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 Fixed Deposit Rates in Malaysia V4, Please read 1st post.

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pinksapphire
post Apr 25 2013, 01:46 PM

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QUOTE(mhspeng @ Apr 25 2013, 10:27 AM)
AmBank launching FD promo tomorrow, just for 2 Fridays (26 April & 3 May 2013)

Tenure 3 months -> 3.30 %
Tenure 6 months -> 3.45 %

New Individual Customer -> Minimum RM20k
Existing Individual Customer -> Minimum RM10k
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At first I thought since it's offered on such unique days, the interest must be a lot higher. But looking at the %, it's not good enough shakehead.gif

Thanks for the info, by the way!
pinksapphire
post Apr 25 2013, 01:53 PM

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QUOTE(BoomChaCha @ Apr 25 2013, 12:40 AM)
The only way is to bundle 2 different FDs with 2 different Smart Savers accounts.

Money in bundled Smart Savers (Bonus Savers) cannot be withdrew until the FD is matured; otherwise
the interest rate will be effected (less). But I do not know how does OCBC calculate this penalty rate?
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QUOTE(pisces88 @ Apr 25 2013, 12:57 AM)
yea, but i bundled it in 1 smart savers.. didnt think of that when i place..

anyway, the 'penalty' you mentioned, is reduced interest, if you top up 1k a month into smart savers, the smart savers account will get 2.9% pa, if you make withdrawal, it'll be 0.05% only..

the minimum balance you need to maintain in smart savers is the original 1:2 portion, if the balance go lower than that, your FD interest back to board rate (iirc)
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I didn't care so much already after going through the calculations and troubles, so I ended up just putting in however much I have over the span of April. By the time they're all matured, it's gonna be in July. So since I'm not supposed to withdraw my SS account till Aug 1st, I will just switch those FDs that have matured earlier into the SS account while waiting for the rest to be matured. One shot withdraw all from SS after that.

Considering there's 2.9% for SS account, it's not too bad to park those FDs that has matured under it for max couple of weeks if there's no other good FD promos elsewhere.
stanny
post Apr 25 2013, 02:06 PM

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How come for Mach by HL Fixed Deposit, I put 1 year deposit but for some reason every month it is giving me interest to my money box account?
razor21
post Apr 25 2013, 02:22 PM

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Want to ask regarding fixed deposit dividend calculation ... Let say 3% interest in 1 month.. I put rm1000 for a month, is true after a month I get rm30 ,, how the dividend calculated??? .. Thank you
nomen
post Apr 25 2013, 03:15 PM

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QUOTE(razor21 @ Apr 25 2013, 02:22 PM)
Want to ask regarding fixed deposit dividend calculation ... Let say 3% interest in 1 month.. I put rm1000 for a month, is true after a month I get rm30 ,, how the dividend calculated??? .. Thank you
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RM1000 X 0.30 divide 365 days X 30 days = RM24.66
ChipZ
post Apr 25 2013, 04:14 PM

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QUOTE(nomen @ Apr 25 2013, 03:15 PM)
RM1000 X 0.30 divide 365 days X 30 days = RM24.66
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Its RM1000 x (3/100) x (30/365) = RM2.465
aeiou228
post Apr 25 2013, 05:23 PM

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QUOTE(stanny @ Apr 25 2013, 02:06 PM)
How come for Mach by HL Fixed Deposit, I put 1 year deposit but for some reason every month it is giving me interest to my money box account?
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Because Mach 12 mths FD pays monthly interest.

QUOTE(razor21 @ Apr 25 2013, 02:22 PM)
Want to ask regarding fixed deposit dividend calculation ... Let say 3% interest in 1 month.. I put rm1000 for a month, is true after a month I get rm30 ,, how the dividend calculated??? .. Thank you
*
Actually, you question is correct though. It is true that 3% interest in 1 month is indeed rm30 per month and if you place it for 1 year, the interest rate is approx 36%p.a. ( discounting the monthly compound interest.) However it is not possible to get 36%pa. fd rate in Malaysia.
stanny
post Apr 25 2013, 06:18 PM

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QUOTE(aeiou228 @ Apr 25 2013, 05:23 PM)
Because Mach 12 mths FD pays monthly interest.
That's pretty good. That means I can use these money to put in more FD means it's actually more than 4% for 12 months?
aeiou228
post Apr 25 2013, 06:42 PM

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QUOTE(stanny @ Apr 25 2013, 06:18 PM)
That's pretty good. That means I can use these money to put in more FD means it's actually more than 4% for 12 months?
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Not much for small amount deposit. around 4.07% effective if compaund interest taken into consideration.
gsc
post Apr 25 2013, 09:57 PM

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QUOTE(aeiou228 @ Apr 25 2013, 05:23 PM)
Because Mach 12 mths FD pays monthly interest.
Actually, you question is correct though. It is true that 3% interest in 1 month is indeed rm30 per month and if you place it for 1 year, the interest rate is approx 36%p.a. ( discounting the monthly compound interest.) However it is not possible to get 36%pa. fd rate in Malaysia.
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Haha...three different answers and yours is the correct one
soulmad
post Apr 25 2013, 11:10 PM

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can anyone tell me this SCB
http://www.standardchartered.com.my/person...ndle/index.html
monthly minimum requirement
can i partially withdraw out the fund after deposit?
or can i use the fun for conventional FD????
cwhong
post Apr 26 2013, 12:01 AM

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QUOTE(mhspeng @ Apr 25 2013, 10:27 AM)
AmBank launching FD promo tomorrow, just for 2 days (29 & 30 April)

Tenure 3 months -> 3.30 %
Tenure 6 months -> 3.45 %

New Individual Customer -> Minimum RM20k
Existing Individual Customer -> Minimum RM10k
*
Y no info on its website geh?
mhspeng
post Apr 26 2013, 09:14 AM

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QUOTE(cwhong @ Apr 26 2013, 12:01 AM)
Y no info on its website geh?
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information not necessarily from website geh...

visit branch you will know lor..
Human Nature
post Apr 26 2013, 12:25 PM

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Any special rates from UOB or HLB for 12 months deposit?

Else have to go for BR again. Thanks smile.gif
yrh0413
post Apr 26 2013, 12:40 PM

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UOB 3.7% p.a. for 12 months FD, promotion until end of April.
Human Nature
post Apr 26 2013, 12:43 PM

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Oh okay, so it is still the Super Deal FD. Thanks~
jkngo2003
post Apr 27 2013, 06:43 PM

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may i know why nobody want to do FD at bank rakyat?
4% pa
Human Nature
post Apr 28 2013, 10:45 AM

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QUOTE(jkngo2003 @ Apr 27 2013, 06:43 PM)
may i know why nobody want to do FD at bank rakyat?
4% pa
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We do actually but we don't put all eggs in one basket smile.gif
jkngo2003
post Apr 28 2013, 12:10 PM

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QUOTE(RO Player @ Apr 28 2013, 11:03 AM)
mine is 4.13%..auto renewal...

plan to deposit..to other 'profitable' areas..
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where can get 4.13 pa?
jkngo2003
post Apr 28 2013, 12:11 PM

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do bank rakyat no PIDM? any disadvantage?
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