from T&Cs:


promo ended 27 Nov, final 28th day would be on 25 Dec. possibly we can expect the sterilizer by month end?

it seems like Affin FD is not that famous and seldom people here put into it?

i m so confused.

I dont know which one to choose.

all i know my housing loan is 4.9%.

Didn't you realize that you just gave yourself a clear answer to your confusion ?

No need to bother about FD, just dump all your money to your housing loan account and earn or rather, save 4.90%. Btw, make sure your housing loan is flexi loan before you dump in money.

Affin is "famous" for having a high board rate with PIDM. Also recently around Aug, I also placed FD there for their 15 mth promo. Some posts back, Affin was also mentioned.

less famous mean less people in the bank thus faster can do banking stuff

Too bad that Affin does not allow online FD.

Do you have iRakyat online account?
You can see transactions in iRakyat includes the monthly interest payments.

My FD matured on Saturday, BR put the maturity date on the next following Monday.
I noticed BR paid 2 days interest (I think for Sunday and Monday) to my iRakyat account.

UOB told me they do not pay interest for last day of FD, because they are aware that we will withdraw the FD so no
interest for last day of FD. Is UOB doing it right?

Oh....You didn't check here before you go to place FD with Am Bank..?
BartS already mentioned about UOB 4.2% for 1 year on 5 Dec wor...

Never mind lah, rice has cooked.. let it be lah... Anyway UOB does not pay last day interest..
You can get monthly interest from your Am Bank FD if you joint name with your parents

That's why I ask plumberly for the link to the regulations I dunno if right or not based on "BNM regulations"

But let's look at it logically ... say I go to bank say on 2/1/14 & place 3 mth FD ... they will say start 2/1/14 (thurs) & matang 2/4/14 (wed). Then on 2/4/14 I take out with BCheq & walk over to another bank to place for another 3 mths ... start 2/4/14 end 2/7/14.

Fortunately for me so far never come across bank that delay start date to day cheq clear lah.

So, I think it's ok that 1st bank pay me 2/1 to 1/4 dates inclusive... because 2nd bank also pay me 2/4 to 1/7 dates inclusive.

Does that make sense? Anyway, I always calculate in excel to check

The cheque is from different bank? With this method all banks considered this as fresh fund.

I want to ask about FD that credits interest to a saving account monthly. A good example is Mach FD.

1) If I transfer the credited interest to other bank or withdraw it (without touching FD principal), is it okay to do that? This action of withdrawing interest will not be considered as 'early uplift of FD', right?

2) Assume that I have RM 1000 in 1-year tenure FD with 4% interest. After the first month, I transfer the monthly credit of RM 3.33 to other bank. Just before the second month, I uplift the RM 1000 FD. As such, the principal I am getting back is (RM 1000 - RM 3.33) = RM 996.67, right? I believe that the bank will deduct the interest.

That should not be other penalty fee, right?

Thanks for the advice, FD experts.

This post has been edited by kart: Dec 10 2014, 06:38 AM

Do you have Hong Leong saving account with ATM card? If yes, you can choose not to have another card, namely Mach debit card with RM 8 annual fee.

Bring your IC to Mach branch (not allowed in Hong Leong branch). Open a Mach money box saving account, with minimum deposit of RM 50.

Then, use the computer in Mach branch, to place RM 1000 in Mach FD. It is recommended to split your cash into RM 1000 placement, in 1-year tenure with 4% interest.

In Hong Leong Connect, you should be able to view Mach money box and Mach FD.

After a few days, you can withdraw RM 30 in Mach money box saving account, leaving RM 20.

Get more information in Mach website.

Hope this helps.

This post has been edited by kart: Dec 10 2014, 06:47 AM

BR paying the 2 days interest is correct. I don't get ur point on interest for last day of FD for UOB. The last day or maturity day's interest is calculated in when FD is placed. For 1 yr it is 365 days. So on maturity day they won't give you any add'l day interest. BR also the same. Maybe I miss out something ?

Sure, it is from another bank.

There are reports of people withdrawing cash from one counter and place into another counter for FD. Or come back after lunch to place the withdrawed cash as new FD.

no, i going to do all new fresh..
so i should open hl sav acc, take the hl atm card, apply to open money box ?
kenot use other computer to place money in mach FD? if i put over 1k also can rite?

this mach make me bit confuse with added money saving box..

so the money should go like this..

3rd party i IBG > to HL bank, then use HLB > money deposit box.. then >> mach FD ?
when mach FD maturity.. money go back to money deposit box and i need use money deposit box transfer back to HLB?

Yes I did that because at that time I did not plan to place back the FD and dont have a personal cheque book with me. But after a long lunch with friend, I give it a try with another counter and it was considered as fresh fund.

Nowadays I am using IBG and personal bank combination to meet the fresh fund requirement. Surprisingly that day Public bank allowed the existing saving account money as fresh fund for FD placement

a lot of banks having better rates now, BR dont have new rates yet?

Thanks for the different perspective on early maturity and the compounded interest effect. However, i have made the following near apple to apple comparison on RHB 9 months x 2 and UOB 18 months.

Assumption
RHB 4.15% for 9 months and UOB 4.2% for 12 months still available when both FD placements are matured.

RHB
50,000 Principal and 4.15% interest for 9 month. Upon maturity interest earned is 1556
2nd 9 months placement with 51556 as principal, upon maturity interest earned is 1605.
Total interest earned for 9 x2 months placement is 3160.

UOB
50,000 Principal and 4.2% interest for 12 months. interest earned is 2100
52100 as principal and placed for 12 months, interest earned for 6 months is 1094.
Total interest earned for 12 + 6 months is 3194 which is 34 more than that of RHB.

Alternatively any bank offers 4.07% interest for 6 months after 1 year maturity will be earning the same interest as RHB 9 months x 2

This post has been edited by gsc: Dec 10 2014, 12:27 PM

need to check with you guys here.

my mum and i just opened a fd acc in kuantan rhb, can i do another fd placement with the same bank in melaca rhb without my mum present?

This post has been edited by vincentwmh: Dec 10 2014, 12:41 PM

Can for either to sign FD, only issue is the CASA form must be presigned by both parties.

magika, thank for reply.

1st part - either to sign. i understand.

2nd part - CASA form, is this CASA form required of each new placement or a one-time signed form?