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 Fixed Deposit Rates in Malaysia V2, Read 1st post to find highest rate.

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MGM
post May 5 2012, 09:31 AM

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QUOTE(lkcheng @ May 5 2012, 07:34 AM)
According to the explanation from SCB site, if opening an account on 31 May, bank in RM30,000 and on the same day you perform an online billing transaction, or use debit card or do a withdrawal from ATM, you would meet their criteria and eligible for the offer. Since you started on 31 May, your tracking period will be 62 days instead of 92 days. At the end of the tracking period, your AB for the entire 62 days tracking period will be RM30,000, thus will be rewarded RM300. This really sound good.

This is according to their term written in their site, but to confirm it, I think it is better to walk in and talk to their officer.
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If I open a CASA account on 31-May(Thurs), get an ATM card and bank in rm30k by other bank's cheque which will take a few days to clear, then the ADB for May would not be rm30K? Then must do a Rentas in the morning of 31-may.

BTW does one need to be employed to open a SuperSalary acc? What about fulltime housewife? Can't find the requirement on their website.

This post has been edited by MGM: May 5 2012, 09:34 AM
MGM
post May 5 2012, 11:12 AM

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QUOTE(lkcheng @ May 5 2012, 09:59 AM)
If you use banker cheque, you need to bank in on 29th May before 2.00pm so the cheque will clear on 31 May. It is not like the usual FD where your FD period started at the time when you give the bank cheque to the bank staff. If you decide to use ATM card, you need to make a withdrawal to meet the criteria. But I still think it is better to ask SCB to confirm if you will get RM300 for putting in RM30,000 on May 31 though their example told us so.

Not so sure about this Supersalary account but I know that the eSaver account can be opened by anyone.
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If open acc on 29-may with initial deposit of rm30 then must bank in cheque of rm31970 (which will only cleared on 31-may), your ADB for May would be rm10667 and ADB for tracking period from 29-May to 31-July(64 days) would be >rm30000, hence will qualify for rm300 cash rebate. Someone pls reconfirm.

Supersalary enjoys better interest rate than e$aver.

MGM
post May 6 2012, 06:01 PM

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QUOTE(1282009 @ May 6 2012, 05:44 PM)
AmBank used to give good FD rates once in a while during promotion but its been quite some time ago.

The SCB promotion is really confusing. RM31k for 2 months (~64 days, 29 May to 31 Jul) and RM300 cash back which translates to about 5.5% interest is quite hard to believe. If anyone receives any confirmation, please do update here.
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SCB has been giving away rm300 cash rebate for credit card application. So i think this is their marketing techniques. Not many (at least those who dont read this forum) will bother how to optimise the returns like what we did here.
MGM
post May 7 2012, 03:32 PM

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To fully taking advantage of this SCB RM300 Cash Rebate promo, I think it is best to open the SuperSalary account.
The benefits are:
1. No minimum deposit to open ac,
2. Free ATM card with unlimited ATM and OTC access,
3. No minimum monthly average balance,
4. High interest rate for balance>rm1000 of 1.5%

This post has been edited by MGM: May 7 2012, 04:12 PM
MGM
post May 8 2012, 05:23 AM

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QUOTE(saber1 @ May 8 2012, 12:34 AM)
Contribute as thanks to the infos here.
I joined this SCB RM300 cashback SuperSalary Account/ E$AVER ACCOUNT and the officer confirmed only need to deposit in May RM30K, use the debit card to deposit and withdraw before leaving the bank, then just wait for Aug to collect the RM300, and if luck gold coins too.
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You have existing CASA account or new to bank?
Since there are contradicting info from SCB, better to withdraw rm50(minimum) thru ATM every month and make sure ADB is always >rm30k.

This post has been edited by MGM: May 8 2012, 07:02 PM
MGM
post May 14 2012, 02:22 PM

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With RM2.5Billion from SSR 2009 in the market this couple of days, wonder there will be any FD promo to attract this pool of money.
MGM
post May 16 2012, 10:29 AM

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Got my Sukuk Refund(MBB) on 15/5/2012 and did GIRO(rm2) to SCB SuperSalary and CIMB MoneyMultiplier at 11am. Remitence credited in both accounts on the same day and not the next day as I was told. Effective returns from SCB promo works out to be 5.24%.

This post has been edited by MGM: May 16 2012, 10:48 AM
MGM
post May 16 2012, 11:06 AM

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QUOTE(aeiou228 @ May 16 2012, 11:03 AM)
Interesting post.
MBB interbank rm2 giro to SCB and CIMB, what is the maximum daily fund transfer limit per M2U account ?
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Each GIRO at RM2. Over the counter no limit. Online I think is rm5k.
MGM
post May 16 2012, 11:41 AM

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QUOTE(magika @ May 16 2012, 11:14 AM)
Online confirmed to 3rd part acc - RM5k

Giro OCBC RM0.50 only if I remember correctly...
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I think GIRO fro SCB SuperSalary is FREE.
MGM
post May 18 2012, 06:04 AM

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QUOTE(GulengBeng @ May 18 2012, 02:44 AM)
Just wondering for those who keeps track of FD promotions, wouldn't that mean that you'll have to open one account here for one bank for one promotion and another bank for another promotion?
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If it is WORTH the effort, why not?
MGM
post May 24 2012, 10:19 AM

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QUOTE(cherroy @ May 24 2012, 09:46 AM)
Super Salary is a current a/c.
You can have a cheque book with the a/c.

Debit card/ATM card /= saving ac.
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Supersalary is a current account with cheque book and ATM/MastercardDebit card.
MGM
post May 28 2012, 05:03 PM

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QUOTE(gsc @ May 25 2012, 11:43 PM)
have read the previous posts. just want make sure I am doing the right thing for SCB cash back promotion.

I already have e$aver account but it seems that eSalary is enjoying a higher interest.

on 1 Jun 2012, open eSalary account with RM30,020 deposit
make 1 transaction during 1 Jun to 31 Aug
Leave the money there till 1 Sept

and enjoy RM300 cash back.

for those already in deposited the money in May, is this correct?

Thank you
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Since you already have an existing e$aver acc, you need to include both accounts to calculate the baseline balance. Better check with SCB about the amount needed to bank into the new account.
MGM
post May 30 2012, 01:38 PM

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QUOTE(1282009 @ May 30 2012, 10:49 AM)
When I opened mine last time with banker's cheque, I got the cert on the spot.
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Got mine on the same day but they took >30min to issue the certs. Slow service just like most civil servants in the past.

This post has been edited by MGM: May 30 2012, 01:39 PM
MGM
post Jun 9 2012, 08:05 AM

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QUOTE(timcheah007 @ Jun 8 2012, 04:28 PM)
you can get annualised rate of 12+ % p.a if you apply for standard chartered for 3 months, assuming minimum of RM10k
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Which SCB product gives 12+% ?


Added on June 9, 2012, 8:07 am
QUOTE(1282009 @ Jun 8 2012, 08:24 PM)
BR is not insured under PIDM. Confirmed with the staff when I opened my FD last time.
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We have gone thru this matter regarding BankRakyat and PIDM in prev. posts.

This post has been edited by MGM: Jun 9 2012, 08:07 AM
MGM
post Jun 17 2012, 11:39 AM

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QUOTE(ascend @ Jun 17 2012, 09:55 AM)
Think of it this way.

There are 3 offers
1) Waiver of fee for 12 months for advance amanah (obviously only applicable if you open an advance amanah)
2) 5% term deposit offer (must open premier or advance amanah)
3) 1% off personal finance

Offer 1 and 2 are related, but the third offer is on its own (T&C did not mention any other related product you must apply at the same time).
The T&Cs, just like in the past, are poorly written - sometimes almost amateurish.
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After reading thru here and HSBC website, need to reconfirm the following:
What is the max amount of deposit that will enjoy 5% interest? rm50k?
Deposit can be spread over different days?
Promo ended on 30Sept?

MGM
post Jun 17 2012, 12:32 PM

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QUOTE(ronnie @ Jun 17 2012, 12:01 PM)
Yes RM50k if you open the HSBC Advance Amanah-i
You get the 5% promo rate once on the SAME DAY you open the HSBC Advance Amanah-i account at Kota Damansara/Wisma UOA II
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Thanks
MGM
post Jul 3 2012, 02:17 PM

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QUOTE(Gen-X @ Jul 3 2012, 08:39 AM)
Thanks for update and here is latest for OCBC:

3 Months 3.50%
9 Month 3.60%

Combo FD and Savings - 3 Months FD 4.5% where 20% equivalent amount deposited into FD must be deposited into a NEW Savings Account and maintained for 90 days. No offers of PB customers at the moment.

And this weekend got Mighty Savers? You guys who have children can check it out and earn 4% 3 Months FD.

So far looks like HLB offer for 3 Months 3.95% very attractive if there is no maintenance period for the savings account thingy.

As usual click here to my Fixed Deposit Page for latest Promotion FD interest rates.
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For the Combo FD and savings promo, can the new savings account be the smartsaver account which enjoys up to 3% interest?
Can't find the link at OCBC website.

This post has been edited by MGM: Jul 3 2012, 02:18 PM
MGM
post Jul 3 2012, 03:30 PM

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QUOTE(Gen-X @ Jul 3 2012, 02:50 PM)
haha, I wondering that too.
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The previous Savings Combo Promo of 12month 3.8% includes the Smartsaver Account. If the same t&c applies, then this combo can effectively gives 4.25%, and don't need to wait for 1st weekend of the month.

MGM
post Jul 3 2012, 05:28 PM

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QUOTE(Gen-X @ Jul 3 2012, 05:24 PM)
Bro, how you come out with 4.25%, it's more like (4.5%+3%)/2 = 3.75%

For my case, I think HLB 3.95% better where I get 1% on top of my HLB Junior Account Interest Rate too.
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Say FD rm10000 at 4.5% and SmartSaver rm2000(20% of FD) at 3%, average out
(10000*4.5%+2000*3%)/12000= 4.25%

Your calculation is based on equal amount on both FD and SmartSaver.

What is the HLB junior acc interest? What portion on FD and Savings? What is the effective rate, but I doubt it will be more than 4%?

Addition:

After checking the HLB website,
the effective rate from the promo is 3.9455%, based on FD rm10000 @ 3.95% and JuniorAccount rm1000 @ 3.9%.

This post has been edited by MGM: Jul 3 2012, 05:48 PM
MGM
post Jul 3 2012, 10:43 PM

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QUOTE(Gen-X @ Jul 3 2012, 10:28 PM)
I was really blur when I said 3.75%  doh.gif

Thanks for the workings above and you are right  notworthy.gif Must go to OCBC tomorrow to check if can sign up for Smart Saver for the Combo.
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According to OCBC CS for Smartsaver(SS) min initial deposit is now reduced to rm200 and SS is one of the allowable savings account.

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