Prior to this week, HLB was offering 12 months FD at 3.65% that is suppose to run until 31 October for their Priority Banking customers, but they have now reduced it to 3.6%

Junior FD 12 months tenure still remains at 3.65% currently.

Thank you for the fd rates information.

After reading all of the fd rates, I've decided to open fd at Kuwait Finance House at 3.85%. Was told that the up front interest will be credited to my savings account in about a weeks time. Another surprise is that if the amount in the savings is above RM1,000, their saving rate would be at 2% which is quite a good rate for savings. The savings account comes with Internet banking and meps card.

signup an OCBC premier account and choose the gold art as welcome gift.

wanted to qoute brother Gen-X as my introducer as this will give extra 100 cash voucher to Gen-X but the RM said she can be my introducer, so nothing.

Also, go to OUB but been inform they had increase the AUM to 500k for the premier account. give up.

Happy playing musical chair game. Next is targeting the saving account.

Surprise that the RM want to be your introducer. Thought customer has the right to name the introducer? If I were you i will ask to see Ocbc rules on introducer and post this incident on Ocbc facebook wall. Facebook is read by many people and Ocbc will sure response fast....some bank staffs just wanted to take advantage on customers

Bro, noted you just joined LYN and let me extend to you a warm welcome to FDMCGC (see post#3). And with a nickname like yours, it will make it easy for me to remember you and remind me of your kindness in wanting to let me earn FREE cash voucher

As for UOB PB, in the previous months they did offer 0.05% higher FD rate to their PB customers and they do invite their PB customers to good dinner/talk once a while. But other than that, no major diff and they still charge me RM2,15 for their cheque!!!

Click here to my article Premier Priority Privilege Banking Accounts on minimum AUM required by most banks and which bank imposes penalty if your AUM drops below the minimum.

This post has been edited by Gen-X: Sep 15 2012, 02:38 AM

Sifus,

Speaking my mind on the FD rate, I am interested to know whether the rate will be higher, same or lower in the next 5-10 yrs. My lay-person view is, it will increase. Why ? As economy recovers later, OPR will increase and thus FD rate as well. OPR's increase to dampen the inflation as economy picks up pace.

I was tidying up my FDs last night (mostly in MB eFD and AmB) to sort the mature dates so that I can then switch to better FD rates. Asking myself, get 1, 3, 6 or 9 months term or year term ? Thus this thread to all the sifus.

I know different people have different needs. But appreciate your view on future FD rate and the reason behind it. Want to have different views to avoid tunnel vision in my head.

Cheerio.

P/S Thanks for opening my eyes on this PB thing and other tips. Wish I knew about these earlier.

This post has been edited by plumberly: Sep 15 2012, 10:10 AM

HSBC will only invite you to some fancy dinner or ask you to go to their branch to have some free moon cake/light refreshment if you've invested in their unit trust/structured product etc. in that particular year


By the way, i totally agree with what you said in your blog about not to be influenced blindly when your Relationship Manager advises you to invest in one of their bank's structured investments. I invested in a 4-year structured product in 2009 and the return to date is nil. Yup, 0 I should have just put the extra money in ASW2020 (lots of unsold Bumi units then). The lowest dividend ever declared for ASW2020 in the past 3 years was 6.30% On the bright side, this structured product that I invested in will mature next year. Finally


The correct term is OPR

This post has been edited by MilesAndMore: Sep 15 2012, 10:13 AM

Yes, thanks. Can't say it is a typo as P and B are so far apart on the keyboard ! Ha.

Furthermore property speculation is quite rampant...BNM gonna/should do something about this soon. Raising OPR is one of the tools available, in addition to tightening borrowing terms.

One NEWB question,

Let say I place my FD at Affin (Serdang Branch), when my FD matured can i withdraw the money from different branch? I dont have any CASA with affin so they wont credit into my account upon maturity ?

Based on the 'Budget Preview 2013' reasearch paper by CIMB.... very election centric...

1. OPR is expected to be fixed at current rate, interest rate is expected to stay low for some time to encourage consumer spending. Also current GDP is mostly boost by government spending, so boost private spending is the target of this budget. Also the current debt to GDP ratio of 51.9% discourage the raising of interest rate. Budget deficit of 4%-4.5% is expected.

2. GST is expected to be further delayed, again to boost private spending. Implementation to be in 2014-2015

3. Expected 1 more round of handout via BR1M part 2.

4. Expected 1% cut in income tax and raising of the cap of relieve for EPF/Insurance premium from 6K currently

5. National Automotive Policy will be fast tracked to 2014-2015

6. RPGT will be raised to 10% for 3 years. Higher stamp duties for property >500K. Lower loan ratio to 50% for 3rd property. Foreiner minimum purchase price raised from 500K to 1 million.

7. Possible for reduction of withholding tax for REIT.

8. No hike for sin taxes and 1/2 month bonus for govt servant.

So don't save all your money in FD, spend it all like ajib gor says and save the Malaysian economy...

This post has been edited by gark: Sep 15 2012, 11:12 AM

If u dun have CASA, u can only do auto renewal by top up interest into principal. And no, typically FDs can only be uplifted at the same branch. Unless that branch closed down.

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Added on September 15, 2012, 11:13 amWait wait wait, I thought REIT dividends are tax-exempt?

This post has been edited by Pink Spider: Sep 15 2012, 11:13 AM

REIT got 10% withholding tax.. lar..

REIT Withholding tax

Resident Individual = 10%
Non Resident Individual = 10%
Resident Institutional Investors = 10%
Non-Resident Institutional Investors = 10%
Resident Companies = 0% ; Subject to Corporate Tax at Prevailing Rate
Non-Resident Companies = 25% for Year of Assessment 2009



This post has been edited by gark: Sep 15 2012, 11:16 AM

Mean i only need to bring along the FD cert upon maturity to get the banker cheque ?

Ooh okok my bad, benefit of REIT structure is lower tax rate than corporate tax rate, not totally tax-free. Malu lah I ni akauntan buruk

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Added on September 15, 2012, 11:17 amU have to pay for the banker cheque also

Some bank even allow uplift without the FD cert.

But, better just follow the traditional rules (same branch + bring FD cert + bring MyKad ), u won't go wrong.

This post has been edited by Pink Spider: Sep 15 2012, 11:17 AM

Nearly forgot about this 11% FD thing at MB. Saw that one a few weeks ago. Golden retirement related.

0% for the first 5 yrs and 11 % from 6th to 15th years. Interest is yearly after the 5th year at 11% of original principal. Check the web for more infor.

My quick analysis says this package (yearly interest is reinvested separately) is about the same as 5% FD at the end of 15 years.

Wanted to show the comparison chart here but don't know to add the graph.

Food for thought.

Ini...savings plan style

Why not put in KWSP rather than this 15 years retirement plan?..?
And the rate from KWSP is usually more higher..

Are you sure this is called FD?

Appreciate your rapid response.
Will start playing musical chair soon @@