When HLB 4.5% pa for 6 month promo first start at around mid December 2015, it was reported by forummers here that placement to HLB MACH FD accounts required to be done by cheques and not online. Explaination given by bank staff is because of this "fresh fund" thingly requirement.

Early January, one of the forummer point out that placement via online for HLB MACH FD a/c is available online. Maybe HLB had done away this fresh fund requirement. Or maybe not.

In the placement screen, HLB clearly mention in order to be eligible for the promo 4.5%, the customer total promo FD should not exceed 5M etc. Highlighted in bold and underlined and properly mentioned etc. Somehow, they did not mentioned about the placement need fresh fund along with the 5M restriction in the placement screen.

Noted that there is a T&C on this Mach FD promotion. Thanks for pointing it out.

after 6 mths, how's the fd market become?

better go for 4.3 for 12mths or 4.5 for 6 mths then with uncertainty of 2nd half of 2016?

What he meant is without Mach, your only option is placement at normal Hong Leong bank which requires rm10k fresh fund over the counter.
If you have moneybox with Mach, you can place online which doesn't require rm10k fresh fund. No need to visit the bank. Online placement.

if ppl know the future, there wont be fd topic here.

everyone has different reasons to go for long or short tenure. up to your preference.

how easy to maintain Mach Money box?

if inactive >6mths, any reactivation/penalty fee? i didnt see any reactivation fee in t&c though. i see there's a reactivation button (pre-active) in HL Connect.

for money box feature, which one do u choose? 15 free ibg (rebate) with minimum average monthly balance of RM1,000? or Sky High Savings?

no reactivation fee, bro.

how easy to maintain Mach Money box?

if inactive >6mths, any reactivation/penalty fee? i didnt see any reactivation fee in t&c though. i see there's a reactivation button (pre-active) in HL Connect.

for money box feature, which one do u choose? 15 free ibg (rebate) with minimum average monthly balance of RM1,000? or Sky High Savings?

Only one cert one FD placement. Some banks are statement based. No cert to collect. I peronally prefer statement based coz bank charges for missing cert. Public bank charges RM10. HL staff told me HL bank charges more than RM10. Exact amount not sure. But HL bank Islamc FD is statement based.

You renew upon maturity not monthly. Most people here will not want to renew monthly because the rate will be board rate.

The 6 mths must have activity is tighter than most banks 12 mth for SA. Not sure you read what I have mentioned when Top Flo asked about re-activation of her MACH acct.

I was lucky that after I clicked the reactivation online, then xfer'ed new fund, their CS called me. But Top Flo ended up has to visit the MACH branch to re-activate her acct. No reactivation fee involved.

I never used any of the features of Moneybox. Only one that I used is the placement of an FD last week after 6pm. So it is convenient in a way.

thanks for the insight.

i've got 6 MBB Islamic eFD recurring every 3-months @ 3.30% p.a. Still considering to uplift all eFD in M2U (losing the interests) and transfer to Mach/Money Box for the 4.5% p.a. 

Similiarly, I have 1 HSBC FD reccuring every 3-months @ 3.15% p.a, but if i uplift it, my pledged credit card will be cancelled, and the 9k points indide will get burnt 

Similiarly, I have 1 HSBC FD reccuring every 3-months @ 3.15% p.a, but if i uplift it, my pledged credit card will be cancelled, and the 9k points indide will get burnt 

Oh, oh, you did not pledge using the one Mach FD ?   

I once used CB FD to pledge for OD. Then I realized that I just got the board rate for years and lose out on the interest. Something like RMx00 per year. Also hardly using the OD. So cancelled the OD and moved the FD out to get the promo rates in other banks. 

hey members,

wanna ask a simple and newbie question regarding FD rates :

I'm eyeing on the RHB 3 months 4.5% FD promo,

The min fund required is RM10,000.

Does that mean if I deposit RM10,000 for the RHB FD, after 3 months of maturity, the total amount will be RM10,450 ?

Do correct me if I'm wrong , ty

In the placement screen, HLB clearly mention in order to be eligible for the promo 4.5%, the customer total promo FD should not exceed 5M etc.

For the avoidance of doubt, HLB reserves the right to claw back and deduct an amount from the Eligible Customer’s linked Money Box Deposit Account a sum equivalent to the interest earned on any excess sum of Ringgit Malaysia Five Million (RM5,000,000.00) which has been paid or credited into the Nominated CASA of the Eligible Customer.

Wow so strange that it's per annum basis !

That means the returns are really really low .........

interest rates are quoted on a per annum basis (meaning per year)

so... bank calculates this way... if you place FD today 13th Jan 2016, it will mature 3 months later which is 13th April 2016. so you place the money for 91 days with the bank.

so... the formula is...

91/365*0.042*10000=104.71

that's the interest you get. btw, RHB 3months is 4.2% not 4.5%

Wow so strange that it's per annum basis !

That means the returns are really really low .........

Jeez. It's basic stuff. Everyone knows that. What are you expecting? 4.x%/month? Like that banks will give you >16% p.a    How are they going to survive, make profit from you if they give so high interest?