haha, I only want to convert if the rate I get is less than 3.10, so took your advise and cherroy's by using DCI method. The thing is I am willing to wait because difference of 0.1 is like 3.1-3.2% savings (equivalent to 1 year FD board rate or current AUD Time Deposit rates). Worst come to worst, between now and until end of the month, I can use my Citibank Global Fund Transfer for instant transfer when rate goes to 3.05 (if ever) and it will still be just below 3.1 after the exchange fee. Next month I'll be back and then see how. Still got spare AUD to burn with my Australia Debit Cards where I have deposited funds into the accounts back in May when the rate was below 3.1, so if AUD strengthens this or next week not an issue for me.

I have allocated a certain amount to be converted if and only if the rate is below 3.10. If it goes below 3.0 more will be converted and so forth. If goes to 2.75 before February 2013, I would be a very happy man because it's like 16% savings (in a matter of 4 months from 3.2). If it strengthens, then too bad for me, like I said betting.....

2011 was a still a mining boom year for Australia

This post has been edited by Gen-X: Oct 8 2012, 11:28 PM

Can confirm that the UOB promo is still available. Just deposited today.

Maybank2U eFD/ eIFD-i Rush Campaign

Enjoy higher returns with just a few clicks!
Simply log on to Maybank2u Secured Site and perform an electronic Fixed Deposit (eFD) or Islamic Fixed Deposit-i (eIFD-i) placement and be rewarded with higher returns of up to 3.20% p.a.

This electronic Fixed Deposit (eFD)/Islamic Fixed Deposit-i (eIFD-i) Campaign will commence from 8 October until 14 October 2012, or upon reaching the set target, whichever is earlier.

Eligibility
• Individual/Joint account depositors including foreigners
• Sole Proprietor Only

Campaign Period
• 8 October until 14 October 2012, or upon reaching the set target, whichever is earlier

Minimum Placement
• RM100,000 in a single placement

http://www.maybank2u.com.my/mbb_info/m2u/p.../PRO-Promotions

This post has been edited by ronnie: Oct 9 2012, 07:31 AM

For my case, the banker's cheque by ocbc clears the same day because i use the same cheque for a new placement with UOB and it starts the same day as the issued cheque. Meaning, morning i withdraw funds from ocbc and put in banker's cheque and then i go over to uob and put a new placement using the same cheque. The new placement value date is the same day. So no worries on losing out 2 days to wait for cheque to clear before can be use as a new placement.

Most banks follow this policy... KFH or Bank Rakyat or HSBC Amanah doesn't

Using banker cheque or personal cheque open fd will start immediately on the day itself in most banks but banking into account to take out as cash money is a different story

Going try my Musical Chair with OCBC Booster Deal.... unless an even better offer comes up

This post has been edited by ronnie: Oct 9 2012, 04:01 PM

Booster deal?

Today tried out IBG, morning transferred afternoon 3pm money appeared in account. Looks like cheaper than rentas way. Taking banker cheque need to bank in and involves transport costs.

Is there any cap on the IBG amount?

Was informed today that HLB 3.6% 12 Months FD ending today. So call before going to reconfirm.

hi, newbies here. Public Bank Junior WISE saving account not bad.

WISE SAVINGS ACCOUNT - effective 27 June 2011

Nominal Interest Rate (p.a.) Effective Interest Rate* (p.a.)
First RM50,000-00 2.82% 3.00%
Above RM50,000-00 0.53% 0.53%
*Inclusive of bonus interest of 5%

Suitable for long term saving.

---

Added on October 11, 2012, 11:10 amThe interest is credited monthly. considered 3% p.a if no withdrawer are made during the month.

---

Added on October 11, 2012, 11:11 ambut personally, i like affin bank. 3.6% p.a. no special condition needed.

This post has been edited by jacklew77: Oct 11 2012, 11:11 AM

For Junior savings account, I think OCBC's Young Savers Account is the best.

2.85% p.a.
No tier.
Unlimited free withdrawal.
Cash reward for scoring As in public exams.
5% bonus interest if no withdrawal made in a calender month. (Effective rate is 2.9925% p.a.)

Please share any savings account better than the above that pays good interest without ceiling limit yet flexible to withdraw without interest penalty.

---

Added on October 11, 2012, 11:42 amWhat is the product name of Affin bank's 3.6% saving account ??

This post has been edited by aeiou228: Oct 11 2012, 12:56 PM

Thanks @ aeiou228. The OCBC junior saving account looks better than Public Bank. The Affin bank 3.6% is not saving account, but FD. Sorry for not elaborate clearly.

Bro, the PBB Wise account only allows FREE 6 withdrawals within 6 month. But you get 5% Bonus on interest if no withdrawals - but if do not need to withdraw from Savings Account, like you said, why want waste time with Savings Account? Straight away go deposit into Affin 3.6% and earn more interest.

Anyway, I have published an article title The Best Savings Account in Malaysia where I have prepared a table comparing Savings Accounts from different banks, i.e. withdrawal conditions, interest rate and interest credited. OCBC Junior SA interest rate is good but need some planing because if you don't withdraw early of the month, one would only earn 0.5% interest.

Click here to read my post The Best Savings Account in Malaysia

The best combo in my opinion if one has a child is go with HLB Junior FD + Junior Savings Account. HLB offering 3.65% for 12 Months Junior FD and interest credited monthly into the Junior Savings Account to earn another 2.95% pa. And once you hit the minimum amount to be eligible for Junior FD, deposit again (withdraw as cash and redeposit with another teller to consider fresh fund if necessary) and start earning higher interest rate.

This post has been edited by Gen-X: Oct 11 2012, 12:37 PM

AGen-X. Thanks. The HLB Junior FD + Saving Account looks a great deal. I just sold all my U.S. share few weeks ago. Gonna open a new account (for my baby) with Hong Leong Bank then. Really appreciate your info.

Bro, if you have RM300K, I suggest before you go and deposit into HLB, look into OCBC 5% Premium Account Promo + Combo Plan (4% FD + OCBC Junior SA) and earn minimum 4.27% for 3 months. Click here to see how to go about earning the 4.27% at my Fixed Deposit Promotion Page. After 3 months, join us in playing FD Musical Chair game

It is a bit far to visit OCBC bank at my place. Furthermore, their online banking system not so great compared to others. But i will consider it in view of its 5% premium account promo !!! Thanks @Gen-X.

---

Added on October 11, 2012, 2:28 pmHow about ASM & AS1M ?? AS1M just declared 6.6% recently....

This post has been edited by jacklew77: Oct 11 2012, 02:28 PM

Quota for non bumi all sold out. You can discus about it here: http://forum.lowyat.net/topic/2256158

Hl junior saving account is = 1 mth fd rate. = 2.95%

Would like to know, is interest earned from FD deposits tax deductible?