If put in KFH (interest upfront), then can earn the 0.4% and more (if have a good investment plan on the interest earned) ...      But don't think it is that easy, BANKs would have calculated every loose ends ....

Why made the calculation so complex?

The bank charges the interest upfront. And then the principal, you have to pay back equally.

Then you put the money into FD. At the end of 12 months, you get back the principal + interest earned. Overall, still earn RM40.00

Of course you need to have ability to pay the monthly instalment la.

Mind to illustrate it using excel?

See the "Flat" word behind 3.60% already good enough, don't even need to think and you know is sure rugi business.

If the profit rate is 4%, then yes. You'll get 4%, full. Still in doubt ? Go open one yourself.
Once again, the OCBC Al-Amin GIA is exactly the same as HSBC Amanah AGIA-I, AmIslamic Bank GIA (just to name a few) and the profit rate shown to you is fixed!

Do not simply challenge people.
refer to url below it is no fixed.

he is the 1 rude..asking me to open account to test...why cannot advise me to check with bacnk instead asking me to open bank acc to test?

Guess I will go for OCBC then. No special promo from HSBC now I presumed.

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

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..

usually how soon do we know the result after this BNM meeting?

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

Add 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...

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

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

Yes. Can be considered as a good news. It's been widely reported since last week that economists around the world expect Reserve Bank of Australia to cut their key interest rate. They already cut their key interest rate once last year and should this trend continues, central banks around Asia may follow suit too.

From what I gather in page1 of this thread and also Genx's blog, for a sum of Rm200K, HSBC would give the best returns for 3-month period.
ie. 100k at @4.88% and 100k@3%. (effectively 200k@3.94%.).
Just want to reconfirm.

thanks for enlightenment, now i clear my doubt

CIMB Gold Account + FD Promo


T&C : http://www.cimbbank.com.my/promo/gda12q1/p...-Bundle-Eng.pdf

The other day I opened the OCBC GIA 4% FD on a Saturday.
The cheque cleared 2 days after the start date.
Would it still use the original start date on the certificate ?

that will be good. Can transfer those 3 mth FD when mature to this ..

No, I didn't get any statement from OCBC.  Found out consolidated statement sent only to customers who have current accounts.  So, will wait till maturity to find out if full interest is paid on all the FD slips showing the 5% rate.

On Wednesday, 8th Feb, I uplifted my one-month Islamic GIA deposit which matured on 4th Feb and was surprised to learn that OCBC does not give back-interest for the 4 days public holiday.  They said back-interest is only given for conventional FD but not Islamic GIA deposit.  

Also found out that Mighty Savers weekend promo rate of 4% (3 mths-conventional FD) is not restricted only to children below 18 yrs old.  Adults also can enjoy the promo rate provided they open a savings account as well.  Min placement is 10K and max is 50K.  The FD will start on the next working day, meaning if you issued a cheque for 50K to open FD on Saturday, 4th Feb 2012, the term will only start on Wednesday, 8th Feb 2012 (minus the long weekend holidays).  It does not matter when your cheque is cleared. 

A strange thing about OCBC is that kids above 12 yrs old can open savings account in their own name if they have an IC.  But, if you are to open a Trust Savings Account, meaning parent/legal guardian in joint names with the kid, OCBC need the child's original birth cert even if he/she has an IC.  The parent/guardian can enjoy the promo 4% FD only if they open the Mighty Savers Account which is a Trust Savings Account. Unless you are really intent on opening a Trust Savings Account for your children, I think it is much more straight forward to just go with the adult version of the Mighty Savers Weekend promo which is on every first Saturday of the month.

Talking about ICs, please note that HSBC requires passports to open accounts with them even if you have a red PR IC.  Also, their GIA deposit cannot be uplifted on the same day it matures.  You will have to wait for the next working day.  Thus, if your GIA deposit matured on Friday, 3rd Feb, you cannot touch your money until Wednesday, 8th Feb.  That's about 5 days of 'lost' interest! I am sure they, like OCBC, do not give back-interest for GIA deposits as I have to 'lose' one day's interest when my RM made a mistake on my GIA deposit with them. After rectifying the mistake, she could not back-date the GIA deposit slips - the term starts on the next working day.  She said she could have back-dated the placement if it had been a conventional FD.  So, beware if you want to open GIA deposits.

In this case, the champaign rate of 3.75% got to be prorated to 3.0% effectively.