CIMB's Angpao looks ugly this year...

But, if transfer fund for new FD promo in another bank, most banks do not accept personal cheque. 

Bro, I not smart enough to illustrate it  I just figure it out in my head that if I have pay monthly and deposit the balance into monthly FD at 4%, that would also mean I would earn less in interest monthly and no way can end up making RM40 profit at the end of 12 months (based on initial RM10K and using part of this capital to pay back the upfront interest in the first month).

normally islamic FD will share interest with bank ..u sure can get 4% full for interest?

I passed by an AMBank branch and caught a glimpse of a banner with 4.45%, any one got any idea what is this promotion about?

Maybank's FD Bonanza

Let's welcome the month of February 2012 with our exciting FD Bonanza Rates! This exciting campaign will commence from 8 February 2012 until 29 February 2012, or upon reaching the set target, whichever is earlier.

Read on further for more information on our latest campaign:

Eligibility
• Individual customers
• Resident of Malaysia and expatriate

Campaign Period
• Launch Date: 8 February 2012 until 29 February 2012

Minimum Placement
• The total minimum placement for FD Bonanza is RM25,000
• The placement will be split automatically to 80% into the FD (RM20,000) and 20% into the Kawanku Savings Account (RM5,000).
• RM5,000 in the Kawanku Savings Account will be earmarked/tagged in order to remain in the Kawanku Savings Account for the three (3) months of the FD Tenure.

Mode of Placement
• Over the counter only.

The special rates are offered only for new placement. Automatic Rollover of FD certificates from previous period will not be entitled for this special rate.

http://www.maybank2u.com.my/mbb_info/m2u/p.../PRO-Promotions

Ya lah, what a joke since the amount inside the Savings Account (earning miserable interest) cannot be withdrawn or utilized for 90 days; might as well go for board non promo 3 months. Anyway, updated 1st post on this MBB Promo.

Reading these small prints make us smarter.... 

RM500K can get 6% 3 yrs tenure <--- Got it from a manyzer friend @ OCBC.

3.6% tell the bank fella to go fly kite la.

If you got > 1 million, you are more than welcome to negotiate for a better rate. I have applied it for my company, and have clarified with the officer that it applies to personal FD also.

I just found the so called 6% only for 3 months FD.
Need to buy UT or product one, nothing to shout about. 
http://www.ocbc.com.my/personal-banking/Pr...pr2011.pdf'

---

Added on March 13, 2012, 11:50 am

so who need to fly kite? 

Opss now 2012, not 2011. My mistake. 

Maybank Islamic offering 5%pa for deposits above RM50K for non withdrawal for 1 month. Is there a catch?

http://maybankislamic.com.my/promo_get2campaign-111230.html

Can somebody explain "incremental average daily balance". Does it mean new funds and daily interest?

was at HL bank and was told the new rate. Couldnt remember it coz on the spot compare against OCBC/UOB and found out it is competitive

You are better off with those FD promotion 3.3, 3.5, 3.6% etc kind of, or like new PB customer special offer etc, which much higher than board rate +0.1%.

The myth of large amount can get higher rate is not necessary must be true, it can be inverse (lower rate), instead higher, depended from time to time, financial market condition, aka liquidity tight or not.

Nowadays, too large sum >Rm1 mil, bank may/can classify customer into Tier 1 which rate may lower than board rate one.

My 3-month FD (under my wife's name) with OCBC maturing on 18/4, if I want to continue with OCBC at 3-month promo rate do I need to withdraw and then deposit it into the FD under my own name?

Isn't that risky? What if the fd chq you bank in to your od acc has not cleared in time for the chq you issued to OCBC?

Suggested to my wife to open a new fd joint-account with my son and then cash out the existing fd and bank in cash to the new fd acc, but OCBC offficer said will still not enjoy the promo rate.
Looks like I have to ask her to IBG to my MBB cheque account before 12noon so that I can issue a cheque to OCBC or Bank Rakyat same day after 3pm.

Two questions:
Different banks have diff limits on the IBG  amount?
Funds IBG  in the morning should be available in the Beneficiary Bank latest by 9.00am on the next business day for all banks?

hi can i ask 1 simple question?
If i choose 1 month FD tenure, will i get the dividen after 1 month?

If Yes - after 1 month, can i apply for the same 1 month FD tenure again? (which mean earning 12 dividen in a year?)

Or my perception of FD is totally wrong?

Tq.