Hi, it's compounded monthly.

For the MBB FD Promo. this is what I was informed:

1st 6 Months 3.35% and roll over (allowed 1 time only) for 2 months 4.05% and applicable for over the counter placement only. Promo ends 24 August 2012.
Minimum Fresh Fund Individual RM20K
Minimum Fresh Fund Company RM50K

Based on above, average 3.525%

The good thing about MBB is that their FD Promos are also open to companies too.

As you can see, Zoe26's info and mine are not the same. Anyone else got info on MBB FD Promo, please report.

Once again, for latest FD Promos, please read page#1 or click here to my Fixed Deposit Promotion Page.

This post has been edited by Gen-X: Jul 27 2012, 05:37 PM

hi all, i went check the OCBC 4.5% FD offer, i think it's good for people that have time to switch. it's for 3 months only. 80% of fund will get 4.5%, 20% of fund will get 3%.

there have another one, unit trust linked. 50% of fund get 5%, another 50% get 4% but have to invest in 6 months investment which have some risks.

any thought from you guys?

there have another one, unit trust linked. 50% of fund get 5%, another 50% get 4% but have to invest in 6 months investment which have some risks.
Can explain more? 1st 50% - time deposit 5%, 2nd 50% - time deposit 4%, no more balance for unit trust already??

for the 2nd plan above, another 50% get 4% one time deal, but the money have to invest break into 6 for 6 months period.

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

the compounded interest is based on the assumption that the monthly interest does not change throughout the twelve month periods which may be tough at this moment.

another way of playing musical chair is having FD mature every month, that will take care both short and long term (1 year) needs

This post has been edited by gsc: Jul 28 2012, 11:24 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.

every month rm300k? nobody is talking about this amount every month. If that guy has that much then he wont be playing muscical chair. Further more some banks provide similar offer to non-premier customer, UOB example.

I am just sharing alternative approach of playing musical chair. There is nothing wrong to need emergency fund exceed 20k, example medical needs. .emergency is something unplanned or couldn't be planned like natural disaster, accident...the emergency amount is also dependent on that person spending pattern.

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..

yah yah like some members who have lots of money maturing monthly making fun of us who playing musical chair, hahaha

Most of those offering very good rates like 5% for opening or upgrading to PB status is good only for the 1st time and usually limited to 3 months.

And yes, I agree, do not need PB status to enjoy high interest rates. For example previous offers for SCB 5% for savings account and HLB previous Junior FD 4.5%-5%. Currently OCBC Combo 4.5% very good (but also 1 time only unless open more new savings account i.e. Junior and Gold). Too bad nowadays most promos 3-6 months and can't find >4% for 12 months. That's why I get to play FD Musical Chair, haha

For those smarter ones, they no need waste time with musical chair, they go with Bank Rakyat

This post has been edited by Gen-X: Jul 28 2012, 01:56 PM

quick summary, detail refer to Bank website, May Bank not included as info. given are different and low compare to the following.

Best 1 month
Bank Rakyat, 3,26%, UOB 3.25%, Public - 3.1% (senior citizen)

Best 3 month
OCBC, premier 5%, saving combo 4.5%, mighty saver 4%
http://www.ocbc.com.my/personal-banking/Pr...n=q3-fd-booster

HL Bank 2.95% + 1% =3.95% (best put in junior saving account)

http://www.hlb.com.my/promo/pfs/dep_bankwi...dex.jsp?s=promo

Best 6-Month
Kuwait FH - 4% for Gold and 3.85% for non-gold

http://www.kfh.com.my/kfhmb/v2/contentView...ion%2FI+am+look

bank rakyat - 3.75%

http://www.bankrakyat.com.my/web/guest/126

Best 9 mth
bank rakyat - 3.85%

OCBC 3.6%

Best 12-Month
bank rakyat - 4.01%
Kuwait FH - 4% for Gold and 3.85% for non-gold
OCBC - 3.8%

Can't find the info for this one, mind please post the links or details?

For HLB promo, must new saving account only can entitle for it....

thank you for the summary. Bank Rakyat the "winner" with 4 out of 5

To add to above,

Best 2 months - 5% for new CitiGold account up to RM200K (last I checked - anyway if interested check with Citibank).

Best 3 Months - HSBC New Amanah Branch offer of 5% up to RM50K and RM100K for Advance and Premier respectively.

From the terms and conditions, it is not stated a new saving account needs to be opened unless you don't have one.

thanks for adding the info. HSBC new branch not happening in Penang, I missed it out.


Please take note bank Rakyat is not PIDM protected

This post has been edited by gsc: Jul 28 2012, 05:00 PM

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

I've one expiring in mid-Aug. Guess will go for UOB - 3 mth @ 3.55%, more straight forward. The rest is really too complicated in calculation..

I think we are on the same boat, too complicated terms confusing us..
Maybe I will just let it stay where it is..

This post has been edited by magika: Jul 28 2012, 06:50 PM

Bro, not complicated if you just going for 4.5% combo. As pointed out by another member previously, the 20% in the savings account does not need to be maintained in the Smart Saver for 90 days. Only thing is got to maintain minimum RM20 in the Smart Saver Account. So you got to consider deducting this said RM20 when calculating the effective interest rate.