Click here to Original FD Rate Thread.

Click here to Fixed Deposit Rates in Malaysia V3

Malaysia Major Commercial Banks and Foreign Banks Fixed Deposit / Time Deposit Rates as of 1st July 2012.
Bank - FD rates for 1 month, 3 months, 6 months and 12 months.

Affin Bank - 3.05%, 3.1%, 3.25% and 3.6%
Alliance Bank - 3%, 3%, 3.1% and 3.25%. FD Gold 12 months 3.3% (Interest paid monthly).
AmBank - 3%, 3%, 3.15% and 3.2%. Am50Plus 12 mths 3.25% (Interest paid monthly, FREE PA).
Citibank - 2.9%, 3.00%, 3.0% and 3.10%
CIMB Bank - 3%, 3.05%, 3.1% and 3.15%
Hong Leong Bank - 2.9%, 2.95%, 2.95% and 3.1%
HSBC Bank - 2.75%, 3%, 3% and 3.15%
Maybank - 3%, 3.05%, 3.1% and 3.15%
OCBC Bank - 2.85%, 2.95%, 3% and 3.10%
RHB Bank - 3%, 3.05%, 3.2% and 3.2%.
Public Bank - 3%, 3.05%, 3.1% and 3.15%. PB Golden 50 Plus 12 months 3.25%.
Standard Chartered Bank - 2.90%, 2.95%, 2.95% and 3.10%
UOB Bank - 2.9%, 2.95%, 2.95% and 3.10%


Fixed / Time Deposit and Savings Account Promotions July 2012.
Please call the nearest bank to reconfirm the rates (go to the bank website for bank contact number where you can also get the contact number of the branch nearest to you) before going to the bank to check if promotions are still valid.


UOB Bank Latest Fixed Deposit Promotion Rates - Minimum RM10K. Effective 23 July 2012 till end of August 2012

1 mth 3.25%
3 mth 3.55%
12 mth 3.65 %

For PB customers add 0.05% to above rates.

OCBC Bank Malaysia Promotion until end September 2012. Minimum Fresh Fund RM10K
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 maintain for 90 days.

Click here to OCBC Promos and T&C

Want to earn up to 4.25% for 3 months, thanks to MGM go with the OCBC Combo Plan and OCBC Smart Savers Savings Account:
.

Maybank FD Promo Until 24 August 2012


1st 6 Months 3.35% and roll over (allowed 1 time only) for 6 months 4.05% and applicable for over the counter placement only.

Minimum Fresh Fund Individual RM20K
Minimum Fresh Fund Company RM50K

Based on above, average 3.7%


CIMB Bank Step Up 6 Months FD Promo Until 31 December 2012



For Non Preferred members, the CIMB Step Up FD Promo until end of the year is as follows:

1-5 Months 3.1%
6th Month 4.88% (slightly lower than Preferred)
Minimum RM5K and in multiples of RM5K

Click here to CIMB webpage on Step Up FD PRomo.


Hong Leong Bank 3 Months 3.95% till end of October 2012



(Note: I got no control on the image size here - previously when we click on image here can see actual size, so if you want to see actual size go to my Fixed Deposit Page at my blog and click on it).

HLB is offering extra 1% interest for 3 months FD on the following conditions:

Non Priority Banking Customers - Must deposit RM10K to with FD and RM1K into Savings Account.

Priority Banking Customers - Must deposit RM50K into FD and RM5K into Savings Account.

Click here to HLB website to see T&C

And for Seniors, HLB offering 3.6% for 12 months FD Click here for T&C. Minimum Fresh Fund RM10K
And for kids, they get 3.65% for 12 Months Junior FD click here for T&C


Kuwait Finance House Deposit Promo until end of August 2012

Those of you who are near to a KFH branch, go check out Kuwait Finance House International Commodity Murabahah Deposit i Promo until end of August 2012. 3.85% for 6, 12 and 24 months tenure.


Check this out - contributed by tbheng If you are nearby to a new HSBC Branch, you may get 5% FD Promo for 3 months.


According to HSBC website, the New Branch Promo offer ends 30 September 2012 for above mentioned 3 branches.



Other Promotions
Some banks are also offering step up interest rates (with or without condition, e.g. some banks require that you deposit x amount in savings or current account), so you better average them out and I would think they still won't be able to beat Affin 12 months Fixed Deposit rate of 3.6%.

To read my comments on FD promos click >>> Malaysia Latest Fixed Deposit Board and Promotion Interest Rates by Major Commercial and Foreign Banks. New - with comments on Bank Rakyat Qiradh Investment Accounts

Click here to read my article titled Australia Education, Term Deposit, Savings Account and Credit Card Interest Rates In this article I have tables of interest rates from several banks in Australia and also a Table for UOB, OCBC and RHB Foreign Currecny Time Deposit Interest Rates.


Banker's Cheque Fee purely for FD Upliftment/Withdrawal
Affin - ?
Alliance - FREE
AmBank - RM2.15
CIMB - FREE
Citibank - RM0.15
HLB - RM5.15 (PB Customers RM0.15)
HSBC - RM5 same day or RM2 next day (no RM0.15 Stamp Duty??)
Maybank - RM5 or RM5.15?
OCBC - FREE or RM2.15 Conflicting reports.
PBB - RM2.15
RHB - RM5.15
SCB - RM2.15
UOB - RM0.15 or RM2.15 Conflicting reports.
Others - please state bank and amount.

This post has been edited by Gen-X: Aug 1 2012, 02:28 PM

Promos ended in July 2012


Promos ended in June 2012


Promos ended in May 2012


Promos ended in April 2012




Promos ended in March 2012





Promos ended in February 2012



Promos ended in January 2012



Promos ended in December 2011



Promos ended in November 2011


Promos in October 2011


This post has been edited by Gen-X: Jul 19 2012, 04:08 PM

Highest is still HLB at 4.3% for 24 months.
12 months is 3.7%

This post has been edited by aeiou228: Oct 14 2011, 05:53 PM

Bro, currently

highest SCB 5% for Savings Account until end of the year BUT must open account in October 2011 only.
For 12 months, UOB at 3.8%, minimum RM10K deposit.
For 24 months, yes, HLB Junior FD.

This post has been edited by Gen-X: Oct 14 2011, 06:07 PM

ops ! forgot about SCB 5%.

For 12 month FD, between UOB 3.8% and HLB 3.70%, I think is worth considering HLB flexi early partial withdrawal feature though at 0.1% discount.

Thanks Gen-X for compiling all the rates for different banks here. Makes things easier for all of us.

Just opened and dumped in some cash in SCB SuperSalary account yesterday. The 5% is still available as of yesterday but I am not sure if it would last till the 31st of Oct or not.

Once my FD with CIMB bank ends next month, I will withdraw and dump into SCB.

The offer is valid till end of this month only and first come first serve basis (according to the bank). I advise you to open a SuperSalary account with them first and if possible dump in 3K if you have and when your FD at CIMB mature next month, move the money over there.

Btw, I like the service at SCB (DU branch). Beat the hell out of alot of banks.

Thanks. Actually already opened the account recently. New company I am working with requires an account with SCB for salary purpose.
Opened the account with RM3,000 deposit but is Super$avers account.

SCB very few branches... DU branch difficult to find parking

Received a call this morning from HSBC.
Offering 3+1=4% for 3 mths FD with quite a rigid T&C.
http://www.hsbc.com.my/1/PA_1_1_S5/content...ing_1pc_tnc.pdf

I would admit SCB DU branch is good too, only issue is the parking. But if you are able to park at the houses behind SCB is ok.

Did a pretty girl service you while you were there? She was very helpful, deposited my cheque into the machine & created the online account on the spot.

And many thanks to all for updating the latest rates here so I can post.

My contribution for the day. Alliance Bank - Need to deposit equal amount into 3 months FD @ 3.5% and 6 months FD 3.2% Wasting time, just go OCBC and deposit 100% of the funds for 3 months and get 3.5%.

And last week, Alliance Bank revised their 12 months Gold FD rate lower from 3.35% to now 3.3%.

Updated aeiou228 sharing on HSBC too.


So happy she deposit cheque for you....you are one easy guy to please

Talking about SCB, my RM open a Saadiq account for my wife, later wanted to get the SCB Platinum Debit Card for my wife cannot because the Saadiq only comes with cheque book

This post has been edited by Gen-X: Oct 18 2011, 03:26 PM

open an account at scb kepong , nice and fast =D waiting interest to come now !

For 12 months, UOB at 3.8%, minimum RM10K deposit.》》 really 3.8% ah？

---

Added on October 25, 2011, 12:22 amStandard Chartered Saadiq$aver-i account can be opened through online using SBC online banking?

This post has been edited by jack2: Oct 25 2011, 12:22 AM

Man... close it after 3 months then.

By the way, HSBC Amanah is offering 3.30% for TD-i Standard Scheme. This is not a limited time promotion product/rate.

Of course it's true, Min RM10K for 3.8% 12 months. But I can understand why you have doubts because previous offers by UOB need to deposit RM20K.

For shorter tenure promo, Min RM25K as Boom Cha Cha reported which I also reported earlier in V1.


ya, closing it after 3 months 1 day

what is the TD-i thingy? Savings or FD? How long?

Thanks for info.
Greatly appreciated.

My suggestion to TS,

For older months FD rate, perhaps can put in spoiler and the month/year for it. So that anyone can reference if they want, i.e. don't overwrite it with latest.

Later we can do a monthly time-series graph for FD

Guys, I'm confused, what is the minimum amount to deposit to scb supersalary/e$aver account to be eligible for special 5% interest? Is it 3k?

Yes, monthly average balance of 3K.

Thanks tifosi, I was confused by my friend and SCB T&C in calculating ADB.

If I am not mistaken, if open your account on 24oct2011 and you bank in rm3000 on 25oct2011 and keep that amount until 31oct.
Days your account is opened in oct=8 days
Your total DB= rm3000*7 = rm21000
Your ADB = 3000 * 7/8= rm2625, so u don't qualify for the 5%.

Thanks for the explaination, I've deposit more than 3k.

how is this fd?..is it paid monthly or annually..

rm 1000 > tenure for 1 month>3% interest=after 1 month i got rm rm30..?

is it works like that?

This post has been edited by ojay: Oct 25 2011, 01:12 PM

After Dec 2011, SCB's 5% back to what %?

Back to the respectively savings rate of btw .5 to 1.5% , i THINK.

---

Added on October 25, 2011, 1:19 pmBetter calculate the ADB if the amt is closed to rm3000, just to make sure.

OCBC has taken down the promo from their website.

This post has been edited by MGM: Oct 25 2011, 01:19 PM

1 month 3% RM2.50
1 year 3% RM30.00

what does AB stand for ?

ADB = Average Daily Balance.

It's a Fixed Deposit actually and works exactly like regular FD, just that it is a Shariah compliant product. There are standard scheme and upfront payment scheme for this TD-i. For standard scheme TD-i, the interest (or profit as they like to refer it for all Islamic savings products) will only be paid out at the end of the tenure of your deposit while for upfront payment scheme TD-i, you will get all your interest first, just like CIMB Islamic "Why Wait FD"/Maybank Profit Now! Account-i. I've changed all my FD at HSBC to this Islamic FD

Noted on your suggestion and you better do the graph bro

After 31st December withdraw all you money in the account and go find best FD rates in town. But remember to maintain RM1 for at least 3 months before you close the account.

By the way bro, where is the comparison which you are suppose to post here i.e. FD vs Insurance scheme.

Noted. But to me this up front FD doesn't really make any difference. Say for 3.3% 12 months. I deposit RM100, bank give me RM3.30, so actual fact I depositing RM96.70 and end of 12 months I get back RM100.

No. It doesn't work like that actually. I'll use a bigger amount as example > RM100,000.

I deposit RM100,000 with HSBC Amanah under their upfront payment scheme TD-i for 12-month. The 12-month profit for upfront payment TD-i is just 3.20% versus 3.30% for the standard scheme TD-i. So, the profit for my deposit is 3.20%. Let say i open the account now under this upfront payment TD-i with RM100,000, they will pay me RM3,200 right away and the TD-i deposit slip will still be written as RM100,000. Yes, you can use the RM3,200 right away and you will get all your RM100,000 back by the end of the 12th month. Just that unlike conventional FD product where at the end of the month, i will get my principal back + the interest earned during the last 12-month. For this HSBC Amanah upfront payment TD-i, i will only get my whole principal amount back (which in my case is RM100,000) at the end of the 12th month. There is no more interest for me because HSBC Amanah already paid me the interest (RM3,200) 12-month ago when i opened this upfront payment TD-i.

This post has been edited by MilesAndMore: Oct 25 2011, 10:19 PM

Sir, I understand your example above and it is still the same as my example The slip may state RM100K, but if you withdraw the amount the next day after you deposit, you ain't getting RM100K. Most probably you will only get RM100K- RM3.2K, so actual fact you only deposited RM96.8K.

Everything is the same actually. It is just that you will the interest upfront in cold hard cash and you can do more with RM 3200 on hand now rather than the full amount of RM 3200 in 12 months time like the conventional FD.

Wow, bro is still remember me that I wrote to give the comparison but yet to provide here.

Previously there was a thread by someone about ING savings and it was deleted. I did post up some info about IRR.

Soon i will calculate my CIMB MAX-Invest and to see if I should continue for the remaining tenure or withdraw now to minimise the loss.

use the rm3200 to deposit into more FDs and let it mature for another 12 months
how can it be the same?
definitely can make more $$$ la
no meh?
getting the interest 12 months later = lost 12 months of time to work with this 3200

Maybe I did not elaborate it correctly.

By the same I meant, at the end of the day, you will get the same amount from the bank. It is either at the beginning or at the end of the tenure. RM 100000 + RM 3200

I was just trying to say in my last post that one could do more with cash in hand rather than cash so it is more beneficial.

Ah... re-read your post. Got it now. Thought you were saying you'll get a few Ringgit less when the TD-i matures because i did not read your reply properly

Anyway, i think this upfront payment TD-i is good for those who do not want to use the money they already have on hands. It's pretty generous of the bank to pay the "profit" on the first day we opened the account. Besides, the "profit rate" is just 0.1% lower compared to standard TD-i. Despite the 0.1% difference, mine's all on the standard TD-i

This post has been edited by MilesAndMore: Oct 26 2011, 06:14 PM

If you calculate the effective interest rate,
3.20% 12 mths FD interest paid upfront is 3.3056%, about the same as 3.30% 12 mths FD interest paid on maturity. So, not much different if the deposit amount is not significant.

True. But Bro, say we actually deposited RM100,000 deposit, use the RM3200 and deposit back into say normal 12 months at 3.3% then can earn another 0.1% (based on RM100,000), so effective interest may be 3.4112% but still cannot beat Promos or Affin 3.6%

This post has been edited by Gen-X: Oct 26 2011, 07:06 PM

For 3.2% 12 mths FD with upfront interest re-deposit back @ 3.3% 12 mths FD with interest paid on maturity, the effective interest rate I calculated was 3.3056%. I can't get 3.4112%. Mind telling how you get 3.4112% ?
Yes, Affin 3.6% or HLB 3.7% any time better.

This post has been edited by aeiou228: Oct 26 2011, 11:41 PM

Bro, the way I calculated

A) RM100K - RM96.8K = RM3200

RM3200/RM96.80K = 3.30575% (close to what you mentioned)

b) RM3200 x 3.3% (say deposit in conventional FD for a year) = RM105.60 interest paid

c) RM105.60/RM100K = 0.1056%

d) A + C = 3.41135%

But you know what, above WRONG way to calculate effective interest, hahaha because end of the day only get RM103,305.60 or effective interest like you said 3.3056%. Sorry to have mislead you

what is the catch for this upfront payment scheme..?

No catch whatsoever. One is interest paid upfront and the other is interest paid on maturity. Both effective return are the same at 3.30%

This post has been edited by aeiou228: Oct 27 2011, 03:17 PM

thanks mate

Can someone explain here about overdraft..since overdraft is related to FD right?

1. How to take overdraft?
2. Normally, what is the cause of people take overdraft?
3. How to pay back? Monthly with interest?

Thanks in advance!

This post has been edited by potenza10: Oct 27 2011, 09:34 PM

Well, there is another thread on OD if not mistaken, do a search. Homework question ar?

1. Say you pledge RM10K FD, you will get RM10K overdraft to utilize.
2. Short term loan.
3. Pay back as soon as you got the funds, can be next day.

if want to keep money for 10 years , putting in FD is better or buy insurance saving plan minus the investment one. i mean the endowment plan .

Endownment plan better

This FD 3.x% really no mood. When will the % increase again?

did mine at UOB recently. 3.8% for 1 year. min 10k per slip, and have to be fresh funds.

Starting 1 Nov 2011, those with SCB Online Banking should keep an eye open for the first payout of the 5% interest promotional rate.

Do report in....

According to the T&C interest payments will be calculated at the end of each calendar month and credited into the Promotion Account on the third working day of the next calendar month.

do you mean to verify the interest payments?

For the benefit of those without SCB e-Banking logon

CREDIT INTEREST / HIBA CR MYR2.22 for my SCB MYR4,500.00 deposit.
Is it already kena tipu?

This is only the normal eSaver month-end interest... wait a few more days for the 4.4% portion

Standard chartered e-saver account:

What is the formula for calculating interest ?


ADB= Total day end balance / Days account opened in that month

Interest for the month = ADB*5%*(Days account opened in that month)/365

DAys account opened in that month = 8

I received an interest today Nov 1 of RM 53.47, appreciate if any insider could tell me if my formula is correct?

I can't seem to get what they are getting.

The interest of RM53.47 is part of the normal eSaver interest. Refer to table above.
The 5% portion is NOT IN YET

Thanks Ronnie! : )

Thanks for the explanation. I though I kena tipu already also.

Made a top up on 31 Oct, let see if I got the interest for the top up amount as well.

Some countries are easing monetary policies... do you think BNM will decrease FD rates again?

I think I better lock in for 6 months or 1 year...

Answer is either YES or NO, because BNM is really unpredictable.

maybank has some promotion.

Minimum is 20K .. 4 months deposit 3.3325% pa effective rate. Check the local maybank branch to confirm.

1st and 2nd month - 3.1%
3rd month - 3.25%
4th month - 3.88%

Effective rate is 3.3325%

Please walk into your nearest Maybank branch to ask for more details.

This post has been edited by soul2soul: Nov 3 2011, 09:56 AM

3rd working day already. Nothing happens.

Can't find any indication on when it will come in exactly though.

SCB is a reputed bank. I'm sure they will give the interest soon. Anyway, they have a new promotion for online bill payment. 20% cash back cap at RM100. Nice way to earn extra.

Official T&C states 3rd working day.
I will call SCB if my promo interest doesn't appear on 4th Nov ;-)

Limited to first 20,000 customer only wor.

SCB 5% FD rate is not limited to 20000 Customers lah... don't confuse

Go read the T&C : http://www.standardchartered.com.my/person...rpromo/tnc.html

Hi Ronnie. I was talking about the promotion for SCB online bill payment.
Anyways, let's wait for tomorrow 5%.

Aren't you abit OFF-topic !!! We are in Fixed Deposit thread lah

Hahaha. Sorry Ronnie. I was replying to a poster message here.
By the way, the 4.4% portion is in.

SCB 5% bonus interest for esaver/supersalary has already been credited. Seems like they did a wrong calculation (more interest than i expected). standard supersalary interest=1.5% plus bonus 3.5%.

This post has been edited by ascend: Nov 4 2011, 10:15 AM

I have the SCB Supersalary 1.5% credited to my acc earlier. But now i only get around 1.29% bonus interest instead of the remaining 3.5%. Anyone here experiencing the same thing?

Checked my eSaver account and got full interest credited.

My eSaver account shows the "Bonus Interest - October".
Correct calculation of 0.6% + 4.4% to yield 5%

Those with SuperSalary may need to call SCB CS to clarify the discrepancy. Possibly is the calculation of ADB

Not me, I am using supersalary but got the remaining 3.5% in yesterday.
Based on my own calculation also, seems like is more than 5%.

Mine also does not tally up. It is slightly more than 5% I think. For example if my interest for the 1.5% is RM 30, theoretically the remaining 3.5% should be RM 70. But it is not.

Maybe my calculation is slightly out because I deposited a few times into it during the month of Oct but I am sure is not flat rate 5%. Might be compounded 5%. Someone ought to calculate that. I am not very good at it.

Opened 2 acc for this promo, SuperSalary and Saadiq$aver-I.
Got the interest at 5% exactly.
Interest calculated from the date of the transaction, NOT the date the cheque is cleared.

ok, i think i got my own calculation wrong.

let's say I deposited the cheque on 10 October, I am supposed to calculate as follows:

5% X amount deposited & 22 days
----------
365 days in a year

Initially i thought to get the number of days for the interest is:
31 days in October - 10 October = 21 days

your flat interest calculation should be quite close to daily compound interest calculation (which i believe SCB is applying)
Using 22 days is correct if you deposited on 10th, assuming calculations starts on deposit day, which is normally the case.

very informative thread!

Using the flat interest calculation method, my balances are correct right to the sen. So I dont think SCB is using daily compound interest calculation.

Confirm information from SCB 5% Promo Rate
1. The 5% is calculated : start from the transaction date of the cheque deposit (not cheque clearance)
2. The Bonus Interest would be addition to normal E$aver month-end interest.
3. Interest credited on 3rd working day, posted on the 4th working day.

This post has been edited by ronnie: Nov 5 2011, 12:00 PM