Did anyone place joint FD with 3 names b4?

This post has been edited by wil-i-am: Nov 24 2015, 08:03 PM

Haha dun laff at me.. later my dream come thru, i will laff very loud one.

Last month i expect 4.5% ay 2016, but it happened in November. Somemore since affin can offer 4.6%, i guess 5% at 2016 is not a dream to far away.

Scb go n offer me Call on cash for 3.88%... haha, although amount small, i am gonna go and put FD for that.. earn some fun money.. haha

i think it depends on several factors. inflation, economic growth etc. 5% fd rate means loan rate will also be high!

lets say min. fund for fd is 10k but u have 50k, will u guys split into 5xfd or just 1xfd?

5x10k. Just in case you need to use part of the money, only part of it is affected instead of 50k

10k, 20k 20k. reduce the cert. if need 10k, terminate 1 cert. 20k, 1 cert. if need 30k, 2 cert.

If u are going to fd like alliance bank which need 25k in 1 placement, then have to follow.. if the bank says 10k to enjoy promo, then usually split it to the max for better control..
Just for my case la..

Last Monday was in Ocbc and asked the counter girl (desert??) on eFD. She knew nothing about it. Went to Captain blog, it seems not mentioned. Anyone care to share the link? Tq

If I am to make a FD placement by issuing a personal cheque, do I need to add MYR0.53 cheque processing fee on top of the principal amount as the cheque amount, or the bank to absorb the said fee ? Or I pay the fee in cash to the counter ?

Bank will deduct RM0.53 from your account

your bank will deduct from your ca. you are the one paying 0.53.

How do you find the dessert, still not up to your standard ?

Do you mean placing efd online ? For OCBC online I think it is under the right hand side "Open New Account", then "Place New FD". The wording may not be exact but it is on the menu on the most right hand side, I think.

Help needed .......

Can someone help to explain on Banks that do not pay interest for non-working days.

Non-working days refer to public holiday or weekends?

Thank you

All banks pay on non-working days. Its maturity date on non-working days that is the issue. Nowadays FD maturity date has choice of crediting to CASA or rollover. Rollover instructions, why should bank pay for non-working days ? Previously most banks pay on maturity for non-working days.

Ah SiAnG to avoid confusion to newcomers to this thread, which has happened several times, it is better to make the below headline clearer:

Banks that do not pay interest for non-working days

suggest to add: (after FD maturity date eg Sat/Sunday, public holidays)

You have been hiding somewhere doing BIG magics !

This post has been edited by bbgoat: Nov 25 2015, 10:47 AM

google found this -

Is the interest on the fixed deposit taxable?
There is no tax on the interest from the Fixed Deposit’s which are placed for under RM 100,000. For this reason the banks will usually split your Fixed Deposit into placements which are individually less than that amount.

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is it correct?

Thank you for the explaination.

Not true. Since some time, years ago, no more tax on FD interest. Nowadays, bank also do not split FD to <100k unless you asked them to do so.

This post has been edited by bbgoat: Nov 25 2015, 01:45 PM

No need to split into few FD certs as FD int earn by individual is tax exempted

This is old school and dinosaur history that no longer exist today.