OCBC foreign currency FD is having promotion on additional 5% on existing rate.

Eg Aus dollor normally is 3.8 for 1 month, with 5% added on means 8.8%, minus possible exchange loss of 3.5% (my estimate on high side), you will still get 5% for one month

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Added on January 28, 2012, 6:08 pmshe is right, if you look at B Rakyat website 60 mths interest rate is 4.6%.


This post has been edited by gsc: Jan 28 2012, 06:08 PM

I think is time to lock in longer tenure now. Regional central banks are cutting interest rates.

I have the same opinion as you. I went for OCBC GIA-i again this week.

BNM meeting this coming Tuesday.

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?

Personal Loan.

I just called Am Bank at 1 300 80 8888, according to them, there was no
FD promotion for 4.45% at this moment..

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Added on January 29, 2012, 5:30 pmCaptain, usually how soon do we know the result after this BNM meeting?



This post has been edited by BoomChaCha: Jan 29 2012, 05:30 PM

The result is on the day itself by major news coverage.

If the central rates retain unchanged, no change from the bank.

If there's change in the rate, the bank will take time to implement the rate. Maybe 1 to 2 weeks my guess.

Hi guys, do u understand how this rate works?

http://www.pbebank.com/en/en_content/perso...prosperity.html

CIMB got 4.5 right?

Wondering why the banks like to make such complicated FD products!

Thank you.

Hopefully we can get a instant news here right after the BNM meeting..

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Added on January 29, 2012, 8:45 pmAdd all the FD rates, and divide the total rates by 12 months = average is 3.49% for 1 year tenure.

This 3.49% for 1 year tenure is not competitive at all...



This post has been edited by BoomChaCha: Jan 29 2012, 08:45 PM

Thanks ..

Thanks Bro.

Wah, really appreciate your initiative to go find out

by evening time, all the news portals will have a statement issued by BNM.

To attract customers and trap those who don't read the fine prints or don't understand.

Bro, I think you miscalculated, should be 3.505% ?

This post has been edited by Gen-X: Jan 29 2012, 08:55 PM

You must be talking about this FD promo from CIMB:

http://www.cimbbank.com.my/promo/stepupfd/...p-Up_FD_Eng.pdf

The average FD rate for 8 months tenure is only 3.275%...

This CIMB FD promo is not attractive at all....

Thank you for your update market info anyway..






This post has been edited by BoomChaCha: Jan 29 2012, 08:58 PM

so which is the most attractive?

No problem..

Thanks Captain


To make it simple, they try to mislead depositors who do not make a careful calculation..


Captain, I am afraid Public Bank made a mistake for their first 6 month
FD rates calculation:

Refer to this:
http://www.pbebank.com/en/en_content/perso...prosperity.html

Month #1: 3.18
Month #2: 3.28
Month #3: 3.38
Month #4: 3.38
Month #5: 3.38
Month #6: 3.68

The total is 20.28 / 6 months = average 3.38%
The average FD rate for the first 6 months is supposed to be 3.38%,
but why Public Bank put 3.28% instead of 3.38% for Month 1-6?

Yes, you are right. Based on the PBB data from the last row (3.28% + 3.68% + 3.98%) / 12 months,
the average FD rate is 3.505%. Sorry, I calculated wrong....

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Added on January 29, 2012, 10:25 pmPlease always check out the main page for FD promo update:

http://forum.lowyat.net/topic/2070535

For 6 months to 24 months tenure, I would say the beat deal is Kuwait Finance House, 4% rate,
they will pay you full interest in around one week after you make the FD placement with them.

Or you can consider OCBC, 4% rate for 1 year term, or 3.8% for 9 months term

If you have 1 million, you can go for HSBC Amanah (for new Premier account), the average FD rate
is *4.965% for 3 months term. This HSBC FD promo will end on 29 Feb 2012.

*(6.88% + 3.05% Islamic) = 9.93% / 2 = 4.965%



This post has been edited by BoomChaCha: Jan 29 2012, 10:45 PM

I was in Ambank last week and was told that one is loan, meant for government servant only

Thanks. That is interesting that AMBank is targeting specifically government servants and it's kind of competing with RCE Capital BHD which is also controlled by the same person. Or is it a "RCE product" being offered thru AMBank.

This post has been edited by Gen-X: Jan 30 2012, 07:21 AM

The 4% p.a. 12-month FD OCBC GIA-i account can be opened at any OCBC Bank (non Al-Amin), right ?

Yes, with RM10K Fresh Fund

best junior fd rate?

HLB 3.5% only, lower than ocbc promo rate.