Planning to save 15k for half year at FD,  which bank giv best rate of interest ? pls suggest

Latest rates by OCBC - as usual minimum RM10K fresh fund.

3 Months - 3.5%
6 Months - 3.6%

Too bad no longer term but it is better that UOB by 0.1% 

Alliance Bank 3.6% for 3 months ended last month and currently no new promo.

Updated my blog and first post too. To read my comments on current promos please link to read more at my blog.

Malaysia Banks Fixed Deposit Promotion April 2012

** Edited**
Too busy recently with RTKXI, just read The Star and saw CIMB Ad for their Preferred Customers.



Average 3.56% but I got no idea if need to deposit funds into CASA to be eligible for the promo.

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

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.

StanChart latest step up FD promo until 6 May 2012. Minimum fresh fund RM50K. Average 4%. Click here to my blog Fixed Deposit Page to see more promos.

I'm considering this .. any comments guys?

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Added on April 28, 2012, 1:52 am

I also received sms on the cash back promotion. I checked their terms/application form. The annual fees is RM250 for platinum card + RM50 govt tax unless we can terminate the card before they charge the annual fees else really no point since most cards nowadays are free for life.

Bank Rakyat is covered but not under banking institutions. It is classified as deposit taking development financial institutions under PIDM.

http://www.pidm.gov.my/downloads/list_of_g...aranteed_fi.pdf

According to the terms and conditions -

11) If a New Customer applies for more than one credit card through any application channel during the Campaign Period, the cashback will only be awarded to one credit card, namely the credit card with the highest cashback entitlement.

Since you have two cards approved, did you get the cash rebate for one card or two cards?

What if the government goes bankrupt? That is what one of our minister predicts.

Use tax payer's money to bail out a bank because of poor management? Well, good reason to have Bersih V8.8 and the end of BN for sure. Today's educated rakyat is different from last decade.

OT: Since the days of Dr. M already corruption is rampant.... Dr M was very smart to keep it under cover only. Do you really think corruption started recently only. The govt won't bankrupt that easy lah. PKR will be the same as BN only... PKR = wolf in sheep's clothing only.

What was the amount of cash rebate per card that you've got last year?

I would like to open with SCB Step up but need to open CASA.

If with Bank Rakyat, dunno will bankrupt bo after exxxxx

all sifu,

would like to know which bank offers the best FD product as per below conidtions:

- FD principal amount = RM3.0 millions
- FD tenure = 60 months
- need FD interest credited monthly

What is the best interest rate currently bank offers?

Heard someone said if FD deposit more than RM1.0 millions, you might have lower interest rate / kena withholding tax.

Also, how to calculate the FD interest amount per month?
e.g. RM3.0 mil x % of interest rate / 5 years x 30 or 31 days?

Should I separate the amount (e.g. RM1.0 mil per bank) or all into one bank?

Also, knowing that maybank offers 3.8% p.a. for 60 months but don't know whether it applies to RM3.0 mil or not?  any advice?
Your kind attention and helps are much appreciated.  TQ in advance

SCB 's latest campaign (cashback reward) gives up to rm300 (4% return - annualised) if your average daily balance is rm30000 or more for a period of 3 months in the CASA. Presumably you would still get the usual 1.6% pa for the supersalary casa.

average balance growth5 of RM10,000

That is the keyword. Where do u get the 4 % return ?

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Added on May 4, 2012, 9:28 am

it does not sound good when there are too many tricky words in the terms n conditions.

its 1% cashback when u use the debit card, but if looking at the example(T&C) only ADB min 10K (per mth 300k) 

Ps: I think u posted on the wrong thread. Sould be Credit Cards thread. 

Bro, do update us more on the T&C besides what mentioned by ronnie and when do you actually get the cash back (or is the cash back the so call 1% for RM30K deposit and you get nothing extra if you deposit more than RM30K?).

Standard Chartered Deposit CashBack Rewards Campaign and Gold Coin Contest
4.      To participate, new customers must open an e$aver or SuperSalary account in either May or June 2012 and existing customers must have a
          current or savings account (CASA) with Standard Chartered Bank Malaysia Berhad or Standard Chartered Saadiq Berhad before 1 May 2012.
5.      Average balance = Total of day-end balances in the CASA account every day in that month/ Number of days. Average balance growth is the
          increase in average balance as compared to April 2012.
6.      Customers must perform at least one online bill payment or ATM cash withdrawal or debit card purchase transaction from their Standard
          Chartered account during the promotion period.
7.      To be eligible for CashBack, customers must have minimum RM10,000 CASA average balance growth in either May or June 2012, as
          compared with April 2012 CASA average balance, and maintain the amount of that growth for 3 months, as well as satisfy all other criteria.
8.      CashBack amount depends on customer’s CASA average balance growth.
9.      For the Gold Coin Contest, customers are entitled to 1 contest entry for every RM5,000 in their total CASA average balance growth in each
          campaign month (May or June 2012) as compared with April 2012 CASA average balance.
10.    The above is merely an excerpt of the Terms & Conditions governing the Standard Chartered Deposit CashBack Rewards Campaign and
          Gold Coin Contest; and the Free Transaction Fees & Debit Card CashBack on Debit Card Promotion.
          Click the above links for full Terms and Conditions.

Excerpt from T & C

Table I
Total CASA Incremental AB (RM)
CashBack Rewards (RM)
10,000 to 19,999.99
100
20,000 to 29,999.99
200
30,000 & above
300
EXAMPLES
Continuing from Example 1 above:
From Example 1, Mr A’s Total CASA comprises 1 Savings and 1 Current account with SCBMB, and his Baseline is RM20,000.
The total of day-end balances in Mr A’s Total CASA during May 2012 is RM1,000,000. His Total CASA AB for May 2012 is RM1,000,000 / 31 days = RM32,258.06. His Incremental AB for May 2012 is therefore RM32,258.06 – RM20,000 = RM12,258.06, which satisfies the May minimum Incremental AB requirement.
Mr A uses his Standard Chartered debit card to pay for petrol on 15 May 2012. He therefore satisfies the Qualifying Criteria in May, and his Tracking Period is from 1 May 2012 to 31 July 2012, (92 days).
The total of day-end balances in his accounts during the Tracking Period is RM5,000,000. His Total CASA AB for the Tracking Period = RM5,000,000 / 92 days = RM54,347.82.
In this case, Mr A’s Incremental AB = RM54,347.82 – RM20,000 = RM34,347.82; which means Mr A will be eligible for RM300 CashBack Rewards.