Fixed Deposit Rates in Malaysia V2, Read 1st post to find highest rate.
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 Mar 14 2012, 09:38 PM
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#1
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Junior Member
5 posts Joined: Sep 2011 
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hi all, just want to open a discussion... i suppose there is 5% interest tax for deposit amt of above 100k.
assume for FD RM1m deposit, and a bank is able to offer 5% interest... but 50k * 0.95 = 47.5k, which makes the interest become 4.75% right? for large amount of deposit, is there any other this kind of "hidden" charges? |
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Mar 25 2012, 08:15 PM
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#2
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Junior Member
5 posts Joined: Sep 2011
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Hi All, banks usually can offer a better rate for a big amount of FD...
any bros here have any idea of the min amount to request for a better rate? like 1M, 500K or 750K? say i wan to put in for 1-year FD, assume the normal rate is 3.6%, what is the usual better rate the bank can offer with the large amount of FD? 3.7 to 3.8%? Thx in advance~ |
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Apr 16 2012, 11:02 AM
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#3
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Junior Member
5 posts Joined: Sep 2011
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Hi all, usually if we deposit a large amount (fresh fund) to FD, we can nego for a better rate.
just roughly how much is the minimum amount? (e.g 1M, 500K or 200K... etc) and what is the better rate can nego? 0.05%, 0.1% above the normal ones? understand that different banks may have different bench marks... but any of the sifu here came across this with the RMs ? |
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Apr 16 2012, 11:29 AM
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#4
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Junior Member
5 posts Joined: Sep 2011
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QUOTE(cherroy @ Apr 16 2012, 11:10 AM) You are better off with those FD promotion 3.3, 3.5, 3.6% etc kind of, or like new PB customer special offer etc, which much higher than board rate +0.1%. Hi cherroy, thx for the explanation. am i right to say that, The myth of large amount can get higher rate is not necessary must be true, it can be inverse (lower rate), instead higher, depended from time to time, financial market condition, aka liquidity tight or not. Nowadays, too large sum >Rm1 mil, bank may/can classify customer into Tier 1 which rate may lower than board rate one.  banks define customers into Tiers wrt their FD amount, and offer different rate for the diff Tiers. Large amount might not get a better rate, instead, a lower rate can be the result. if that is the case, an example... say i have RM200k wan to put in FD, it is best for me go around the banks and ask for the best rate? as i am also not sure which Tier / Band the banks will classify me as (with the 200k). thx again for the help. |
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Apr 16 2012, 09:33 PM
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#5
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Junior Member
5 posts Joined: Sep 2011
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QUOTE(Gen-X @ Apr 16 2012, 01:26 PM) fdsiao, for less than RM500K, don't waste time nego, go play FD musical chair like some of us (me included). Hi cherroy and Gen-X, thank u very much for the info.Having said the above, if you have few million with the bank (not necessary per deposit), it depends on you relationship with the Bank Manager/RM (treat them good like take them out for lunch), they can always email/call HQ and request for higher rate (for existing funds) that can at least match Affin's rate. This is true for HLB, OCBC and UOB but it is on a case to case basis. Even Affin Bank Manager can request from HQ higher than their 3.6% 12 months if you depositing 1 million and above. I have mentioned before for companies, check with OCBC and UOB Commercial Dept and you'll be surprised that they can beat Affin's board rate. i shall try out HLB, OCBC and UOB for 200k. |
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