This one-time offer when you open Term Deposit-i at HSBC Amanah branches (newly open branches only)...details on 1st post

I didnt spend time to calculate in detail but I agreed with you on looking at the overall picture of 300k for 5% then interest earned is rm15k, anything less is less than 5% interest rate

Bro, why you never read my post Maybank Premier Mudharabah Account-i - Up to 4.75% Dividend at my new Fixed Deposit blog?

First of all you not getting 5% because the GIA-i 1 month rate is not 3%

Secondly, in the same post mentioned above, I did advise that one opens the account and deposit RM50K prior to November in order to get the GIA-i 1 month rate in November.

And last but not least, for CASA, unless you are depositing cash, the money needs to be cleared so opening an account on 1st November to get the Gia-i rate will depend on how you deposited your fund.

Once again, you are NOT going to get 5% no matter how you calculate because the GIA-i rate is not 3%. IF for less than RM50K, no brainer, go for HSBC 5%.

Once again, nobody is going to get 5% for November and December 2012 based on GIA-i 1 month current rate.

Very true, with the 2% interest this account is very good for those who open it this year but it is not necessary the highest interest rate for RM5K and below. Click here to my article The Best Savings Account in Malaysia to see savings account offering 2.85% and above with RM50 deposit monthly.

This post has been edited by Gen-X: Oct 18 2012, 01:31 PM

Can we open the PMA-i at normal Maybank branches ?

Bro Gen-x, I read your blog, showing 2.75%. However on Maybank Islamic website still showing 3%, i guess its rates should be shown on current rates. However dose not matter as its still highest available to us not from the Klang Valley.

Maybank Islamic Gia-i for 1 month FD which is the reference shows indicative rates at 2.75%. Still good to go.

This post has been edited by magika: Oct 18 2012, 01:55 PM

Why dun u share here directly , I am getting 3% most of the month, it is usually 3%, as I know it is variable, maybe more, maybe less, not a must 2.75%.
Can you share more on the savings account offering 2.85%? Btw, I never call it a saving account if no withdrawer then only can get 2.85%. If no withdrawer allow then why not place in FD directly?

This post has been edited by eugenecctan: Oct 18 2012, 01:55 PM

Share it here, it's freaking long and I have summarized it earlier, see below:

As as I said, there are accounts that pay you higher than 2.85% even if you do withdrawal and mentioned in this thread over and over again.

You may have earned 5% for previous months but you should not be misleading others that they can get 5% for November or December. Please check the GIA-i rate yourself at Maybank site if you do not wish to visit my blogs.

This post has been edited by Gen-X: Oct 18 2012, 02:05 PM

HahahahahhahAHHA, if anyone here feel that I am trying to misleading them, sorry ya.
I am PMA-I owner for years, as I said, the rate is variable. the purpose for my sharing not to misleading anyone. It is to share a nice product.

Btw, do u ,meant this link -> http://www.maybankislamic.com.my/promo_get...ign-111230.html

It is stated very clear 3%, please blame Maybank ya for misleading, if you have the correct info.

This post has been edited by eugenecctan: Oct 18 2012, 02:32 PM

Let's say we open this month and we will get 2.75/3 starting nov and dec. what shall we do in jan 2013? Waiting for new promote or withdrawl fully?

No promise on new promotion.

Bro, I agree it is a great product for 2012

But I guess you failed to grasp the terms and conditions of the Promotion which clearly states that for RM50K and above with no withdrawals, the interest rate is based on 1 month GIA-i rate which is also clearly stated in the link you gave above i.e. read the Note **

It does not matter if you have been a owner of the PMA-i account or not, what matters are the terms and conditions.

You keep stressing it is 5% which is not true if one opens the account now.

For those who are going to opened the account now till end of October, I have even pointed out to others that they will not get the GIA-i 1 month rate but tier interest rate no matter how much one deposit for October. Same condition applies for November and December if one does not have minimum RM50K credit beginning 1st Nov and Dec. And nobody was even aware of this; and if you did, you failed to highlight this important note.

The point is everyone here is thinking they getting 5%pa without reading the terms and conditions or checking with the bank before posting.

This post has been edited by Gen-X: Oct 18 2012, 02:57 PM

Genx is right on this. The current rate (16Oct - 15Nov) is 2.75%. See link here: Maybank link

No, I don't have existing PMA-I account yet. I appreciated your sharing of PMA-I in this thread and it prompted my interest and that's why I actively participated in the discussions pertaining to this promo

I care because I found a discrepancy of 4.5% being defined as 5% (assuming the GIA-I is fixed at 3% and Extra dividend is fixed at 2%) and I wish to debate about it . And I was referring to the sample calculation posted by you.

Anyway, you are right about 5%p.a (assuming the GIA-I is fixed at 3% and Extra dividend is fixed at 2%) only if customer is NEW TO PMA-I in the calender year 2012 with zero balance as at 31.12.2011.

Since you mentioned that it only applicable to you as an existing PMA-I customer with balance as at 31.12.2011, perhaps you can share with me what is my effective % for the entire calender year of 2012, if :-

My existing PMA-I Balance as at 31st Dec 2011 = RM30,000
I top up on 1st Jan 2012 = RM70,000
Balance as at 31st Dec 2012 = RM100,000

Assuming:-
No withdrawal thru out year 2012
GIA-I and extra dividend fixed at 3% + 2% thru out year 2012.

Thank you

This post has been edited by aeiou228: Oct 18 2012, 03:15 PM

Btw, as i have said, it is variable, it is like u cannot confirm that next month will be 2.75, can you?

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Added on October 18, 2012, 3:26 pmSplit this into 2 accounts, easier to understand, based on my understand,
for the 30K, you will be still getting 3% every month. It is accumulating, meant for January, you will get 30k + 3%p.a., for February, you will get (30K + 3%) +3%p.a. ...... December
for the 70k, you will get 5%p.a., but again, it is accumulating, for 3%p.a. (same calculation as above for 30k) and also for the 2%. (Also accumulating by daily average)
***** Assuming it is 5%, I dun wan to misleading anyone.

Btw, the calculation was provided by Maybank to me, I am just sharing.

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Added on October 18, 2012, 3:29 pmBtw, 1 question, if you were to open new account on 1st November, you will get your interest on 31st of November, the above 2.75 is for 16Oct - 15Nov. Maybe you should check with Maybank on how much you will get for November and December. , Again it is a variable.

This post has been edited by eugenecctan: Oct 18 2012, 03:29 PM

hi fellas. may i know what is the best effective FD rate at the moment? thanks

Thank you for time Bro.

My old tool of trade (financial calculator) still working fine abide covered with dust, I still agak-agak remember how to do some simple compound interest calculation . Let me complete the equations for you.

With the assumptions that:
GIA-I rate is 3% pa compounded monthly.
Extra Dividend is 2% compounded monthly. (Actually extra dividend is paid yearly but I assumed paid monthly for easy calculation)

For the 30K, the compounded dividend for 2012 is = 912.48
For the 70K, the compounded dividend for 2012 is = 3,581.33

Therefore total monthly compounded dividend for calender year 2012 is RM4,493.81. Right ?? Hence 4.49% p.a effective return out of RM100,000 investment amount. I really couldn't figure out where is the other supposedly 0.5% came from.

Above is based on your formula ie split to two account.

Bro, if just for the RM70K incremental amount, your calculation shows more than 5%

The Maybank PMA-i Extra 2% promo is applicable to incremental amount in 2012 (i.e. amount deposited in 2012 less amount as of 31 December 2011). No where did Maybank Islamic promised 5%.

And by the way, the calculation assuming one earns the GIA-i one month's rate on the first month is subjected that the RM70K deposited on 1st of the January is cleared and credited into the account on the same day so that one has minimum RM50K for a full calendar month to enjoy the 1 month GIA-i rate. And since 1st January 2012 is a holiday, there is no way you will earn the 1 month GIA-i rate for January even if you top up RM2Million because you only had RM30K as of 31 December 2011 and therefore the same as of 1st January 2012. In order to get the 1 month GIA-i rate in January, you need minimum RM50K as of 31 December 2011.

This post has been edited by Gen-X: Oct 18 2012, 05:45 PM

Bro Gen-x, I still could not find the tier clause thingy. Without that clause we (meaning interested forummers) still can get the ahem. .cough..supposedly 3% monthly and tenure dividend. My opinion only.
The indicative rate is based on Gia-i 1 mth tenure, but not necessary be exactly one month, as shown by the sample calculation, still can enjoy the rates no matter what day we deposit. I was thinking along Smart Savers line.

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Added on October 18, 2012, 5:46 pmStill holding on to the balance at 31 December for your calculation?
Your RM 70 k earned 5.11% already, omg must hurry to open..

This post has been edited by magika: Oct 18 2012, 05:55 PM

Bro, you are right, I also cannot find the clause thingy, hahaha I was informed of this condition by Maybank Affluent Banking Exec.

You still have more than a week to drop by Maybank and confirm this tier thingy I have been highlighting and prove me worng, hahaha.

This post has been edited by Gen-X: Oct 18 2012, 06:06 PM

That was not my calculation, it was Bro eugenecctan punya formula as below. I just help to calculate the compound interest and complete the equations saja.


This post has been edited by aeiou228: Oct 18 2012, 06:05 PM