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 Fixed Deposit Rates in Malaysia V2, Read 1st post to find highest rate.

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SUSxander83
post Apr 10 2012, 10:25 AM

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QUOTE(MilesAndMore @ Apr 9 2012, 06:38 PM)
You are saying that you deposit the money through ANZ Singapore but then they will help you to transfer the money to Australia ? But is the deposit earned is still taxable ? Because in the case of Citibank IPB Singapore, it is not no matter how many millions you deposit.
HSBC offers a similar fee free service through its global transfer portal to its Premier and Private Banking customers as well with a daily limit of up to USD100,000 (or its currency equivalent).
By the way, OCBC offers a similar service as well in collaboration with ANZ AU    smile.gif
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It's not taxable as well for me

Citibank IPB case the reason y it's not taxable as they would split the account which still under your name wit citi australia as to not to incur the charges of tax unless u hav reach a million which red flag ATO

i believe u hav to clarify wit Citibank as i believe these days wit ATO u would hav to declare and paid for tax if ur cash assets r worth more than a mil

i do file my taxes wit ATO as to avoid being tax on my savings as well smile.gif
ChipZ
post Apr 10 2012, 12:30 PM

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I'd like to ask why Bank Rakyat is not included. Their FD rate is very high (4.01% for 12 months tenure).
suadrif
post Apr 10 2012, 01:51 PM

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QUOTE(David83 @ Apr 10 2012, 09:39 AM)
The 3% is per annum rate. You need it to divide with with 3 to get the 4 months rate which is roughly 1%.
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thanks for the info smile.gif
i am not sure about the rate if its per annum or per month because some bank does not mention the unit rate.
Now i know it is per annum rate smile.gif

QUOTE(ronnie @ Apr 10 2012, 10:23 AM)
You are indeed SIMPLE-minded.... if you repeat it will be total 3% received after 12 months.
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thanks for the nonconstructive post whistling.gif
SUSDavid83
post Apr 10 2012, 04:25 PM

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QUOTE(suadrif @ Apr 10 2012, 01:51 PM)
thanks for the info smile.gif
i am not sure about the rate if its per annum or per month because some bank does not mention the unit rate.
Now i know it is per annum rate smile.gif
thanks for the nonconstructive post  whistling.gif
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Just as per norm, the advertised rate is per annum basis.
tay
post Apr 10 2012, 05:52 PM

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QUOTE(gsc @ Apr 10 2012, 01:06 AM)
4% for 3 mth FD at OCBC during Mighty Saver Weekend.

This post was mentioned earlier by one member and I asked the bank and was told not true. however, a couple of weeks back, the bank staff said it is true.

1st Saturday & Sunday of the month is the mighty saver promotion period.

To eligible for the 4%, you either have to

1) open a mighty saver account for kid or
2) open a saving account or
3) open a current account

Last Saturday approached the bank and the staff said no. I insisted she checked it up and later she said yes. Another incident showing the staff DOES NOT know their own products.

I waited till I personally can actually opened the saving and enjoyed the 4% for 3 mths last Saturday, then only shared here because it will be embarrassing if it is not true.

Min FD placement RM10k and max RM50k. For existing FD customers, it has to be fresh fund.
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4% for 3 months is good deal.
How do you place your FD (Mighty Saver) online or branch?
Understand that only few OCBC branch is open during weekend (Bukit Damansara and Taman Molek Branch). Are you place your FD at these 2 branch?
Can we instruct RM to schedule the FD placement at 1st weekend of the month (for those branch not operate duringthe weekend)?


esdee
post Apr 10 2012, 06:36 PM

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QUOTE(gsc @ Apr 10 2012, 01:06 AM)
4% for 3 mth FD at OCBC during Mighty Saver Weekend.

This post was mentioned earlier by one member and I asked the bank and was told not true. however, a couple of weeks back, the bank staff said it is true.

1st Saturday & Sunday of the month is the mighty saver promotion period.

To eligible for the 4%, you either have to

1) open a mighty saver account for kid or
2) open a saving account or
3) open a current account

Last Saturday approached the bank and the staff said no. I insisted she checked it up and later she said yes. Another incident showing the staff DOES NOT know their own products.

I waited till I personally can actually opened the saving and enjoyed the 4% for 3 mths last Saturday, then only shared here because it will be embarrassing if it is not true.

Min FD placement RM10k and max RM50k. For existing FD customers, it has to be fresh fund.
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I thought mighty saver is just for kids below 12yrs? My daughter has an account there and indeed the interest rate is high, cant remember how much.
I dont think it is for adult.
gsc
post Apr 10 2012, 09:51 PM

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QUOTE(1282009 @ Apr 10 2012, 01:30 AM)
When will this promotion end and how much we need to bank in to the saving account (for option 2)? Any time limit the saving account needs to remain open?
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asked the bank staff and she said dont know when promotion ends.
saving account RM20, think has to remain open for 3 mths. Cant remember exactly coz not a big sum to be kept there


Added on April 10, 2012, 10:12 pm
QUOTE(ken_zie @ Apr 10 2012, 08:22 AM)
IBG need to wait for the next day. Can only do FD placement when the fund is being credited into your account. There's a cut off time for IBG though. Before 12pm will received the next day. If after 12pm, will take 2 days.
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thanks. In that case Rentas in the morning and open FD in the afternoon will be safer


This post has been edited by gsc: Apr 10 2012, 10:12 PM
ascend
post Apr 10 2012, 10:38 PM

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QUOTE(gsc @ Apr 9 2012, 10:19 PM)
If not mistaken OCBC dont charge provided it is in your name otherwise it RM2.15 like other banks
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Ever wonder why it is free to withdraw in cash but via CO it will cost Rm2.15?
ronnie
post Apr 10 2012, 11:42 PM

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QUOTE(ascend @ Apr 10 2012, 10:38 PM)
Ever wonder why it is free to withdraw in cash but via CO it will cost Rm2.15?
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You are paying RM2.15 for safety/insurance of the money whioch may be lost in transit.
1282009
post Apr 11 2012, 02:07 AM

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QUOTE(gsc @ Apr 10 2012, 09:51 PM)
asked the bank staff and she said dont know when promotion ends.
saving account RM20, think has to remain open for 3 mths. Cant remember exactly coz not a big sum to be kept there


Added on April 10, 2012, 10:12 pm

thanks. In that case Rentas in the morning and open FD in the afternoon will be safer
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Thanks for the info.


gsc
post Apr 11 2012, 03:51 PM

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QUOTE(tay @ Apr 10 2012, 05:52 PM)
4% for 3 months is good deal.
How do you place your FD (Mighty Saver) online or branch?
Understand that only few OCBC branch is open during weekend (Bukit Damansara and Taman Molek Branch). Are you place your FD at these 2 branch?
Can we instruct RM to schedule the FD placement at 1st weekend of the month (for those branch not operate duringthe weekend)?
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For this promotion you have to physically appear in the bank.
I went to Batu Maung branch in Penang Island. Only 2 branches in the island. One in the town which open only on Sat whereas Batu Maung sat and sunday. If not mistaken next mighty weekend is Vesak day. Better call the bank to check your own area.
RM said cannot. they want customer physically appeared

ken_zie
post Apr 11 2012, 04:30 PM

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QUOTE(apple1188 @ Apr 10 2012, 08:29 AM)
HL calls it PAY+ . but got limit per day right? says RM5k per day?
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If you transfer online, there will be a limit. If you want to transfer an amount more than RM5k, then you have to do it over the counter. The fees is cheaper online. For HL, if you do it over the counter, we call it RENTAS. That will cost RM14/transaction.

This post has been edited by ken_zie: Apr 11 2012, 04:31 PM
stchan
post Apr 11 2012, 08:15 PM

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QUOTE(ken_zie @ Apr 11 2012, 04:30 PM)
If you transfer online, there will be a limit. If you want to transfer an amount more than RM5k, then you have to do it over the counter. The fees is cheaper online. For HL, if you do it over the counter, we call it RENTAS. That will cost RM14/transaction.
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Is there a limit if transfer over the counter?
J_Vansen_S
post Apr 11 2012, 09:38 PM

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Guys, I'm kinda new to all this FD in Msia.

I'm wondering how come Msia bank FD interest so high minimum also 3% compared to eg Singapore and Brunei usually only 0.xx%?


SUSDavid83
post Apr 11 2012, 09:47 PM

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QUOTE(J_Vansen_S @ Apr 11 2012, 09:38 PM)
Guys, I'm kinda new to all this FD in Msia.

I'm wondering how come Msia bank FD interest so high minimum also 3% compared to eg Singapore and Brunei usually only 0.xx%?
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The FD interest is governed by the OPR rate from BNM. Current OPR rate is at 3% since May 2011.
J_Vansen_S
post Apr 11 2012, 09:53 PM

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QUOTE(David83 @ Apr 11 2012, 09:47 PM)
The FD interest is governed by the OPR rate from BNM. Current OPR rate is at 3% since May 2011.
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Sorry I'm new to the terms OPR BNM what do they mean?
Since Msia FD interest so high, does it make sense that Bruneian/Singaporean would wanna open FD in Msia?
I know ya, taking into consideration of the exchange rate by the end of the FD period.


SUSDavid83
post Apr 11 2012, 10:06 PM

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QUOTE(J_Vansen_S @ Apr 11 2012, 09:53 PM)
Sorry I'm new to the terms OPR BNM what do they mean?
Since Msia FD interest so high, does it make sense that Bruneian/Singaporean would wanna open FD in Msia?
I know ya, taking into consideration of the exchange rate by the end of the FD period.
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OPR means overnight policy rate.

BNM is acronym for Bank Negara Malaysia - Malaysian Central Bank.
gsc
post Apr 12 2012, 03:57 PM

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QUOTE(esdee @ Apr 10 2012, 06:36 PM)
I thought mighty saver is just for kids below 12yrs? My daughter has an account there and indeed the interest rate is high, cant remember how much.
I dont think it is for adult.
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Banks sometimes do change the policy. That is why I only reported after I have confirmed through opening of FD

wu ming
post Apr 13 2012, 02:06 AM

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QUOTE(J_Vansen_S @ Apr 11 2012, 09:53 PM)
Sorry I'm new to the terms OPR BNM what do they mean?
Since Msia FD interest so high, does it make sense that Bruneian/Singaporean would wanna open FD in Msia?
I know ya, taking into consideration of the exchange rate by the end of the FD period.
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Bruneian/Singaporean dollar is a stronger currency hence the better buying power.
soul2soul
post Apr 13 2012, 09:31 AM

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Singapore tightens monetary policy.

http://www.channelnewsasia.com/stories/sin...1194912/1/.html

Looks like BNM won't be slashing interest rate but may raise interest rate to preempt inflationary pressure in the coming months.

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