Fixed Deposit Rates in Malaysia V5
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 Sep 19 2013, 04:11 PM
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#1
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Junior Member
54 posts Joined: Jan 2010 
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Just 1 question to ask (sorry if its off topic). I've read that FD interest are tax free up to RM100k of deposits you put in. Does that mean if I have cash excess of RM100k (lets say 1 million) and deposit into FD, 900K's deposit's interest will be taxed?
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Sep 19 2013, 04:28 PM
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#2
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Junior Member
54 posts Joined: Jan 2010
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QUOTE(cherroy @ Sep 19 2013, 04:23 PM) Witholding tax on FD more than Rm100k already abolished years ago, no longer applicable now. Thx for your reply. If I understand it correctly...does it mean that no tax is applicable to interest earned from FD? |
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Oct 31 2013, 03:22 PM
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#3
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Junior Member
54 posts Joined: Jan 2010
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QUOTE(cherroy @ Oct 31 2013, 12:06 PM) Flat or staying at current rate is the most likely. To control inflation..Central Banks will try to tighten money supply and one of the most common ways is thru raising interest rates. With increasing interest rates, more people will deposit money (as per many sifu's here) and less people will borrow as cost of borrowing increases. As inflation threat is quite serious out there. Also, BNM doesn't wish low rate that prompt more property speculation as well as already high household debt out there. Also, if lower rate, it may mean negative real interest rate,as inflation is expected to notch up with subsidy cut here and there as well as GST implementation in the coming year (2015). So both up and down got its effect that BNM may not want to see. In fact, to further curb property speculation, increasing interest rates will be the better way other than RPGT. But will the Central Bank increase IR or not...really no idea. |
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