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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.



*

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
**



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

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

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.

Bro, it is stated in the Ad, Minimum Fresh Fund RM20K and RM40K for Existing Customers and New Customers Respectively.

Updated Post#1 and My Fixed Deposit Page showing the ad where the Fresh Fund amount was stated.

This post has been edited by Gen-X: Apr 15 2014, 02:02 PM

RM5K for monthly interest payment... hmm interesting, anyone can confirm this for tenures 2 months and above?

Thanks for reporting - Post#1 updated.

Thanks for reconfirming. Same as Post No.1. To add, the UOB 13 Months FD Promo no CASA thingy requirement.

Definitely not monthly BUT I would like to know if it is semi-annually or upon maturity. I forgot to ask this when I was informed of the promo last week.

Previously, I copied and shared in the above which was posted by cybpsych at Maybankard 2 Cards Thread as I thought the info would be beneficial to those of us having OD facility. I.e. Withdrawing Bank A FD and then perform IBG transfer to Bank B and then write a cheque at the same time to Bank A to be eligible for FD Promo with Fresh Fund.

And with the short discussion between a few of us, one of us mentioned about performing IBG over the counter. And guess what, I wasted RM2 to try out IBG transfer and I am happy to report that the transfer was credited into the receiving account on the same day

Well, I just published another article with the title A Little Bit Of This and A Little Bit Of That. Actually this is the 4th article with the same title. As usual, I will be covering numerous subjects in my series of articles with the same title A Little Bit Of This and A Little Bit Of That. In this new article, you will learn some new stuff or maybe nothing at all.

So, for those of you who have time to waste and more importantly a kiasu like me, please click the link below to read my article and learn more about what I have to say about IBG Same Day Fund Transfer (plus other stuff that may not interest you).

A Little Bit Of this and A Little Bit Of That - Vol.1, Chapter IV.

Welcome back!

Updated 1st Post


Bro, what I do without you. First time I read was 20/10, then another bro asked about the minimum amount, so I rechecked and read the wrong one!!! You know lah I half blind, hahaha. Luckily I posted the image of the ad which states the above too.

Bro, last time you and I opened Premier Acct, we get 5% interest rate for 3 months with new CASA Accounts including GIA-i "FD".

This time and for the year or so, OCBC NEW Premier Accounts are still entitled to promo 5% or more interest rates BUT with a BIG difference, i.e. they have to purchase Investment Product and/or Insurance.

That is why I never bothered to post about the 5.5% interest rate for NEW Premier Account when I first reported about the OCBC Promos in the previous thread.

Human Nature, BoomChaCha got a point, maybe not good time to sign up for OCBC Premier Banking Status as you may get 5.5% interest rate but subject that you purchase investment/insurance product.

What you can do is go with the OCBC 18 months FD Promo BUT KIV the Premier Status (sign up later when there is a pure FD special rate Promo, which will be months away if any) UNLESS they are offering you FREE gift(s) you can't resist, haha.

This post has been edited by Gen-X: May 1 2014, 01:38 PM

Updated 1st post, more like deleting expired promos. HLB and UOB both have extended last month promos. And new promos to report?

In my Fixed Deposit Page, I posted that UOB is offering 3.6% 12 months FD; BUT you got to go open a eAccount Savings Account (no passbook) where you only start earning meaningful interest rate for deposit above RM15K. And the other condition is the deposit ratio must be 30%:70% and minimum RM50K with eAccount. I guess you regulars here know it's not even worth calculating the effective interest ratewith 30% into eAccount, hahaha.

If you don't need the fund for years to come and for less than 10K, I suggest you go with Affin Bank Board Rate at 3.6% for 12 months tenure which is higher than most straight forward FD Promos (no stupid CASA condition). Come next year, it will be auto renewed at board rate (Affin's board rate has been the highest for the last few years compared to any other commercial bank). You can also look into Bank Rakyat's Islamic Banking Products which are Non PIDM insured where they currently offer higher "profit sharing" rate (please educate yourself difference between Fixed Deposit and Islamic Banking Products).

And to note - most FD promo minimum fresh fund starts at RM10K.

I bet you guys are hoping banks' deposit interest rates will go up with BNM increasing OPR. But I'm going to dash your hopes.... OPR will maintain as it is. And my prediction is based on tomatoes, hahahaha. Price of tomatoes has dropped more than 50% compared to 2 months ago and yet there is no substantial increase in demand.

If you guys had read BNM recent statements for this year, there is no indication interest rates will go higher ... actually in the last MPS (march 2014), "moderate domestic demand" was mentioned twice. And as for CPI, click here to latest report and see the chart and you will note CPI increase last few months are roughly same as in most of 2013. The last time BNM increase OPR was in 2011, see the CPI increase then.

This post has been edited by Gen-X: May 7 2014, 08:24 PM

To BR fans out there, read this. How I wish I can get 30 years interest free loan from utilizing the money you guys deposit at BR

OT...

You guys depositing money in BR should go educate yourself about BR and not just harping on earning high interest rates.

Firstly, did you know that all BR permanent staff are considered Civil Servants under the law? So, of course the government (people in power) can sack anyone in BR.

In previously threads I have touched on BR management and I pointed out to you guys that BR Chairman was an Ex-UMNO Minister and someone said so what? It means BR Chairman Post is a political appointment, which means he has to take instructions from to people who put him there (i.e. UMNO).

However, the news article said sacked but in reality usually these appointments are on contract basis and I guess it was more like his contract not renewed. And of course, don't believe everything you read on the internet as gospel truth including online news portal which are pro or anti BN.

This post has been edited by Gen-X: May 11 2014, 10:44 PM

I'm back!!!

Just updated 1st post for AmBank, HLB, Public Bank and OCBC 18 Months. UOB no change from last month.


OCBC just revised the term and condition of the 18 months Promo.

How come you guys forgot what I posted earlier where I had to waste RM2 for your benefit. Nowadays GIRO funds transfer can be same day and it's really freaking cheap if you have online account where you will be only charged RM0.10 (cheaper than writing a personal cheque)! Over the counter, transfer of funds via GIRO it will cost you RM2.

Once again, for those who missed (or stubborn not wanting to read earlier) my article on GIRO fund transfer, click here to my article A Little Bit Of This and A Little Bit of That Vol.1, Chapter IV and learn what is the cut off time for same day transfer and how much amount you can perform online and over the counter.

Yes, I updated my Fixed Deposit Promotions Page and same time Page#1. So basically you will see the same promos but for those new to OCBC Saving Deals where they offer 4.3% 3 Months FD, I do recommend you read my comments at my blog.

I'm back! But yet to go read any of the previous posts or go find out latest FD rates.

As for housing loans, I guess you guys never read BNM statements or press releases. BNM has said for months that Banks' housing loans rates are irrelevant to BLR, i.e. BLR -2%. That's why they will adopt a new system to be introduced next year, read below link.

http://www.bnm.gov.my/index.php?ch=en_pres...ess_all&ac=2976

Yes, no stupid CASA thingy for UOB new FD Promo.

To All:

I updated my FD Page early this morning to assist you guys in getting the highest interest rates offered by commercial banks in Malaysia. Some of the current promos offered are as follows:

Alliance Bank NEW 6 Months FD Promo

AmBank 15 Months FD Promo until 31 July 2014.

Hong Leong Bank NEW FD Promo until October 2014 and you may win yourself a home BUT it has the stupid CASA requirement.

Maybank Step Up FD Promo until 10 July 2014.

OCBC FD and Savings Deals, valid until 31 July 2014.

UOB NEW Straight Forward 6 and 13 Months FD Promo without the stupid CASA requirement. This new UOB offer is worthwhile checking out. Promo valid until end of August 2014.

Public Bank Islamic Step Up FD Promo, rates revised effective 1 July 2014 and are valid until 30 September 2014.

Click on the link below to my Fixed Deposit Page and start earning yourself more money!

Click here to my Fixed Deposit Page

Will update Post#1 later when I got the time and please also assist me here by stating any FD promos worth mentioning so that I can include in Post#1.

Feeling sick, having the flu so went to bed early and yet to update Post#1.

However, this morning I did receive a message from an "online friend" at my facebook account that HLB Islamic Bank offering some Term Deposit Promo that pays up to 3.8% But when I checked I only found their Junior Term Deposit i promo.

Previously I have mentioned that HLB Junior FD is great because the interest from the FD are credited monthly into a Junior Savings Account that also pays interest (near to 1 month board rate) monthly. And I am pleased to inform you that this is also the case for HLB Islamic Junior Term Deposit i.



Updated above into My Fixed Deposit Page.