Unlikely any penalty will be charged, as the bank already earned their "interest" for the 30 days

Thanks all...

maturity day is not counted....coz if you re-open a FD on maturity day, the new FD will start on maturity day itself

thanks for clarifying. im a bit smarter now

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Added on April 16, 2012, 9:00 amanyone can share excel file for fd calculation as i hv quite a number of fds. thanks

This post has been edited by magika: Apr 16 2012, 09:00 AM

FD interest no need to have spreadsheet. The calculation is pretty straightforward as no thing is complex over there.

This post has been edited by David83: Apr 16 2012, 09:24 AM

Aren't you a bit lazy ? Create your own and let us comment if there's any mistake.

yup, got it. =A2-A1. Pls comment

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Added on April 16, 2012, 10:12 amguys, nostalgia... i was going thru old copy of fd 7 found one from Maybank Finance years back ... rate was 9.00% for 9 mths fd .. fuiyoh

This post has been edited by magika: Apr 16 2012, 10:12 AM

Hi all, usually if we deposit a large amount (fresh fund) to FD, we can nego for a better rate.
just roughly how much is the minimum amount? (e.g 1M, 500K or 200K... etc) and what is the better
rate can nego? 0.05%, 0.1% above the normal ones?

understand that different banks may have different bench marks... but any of the sifu here came across this
with the RMs ?

You are better off with those FD promotion 3.3, 3.5, 3.6% etc kind of, or like new PB customer special offer etc, which much higher than board rate +0.1%.

The myth of large amount can get higher rate is not necessary must be true, it can be inverse (lower rate), instead higher, depended from time to time, financial market condition, aka liquidity tight or not.

Nowadays, too large sum >Rm1 mil, bank may/can classify customer into Tier 1 which rate may lower than board rate one.

Hi cherroy, thx for the explanation. am i right to say that,
banks define customers into Tiers wrt their FD amount, and offer different rate for the diff Tiers.
Large amount might not get a better rate, instead, a lower rate can be the result.

if that is the case, an example... say i have RM200k wan to put in FD, it is best for me go around
the banks and ask for the best rate? as i am also not sure which Tier / Band the banks will classify me as
(with the 200k).

thx again for the help.

I concur with you that large amount deposit does not guarantee higher interest rate. It is very much depend on market liquidity, loan portfolio etc.
Yes, one might get lower than board rates if the deposit amount is too large. (depending on banks and current market liquidity)

This post has been edited by aeiou228: Apr 16 2012, 01:10 PM

Guys, I did the calc for my OCBC fds which tally with the actual amount on withdrawal. However calc for my MBB fds all came out with discrepancy less than RM1. The amount is negligible but just to confirm my calc.

Can please check whether my calc is correct,

(nos. of days / 365) x % x Principal

thanks

fdsiao, for less than RM500K, don't waste time nego, go play FD musical chair like some of us (me included).

Having said the above, if you have few million with the bank (not necessary per deposit), it depends on you relationship with the Bank Manager/RM (treat them good like take them out for lunch), they can always email/call HQ and request for higher rate (for existing funds) that can at least match Affin's rate. This is true for HLB, OCBC and UOB but it is on a case to case basis. Even Affin Bank Manager can request from HQ higher than their 3.6% 12 months if you depositing 1 million and above.

I have mentioned before for companies, check with OCBC and UOB Commercial Dept and you'll be surprised that they can beat Affin's board rate.

This post has been edited by Gen-X: Apr 16 2012, 01:29 PM

Why bankrakyat FD less people talk about it?

4.01% pa 12 month

can anyone pls explain what is the difference between conventional FD and islamic FD?
TQ

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Added on April 16, 2012, 3:09 pmbut base on the web site its write Qiradh Investment Account-i, not FD


This post has been edited by frank76: Apr 16 2012, 03:09 PM

Only more than Rm1 mil, only tier issue apply.

For 200k, one can go through those as new PB customer, or "premier gold" or whatever name (different name used by different name), most offer good rate to new privilege customer one.

Bank Rakyat hv 3 diff FD. 1 is fluctuating int, 2nd is fixed int, 3rd is senior citizen.

Hi cherroy and Gen-X, thank u very much for the info.
i shall try out HLB, OCBC and UOB for 200k.

mind share the 3 different rates? Thank you

Bro, see first page lah, you want 3 and 6 months goto OCBC. You want 12 months go to UOB.