Can't find it on OCBC webpage.

Why need to closed account and go back in on Monday? Since FD already matured, why can't withdraw and open a new FD account; on the same day?

I guess because its valid for fresh funds only.
Is this promo for private banking / fd with savings acct only?

Noted. Thanks Bro.

click here for OCBC Promo T&C

or click below link to my blog, just updated it.

Latest Fixed Deposit Promotion April 2012


Talking about AUD FD, got me interested as my daughter is expected to go downunder for her B.Sc. OCBC offering 8.67% for 1 month and their rate for 6 months at 4.58% not too bad. But, who knows what will the exchange rate be down the road.

Was looking at Melbourne banks, the term deposit rates really varies between banks. Maybe I will go do some research and post an article on AUD Term Deposit Rates. Can someone please give a the list of banks in Melbourne that have many ATM around besides NAB, Commonwealth and Bank of Melbourne.

Earlier it was mentioned 6.5% for BankWest but max AUD500 deposit a month.


For OCBC, it is a Fixed Deposit Promo and minimum deposit RM10K

This post has been edited by Gen-X: Apr 5 2012, 08:37 PM

great news! Good thing my funds is still avail have not went to uob yet

Bro, may i suggest that you open a new thread for this foreign currency fixed deposit ? It'd be easier for people to look for information on this foreign currency fixed deposit if it has a thread of its own. One can also post and compare the interest rates for various foreign currencies offered by banks outside of Malaysia. I'm interested in this foreign currency fixed deposit too and if it garners a lot of attention, then we can consider to pin it in the future.

In the meantime, you may want to check out ICICI Bank in Singapore too. Even their USD FD yields the kind of interest rate that is unmatched by any other bank in this region or USA

it is 3.65% for 6 months at OCBC. I just renewed mine. They have also a higher rate at 3.85 %(if not mistaken) for 12 mths. I cant remember exactly. It has conditions attached which dont interest me at all.

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Added on April 5, 2012, 10:52 pmit is for FD only. No need saving account.

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Added on April 5, 2012, 10:58 pmIf I am not mistaken all foreign currency FD in Malaysia will not give you the foreign currency when matured. You hualave to convert it into RM. I have foreign currency FD in Citi and Public Bank. Have to monitor the exchange rate and convert it back into RM.

Dual Currency investment allowed you to take the foreign currency.


This post has been edited by gsc: Apr 5 2012, 10:58 PM

Like that ar. I must go check it out tomorrow.

Based on what gsc mentioned, if have to convert back to RM and cannot renew in AUD, then no point lah I start new thread.

You are right, I see I see clearly that ICICI US FD rates die die also no one can match it.

This post has been edited by Gen-X: Apr 5 2012, 11:47 PM

Eventually you intend to remit the money to Australia for your daughter to use right ? Then i believe you can open a foreign currency account in either Malaysia or Singapore, then debit the money directly from your AUD account and remit it to Australia. I know this is possible in Singapore. Not too sure about Malaysia but i read a while ago that you can do the same too in Malaysia. Once your foreign currency FD matures and you do not intend to renew it, you can transfer it to your foreign currency account (if you have any) in the same bank.

That's what I was thinking but gsc mentioned need to convert back to RM upon maturity. I was thinking of depositing into OCBC promo and earn 8.67% for a month and then continue with their Foreign Currency Time Deposit (NOT Dual Currecny Account). I am going to OCBC to find out more and then report here. And also, I guess I got to have an Australia account too first before I can remit. That's another problem right now.

This post has been edited by Gen-X: Apr 6 2012, 01:19 AM

Sorry for the confusion. When I mentioned you have to convert it back to RM, it means when it matured and you dont intend to renew it.

But, I am not sure if you have a foreign currency account, example Aus$, when Foreign Currency FD is matured, will you be allowed to deposit into your own Foreign Currency Account.

If the bank allowed you to do the "movement of fund' in this way and you plan to use the foreign currency in future then it looks like a good move.

OCBC was having a promotion (not sure still have or not) additional 5% for a month on foreign currency FD. I was actually exploring with the bank staff whether I can capitalise on that additional 5% to earn the higher rate. But it seems at that time she didnt advice to open a Foreign currency account. Either she didnt explore this option or it is not allowed to move the matured FD into foreign currency account.

Anyway I will try to find out as well on Public bank since I have a foreign currency account there.

Must be OCBC has raised their rate a bit because few day ago when I went to OCBC, the girl told me that the FD promo rate for 6 months is 3.6% and 1 year is 3.7%.

For foreign currency FD, it can be renewed indefinitely or stay in foreign currency current account which can be remitted if one wish to, just cannot withdraw in hard cash form.

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Added on April 6, 2012, 10:45 amYes.

This post has been edited by cherroy: Apr 6 2012, 10:45 AM

The big 4 banks in Australia are Commonwealth, NAB, ANZ and Westpac. So presumably they have the most branches and ATM.
HSBC is also a good choice as it allows you to use Westpac's ATM free of charge.
If you are HSBC Premier customer even better - free instantaneous global transfer.

At the moment, some savings accounts in Australia is offering higher interest rates than FD. But the downside is that the savings interest rates can be revised downwards any time.
HSBC Serious Saver: 5.95% for first 4 months, 4.75% after that.
ANZ Progress Saver: 5.76% with conditions (no withdrawal and must increase deposit by $10 a month)
CBA GoalSaver: 5.65% with conditions (one withdrawal a month but must increase deposit by $200 a month)

Thank you Sir for clarifying it.

Thank you very much for the feedback. I just read the above after I prepared my table on Australia Interest Rates. Must go check out ANZ and CBA the next time I update my blog.

What I noted while gathering info for my article is that OCBC Foreign Currency Time Deposit rate can change daily! I noted that the rate for AUD 6 months increased today compared to yesterday.

As for Australia Term Deposit interest rates, boy, lagi complicated, each bank have different rates for different deposit amount. Anyway, those of you who are interested, click below link to read my latest article where I have tables for few Australia Banks Interest Rates and also OCBC, RHB and UOB AUD Time Deposit. You can skip the intro and just look for the tables, hahaha

Australia Education, Term Deposit, Savings Account and Credit Card Interest Rates

Oh, you guys must check out Bankwest mentioned by Beachkid earlier. They are offering 10% for kid's account!!!

Anyway for OCBC Promo, the extra 5% interest for 1 month Foreign Currency Time Deposit is good until 30 June. I might just try it out soon.

This post has been edited by Gen-X: Apr 6 2012, 05:46 PM

Bro, i just read your blog and you mentioned about the interest earned from term deposit in Australia is taxable. Anyway, just to inform you that you can actually deposit your money in Citibank Australia through Citibank IPB Singapore. The catch is you must be a Citibank IPB Singapore Citigold Private Client customer (maintain a deposit of no less than USD1 Million at all times). I understand that the interest earned would not be taxable if you do it this way