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Their new one gives very low effective rate...otherwise I would have renewed

Still not too bad for 3 months FD as I wasnt looking for long term

Sorry if this is out of topic or wrong thread.
Would like to know which CASA offers the highest interest?
So far CIMB's MoneyMultiplier is 2.5%, MBB's Saver-i is 2.1-2.3%, any other banks' products offering better than these?

You got children ? OCBC minor SA is 2.75% up to RM50k, HLB minor account around 2.80 to 2.90 I think. Got 50k ceiling too.

Yes I have children. Will look into these and thanks. For HLB 2.8 to 2.9 is as good as 1 month fd.

Hi guys, a quick question here.

For the OCBC smartsaver, if my FD is already matured and withdrawn and if I maintained the amount in my smartsaver for 4th and 5th month, willl I be getting the interest rates of 2.9% if I continue to deposit 1k into the account without any withdrawal?

Thanks.

Yes, it has no link to your FD.

Affin Bank normal saving account:
http://www.affinbank.com.my/rates/ratescon.htm

Affin Gold saving account:
http://www.affinbank.com.my/banking/condeposit/affingold.htm

Good to know

These two accounts give better returns than my currrent MBB & CIMB CA, Thanks.

Ongoing FD promo at Affin Bank: 9 months at 3.88% pa. Have to place 20% in savings. If above 50 use Affin Gold at 2.8% pa (above $5000), effective 3.7%

Affin Bank FD Promo -- From July until December 2013

To place 20% in CASA means to place extra 20% of FD amount into CASA.

For example:
If place RM 10K in FD, then will need to place additional RM 2K (20% of FD amount) into CASA, total deposit amount is RM 12K.

Thanks for the info. I guess the minimum amount of fresh fund for the promo is RM20K.

For their Priority Banking Customer they offering up to 4.5% and they stated effective interest rate 3.38%.
Now, what is being stated for the Effective Interest Rate is only for the FD portion and the amount deposited into the CASA not taken into consideration, Therefore. the effective rate should be lower.

Yes OCBC Children Savings Account interest rate is at 2.75% (which is same as their 1 month FD rate) and interest credited half yearly whereas HLB Junior Savings Account interest rate is 2.9% and credited monthly. For HLB, you can go to any HLB branch to perform withdrawals - no limit.

MGM, click here to my article The best Savings Account in Malaysia and you will see a table comparing Savings Account (but note that the interest rate may have changed since it was prepared last year). AndI updated the article to highlight UOB eAccount which pays 2.68% for amount greater than RM15K and UOB Children account which pays 2.9% up to RM50K.

This post has been edited by Gen-X: Oct 2 2013, 08:15 PM

HLB junior SA rate is following the bank 1 month FD rate, thus may not be fixed.

Ocbc smart saver 2.9% but once withdraw the rate drop to 0.5%.

damn im confuse...

im thinking of putting 5k in fd...

anyone englighten me which bank?

Thanks BoomChaCha, go dig out more FD promos and post it here

Walternate, you are right, if above age 50 then the Affin promo may be worthwhile to consider. I just did a quick calculation for total RM24K and 120K deposit and the effective rate works out to be about 3.4% and 3.56% respectively (with Affin Gold). If you have more than RM120K to deposit, then the effective rate increases since the Affin's Saving Account interest rates are tiered based.

So if you ask me, if one has less than RM120K to deposit, just go with AmBank current straight forward 9 months promo at 3.55% and save the hassle to open another Savings Account.

I just updated my Fixed Deposit Page at my blog and noted almost all the FD promos have condition relating to CASA. If you look carefully at Mach by HLB and Ambank eFD 3 months online FD, the interest rate of 3.25% and 3.3% is actually pretty good since one does not need to deposit a sen into CASA. And for straight forward FD, AmBank 3.55% for 9 months looks good too but you got to be fast as it ends 15 Oct 2013. And if you have a child, KFH Junior ICM Deposit-i is really good.

for RM5K, go see the bank's board rates in Post#1 but I will say which ever bank that is most convenient to you. Then again, are you into online banking? Like I mentioned above, Mach by HLB and AmBank eFD pretty good for less than 12 months. For 12 months, for RM5K you can go with Affin Bank and get 3.6%.

This post has been edited by Gen-X: Oct 2 2013, 10:49 PM

5k deposit actually no need confuse. Just deposit the money to the bank nearest to you or online FD.
A rm5 petrol and parking cost is equivalent to 0.4% of a rm5k 3 mths FD. Therefore an online 3 mth Fd of 2.9% gives you better return than a 3 mth FD 3.2% from another bank but with traveling cost of RM5 to get there.

does it have to buy what stamp and etc upon sigining up or withdrawal and etc?

Don't really understand what you mean but yes you do need to sign up for an account. Bro, just go to the nearest bank and deposit your RM5K into FD and you will learn the process.