RM5k - 3.00% (1 mth) = RM152.08 (12mth) compound interest
RM5k - 3.15% (12 MTH) = rm157.50
dIFF = rm5.42

For RM50k, would it interest you if the difference is RM350.43 ??

eFD is it, very convenient.
It would be better to grow your money at a faster rate. Go for Bank Rakyat 3mths 3.65%..

Yes , can deposit and uplift go direct back to savings account. Thats what i did for my funds below 30k, break it into 5k each(min i think), if needed instantly uplift. Do not need account with Bank Rakyat, if you want higher rate without complicated terms, then I say go for it. Your choice of course.

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Added on June 26, 2012, 8:53 pmIf not mistaken need to have fd account once then only can, sorry forgotten as i used to have quite a number of FD accounts with Maybank. Oops 1k can but min 2mths.

This post has been edited by magika: Jun 26 2012, 09:08 PM

For MBB, eFD need to use old FD account number added with i , if not mistaken, thats why without previous FD account number has to go to bank to open.

Oops, sorry no i..

This post has been edited by magika: Jun 27 2012, 03:05 PM

Quote from M2U

5. When is the effective date of my eFD?
If you already have a Fixed Deposit account with us, the new placement under eFD will be effective immediately. If you do not have a Fixed Deposit Account, the placement will be effective when your banking account is debited and the eFD is created by our branch (on the next working day upon making a placement request via Maybank2u.com).

So maybe without previous FD account, eFD effective only next working day..

Not very sure as I have a few previous FD account with Maybank.

That means is confirmed do not need previous FD acount, but effective date whe, is it same date of placement?

Its not the first time, already have previous FD account, eFD also done last month I think..

Saw newspaper advert Hong Leong Bank 3 mths at 1%+ 2.95%. Not sure whether any complicated t&c..

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Added on June 29, 2012, 8:00 amBank Rakyat ?


This post has been edited by magika: Jun 29 2012, 08:00 AM

I have ask the counter clerk before n it seems more than 3 mths only can get monthly profit. Not very sure. My next musical chair round will be around August, then only will confirm..

The first round with Bank Rakyat, I was not aware of monthly profit with quite substantial deposit

This post has been edited by magika: Jun 30 2012, 11:44 AM

There is a grace period of 6 mths before the service charge kicks in. So my RM told me.

Most of us will be very happy indeed to get such a return..

Can deposit as we like ?
My EPF account still 0 withdrawal.

This post has been edited by magika: Jul 17 2012, 08:22 AM

Thats what happens to me to me too something lke #svc giro cr#
dont know what it is. My missus once ask the bank also they blur..blur or lazy to check.

This post has been edited by magika: Jul 17 2012, 05:54 PM

Yea i know however date n amount dosent tally.
Thanks but must have a better way offinding out. Imagine for those dealing with contractors, transfer to our account regularly then report to MACC..

Could not find it on the website? Is it for new premier customer promotion, which previously for aum?

The original question from GymBoi was whether its more worth it to roll 3% 1 mth fd for 12 mth consecutively vs 12 mth 3.15% one placement. I merely correct the calculation as his calculation did not take into account compound interest.

Thanks Human Nature to clarify on behalf..

Just to clarify further, 1 mth fd rollover for 12 mths vs 12 mth one placement. Normal principle is 1 mth fd placement is better for small funds (5 - 20k) that there is a possible 50% odds that you may need to uplift it before the maturity date thereby losing the interest for the mentioned period. For me I placed it using eFD as it will be faster to uplift to savings account. For this the interest rate % doesnt really matter. Funds with a 25-35% odds (around 50 k) that maybe needed before mature date, i placed around 3 mth period. Funds higher(not needed) will be placed 12 mth FD. Usually we play musical chairs on fd placement period between 3mth - 12 mth though for retirees it will be better to placed at 60mth(read my lips BR) with interest monthly credited to savings account. My way only of course..

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Added on July 28, 2012, 10:49 amthanks..

This post has been edited by magika: Jul 28 2012, 10:49 AM

3% 1 mth 3.15 % 12 mth not that tough

Ideally place FD 12 mth mature every mth , but to take advantage of most promotion ie Premier Banking most of us lump up if possible so taking min sum at RM300k x 12=RM3.6million will be tough. Though some banks do offer competitive board rates, thats where I m concentrating at the moment. Butbased on my assumption that max emergency funds that is currently needed does not go more than RM20k, so quite safe. If emergency funds exceed 20k it means that there is no proper planning.

Yup do agree that different person have different approach. Most of us are trying to maximised our return though sometimes quite tiring playing musical chairs..

Guess have to go back to OCBC for 3 mths as have a number of FDs maturing next month though on different dates.
Wonder whether can top up?..

This post has been edited by magika: Jul 28 2012, 06:39 PM