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

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MilesAndMore
post Oct 25 2011, 01:01 AM

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QUOTE(Gen-X @ Oct 18 2011, 03:17 PM)
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  doh.gif
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.

MilesAndMore
post Oct 25 2011, 05:15 PM

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QUOTE(Gen-X @ Oct 25 2011, 08:33 AM)
what is the TD-i thingy? Savings or FD? How long?
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 smile.gif

MilesAndMore
post Oct 25 2011, 10:14 PM

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QUOTE(Gen-X @ Oct 25 2011, 09:16 PM)
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
MilesAndMore
post Oct 26 2011, 06:13 PM

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QUOTE(Gen-X @ Oct 26 2011, 09:56 AM)
Sir, I understand your example above and it is still the same as my example  tongue.gif 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.
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 biggrin.gif

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 laugh.gif

This post has been edited by MilesAndMore: Oct 26 2011, 06:14 PM
MilesAndMore
post Nov 18 2011, 03:51 PM

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QUOTE(pedestrian @ Nov 18 2011, 08:33 AM)
Fixed deposit by ATM machine, any bank?
Maybank, CIMB Bank, Public Bank, just to name a few.

By the way, thread is merged with the existing FD thread because it's FD related. And considering this is one of the most discussed topics here, i'll pin it smile.gif

MilesAndMore
post Nov 19 2011, 10:21 PM

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HSBC Amanah Cheras South branch is having a 3-month Time Deposit-i promotion now. 5% for 3-month TD-i standard scheme.
MilesAndMore
post Nov 20 2011, 07:25 PM

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QUOTE(Gen-X @ Nov 20 2011, 06:57 PM)
Is it the same as in the newspaper ad? Saw ad, need to have RM500K where only RM250K will get the 5%. IF open Premier Banking with RM200K, only get 4% for RM100K FD.
It's a different promotion and such rate is offered only through the new Cheras South branch.
MilesAndMore
post Nov 21 2011, 12:12 AM

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QUOTE(insaint708 @ Nov 20 2011, 11:12 PM)
Did anyone know about UOB offering FD @3.8% pa?
*
Yes. We do know about this. Please go back a few pages. The info is all there smile.gif

MilesAndMore
post Nov 21 2011, 02:22 AM

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QUOTE(spikeman @ Nov 21 2011, 12:33 AM)
get nothing for the other half?  hmm.gif
If the other half is put into FD too, the other half will follow the normal board rate instead of the promotional rate advertised.

This post has been edited by MilesAndMore: Nov 21 2011, 02:23 AM
MilesAndMore
post Nov 21 2011, 01:31 PM

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QUOTE(kiasi @ Nov 21 2011, 11:52 AM)
Why nobody mention Bank Rakyat? Not bankkah? Or the bank not covered by PIDM? For me the rate offered is the best among all the banks mentioned currently.


Profit Rate » Qiradh General Investment Account-i 
 
Qiradh Investment Account-i
Period of Investment (month) Rates (%)
Corporate Individual
1 2.90 3.26
3 3.05 3.65
6 3.10 3.75
9 3.20 3.85
12 3.25 4.01
15 3.25 4.05
18 3.30 4.10
24 3.45 4.20
36 3.50 4.25
48 3.60 4.30
60 3.70 4.50
> 60 3.70 4.60
I did check their FD rate last time (about a year ago) and the profit rate was never this high. It was higher than most other banks but by just 0.2%-0.3%.

Anyway, thanks a lot for the info. I might just consider this bank next time. There just opened a new branch near my house a year ago biggrin.gif

MilesAndMore
post Nov 21 2011, 11:30 PM

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QUOTE(kiasi @ Nov 21 2011, 10:00 PM)
Which bank allow you to have online FD without having an account before?
HSBC

MilesAndMore
post Nov 22 2011, 05:03 PM

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QUOTE(smsbusiness2u @ Nov 22 2011, 04:17 PM)
Is this same as Fixed Deposit?
Any risk?
Same as regular FD, just that this is Shariah compliant.

MilesAndMore
post Nov 23 2011, 03:49 PM

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QUOTE(insaint708 @ Nov 23 2011, 01:24 PM)
what's the different between regular FD and Qiradh General Investment Account-i?
regular FD > not shariah compliant
Qiradh GIA-i > shariah compliant

MilesAndMore
post Nov 25 2011, 01:36 AM

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QUOTE(insaint708 @ Nov 24 2011, 10:08 PM)
Is this an investment account? or just like regular FD? with no hidden charges.. ?
Well, FD is a kind of investment too but to make it simple, yes. It is just like regular FD with absolutely no hidden charges.

MilesAndMore
post Nov 25 2011, 06:30 PM

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QUOTE(insaint708 @ Nov 25 2011, 10:18 AM)
Thanks!.. is it open to all public (non-bumi + bumi)?
Yes. Any Malaysian citizen can open this account and is eligible for the published profit rate on the website.


QUOTE(lkcheng @ Nov 25 2011, 02:51 PM)
I visited the website of Bank Rakyat. It seems it wasn't opened to anyone. I only saw Qiradh General Investment Account-i offers, no other FD offer.
What are you talking about ? Qiradh GIA-i is the FD of Bank Rakyat.
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post Nov 26 2011, 12:00 AM

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QUOTE(lkcheng @ Nov 25 2011, 10:00 PM)
Is Qiradh GIA-i opened to non-bumi?
*
Of course it is.

MilesAndMore
post Nov 26 2011, 07:07 PM

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QUOTE(wu ming @ Nov 26 2011, 01:44 PM)
Any minimum deposit for this?
Minimum RM5,000 for 1-month and RM500 for 2-month and above.
MilesAndMore
post Nov 28 2011, 12:37 AM

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QUOTE(Lazygenes @ Nov 27 2011, 11:44 PM)
Anyone knows if the the QIA can be opened via their internet banking service or must go to their branch to open up a new QIA deposit?

Thanks
*
You must go to the branch.

MilesAndMore
post Dec 6 2011, 10:17 AM

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QUOTE(hackwire @ Dec 5 2011, 08:21 AM)
I don't quite trust bank rakyat or any local banks , afraid mismanagement like Greece , Ireland turmoil in mishandling of fund.
*
Citibank, a mega foreign bank and also one of the largest banks in the world nearly goes bankrupt. Just saying biggrin.gif

Seriously, if you are looking into depositing say RM1M or RM2M, then i guess even a super small bank like Bank Rakyat is fine actually.

MilesAndMore
post Dec 10 2011, 10:05 AM

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QUOTE(heavenly91 @ Dec 10 2011, 09:42 AM)
Who told you so?
It is based on monthly basis la
*
Gen-X is right. It's divided based on days. Open more FD accounts then you'll know. MYR FD is divided by 365 days regardless that year is a common year or leap year.

This post has been edited by MilesAndMore: Dec 10 2011, 10:10 AM

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