If you know how it works, you can get the calculation done in less than a minute

Mind giving me the formula? xD

Go back a few pages. They are a few examples already. x, divide then x again. So simple.

you can count all you want, your answer will still be wrong based on your assumptions, hahaha

OMG, you don't even know how FD interest is paid and you want to tell us the interest earned

Like I said, not only is your interest calculation not accurate but the interest payable is based on interest rate tied to the fixed tenure and not like you assumed.

You want us to teach you how to do your homework? It is against rules and regulation lah, but I already gave you the definition of the formula. For further information, go google for it.

This post has been edited by Gen-X: Dec 10 2011, 05:21 PM

Bro, the rules state that no mlm scheme.
The no homework rule only applies for education corner.
Just admit you are not willing to share your knowledge.
This thread is made to discuss about fd so I have the rights to ask for guidance.
Or else this thread beats the purpose.
If you talking about shares maybe you won't want to share your secret but this is fd.
Even you know the kungfu the bank won't give you any privillege.
I duno what you will get by not sharing the knowledge but what makes you and me different is I have the guts to try and share it out while you don't.

Use uncle google lah... we don't spoon feed info which are so simple where you learn in SPM

As i've said, go back a few pages and you can find your answer there.

Bro, I have actually given you the definition of the formula, once gain, in case you did not comprehend what I spoon fed you earlier, here it is again

"the interest payable is based on interest rate tied to the fixed tenure"

and once again, you have to note what I mentioned about calculating interest is based on days and not months.

If you understand the definition, then you can come out with the correct formula and even expand on it. Furthermore, there is no point in calculating future interest payable after the fixed tenure unless you can predict the future and knows what is the interest rate will be. Another thing, for FD more than a year, interest may be paid monthly or half-yearly depending on the terms and conditions and this said interest paid does not earn the same interest rate as the Principal.

FD interest earned is the simplest as it is fixed based on the rate and tenure accepted.

who put money into maybank under ?

General Investment Account-i
A Shariah-compliant investment account based on the concept of Mudharabah (profit sharing)

The one credited on 3-Nov should be the bonus interest. On 31 October there should be a standard interest credited also

UOB provide the best rate currently?

I thought this is like unit trust?

No. It's not. Many other bank offer this kind of Shariah compliant FD too.

anyone got any ideas where to put money after SCB 5% promotion is over in January?

any similar products offering 5% pa ?

Thanks for reply. Anybody know how to track this part of forum?

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This post has been edited by MilesAndMore: Dec 15 2011, 02:30 PM

I am aiming for Affin Bank unless I can get a consistent higher rate elsewhere
Affin offers 3.6%

You might want to check out OUB, 12 months = 3.75%. I think that is the highest conventional FD rate at this moment. If any SIFU can find any higher rate, please share.

Thanks in advance.

With this special interest rate offer for fd, I guess banks are short of liquidity.

I think some people may have mention it before, I cannot seem to find on the website or on the promo page.
Anyhow, any conditions & what is the minimum amount to earn that rate?