Previous Threads

Original FD Thread
Fixed Deposit Rates in Malaysia V2
Fixed Deposits Rates in Malaysia V3
Fixed Deposit Rates in Malaysia V4
Fixed Deposits Rates in Malaysia V5

Malaysia Major Commercial Banks and Foreign Banks Fixed Deposit / Time Deposit Rates as of 16 July 2014.

Bank - FD rates for 1 month, 3 months, 6 months and 12 months.


Affin Bank - 3.25%, 3.3%, 3.40% and 3.7% (Revised 18/7/14)

Alliance Bank - 3.15%, 3.2%, 3.25% and 3.3% (Revised 21/7/14). FD Gold 12 months 3.40% (Interest paid monthly).

AmBank - 3.15, 3.2%, 3.25% and 3.35% (Revised 18/7/14)

Citibank - 2.95%, 3.10%, 3.10% and 3.20% (Revised 17/7/14)

CIMB Bank - 3.25%, 3.30%, 3.35% and 3.40% (Revised 16/7/14)

Hong Leong Bank - 3.05%, 3.1%, 3.2% and 3.30% (Revised 16/7/14)

HSBC Bank - 2.90%, 3.10%, 3.15% and 3.25% (Revised 16/7/14)

Maybank - 3.15%, 3.20%, 3.25% and 3.30% (Revised 16/7/14)

OCBC Bank - 2.75%, 2.85%, 2.9% and 3.05%

RHB Bank - 3.15%, 3.20%, 3.25% and 3.45% (Revised 18/7/14)

Public Bank - 3.15%, 3.20%, 3.30% and 3.35%. PB Golden 50 Plus 12 months 3.45% (Revised 16/7/14)

Standard Chartered Bank - 2.95%, 3.10%, 3.15% and 3.25% (Revised 23/7/14)

UOB Bank - 3.05%, 3.10%, 3.10% and 3.30% (Revised 18/7/14)

Fixed / Time Deposit and Savings Account Promotions 2014
Please call the nearest bank to reconfirm the rates (go to the bank website for bank contact number where you can also get the contact number of the branch nearest to you) before going to the bank to check if promotions are still valid.

AmBANK - Valid until 19 September 2014.




HONG LEONG BANK

15 Months - 4% with 10% into CASA

12 Months - 3.85% with 10% into CASA

CASA amount to be earmarked for 6 months.



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MACH by HLB - MACH revised up their online interest rates for FD effective 16/7/2014 and they are now as competitive as Affin Bank.




OCBC BANK - Minimum RM10K. Promo ends 31st July 2014. Please call OCBC for latest promos.

Fresh Funds Options

Option 1 (REVISED IN JUNE) - 18 Months Tenure. First 12 months 3.6% and remaining 6 months 4%.

Option 2 - 12 Months 3.65% Islamic Banking "FD". No need to worry about stupid CASA thingy.

Option 3 - 3 Month 4.3% But you go to place equal amount in CASA. If you are new to OCBC Combo FD Savings Deal, please click here to my blog and read my comments.

Existing Funds - No need stupid CASA thingy.

3 Months - 3.2%
12 Months 3.4%


UOB BANK - Please call UOB for latest promos.

PUBLIC BANK ISLAMIC - 9 Months Step Up FD. Rates revised 1st July 2014. Valid until 30 September 2014

Public Bank Islamic has a Step Up FD without the stupid CASA requirement.




Maybank


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BANK RAKYAT - NOT Eligible for PIDM

If you are willing to go deposit with a non PIDM member, then check out Bank Rakyat Deposit Account -i which is based on Islamic Principles and like all Islamic banks' products, the profit rate cannot be guaranteed.



Thanks to all members who highlighted that deposit more than RM5K with BR is now eligible for monthly dividend. However, please note that many members here reported that their monthly dividends were not be credited monthly but they have to call up BR staff to have it done manually every month!!!
Special thanks to bbgoat for reporting the tenure to be eligible for monthly dividend:
Important dates in regard to possible interest rate changes:

Fantastic compilation by BoomChaCha
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Last but not least, for more Fixed Deposit Promotions and my comments on them, please click here to my FD Page.

This post has been edited by Gen-X: Sep 2 2014, 08:21 PM

Please DO NOT go Off Topic.

Only post if you have something to share in regards to Fixed Deposit.

This post has been edited by Gen-X: Apr 12 2014, 10:04 AM

Thanks Captain, you are the right person to re-start the thread !

I saw other threads have something like below in their rules:

Respect each other. We do not want flame wars here.
No abusive, offensive languages.

Thanks again !!

This post has been edited by bbgoat: Apr 12 2014, 10:56 AM

I teach u how to calculate Average so that next time you can calculate yourself.

Total up all the 12 months rates then divide the total sum by 12. You will get the 12 months average rate.

4.33% pa? That's the highest 12 months FD rate in Malaysia. You sure your calculation is correct ?

OK, this one is CASA & FD combo. So need to mention the CASA requirement to get the real interest rate.

It was discussed in previous thread. I cannot remember the CASA required. But after taking that into account, the effective rate is not high.

that promo was discussed before. if i remember correctly 80/20. means the rate has to multiply by 0.8.

pbb fd promo has never been interesting. one year look for uob or affin.

Ya, PBB FD promo always not that exciting. You can get more info from Gen-X's blog:

http://generationsxyz.blogspot.com/p/fixed-deposit.html

V6.1?

It should have start earlier. It has been out of topics so long...how to calculate maybank 3.88 effective rate?

Post#2 - Only post if you have something to share in regards to Fixed Deposit. Your spamming may lead to this thread being closed again and someone got to go restart the thread and call it V6.2, hahaha

Bro, you teach him half-way only. You forgot to tell him to read the Terms and Conditions too.

Bro, you quick learner and your maths pretty good. But since I am so free now, I am going to pass to you the secret of FD Promos and calculating effective interest rate. And the secret is like I mentioned above, you need to read the Terms and Conditions of FD Promos. If you click on the T&C ( the link here for your easy reference ), you will note that you have to deposit 20% into Public Bank PLUS Savings Account and this said amount shall be earmarked for 12 months too. The next step is go see the interest rate for the Plus Savings Account and you will note it pays miserable interest rates even if you deposit more than RM1M!

So say you got RM100K to deposit, RM80K shall be deposited into Public Bank's so called Super FD and balance RM20K into Plus Savings Account which pays you 0.1% (Plus Savings Account interest rates are based on tiers and interest paid half yearly).

For simplicity sake, say you'll earn 0.1% from the Plus SA. Therefore the total interest you will earn at the end of 12 months is approximately:

Super FD RM80K x 4.33% = RM3464
Plus Savings Account RM20K x 0.1% = RM20!!!! Please note it should be lower since you ain't getting a sen in interest for the first RM3K!!!!!

Therefore total interest earned for a year = RM3464 + RM20 = RM3484 (see this freaking number, sure die one).

So you tell me, what is the effective interest rate for your RM100K deposit. If one doesn't know, then better one avoid Combo FD Deals and just go with Affin 12 Months FD Board rate of 3.6%.

And since I am freaking free, here is another tip- After the FD Promo period, you will be stuck with board rate if you opt for auto renew. When chasing after FD Promos, do consider time you need to go waste at the bank, petrol cost and parking cost. If you have less than RM10K, just go with Affin Board Rate 3.6% and you can go anytime at your convenience to update your cert whilst still earning 3.6%


Bro, usually I won't be bothered with Public Bank's Step-Up FD Promos because experience tells me it will be lower than Affin Bank's board rate. Actually, nowadays whenever I see the Step Up FD promos with the stupid CASA requirement, I won't even take a second look.

Like aeiou228 mentioned above - Total up all the 12 months rates then divide the total sum by 12. You will get the 12 months average rate.

And once again, go read the T&C and you will note you got to deposit 20% into selected Savings Account which also pays miserable interest rates.

This post has been edited by Gen-X: Apr 12 2014, 11:22 PM

hi bros,
anybody can login to your BR's internet banking?
I couldnt login since this morning!

That's the problem. The link given was also half-way, can see only 11 months interest rate and no CASA thingy.
Luckily I never teach divide by 11 months

We only focus on FD here. You basically have covered all possible investments (UT another one). But you have to go into other forums to get your answer.

Remember higher gain at higher risk.

well to answer that question, what EPF rate do you have in mind for the next dividend?

Gen-X BR's profit rate in the 1st post is no longer valid. It has revised down the rate...again

BR 12 months at 3.9%. Would have to go for 24 months 4.1% more attractive to me.

Bro, you are welcome.

And FYI, The images in PBB websites are in parts, therefore the link you copied and posted above does not reflect the entire ad and most would not understand what it's all about.

Noted and thanks. Updated Post#1 and also my Fixed Deposit Page.

Nope, not there. U can click the link n see it for yourself.
If you r still single, forget about epf. Epf is like one way street till age 55.
You need more cash for your housing, children education etc before 55 years old.

guys...

3.2% one month tenure vs 3.6% 12 months tenure ...which wan better if take into account compounding interest? cheers