i was wondering which of the following option would be better for maybank's fixed deposit since im not sure how their calculation works

a) rm5000 for 1 month @ 3.15% with the interest credited to principal, auto renewal for 6 months

b) rm5000 for 6 months @ 3.25%

I will say, spilt em up
RM 1500- 2months @ 3.15%,
RM 1500- 3months @ 3.2%,
RM 2000-6 months @3.25%.
In case u need to touch yr funds, u will not lose all of the interest.

lets say i wont be using the funds anytime soon. i just wanted to know which of the two options would give more interest.

Bro, Very obvious, 1 month is better.
For a mere 40sen lesser a month, you will get 5 times better liquidity.

However if the deposit amount is RM500,000, then you have to decide whether you want better liquidity or extra RM40 per month.

Oh... So you want to know the effective rate ?

1 month FD is 3.2% effective (up to the 6th month)

owh so its called an effective interest rate! hahaha sorry for my lack of knowledge >.<
i guess option 2 would be still be better in terms of return then

Bro Gen-X, OCBC is also offering 4.2% for 12 Months till end of this month. I can confirm it because I just made a placement yesterday.

The difference is that UOB minimum placement is RM50K whereas OCBC's minimum placement is only RM5K, which
is more feasible for many.

rich man put money into swiss account gotta pay 0.5% more now ... they just "upped" their interest rate on deposits from -0.25% to -0.75%

PS: regarding the 4.09% effective rate claimed and advertised in a recent fd promo, it made me think about ethics of advertising in the financial services industry In the US they have legislation covering this issue, though most cases involve banks' effective lending rates. In bolehland, dunno lar

This post has been edited by okuribito: Jan 16 2015, 05:29 PM

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.

erm, today, out of curiosity i saw my few bank statement and interest they gave on EOY..
seems certain bank gv quite low like less than RM1 even i have over 1k inside.. some other bank give a better rate with almost same balance... last time small open sav acc without see their benefit or compare..

so, went to check for saving account (last time i dint see so much when i study uni, or maybe less noticeable since much transaction during study and ptptn come in and make the interest jump higher)

and i found out something, mbsb account in ringgit plus adv it as 6%, then i go mbsb website only 2.xx . . why so misleading or i interpret it wrongly? lol sorry for out of topic..

This post has been edited by eddie2020: Jan 17 2015, 12:42 AM

Bro, read ur Facebook and you paid RM5.50 for the banker's cheque. For Maybank, if we do banker's cheque from FD, it is FOC. Recently did 2 cheques FOC from FD maturing. But paid RM5 for a banker's cheque from closing of one SA.

So you got FD receipt in 10 minutes from UOB. Yes, I have the same experience with Penang UOB when there is no crowd there.

This post has been edited by bbgoat: Jan 17 2015, 08:50 AM

If my mach hlb fixed deposit is maturing today does that mean I can withdraw it today or tomorrow?

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.

today.. on maturity date.

Can try russian bank.

probably will be
10%
12%
15%

Allright thanks

one question. for OCBC bank.

put FD better or housing loan capital repayment better?

If the housing loan interests is greater than FD one, better go for the repayment.

terima kasih bro

I'm interested in the PBB FD promo. Anyone knows if I issue a personal check for the FD, is the FD effective date applicable on the date I deposit the check or the date when the personal check is cleared? Thanks