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Fixed Deposit Rates in Malaysia V7, Please Read Post# 1 & 2
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geniuz
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 Sep 7 2014, 12:50 PM
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Guys need some light here...
Referred to Maybank FD rates, effective is 3.85%, where the promotion rate for 12 months is up to 6%. So how they calculate it? Let say I deposit 10k for 3 months....
Actually I still blind with FD running process and interest earned... Hope sifus out there can enlightenment me. Thanks
Another question, how to eligible to earn 6% for maybank FD? Thanks
This post has been edited by geniuz: Sep 7 2014, 01:03 PM
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geniuz
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Sep 8 2014, 05:28 PM
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QUOTE(wil-i-am @ Sep 7 2014, 05:05 PM) Principal Rate Int (pa) Int Rec'd 10,000.00 3.30% 330.00 82.50 10,000.00 3.50% 350.00 87.50 10,000.00 3.70% 370.00 123.33 10,000.00 5.00% 500.00 41.67 10,000.00 6.00% 600.00 50.00 385.00 First row... At rate 3.30%... So i get 330 or 82.50? How u calculate to get 82.50? |
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geniuz
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Sep 8 2014, 10:23 PM
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QUOTE(wil-i-am @ Sep 8 2014, 05:37 PM) U get 82.50 which is 1st 3 mths int How do i eligible to entitle for 6% rate? |
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geniuz
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Sep 9 2014, 12:41 PM
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QUOTE(munkeyflo @ Sep 9 2014, 10:35 AM) 6% is only for one month. I dunno how they market that promo but most of this "Step Up FDs" will say that you can get UP TO highest % p.a. to trick people into thinking theirs is the best. It comes with Terms and Conditions and the T&C for this is that you will have to lock up your funds for 12 months. It will be given the interest rate as stated and only the last month will be entitled to 6%. After you complete the 12 months, the average interest rate you will be getting is 3.85%. So that mean if i deposit 10k and let it running to complete 12 months than i end up getting fully paid of 3.85% rate which is rm385 right? So when the 6% rate come in action?? |
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geniuz
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Sep 9 2014, 09:33 PM
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QUOTE(munkeyflo @ Sep 9 2014, 12:54 PM) Yes, you will get average rate of 3.85%. The 6% is for the 12th month of that 12 months. Only that month you get 6% per annum. Meaning from month 1 to month 12, i will get 6% rate at month 12 right? Together with 3.85%? I still dont get it  |
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