Many commercial banks offer Foreign Currency Deposits. Go to UOB, OCBC, Citibank, CIMB, etc websites to see currency being offered. You will note that the interest rates varies and the one offering higher rate may have higher conversion from RM to currency of interest. For example, OCBC 12 months interest rate for AUD may be lower than RHB BUT RHB conversion rate may be higher.

True, the best for commercial banks 3, 6 and 9 months interest rates. However, the second and final 3 months interest rates quoted are not guaranteed (can go up which everybody will love and may go down). For 3 months yes we definitely will get 3.88%


Latest on FD Promos, for more FD Promos please visit My Fixed Deposit Page at my blog.

HLB offering 4.15% and 3.8% for 12 months and 6 months FD respectively. Minimum Fresh Fund RM50. Valid until end of Jan 2015.

UOB 4.2% 12 months extended again. Not surprising since OCBC offering the same. These two banks kind of compete for the same customers who wants their money being parked among the safest banks on earth.

This post has been edited by Gen-X: Jan 13 2015, 03:32 PM

hahaha, RM50 no way can be eligible for any FD placement.

As for UOB, you still want to go and deposit with them after you last experience

So go ask lah, hahaha. Same lah like OCBC, UOB match until end of month (as it is right now but UOB can change their rate weekly and may even increase).

This Friday UOB launching an investment product betting on FOREX and my RM mentioned 8% returns and I say not interested, haha.

Bro, it's time of the year again where we get a side benefit from depositing with so many banks I just got my first Ang Pow for 2015 - click here to my Facebook Page to see Maybank's Ang Pow for 2015. You don't need to friend me to see my posts at facebook

This post has been edited by Gen-X: Jan 14 2015, 02:08 PM

Yah, beats me how HLB works out the effective interest rate. I guess what you can do is for the remaining last 2 months (for the 20%) just use their board rates and see what you get and I don't think you will get close to 4%

Well, like I reported earlier UOB Christmas Promo extended and they are offering 4.2% 12 Months too but min RM50K and not RM50 I mentioned earlier, hahaha

To ALL:

Once again, check my Fixed Deposit Page for latest FD Promo.

Reason why I have been checking bank's latest FD rates recently is because I have funds due next week and so have updating my FD Page whenever I have new info.

This post has been edited by Gen-X: Jan 16 2015, 09:15 AM

Yes Bro, OCBC also 4.2% where I posted last weekend and gsc reconfirm earlier this week. But I did not know minimum RM5K only!!! I thought it would be at least RM10K. Boy, it does sound like OCBC is desperate.

And did you know that you can get a Maybank Banker's Cheque from another branch which is not your "main branch". Well, today I went to a MBB branch that I placed a FD with, gave the Cert to the teller and told her I want a Banker's Cheque but she told that the that FD account got no money in it! You see, previously I instructed that upon maturity, the principal and interest are to be credited into my Savings Account with another branch Luckily I did not need to waste time going to the branch where I opened the Savings Account to get the banker's cheque. Click here to my Facebook Page to read more.

P.s. nomen - gave you credit in my Facebook too.

Savings Account generally pays miserable interest rates, something like 0.01%. However they are some Savings Account that pay 2% or more, e.g. Kids Savings Accounts, OCBC Smart Savers with conditions, HLB Premier SA (this is useless, better put in 1 month FD with other banks and combine it with Savings Account that pay 2%), M2U Online SA. So, if you do not need to use the money, go deposit in FD for 1 month (or more) to earn better interest rates.

Bro, thanks for visiting my Facebook. Ya loh, wasted RM5 (50 sen service charge excluded) for nothing because it was debited from SA. But by paying the RM5 tuition fee, I learned that I can go to any MBB branch to get a Banker's Cheque and shared the info with you guys.

Should be today. And to confirm - check if the interest have been credited into your account.

Maybank - one may get the Cert one or day twos later after cheque clearance but the FD date starts from the day one went to deposit FD with the cheque. And it also matures on the date shown in the cert - i.e. you go can withdraw the money.

This post has been edited by Gen-X: Jan 19 2015, 09:42 AM

2 days interest gone for nothing and got to take into considerations when calculating effective interest rate, haha

I just updated Post#1 to include HLB, OCBC and UOB 12 months FD Promo valid until end 31 January 2015. Once gain, nomen reported OCBC 4.2% 12 Months minimum fresh fund only RM5K!!!

Also, I just posted my article titeld My Credit Cards and Bragging Rights 2015. In this article I once again showed how I recycle my funds to qualify for Premier/Priority/Privilege Banking status, benefits of having PB status and what banks you should avoid.

Bro, I just came back. To add to above, nowadays have to add another RM0.50 service fee for banker's cheque from any bank. Last time, I got MBB cheque, cost me RM5 plus RM0.50 service fee because the amount was debited from my Savings Account.

UOB used to charge me RM5.15 for a banker;'s cheque, now not sure how much. But some lucky people in Penang were not charge previously with UOB.

OCBC 4.2% offer still valid.

And I got a sms while I was overseas from RHB - "Enjoy 4.2% p.a. on our 12 months FD. For info, please contact your relationship manager. T&C Apply." Most probably I will drop by RHB soon to get CNY Ang Pows from my RM and will update on the offer.

Yesterday I posted I received a SMS from RHB while I was overseas. Today I did drop by RHB to collect some Ang Pows from my RM and also to checked out their FD Promo.

Well, I was informed that the Promos (there are 2 actually, i.e. 6 and 12 months) only for selected Premier Banking customers who received the SMS. However, I did see the Marketing Sheet and it did state Promo rates for NEW Premier Banking Customers too.

So if you have RHB Premier Banking or want to sign up for it and then be eligible for their FREE FOR LIFE Platinum credit cards without needing to maintain minimum AUM, click here to my Fixed Deposit Page to read more about the RHB Promos.

P.S. RHB Ang Pows really nice and can be used for any occasions. Will post them next week together with other banks' Ang Pau for 2015 after I get Maybank Private Banking Ang Pows.

This post has been edited by Gen-X: Feb 5 2015, 05:31 PM

If you are a US citizen, most banks do not want your business as more paper work for them, haha

Most Banks Senior FD pays interest monthly. If you have a child. then you may want to consider Hong Leong Bank currently having Junior FD Promo at 4.28% but for 24 months.

Click here to read my article title The Best Savings Accounts in Malaysia where I touched on HLB Junior FD. Also click here to my FD Page where I would comment on HLB Junior FD when they have a promo.

I posted Maybank's Ang Pow at my Facebook Page back in 14 January 2015

However, I only collected Maybank Premier Wealth Banking Ang Pow on 9th Febraury 2015.

As for RHB, I got them early last week after I returned from Melbourne.

Yes, I agree RHB Ang Pow really nice and can be used for any occasion. Click the link below to see my Ang Pow collection which includes RHB Premier Banking. Alliance Bank cute and appropriate for young kids.

As for the CIMB kind of white packet (light pinkish but it can be also off white) you posted, don't they know white packet are used for funerals!!!



Click here to see the 2015 Ang Pows I collected from Alliance Bank (Privilege Banking too), CitiGold, Hong Leong Bank (Priority Banking too), Maybank (Premier Wealth Banking too), OCBC, RHB (Premier Banking too) and UOB (Privilege Banking too).

This post has been edited by Gen-X: Feb 11 2015, 03:40 AM

Bro, the AMBank Ang Pow you posted above is not too bad.

I just got OCBC Premier Banking from my RM's Boss, i.e. Area Manager, as my RM once again not around. So updated my article on Chinese New Year 2015 Red Packets to include the OCBC Premier Banking Ang Pow and I can't conclude if the design looks like a chicken or goat, hahaha

Also just updated Post#1 and my Fixed Deposit Promotion Page.

This post has been edited by Gen-X: Feb 11 2015, 01:17 PM

As with any FD, one can withdraw the FD anytime but there will be a penalty - i.e. no interest (some FD Promo do not pay interest if withdraw before 3 months) or lower interest rate.

To ALL:

Early this month while I was in Melbourne, my wife got a letter from Bankwest informing their new T&C for Term Deposit. It stated that she has to give 1 month notice if she wants to withdraw her Term Deposit! And so happened at the same time her Bankwest TD (promo 7 Months at 3.8%) matured and was auto renewed at board rate below 3% (she returned to Melbourne two days after the maturity date). So we went to Bankwest branch the day she flew back (I was there 2 days earlier) and guess what, she could withdraw the renewed TD on the spot (no need to give 1 month notice) and could use the same fund to be eligible for Bankwest 6 months TD promo at 3.5%. But she decided against going with the TD Promo but instead transferred the fund into her HERO Savings Account which is paying 4% interest credited monthly. If you want to know more about Australia Savings and Term Deposit, click here to my article The Best Savings Account in Australia.

As for me, I have CitiGold Australia, my RM will call me and ask for my instructions when any of my Term Deposit matures; and as such, I can be anywhere on earth on the day my TDs mature

This post has been edited by Gen-X: Feb 11 2015, 02:23 PM

Bro, the T&C states new to bank - are you existing customer?

You got a point there, rest of the world interest rate going down, we on the other hand going up

Bro, RM strengthen against AUD 2 weeks ago and for the first time in the last 3 years I managed to get AUD/MYR below 2.8 and that was TT rate Money changer all still above 2.8 because their stock cost high.

This post has been edited by Gen-X: Feb 14 2015, 08:52 PM

SGD and AUD almost dollar for dollar.....

As for should you hold on to USD, I don't know because if you see previous charts, it goes up and down. As for SGD, aeiou228 pointed before, it's on the uptrend like forever, hahaha

As for AUD, as far as I know, RBA still wants it to go lower. In 2008 AUD/USD went as low as 0.65 and AUD/MYR 2.2. But I not so greedy, when reach AUD/MYR 2.5 or below (TT rate) I will transfer my funds and go buy a property (it's like I'll be getting 30% discount from AUD/MYR at 3.3 in 2012 to 1st quarter 2013).

And talking about inflation, because of the high USD relatively to RM, we can expect imported goods prices to increase... e.g. new cars.

Bro I know what investment is fool proof... Rolex watches, hahaha

Above may be OT to some, but if RM weakens further... we all will be wishing we have converted our RM to USD or SGD

Many expected interest rates to go up in USD months ago, however last quarter data US economy not so good. Malaysia on the other hand reported better growth than most economist predicted.

Previously I mentioned to you guys about Maybank Q Cash if you need to park your funds for short period, i.e. days not months.

I have a huge outstanding credit card bill due end of next month, So thought I use some of the standby funds for the CC bill by trying out MBB Q-Cash instead of going with 1 month FD.

Here's what I found out:

1. "Interest" for Q cash will only be paid for working days.

2. If you "order" the Q-Cash before 10am, interest will be paid for that day too.

3. If you want to withdraw from Q Cash, you have to instruct before 10am so that the money will be credited into you account after 3pm. And best of all, you also get "interest" for that day too!

Now, 19 and 20 Feb are public holidays. So I'll not be paid any interest. So this is what I did:

Order Q-Cash today 16/2 and have it to be withdrawn on 18/2. -Therefore I should get 3 days "interest".

The money will be credited into my M2U Savers Account on 18/2 and on 23/2 to be withdrawn again to place another order for Q Cash, this time for 30 days (I want to see how much interest from 1-Cash versus 1 month FD). So I will get 5 days interest up to 2.45% p.a. from my M2U Savers Account. Click here to my article The Best Savings Accounts in Malaysia to learn more about Maybank2U Savers and i-Savers Account which pays you reasonable interest rates compared to other savings account.

FYI, minimum "deposit" for Q-Cash RM50K. However, My RM inform me if place RM250K with Q-Cash, the "interest" better. For more details you got to go find out yourself. And to maximize the returns from Q-Cash - better to wait after MBB to declare "extra" income distribution - once again you got to go find out about this. I can only tell you more end of next month.

And I'll be flying off soon. So I take this opportunity to wish all who are celebrating CNY - Happy Chinese New Year AND and may all of us (including those not celebrating CNY) - HUAT AH!

P.s. Click here to see the Chinese New Year Red Packets I collected from the banks.

OT - And for those who have Maybank Credit Cards and Alliance Bank Platinum Credit Cards -
click here to my facebook page for some very important announcement. You don't need to friend me to read my posts at facebook. And once again, I reiterated why you should sign up for Alliance Privilege Banking if you are using a Visa or MasterCard.

This post has been edited by Gen-X: Feb 16 2015, 02:18 PM

Hi guys, I am back in KL and as usual the first thing I do is update my Fixed Deposit Page. I am happy to note that many banks are still offering interest rates above 4% for their 12 Months FD and UOB 12 months FD Promo rate is even better than last month.

Click here to my Fixed Deposit Page to see current FD Promos.

Like I said above, UOB is now offering better interest rate for their 6 and 12 months FD Promo compared to their Christmas and CNY FD Promos; but, this higher interest rates are scheduled to be expired on 21 March 2015.

Also Maybank latest Step Up 12 Months nFD is scheduled to end on 25 March 2015.

Bro, thank you, I did state SCB 4.5% for 12 months in my blog sub-title but the image posted did state 4.5% for 15 months, haha. That SCB Saadiq promo suppose to run until end April, but like bbgoat said, not sure if offer still valid today so I have removed it from my blog.

Wow, at first I thought UOB got new promo 4.25% for 6 months but you later clarified it was a typo because you did too many FD placements, hahaha.

Yah, SCB got 9 and 15 months Promo until end of March - Ad in the The Star today.