Bro, you sure or not that the card will be cancelled if he withdraws the FD after a year or two?

Bro, for those not needing to fly Business Class then I agree it is a "waste" or "lost opportunities" getting the Maybank 2 Cards Premier. Better go get Maybankard 2 Cards and earn up to RM600 guaranteed cash back.

But for frequent flyers who wants to enter Plaza Premium Lounges nationwide, the Maybank VI grants the card holder UNLIMITED entries plus 5 FREE entries to overseas airport lounge . And for those who want to fly Business Class, the Maybank 2 Cards Premier is the best cards to own. For those who spent more than RM50K per year either locally or overseas, by pledging RM30K FD for the Maybank 2 Cards Premier, the card can reward the cardholder more than 10 times the so called "wasted" RM300.

The Maybank 2 Cards Premier, i.e. AMEX Reserve and Visa Infinite has rewarded me and my family members close to RM100K worth of "FREE" Business Class tickets to Europe with MAS.

So, for you guys who DO NOT have a fixed monthly salary totaling RM180K/year (i.e. non-salaryman where income not fixed, e.g. commission based or like running a own business) BUT do spend RM50K or more a year locally or overseas AND want to fly Business Class for "FREE", [YES, RM50K spending with the Maybank 2 Cards Premier can get you a Business Class ticket - one way only to Europe by upgrading Economy ticket OR enough to get you Business Class RETURN ticket to Australia]; then pledging a RM30K FD with Maybank (and losing out a mere RM300 versus FD Promos) is a very good deal.

Many people have mentioned in Maybank 2 Cards Premier Thread that they pledged FD with Maybank just to get the Maybank 2 Cerds Premier.

Click here to my article titled The Best Credit Cards in Malaysia 2015 if you do not have the Maybankard 2 Cards (guaranteed up to RM600 cash back per year for local spending on ESSENTIAL expenses) or Maybank 2 Cards Premier (if you want to fly Business Class). And in this article I will show you that the American Express is accepted for many types of essential expenses.

And since I am talking about flying, and to save you some money, click here to my Facebook Page where I mentioned MAS is having a Post-MATTA FAir Sale now and I also showed that MAS ticket is cheaper than AirAsia!

This post has been edited by Gen-X: Mar 19 2015, 02:45 AM

I was informed that Alliance Bank now again offering 4.2% for 12 months but I did not reconfirm.

Like I have been saying at Post#1 and at my Fixed Deposit Page - always check UOB promos as they revise them on a weekly basis.

Went to UOB to renew children FDs, good news, UOB School Holidays Promo extended until end of month

3 Months 3.95%
6 Months - 4.05%
12 Months - 4.25%

However, since mine is not fresh fund, my RM only offered me their "standard" FD Promo which is scheduled to end this month too:

3 Months - 3.85% NO stupid CASA thingy.
6 Months - 4.0% NO stupid CASA thingy.
12 Months - 4.2% NO stupid CASA thingy.

And since I too lazy to go transfer funds here and there and work for FREE for my children, hahaha, and the amount not really substantial to ask my RM go seek approval from HQ, I renewed the FDs based on above "standard" promo rates.

This post has been edited by Gen-X: Mar 23 2015, 12:14 PM

Previously I posted here in this thread and my Fixed Deposit Page that that Maybank has a short deposit term deposit product called Q-Cash which is a money market product.

Well, I did go try out the Maybank Q-Cash for 7 days and 24 days and posted the "interest rates" I earned in my latest article - click here to read my freaking long article titled A Little Bit Of This and A Little Bit OF That - Volume I, Chapter VIII

In the above said article, I will show you, people who are after FD Promos (where most minimum fresh fund starts at RM10K), are truly blessed as you are richer than more than half of the world's population.

Previously, I also said that Rolex is a fool proof investment, well not really.... my article will show you that a Rolex is as good as gold where you can get good money for it in times of emergency.

However, not everyone read my articles, so for those who don't read my articles, here is the conclusion of the interest I earned with Maybank Q-Cash - about 3% which is below Maybank's eFD 1 Month FD interest rates but higher than most Savings Account if not all.

??!! - if you looking at money market product, check out Maybank Q-Cash, the "interest rate" is not as good as what wodenus mentioned in regards to Fundsupermart's money market account - yield is 3.67% BUT you can get the money on the same day on condition you instruct the Q-Cash to be withdrawn before 10am on the same day.

Borang BE is personal income tax, interest earned from FD is Tax FREE for individuals

hahaha, first part true, second part once you skip the ads by scrolling down it's smooth sailing

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%.

This post has been edited by Gen-X: Mar 25 2015, 04:08 PM

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

Bro, I have published an article to benefit FD Fans (old timers who renew their FD at Board Rates and for newbies like you) - please click here to read my article More Free Money With The Right Fixed Deposit.

And there is nothing to be confused, once you have more than RM500 or RM1K in your savings account, and you do not need to utilize it, go deposit into Fixed Deposit instead of parking it in you savings account which pays you miserable interest rates. And if you want to know which Savings Account pays you the highest interest and their pros and cons - click here and read my article The Best Savings Accounts in Malaysia.

And when we quote 3% or 4% or whatever %, it is per annum.

For example, you deposit RM10K into a 3 Months FD at 4%:

Interest earned = RM10K x 4% x days money in FD/365days.

And of you are thinking of getting a credit card, take my Credit Card Tutorial - it's FREE.

Last but not least, do not ever sign up for any Personal Loans.

This post has been edited by Gen-X: Mar 29 2015, 09:45 PM

Based on your calculations above, the effective interest earned from the above Promo will be slightly more. This is because you can earn interest from the 1st and 2nd 4 Months interest deposited into your savings account (which you can also withdraw and place another FD).

And you are right, like I always mentioned in my FD Page and my articles, always calculate the effective interest for Step Up FD and not be fooled by the huge font. And 99% of the time, you will find step up fd effective interest rate lower compared to straight forward FD Promo.

Yah, PBB does not penalize the depositor if he/she withdraw the money during roll over - this is one of the "advantage" as discussed previously for those who wants 3 months FD tenure (current promo now 1st step up 4 months). BUT one very important T&C one needs to understand about PBB Step UP - the subsequent periods (in this case the 2nd and 3rd 4 Months) interest rates are not guaranteed and may even go down. Therefore I think it is misleading that PBB call their Promo Fixed Deposit when in actual fact it is not fixed but variable interest rates. If one is into pure Fixed Deposit - better just go with UOB 12 months and earn 4.25% (promo until end of the month unless extended again). But then again, PBB call their promo Term Deposit and not Fixed Deposit

This post has been edited by Gen-X: Mar 30 2015, 10:27 AM

I think now the interest rates for AUD should be lower as RBA lowered interest rates in February. I just checked:

PBB, RHB and UOB - AUD 12 mths are 3%, 2.7% and 2% respectively. Nowadays, I can't seem to locate OCBC's page on their products' interest rates.

Well, PBB 3% not too bad for 12 months. If you go check UOB, they offering higher rates for shorter term because it is expected AUD to weaken further.

AUD/MYR Exchange Rate 9.30am 30/3/2015 - UOB, PBB, OCBC and RHB - 2.9002(base), 2.9030 (+0.097%), 2.9075 (+0.25%), and 2.918 (+0.61%) respectively. The diff in exchange rate can be of significant for those who covert RM > AUD > RM.

kmarc - so from the above, you can see that going with a bank that offer higher Interest Rate may not be good as their exchange rate may not be favorable to you.

Since you are wanting to deposit in AUD long term (up to 15 years - wonder if that bank still around, hahaha) - my advise to you (from my personal experience):

1. is go talk to the banks on their requirements and VERY IMPORTANT how much discount they can offer you for FOREX (usually for amount more than RM20K, they can give you better rates).

2. Start monitoring AUD/MYR (Bloomberg is a good place to start MYR/AUD and then go for interactive chart which gives you by the minute, hour, daily and monthly updates and you will then get a feel what DAY of the week and best TIME to exchange AUD with our local banks where they update at least twice a day). For your info, I manage to TT AUD/MYR back in January at 2.79 (with UOB which is the lowest rate I have gotten so far in the last 3 years) - that's 3.49% lower than current conversion rate which is better than any AUD FD rates currently! Point is, convert at low FOREX rate and it will give you more AUD in the long run.

3. Start reading Australia news portal Business Section to get a feel where the exchange rate is heading. Every 2 weeks you will see some comments on statement made by Reserve Bank of Australia (RBA).

This post has been edited by Gen-X: Mar 30 2015, 12:21 PM

Bro, true you can transfer the money in the future without converting to RM.

Since you are new to AUD thingy, like I said, go monitor.... read news about AUD and see charts.

I can't advise you or anyone on Foreign Currency as to me it is gambling. I don't know the future. I am sure you heard many people who bought USD at 3.8 during the late 90s and was kicking themselves for years, now more than 17 years (ignoring the years our RM was pegged), USD/MYR have yet to reach 3.8!!! Well, it may soon, but if the guy had deposited the money in RM in our FD 17 years ago, today he will have more than two times USD!

If you had deposited money into AUD FD last year or two years ago and the money still in AUD today, you'll be kicking yourself because AUD has depreciated more than 10% or even 20%. Like I said, go see interactive chart.... try to get a feel... your objective and mine are the same, to get as much AUD from our RM.

I mentioned this before, AUD/MYR went as low as 2.3 back in 2009, but I not so greedy..... I hoping for 2.5 so that I can convert more RM to AUD and go buy property there and it's like getting 10% discount from today's rate (20% from last year's rate). But if it never reaches 2.5 but go back up to 3.3, then too bad for me, hahaha. Like I said, it's gambling.

And you mentioned JUST IN CASE send your children to Australia, what if you sent them elsewhere? 15 years a long time. Maybe then... SGD/MYR is at 1.0 and AUD/MYR at 1.5, like 40 years ago But if you start depositing now, and AUD/MYR goes up to 5.0, you be called a genius

Having said the above, I guess many people are converting their RM into other currencies .... and there is no right or wrong but matter of timing only. Oh yes, like I mentioned earlier, which bank gives you the best interest rate plus taking into consideration of the "discount" when converting.



This post has been edited by Gen-X: Mar 30 2015, 09:04 PM

Yah, what you said in the first paragraph is a fact and based on current situation, a smart move.

As for retirement? You got Visa to retire there? If no, you better got tons of money for medical bills for your old age. Got few millions of AUD to invest now, you can easily get a VISA with no age limit. But that may change soon, e.g. Canada just stopped their investment Visa and Singapore couple years back.

I tell you, freaking expensive place for a retiree. There, everything goes up on 1st January of every year. They adjust everything based on inflation rate. Today, I just read the Australia government discussing about raising GST again.

Yes, Australia does have several world's top ranked universities, but depending on what degree one graduates with now, finding a job there is not easy for years to come, their unemployment rate is at record high currently. 15 years time maybe boom again and jobs plentiful.

And in my article A Little Bit Of This and A Little Bit Of That - Volume I, Chapter VIII - I mentioned I was lucky, I had no knowledge where USD/MYR was heading when I sent my son to US in 2009 and AUD/MYR too when I decided to sent my daughter to Melbourne 3 years back. Turned out, luck was on my side and I got to save some RM.

YES, FD interest rates better than Savings Account. FREE money you don't want? hahaha.

This post has been edited by Gen-X: Mar 30 2015, 09:20 PM

Bro, your RM avoiding you.... maybe she resigned from SCB already on on leave. Go to the bank and see the Branch Manager and tell him you are pissed off big time Write a formal complain to SCB too and tell them their Premier CS as good as useless. And of course, since many have been "played" out by SCB, time to switch bank

Bro, you want to be a guest columnist at my blog? I would love to published an article on your experience with SCB.

HumanNature - or maybe you would like to be a guest columnist, the way you handled the "forced" deposit into Just One account issue can benefit many others so they are not conned by SCB staff.

This post has been edited by Gen-X: Mar 31 2015, 01:36 PM

Bro, go read what I taught you about interest calculation earlier in my post replying to yours, waste my time giving you sample calculation if you don't read carefully.

After 6 months you get RM1K + (x.xx% x 0.5).

This post has been edited by Gen-X: Mar 31 2015, 01:40 PM

Human Nature, Bro below are your comments or someone else? I know it is yours but just wanna triple confirm. If yours, I am using it for my blog since you already gave me copyright to all your posts here p.s. thanks, but watch not mine but son's.

gchowyh, thanks for giving the copyrights too. I'll wait for your story outcome and see how best to compile your comments. Bro, write to BNM like Human Nature and ask for compensation and SCB called him immediately. Somemore, Human Nature taught us the art of nego, keep last bullet (i.e. your hourly rate) if they try to play hard ball.


Just go try 2 months eFD and see for yourself.

This post has been edited by Gen-X: Mar 31 2015, 08:58 PM

BoomChaCha and bbgoat

I checked yesterday while updating my Fixed Deposit Page at my blog, OCBC website stated Fresh Fund Deal Effective 1st April:

6 Months - 3.8%
12 Months - 4%

Can refer link cybpsych provided above to OCBC website for T&C.

To ALL:

HLB Live Chat pretty cool, can ask them what FD promo they have. Was told none. Then asked about Islamic which BoomChaCha reported they have extended. And then only was informed they have 4% for 6 Months TD-i only, i.e. no more 12 or 13 months promo.

Luckily I did not go for the SCB Promo, else I will be pissed off big time. Service bad is one thing and maybe expected as SCB has many customers. But being conned (like being lied about needing to open Just One Account) and "cheated" (interest not paid) is another thing. For those who have several hundred thousands to deposit PLUS got the time to go waste at SCB to get things sorted out, maybe the extra 0.25% is worthwhile and get some thrill in the same time. But for most people, the last thing they expect is that the bank to con them and can't give them a straight forward answer.

Bro, your case is the worst, besides not getting the interest, your RM refused to answer and return your calls. And when you complain to CS, she calls you immediately and turn the entire episode in such a way that it's not her fault but you cannot wait for an answer, hahahaha. This RM of yours one day sure will be appointed as a Director of SCB with her excellent Tai Chi skills

Where can compare SCB to UOB. UOB is a class above.

UOB service is the best. Freshly brewed coffee and biscuits served by tea-lady and bought to you wherever you are. As some of you are aware, my daily attire is like a VCD seller, wear t-shirt with jeans with sling bag and slippers. Last week while I was about to enter my UOB branch, the security guard actually opened the door for me to enter! I tell you, it's not part of his scope of works that's for sure and it was the first time I saw him.

The moment I walk into the UOB PB centre, someone is sure to ask me how they can be of assistance. SCB, you enter the PB Centre, stand there 1 hour also nobody cares, hahaha.

SCB, you got RM1M to deposit and ask them for special rate (when there is no promo) also not bothered to entertain you.

Being a "Singapore" Bank, UOB is kiasu to the max and as such everything is well planned and executed to the dot. The moment you place a FD with UOB, their system immediately works out when and how much interest is due to you. If you got many FD with them, ask them to print all your FD details, and you will get a statement showing all your FDs with the relevant information, i.e. tenure, interest rate, maturity date (public holiday, Saturdays and Sundays all taken into account) and the amount of interest to be paid.

And I tell you, UOB's communication between their RMs and HQ (Bosses) is really fast. You request for something, within less than an hour sure you get a response - yes, no or counter offer by HQ (well at least from my experience).

To ALL:

I updated my Fixed Deposit Page to include Maybank Fixed Deposit Promos. They have 3 promos until quota reached.

3 Months - 3.88%

Step Up 4+4 - Effective Interest Rate 4.13%

Step Up 6+6 - Effective Interest Rate 4.1%

Now, just in case you guys did not know, some Step Up FD will offer subsequent roll over where the new principal = "previous principal + interest". Nowadays, the banks getting smarter and paying you less by crediting the interest into savings account where you are paid miserable interest rate and only roll over the original Principal sum.

And if you free, check out my Facebook Page (you don't need FB account) to read my short comments on current FD Promos.


kmarc and AVFAN - AUD/MYR went below 2.8 yesterday and getting nearer to 5 year low (2.72). If go below 2.72, then it is getting nearer to my target of 2.5, but then maybe I will turn extremely greedy and hope for 2.3, hahaha.

This post has been edited by Gen-X: Apr 3 2015, 06:49 PM

Bro, next time your UOB RM ask you buy UT, tell her you want them to sent limo to pick you up

As for leng lui at OCBC, what is the use? You only attracted to high interest rates FD Promos (e.g. BR) to earn more money for relaxation with China Do.., oops almost pecah lubang

Bro, you many class above me, wear suit, tie and shoes, sure people hormat. Me wear slippers and dressed like VCD seller, so when people give respect I will be in shocked!

Bro, I don't buy AUD for Foreign Fund FD with our local banks. If reach my target, I just buy Bank Draft or TT and go deposit in Australia Bank accounts for my children's expenses.

For example last week (or was it early this week?), when I replied you, AUD/MYR was 2.90 for UOB. Today UOB AUD/MYR rate 2.8254. That's 2.5% cheaper!!!

Imagine if you had deposited with UOB that day where I mentioned they offering 2% for 12 months. Heck, today you go deposit the same Foreign Currency FD, you will get 2.5% more AUD in the Account - in only a weeks time (which is better than 2% for 12 months FD).

Like I said, better you go start monitoring AUD, read the news and get a feel of the trend. Because if AUD really drop to 2.3, the window you have to acquire it at record low is small and would shoot back up almost immediately.

Here is another example, I placed a 12 months FD with UOB at 4% 2 months ago (assuming back then AUD/MYR 2.90). But if AUD falls to 2.70, I might even consider TT to Australia and burn the interest for the 2 months.... because from 2.90 to 2.70, that's 6.8% drop, in other words I get 6.8% more AUD than what I could have gotten 2 months ago. But that's just an example because my target is 2.5% (AUD/MYR 2.9 to 2.5 is drop of 13.79%!!! - that's like having FD locked for 3 years to earn similar interest).

Above is just me, your needs (saving for future) and mine (spending away my money now, hahaha) are different. Yours is long term, and like you said you don't really care about fluctuation and hopefully in the long run it averages out to be favorable to you.

This post has been edited by Gen-X: Apr 3 2015, 09:10 PM

Please read post#2, BoomChaCha has wasted hundred of hours updating very frequent since 1st January 2015.

hahahaha. you should see me squatting down smoking by the 7ft walkway in town... you will say that I look like a drug addict. Bro, Ah Long got more class than me, they wears shoes whereas I wear slippers

That's a pretty good rate for 3 months.

To ALL: OCBC will be imposing a fee on their Premier Banking Customers if their AUM falls below RM300K. WTF, what service they provide to justify the "fee". Anyway, I have no money now with OCBC, so I guess I don't need the Premier Banking status, actually I have closed my CASA accounts with them so I don't get any paper statements to file up, haha

Bro, for Islamic Banking products, they cannot guarantee fixed interest rate but profit sharing and that is why they are not called Fixed Deposit. Some call them Term Deposit and many "Commodity" + something else.

hahaha, first time I hear cannot mix cash and cheque. Now I know.