Fixed Deposit Rates in Malaysia V4, Please read 1st post.
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 Mar 5 2013, 01:56 PM
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#1
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Senior Member
6,779 posts Joined: Dec 2005 From: Kuala Lumpur  
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QUOTE(Asgaard @ Mar 5 2013, 01:43 PM) HLB tomorrow will start promotion 3.75% FD pa for 12 months placement. The 3.8% Islamic FD might end tomorrow due to overwhelming response. New brochure are already at hlb branches Why don't want mach HL 4%? |
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Mar 9 2013, 04:06 PM
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#2
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Senior Member
6,779 posts Joined: Dec 2005 From: Kuala Lumpur
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If MACH closing need rm20 to close account, then just withdraw everything and leave the account there and don't close.
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Jul 31 2013, 01:15 PM
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#3
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Senior Member
6,779 posts Joined: Dec 2005 From: Kuala Lumpur
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OCBC loan only 3% (pay bank monthly in 12 months) and its FD is 3.4% PA. So bank lost 0.4%?
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Jul 31 2013, 01:32 PM
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#4
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Senior Member
6,779 posts Joined: Dec 2005 From: Kuala Lumpur
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QUOTE(aeiou228 @ Jul 31 2013, 02:29 PM) The different between loan and FD are, ya lo i also tot of that. tak kan bank so pandai doing a losing business you need to repay the loan to the bank every month from the very first month after the loan disbursement. Whereas Bank never repay your FD principal every month. It pays you back in one lump sum + interest upon FD maturity date. The key word here is EFFECTIVE RATE. but i think that kinda loan good when stock market koyak, can use it for accumulate good share. should be able to easily offset that 3% kua. |
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Jul 31 2013, 01:57 PM
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#5
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Senior Member
6,779 posts Joined: Dec 2005 From: Kuala Lumpur
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QUOTE(cherroy @ Jul 31 2013, 02:55 PM) 3% term loan can be turn out to be 6-7% EIR, depended on the tenure. she said if i early settle say 3 months, i won't be paying just the 3 months interest but more than that due to effective rate. so she said better not early settle. full tenure 12 months more worth it. |
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Jul 31 2013, 03:09 PM
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#6
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Senior Member
6,779 posts Joined: Dec 2005 From: Kuala Lumpur
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QUOTE(cherroy @ Jul 31 2013, 04:05 PM) No take loan is better. oh wow, so cheeky ya the bank. actually ah, this is quite equal to zero interest payment scheme (say I buy something RM30k), 12 months but zero interest. if use credit card, got many some 1% cash rebate some more. even then, they will earn something, so this 3% they earn more liao.Yes, your banker is correct. Settle earlier won't result in saving interest, as term loan interest is calculated straight line one. Term loan works like this. You take 50k at 3%, means your total pay back is 51.5K for 12 months. Then 51.5K / 12 = your month repayment = 4291 It works out you are paying 125 interest per month. For the first month, Rm125 is 3% of your 50k For the second month, you still paying Rm125 interest, but you only owe them 45709. = 3.28% pa. For the third month, you still paying Rm125, but with 41418 balance = 3.62% |
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