Bro, you made me panic - thought interest earned from deposit >RM100K for tenures less than 12 months taxable.

After re-reading again and again, yah I also think is interest earned more than RM100K per year only taxable. SO I not in that bracket, hahaha, can go sleep in peace tonight.


Thanks for the above link, FD interest not taxable, better bookmark the link above and if IRB come can proof to them, hahahaha

Bro, 4.2% for 3 months?

This post has been edited by Gen-X: Mar 25 2015, 10:50 PM

Nope .. one year tenure SCB offering 4.5% IINM

i will be super happy if i have savings in FD that can generate 100k interests

You only need around 2.5M to make 100k interest, at 4% p.a

I think previous poster was talking about 100k FD amount, not interest?

Previously interest for FD placed above rm100k was taxable (not rm100k interest). It is now exempted as per the lhdn website.

Yes, you can.
It is not necessary for you to do "'Self Contribution' to your EPF account every year.
You can do "On & Off"..

Update on the SCB interest issue

2 days ago, I called and sent sms to the SCB Service Manager (just found out he is a service manager, not a branch manager as previously mentioned). As usual, no pick-up call and no
reply from him.

So I had to go to the SCB branch and talked to this service manager, he promised would
credit interest; but so far no interest is shown in my saving account. I think I have to
sms him again..

Interest earned from FD no need to pay tax, even the earned interest is few millions..
This is the bigger contribution from Ah Gib Gor..

I would like to share my story re interest on non - working days on RHB FD

My FD due on 22/3 (Sunday)
Withdrew FD on 24/3 as 23/3 was also a holiday.
I asked teller, if they pay interest on 22 -23 .He said Yes, n even gave me the slips that show interest for 2 days at board rate. (Not the FD placement rate) I asked for print out of saving account to show the amount credited. Only 1 lump ..I said it should have 2 items..1 for the completed term and another for the 2 days. He said semua sudah added.

So i went home and did some maths. The 2 days interest was not included.
I went back next day, talked to an officer. From the conversation, The answer was no, the 2 days interest belong to RHB, blah...blah..blah..I got more agitated at every answer she gave to my questions as it proved she had no idea of the concept of time cost of money.

Long story short, I told her to relay what I said about them paying me the interest for 2 days ( which is what many other banks are practising) to their manager (She refuse to let me speak to someone higher up the hierarchy)
In the end, I got back the interest for the 2 days , enough for a decent lunch for hubby n me.

Despite experience of some fellow forumers, I also get the interest for non working days from AM bank.

This post has been edited by ??!!: Mar 26 2015, 12:10 PM

LOL how would i know?? surely the saadiq branch has a T&C - ask them for it. Only then can anyone compare

Good news! Does it mean that interest rates going up OR just a little squeeze in the short dated tenures?

Maybe if we see 12m rates move up to 4.3 / 4.4%, then only can be confident?

good for you for persevering! Can share which RHB & AMbank branches?

thx

To ALL:

My Maybank RM just SMS me and I called her back to confirm - Maybank offering 6 Months Step Up FD with Effective Interest Rate 4.13%. Valid until quota finish. Those interest go check with Maybank. As usual updated my FD Page. Post#1 I will revamp come April Fool's Day which is a working day, hmmmmm

Maybank 6 Months 4.13% is even better than UOB 6 Months 4.05% Special School Promo.

Last year, we will be happy if can get above 4 for 12 months. Nowadays, 6 months FD tenure also can get above 4%.

At this rate, we can expect more banks to offer 3 months FD above 4%.

[/quote]


Called Maybank near my place. Officer dunno anything abt this. Sigh.

Can I invest in FD using foreign currency for example USD?? How it its calculated? Every transaction will be in usd too?

Thanks Mr BoomChaCha. Will continue Self Contribution then

in Johor

Wow, making Captain panic ?

As I said, "Not sure if the below criteria still valid". I searched big G in response to someone asking about FD interest taxable or not and saw the link.

I thought there are people here that may meet the criteria ?



Yes, 2.5M is not that much nowadays. I remember our Young Magician said he hoped to get FD interest more than the 100k for a comfortable retirement.

No, if you read my post carefully and my reply to another forumer, I am referring to FD interest gained >100k per year.

This post has been edited by bbgoat: Mar 26 2015, 07:37 PM

Did the same deposit on same day. Asked the same question but got a different answer. Lenglui (tho' I would have much preferred a leng-chai ) pointed to item ii) under Payment of Interest printed at lower portion of cert.
" Deposits exceeding 12 months- six monthly with the final paymenton maturity date."

Thanks for the info. Was not aware of the proviso of 7 days.... does this mean the 'best' day to make a contribution would be 7(+1 day for buffer ) working day of calendar month?


Thanks GEN for the heads-up. Will enquire again at Mayban. Not too long back, after reading your post on it, enquired at Mayban, they said there's no such product! Again, another case of staff not knowing their product. Haiz...

As it turned out, things worked out better for me as I ended up doing some massaging and placed with CIMB 1 month @ 3.5% and 2 montha @ 3.65%. I am beginning to like my RM

no need put 10% in CASA

Yes, there are FDs denominated in foreign currencies.

This post has been edited by ??!!: Mar 26 2015, 10:29 PM

Just to add, the 10% requirement for SCB is for those matured FD to go into FD promo, then need to do that. Fresh fund no such requirement.

SCB seems no better than AmBank. Went there yesterday to check on my interest & open a 4.5% promo FD.
RM desperate for sales until talked to me for about an hour, wanted to yawn out loud!
After knowing I am persistent on FD, she didn't even bothered to check if my interest was credited.

But seems all my FDs last year was placed on option 3 so I hope I do not have to put up a fight for it.
Today I also heard there is a 10% requirement in savings for 4.5% FD even for fresh funds

Btw, SCB priority banking at uptown only gives instant 3-in-1 coffee / tea but Ambank TTDI has changed to Lavazza