^What will happen after 6 months? What will the interest rate be at?
Fixed Deposit Rates in Malaysia V3, Read 1st post to find highest rate.
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 Jan 11 2013, 11:13 AM
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Senior Member
1,330 posts Joined: Apr 2008 
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Jan 11 2013, 11:41 AM
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Senior Member
2,617 posts Joined: Apr 2012
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QUOTE(HJebat @ Jan 11 2013, 10:22 AM) If I'm not mistaken, Hong Leong Bank is currently offering one of the lowest FD rate for 12 months tenure: 3.1%. Hong Leong Mach Branch only..When did you get 4% p.a.?  |
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Jan 11 2013, 11:59 AM
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Senior Member
2,617 posts Joined: Apr 2012
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QUOTE(LostAndFound @ Jan 11 2013, 10:50 AM) Am I calculate wrong then? At 12 months, you get 4.8% on 8k (minimum amount) will be RM390.4. For 10k deposit Ratio 8:2 effective rates 3.32%paSplit it out to the 10k amount (390.4/10000) won't it still be effective 3.904% interest rate? Not including the small interest you get on the savings account. EDIT: Sorry I'm noob, just read 4 pages back. For 100k deposit Ratio 8:2 effective rates 3.46%pa |
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Jan 11 2013, 10:13 PM
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Senior Member
1,624 posts Joined: Apr 2011
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QUOTE(Chigme @ Jan 10 2013, 02:41 PM) The FD promotion deal as in the link already expired in Dec 2012 . I just been shown the latest FD promotions by OCBC Tun Perak. Validity : Jan - March 2013. Fd to saving ratio not 1:1. It is 2:11. For Non Private Banking Clients - Can be existing Fund or Fresh Fund FD 1-3 months @ 3.80% and 4-6 momths @ 2.85% (FD board rate) Effectively you locked in 6 months FD at 3.325% p.a. 2. For Non Private Banking Clients -Fresh fund only, bring the cheque along, do not bank in the cheque in to your OCBC a/c. Min placment RM5k. 50% of your placement will be kept in FD for 3 months @4.5% p.a. The other 50% will be earmarked for 3 months in either Smart Savers (2.9% p.a) or Savings Account (0.25%). Effective you locked in 2.375%p.a (chose savings a/c) or 3.70% p.a (chose smart savers a/c) for 3 months. For Private Banking Clients, you can get much better deal, do read the ealier posts on this thread to find out. |
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Jan 11 2013, 10:18 PM
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Senior Member
1,624 posts Joined: Apr 2011
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QUOTE(ChipZ @ Jan 11 2013, 11:13 AM) ^What will happen after 6 months? What will the interest rate be at? On my way to buy a crystal ball.... |
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Jan 11 2013, 10:54 PM
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Senior Member
1,188 posts Joined: Sep 2008
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Finally try out Bank Rakyat after following this thread for over a year...
 Manage to negotiate for 4.11% for a 12-mth tenure FD.  And it will auto renew with 4.11% when matured next year.  No hassle for next musical chair...  Interest is crediting to saving acct every month. Can IBG (cost 50sen) via internet banking to other bank to gain higher interest.  Got 0.1% referral fee too by introducing my wife to place FD on the same visit. Received 5 free goodies: 2x umbrella, 2x calendar and an elegant leather organiser. Overall it offers a great banking experience.  This post has been edited by tbheng: Jan 11 2013, 10:57 PM |
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Jan 12 2013, 12:05 AM
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Junior Member
163 posts Joined: Apr 2010
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QUOTE(HJebat @ Jan 11 2013, 10:22 AM) If I'm not mistaken, Hong Leong Bank is currently offering one of the lowest FD rate for 12 months tenure: 3.1%. It is an online FD Promotion from now till 7 March 2013, if you are interested here is the site: https://www.machbyhongleongbank.com/promo/mach-fixed-depositWhen did you get 4% p.a.? |
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Jan 12 2013, 12:45 AM
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Senior Member
1,188 posts Joined: Sep 2008
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QUOTE(HJebat @ Jan 11 2013, 10:22 AM) If I'm not mistaken, Hong Leong Bank is currently offering one of the lowest FD rate for 12 months tenure: 3.1%. Yes, I opened the HL Mach FD on their first day launch last Monday. Min 1k.When did you get 4% p.a.? 4% should be the highest interest rate with PIDM protection at the moment.  It is an eFD, no physical certificate, but you can see it in the internet banking. It has one unique feature as indicated in the brochure "Make partial withdrawals without forfeiting your interest", but before you get excited, make sure you read the fine line at FAQ Page 3 But at least it is an advantage over conventional FD when unforeseen situation happen. The alternative is to keep all in 1k individually. This post has been edited by tbheng: Jan 12 2013, 12:56 AM Attached thumbnail(s) 
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Jan 12 2013, 02:04 AM
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Newbie
3 posts Joined: Sep 2012
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QUOTE(tbheng @ Jan 11 2013, 10:54 PM) Finally try out Bank Rakyat after following this thread for over a year... Can we have FD at bank rakyat if we dun hav a saving acc there? Manage to negotiate for 4.11% for a 12-mth tenure FD. And it will auto renew with 4.11% when matured next year. No hassle for next musical chair... Interest is crediting to saving acct every month. Can IBG (cost 50sen) via internet banking to other bank to gain higher interest. Got 0.1% referral fee too by introducing my wife to place FD on the same visit. Received 5 free goodies: 2x umbrella, 2x calendar and an elegant leather organiser. Overall it offers a great banking experience. |
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Jan 12 2013, 11:26 AM
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Senior Member
1,624 posts Joined: Apr 2011
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Sorry for intrusion.......for those above 55 and treating depositing money into EPF as alternative to FD.
Top 26 World’s Largest Sovereign Pension Funds, 2012 Rank Fund Country Total Assets ($mill) 1 Government Pension Investment Fund Japan 1,394,873 2 Government Pension Fund – Global Norway 575,527 3 National Pension Corporation Korea 313,981 4 Central Provident Fund Singapore 159,789 5 Canada Pension Plan Canada 158,669 6 Employees Provident Fund Malaysia 153,890 7 National Social Security Fund China 136,665 8 Government Employees (GEPF) South Africa 112,053 9 National Wealth Fund Russia 86,907 10 Fondo de Reserva de la Seguridad Social Spain 85,250 11 The Future Fund Australia 74,349 12 Employees’ Provident Fund India 57,957 13 Public Institute for Social Security Kuwait 53,867 14 Fonds de Réserve pour les retraites (FRR) France 45,455 15 Labor Pension Fund Taiwan 43,538 16 AP Fonden 3 Sweden 32,000 17 AP Fonden 2 Sweden 30,840 18 AP Fonden 1 Sweden 30,516 19 AP Fonden 4 Sweden 29,994 20 Zilverfond / Fonds de Vieillissement Belgium 23,812 21 National Pensions Reserve Fund Ireland 19,555 22 The State Pension Fund Finland 17,788 23 AP Fonden 7 Sweden 13,987 24 FEFSS Portugal 11,489 25 Fonds de Comp. de la Securite Sociale Luxembourg 11,785 26 The New Zealand Superannuation Fund New Zealand 12,426 |
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Jan 12 2013, 01:14 PM
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Senior Member
2,617 posts Joined: Apr 2012
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QUOTE(tbheng @ Jan 11 2013, 10:54 PM) Finally try out Bank Rakyat after following this thread for over a year... Not scared BR collapse meh ! Manage to negotiate for 4.11% for a 12-mth tenure FD. And it will auto renew with 4.11% when matured next year. No hassle for next musical chair... Interest is crediting to saving acct every month. Can IBG (cost 50sen) via internet banking to other bank to gain higher interest. Got 0.1% referral fee too by introducing my wife to place FD on the same visit. Received 5 free goodies: 2x umbrella, 2x calendar and an elegant leather organiser. Overall it offers a great banking experience. |
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Jan 12 2013, 01:49 PM
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Moderator
9,301 posts Joined: Mar 2008 
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QUOTE(magika @ Jan 12 2013, 01:14 PM) Not scared BR collapse meh ! It is highly unlikely for any banks in Malaysia to collapse though. If something goes wrong, most likely it will be taken over by another bank and the bank that took over the failed bank will assume all the liabilities. So basically your deposit is safe. |
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Jan 12 2013, 02:23 PM
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Senior Member
2,617 posts Joined: Apr 2012
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QUOTE(MilesAndMore @ Jan 12 2013, 01:49 PM) It is highly unlikely for any banks in Malaysia to collapse though. If something goes wrong, most likely it will be taken over by another bank and the bank that took over the failed bank will assume all the liabilities. So basically your deposit is safe. Oops, i m being sarcastic, nowadays posting on deposit will mention Pidm or non-Pidm really scary for me as i have almost50% of my funds are deposit there..  This post has been edited by magika: Jan 12 2013, 02:59 PM |
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Jan 12 2013, 03:40 PM
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Senior Member
1,188 posts Joined: Sep 2008
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QUOTE(xjs @ Jan 12 2013, 02:04 AM) Can we have FD at bank rakyat if we dun hav a saving acc there? Not sure. I open SA for interest crediting and internet banking purposes. |
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Jan 12 2013, 03:43 PM
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Senior Member
2,617 posts Joined: Apr 2012
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QUOTE(xjs @ Jan 12 2013, 02:04 AM) Can we have FD at bank rakyat if we dun hav a saving acc there? Can no problem |
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Jan 12 2013, 03:45 PM
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Senior Member
1,188 posts Joined: Sep 2008
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QUOTE(RO Player @ Jan 12 2013, 05:29 AM) how much u put in?? which branch? Not big sum lah... x0,000. In Petaling Jaya. But need to really nego lah. |
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Jan 12 2013, 03:50 PM
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Senior Member
1,188 posts Joined: Sep 2008
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QUOTE(magika @ Jan 12 2013, 01:14 PM) Not scared BR collapse meh ! Haha...I try with part of my saving lah... Some goes to HL Mach FD... Eh, I remember you are the regulars to BR. I got all the excitement from your posts previously. |
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Jan 12 2013, 03:59 PM
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Senior Member
2,617 posts Joined: Apr 2012
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QUOTE(tbheng @ Jan 12 2013, 03:50 PM) Haha...I try with part of my saving lah... Some goes to HL Mach FD... Ha..ha.. will be depositing there again next week if no other attractive promotion.. Eh, I remember you are the regulars to BR. I got all the excitement from your posts previously. |
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Jan 12 2013, 09:23 PM
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Senior Member
1,035 posts Joined: May 2010
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QUOTE(magika @ Jan 11 2013, 11:41 AM) Hong Leong Mach Branch only.. QUOTE(nomen @ Jan 12 2013, 12:05 AM) It is an online FD Promotion from now till 7 March 2013, if you are interested here is the site: https://www.machbyhongleongbank.com/promo/mach-fixed-deposit QUOTE(tbheng @ Jan 12 2013, 12:45 AM) Yes, I opened the HL Mach FD on their first day launch last Monday. Min 1k. Oh, I see. Thanks for the infos guys! 4% should be the highest interest rate with PIDM protection at the moment. It is an eFD, no physical certificate, but you can see it in the internet banking. It has one unique feature as indicated in the brochure "Make partial withdrawals without forfeiting your interest", but before you get excited, make sure you read the fine line at FAQ Page 3 But at least it is an advantage over conventional FD when unforeseen situation happen. The alternative is to keep all in 1k individually. Looks like I'm a katak under a coconut shell |
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Jan 13 2013, 12:38 AM
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Senior Member
560 posts Joined: Jul 2007 From: Pew Pew
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QUOTE(tbheng @ Jan 11 2013, 10:54 PM) Finally try out Bank Rakyat after following this thread for over a year... oh dear...think i lost out on the nego part and free gifts...because when i tried to nego with them for better rates for 12months 4.01%, the counter girl told me only sum more than 500k can nego...and the free gift were only a passport holder and a sling pouch... Manage to negotiate for 4.11% for a 12-mth tenure FD. And it will auto renew with 4.11% when matured next year. No hassle for next musical chair... Interest is crediting to saving acct every month. Can IBG (cost 50sen) via internet banking to other bank to gain higher interest. Got 0.1% referral fee too by introducing my wife to place FD on the same visit. Received 5 free goodies: 2x umbrella, 2x calendar and an elegant leather organiser. Overall it offers a great banking experience. 4.11% for ur part was really good. maybe i should go and premature after 1month and put as a new deposit again....arghhh |
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