3 month is still acceptable.

OCBC

split your fund to 2:1, 2 goes to FD and 1 goes to Saving Account

FD - 4.5%
SA - 2.9% (with minimum Rm1k top up every month)

Tenure 3 months. Minimum fund 7.5k - http://savemoney.my/best-fd-rates-in-malay...-year/#3monthfd

UOB: 3.5% for 3 months

Bank Rakyat: 3.65% for 3 months (Without PIDM)

Hi. I would like to move 5k out of my CIMB saving account to test water with new things. It there now earning 2.4%p.a interest. My first thought was to move it to CIMB eFD 1 month tenure for 3%p.a.

Wan to see what u guys think. Should i commit this to FD or something else. I know from 2.4 to 3 is not much diff. I believe FD has promo from time to time. Anyone I should look out for?

Thx

if u r cimb preferred, there is currently 1 month 3.5% p.a.
just to share, for me, with pidm, convenient branches...

1 month - cimb 3.5% p.a.
9 months - uob 3.65%
12 months - hlb 3.95%

keep yr blood sweat and tears money safe!!

OCBC

split your fund to 2:1, 2 goes to FD and 1 goes to Saving Account

FD - 4.5%
SA - 2.9% (with minimum Rm1k top up every month)

Tenure 3 months. Minimum fund 7.5k - http://savemoney.my/best-fd-rates-in-malay...-year/#3monthfd

UOB: 3.5% for 3 months

Bank Rakyat: 3.65% for 3 months (Without PIDM)

Do u have more details on the hlb 3.95% rate? Does it need to split the fund like OCBC combo promo?

The same branch sure wont allow you close the SS and reopen. Not sure can you do that in other branches. Let us know if you can because my FD will be matured on 5 Feb.

On your planned approach, your money in SS will be entitled to 0.5% interest only because you have withdrawn money in Feb.

Getting a banker cheque from matured FD costs you nothing but together with Money from SS will cost you RM2.15.

An alternative is opening FD in HL since the interest is almost the same except for the tenure period.

Going back to Ocbc means your SS account have to be untouched or you are willing to lose out 2.9% -0.5%=2.4% interest on your SS for Feb month only. For march and april you will enjoy 2.9% rate.

I was thinking of withdrawing from my SS account as the amount is growing bigger and bigger. As long as I can get better than 2.9% rate elsewhere, the interest loss is minimized.

No withdrawal from SS means the matured fund there is having 2.9% rate when you can possibly earn as high 3.9-4% elsewhere.
Withdrawal means you new portion of SS is getting a miserable amount of 0.5% for that particular month only. The average interest you get is 2.1% with RM1k deposit in each month.

If the amount in SS is huge it is worth just withdrew it and put it somewhere else.

For your case you can make the following calculation and compare.

Withdrawal from SS
16k - 10.7k in FD and 5.3k in SS.
Calculate the interest earn for FD and SS based on 1st month 0.5 and subsequent month 2.9%.

No withdrawal from SS
10k- 6.7k in FD and 3.3k in SS
Calculate the interest earn for FD and SS based on full rate. Added on previous 4k in SS.

Compare these two. Above is a rough estimate without taking into RM 1k deposit in march and april.

When the fund in SS is huge such as RM50k it may make sense to withdraw and deposit elsewhere.

http://forum.lowyat.net/topic/2451962/+2100
towards the bottom of the page.

it's call "hlb 4.18%", been discussed many times...

Maybank totally nothing, very sadding. Will slowly shift the fd to other banks

if u r cimb preferred, there is currently 1 month 3.5% p.a.
just to share, for me, with pidm, convenient branches...

1 month - cimb 3.5% p.a.
9 months - uob 3.65%
12 months - hlb 3.95%

keep yr blood sweat and tears money safe!!

Sorry, assumed you were aware that the promo does require a minimum of 20k to open the CASA account and in the case of existing customers, a top-up of the same amount in fresh funds is required.  I had no problem overcoming the fresh fund requirement by withdrawing 20k in cash and then immediately deposited the same amount back into the account. I am not so sure if we need to top-up 20k every month during the promo period.  If that is so (will check with the friendly staff at Affin tomorrow) I will most certainly do the same trick again.

Happy Chinese New Year 2013



And if you are wondering why I have not been posting, please click here and read post# 1655 at Credit Card Section.

Happy Chinese New Year 2013



And if you are wondering why I have not been posting, please click here and read post# 1655 at Credit Card Section.

Happy Chinese New Year 2013



And if you are wondering why I have not been posting, please click here and read post# 1655 at Credit Card Section.

Happy Chinese New Year 2013



And if you are wondering why I have not been posting, please click here and read post# 1655 at Credit Card Section.

Happy Chinese New Year 2013



And if you are wondering why I have not been posting, please click here and read post# 1655 at Credit Card Section.