Expected adj 0.25% to 0.5%. Speculating July to Sept for the change. Anyway, that is what is being reported in newspaper.

Just a quick one,

I found that Affin Islamic Term Deposit -i and Mach Hong Leong give 3.6% for 6 months fixed deposit. Both of them give the same rate but Affin need to open a saving/current account while Hong Leong dont need.

Besides that, is there any difference between these two?

Mach 3.6% for 6 months ????? Where did that info come from? Kindly provide link. Thanks !

Opps, sorry typo. 3.25%

Mach quite inconvenient as you have to go to their Mach branches to open account and place the FD online.

Hi all,

I was browsing this webpage from Maybank2u.com:

Home > Customer Service > Accounts & Banking FAQs
Accounts & Banking FAQs > eFixed Deposit FAQs

15. Is the interest earned from eFD taxable?
Yes, as per existing FD Account criteria.


I tried searching the FD Account Criteria but was not able to find any info. May I know:

a) What is the % of tax incurred upon interest earned?
b) Is this applicable to only
i) Maybank's eFD or
ii) to all other banks' eFD or
iii) to all FDs regardless of over-the-counter and online of any banks? I tried searching info from other banks such as Affin, CIMB, but no mention of the tax (unless i overlooked it )

Thank you for your guidance

Should be tiered rate. Last year place FD into Affin bank promo with those stupid CASA thingy and the CASA interest was tiered rate.

As far as I'm concern, if it's individual account, not taxable.
If it's company account, it's taxable when you declare your company income.

Thank you, that's a relief

Also to get banker's cheque after Fd matured, we have to go to HL Bank ?

Actually, I'm also not sure. I think it'll go back into my Mach account. I did create a Mach account, came with ATM card. Then I transfer money into that Mach account to place FD last time. Interest is now credited into that account monthly and I think principal will masuk that account also when due.

Either I go ATM to withdraw, which I doubt I can. Or do online transfer, which also has limit. Or go to Mach outlet when the time comes kua. August got 2 Mach FD due, have to figure it out before then haha. Any others got experience with Mach?

I remember seeing others saying about getting banker's cheque from HL Bank once Mach FD matured. Online xfer has the limitation as you mentioned. Anyway maybe those who have experience on this can confirm.

Mach only has 1 branch in Penang island. I missed out on their promotion and waiting for the right time to open acct there. But they are in Paragon which has lousy parking there !

Ooh. If can get banker's cheque from HL counter then it'll be much easier.

Mach quite convenient from my place, recently found out they open another one in Klang also.
Just open account with them enough edi lor. Everything else place online ma.

Ya, I like to do things online. But if to get bankers cheque from HL Bank, after FD maturity in Mach, without having to go to Mach, then should be OK. Just one trip to HL Bank (instead of Mach & HL Bank).

Unfortunately, Money box account can't perform OTC withdrawal.
I had a few withdrawals done in the past and this is how I withdrew from MACh FD

MACH FD -> Money Box -> CASA by internet transfer (own account no limit) -> Write a chq from current account.

If you don't have a checking current account, savings account also can but need to go to the branch to do OTC withdrawal.

If I don't have any other accounts with HL, even if go to Mach branches also cannot do any OTC withdrawal? Or any GIRO transfer with no limit ones.

I was just informed by my HLB branch that Money box account holder can perform OTC banker's chq withdrawal and OTC GIRO.
Please reconfirm this info with your branch again.

This post has been edited by aeiou228: Jun 30 2014, 03:00 PM

Yes, that is what I said earlier, from what I read before. So to get the banker's cheque, one have to go to HL Bank. But before that, just allow the matured FD to go to money box (Mach account) first ? So no need to go to Mach and then HL Bank ?

Just want to confirm on this. Mach acct slightly more complicated than normal FD acct as it involve Mach and HL Bank on certain transactions.

curious, most FD's T&Cs has a clause stating "..subject to OPR..."

does that mean if OPR increase, the FD's interest will be adjusted too? how does that clause works vs actual OPR change?

Did not ever read FD T & C before. Could it be bank trying to protect itself in case there is a sharp drop of OPR especially for FD of longer terms like 5 years ?