Then it will become something like perpetual bonds(sukuk) differnt is monthly payment. MAS pays around 6.9% quite good actually. FD rates pales in comparision, though I would think existing rates are good enough considering it is low risk..

Monthly withdrawals vs lump sum , the debate will be neverending. Both got pros n cons.

This post has been edited by magika: Jun 23 2012, 01:37 PM

Just to be sure, one question on CIMB e-FD:



Lets say, I have placed a 1 month e-FD and let it automatically renew. If i withdraw after 3 months, will i get the interest for 1 month or 3 months? Thanks.

It would automatically renew at your initial period, if initial 1mth then 1mth rate x 3 approx..

normally bank will ask do u want to add on the interest when mature, if yes then the principal plus interest will be rolled on for the next following month, hence u will get the compounded interest plus principal after 3 months

a fren told me hong leong's board fd rate for 1m is only 2.9% now.

another banker says australia would be cutting rates next month.

a chance zeti planning to cut blr at next month meeting?

I was at a HLB branch 2 days ago and what caught my attention in their electronic display board (LCD TV) was it shown interest rate higher if the deposit amount is more than RM1m and longer duration. Next time you go HLB check it out. And currently for up to RM2m, one can enjoy 3.7% interest but need to deposit RM50K into CASA.

As for BNM actions, we just have to wait till early next month, but in the meantime you may want to read this.

This post has been edited by Gen-X: Jun 24 2012, 09:58 AM

Ok so far the best 1 month tenure in July will be 3.00% only.

Bro, you forgot the check Affin's rate - 1 month 3.05%

Thanks, left that one out

So is this a sign of good or bad?

For longer term Bank Simpanan and MBSB are offering attractive rates, at least 4% for 5 years and need not to be in millions

This post has been edited by gsc: Jun 24 2012, 02:45 PM

AMBank e-FD is 3.05% too, not sure why is not shown anywhere on the website but once you placed the funds, you can see it.

Hi all, just for sharing....

I've just returned from HSBC Amanah Kota Damansara.
Took their new branch opening offers: 5% 3 month TD-i for non-premier category.
The requirements and process seems rather straight forward.

Required the following 2 products to be openned:
1. Term Deposit-i: min RM5k, max RM50k.
2. Amanah Advance Acct-i: min RM100.
(I have highlighted about the T&C said min RM500, the teller said RM100 is enough. RM500 is for Amanah Advance Acct-i alone.).
She said the TD-i slips will be ready when my cheque cleared. I requested her to mail it to me instead of collecting at branch.
I also requested for internet banking. It is FOC.
I was given a big golf umbrella and recycle bag as welcome gifts.

This should be the highest FD rate for the moment. Highly recommended.

This post has been edited by tbheng: Jun 25 2012, 02:05 PM

How much is the cost for Cashier's Order/Bank Draft to take the FD money out of HSBC after 3 months ?

Hi guys, last week i got myself a cashier order for FD placement at Affin, the officer asked me to deposit the cashier order in a newly setup savings a/c and wait for 3 days clearance before they can proceed with the FD placement. Since it's a new joint saving a/c, the officer also asked me to pay RM10 stamp duty for Letter of Indemnity (applicable on Joint saving a/c).

Is it a normal practice in Affin? I mean need to wait for cashier order clearance in order to open a FD a/c? and Stamp duty I hav to bear the cost??

And the officer also recommended the GIA over the Conventional FD for 12-month tenure, as the Indicative rate is slightly higher @ 3.608% vs 3.6%, and partial/full withdrawal is allowed without any penalties, eg. If withdraw before maturity after 3 months, the rates given will follow the 3-month tenure indicative rate @ 3.097% p.a. Is the GIA a better deal? I m abit worried on the indicative rate as opposed to conventional fd rate.

Pls share ur thoughts. Thanks in advance!

This post has been edited by mimi1986: Jun 25 2012, 03:03 PM

Hmm...didn't ask about that just now.
If bank draft is too costly, I may consider interbank GIRO (which is the standard RM2 I guess).

Hi thanks for sharing.

I plan to do it tomorrow but before that, may I know if I entitle any charges to cancel the Amanah Advance Acct-i account and withdraw the FD on the 4th month?

Because you bank-in the cashier order to your new savings account that is why you have to wait for clearance. If you open the saving account separately by way of cash and deposit the CO directly to FD account, then the FD shall commence on the day you presented the CO.

I asked the same, the teller said no charges. It is no charge for the entire 12 months from the date of opening. No penalty to close it after I uplifted the TD-i.
Share your experience as well when you returned.

If you close within 3 months, there's a RM20 charge....