got any link to HSBC offering 5% for 3 months time deposit?

after the 3 months offer, then take out put in others

Yes, confirmed.

Depends on the bank, have to read it's product disclosure. For example, if you close 360 OCBC SA within 3 months, penalty is RM20.

Open a hsbc advance. 1st time fd for joining as hsbc advance is 5% fd promo max 30k for 3 mth.

For my case since I'm taking up the 20% on the 3rd option of 4.3% pa rate, effective rate can only be calculated for only 3 months, then the funds will split into 2, 80% will remain to enjoy interest rate of 4.6 pa for the remaining 12 months and the other 20% of the fund I will take out and put into other FD.

My simple calculation for the 3 month effective rate would be as follows:-

Taking 100k as an example,

20k x 0.043 x 3/12 = RM215
80k x 0.046 x 3/12 = RM920
Total interest for 3 months = RM1135

Per annum interest would be RM1135 x 4 = RM4540.00.
To calculate effective rate, simply divide RM4540 by principal amount of 100k and multiply 100 to get percentage.
Which is effective interest rate of 4.54% pa for 3 months.
Then the 100k funds will split into :-
80k @ 4.6% pa for balance 12 months
20k to invest in other promotional FD.

Hopefully after 3months, there would be some attractive promotional FD rates for me to park the 20% fund.

Just for info, effective rates is calculated based on number of days/total number of days in a year not number of months/12

Found out that HL Mach is running the same promotion. 4.5% for 6 months. Please go to Mach to place your FD and it should be paperless and you can manage it online.

IMHO, HL should convert all branches from conventional to Mach.



This post has been edited by kit2: Dec 20 2015, 11:33 AM


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How many times can we open? Opened and closed one in the middle this year. Still have the token with me.

if mach has the same promo, then can do it online. no need to go to the branch.

This post has been edited by yygo: Dec 20 2015, 11:36 AM

the ad seems to indicate you have to visit Mach branch. however, you can try.

I have put my remaining money in a conventional branch...now thinking if I should terminate and place in Mach.

This post has been edited by kit2: Dec 20 2015, 11:41 AM

ad in newspaper or flyer? can show the flyer? tq.

goto www.machbyhongleongbank.com

ugh, I guess no bah. since they will offer us solutions to financial planning etc which might incur additional costs or not. idk.

tq. old customer should not need to go to the branch. just transfer $$ to the MACH acct and place online fd. my thinking on this.

https://www.machbyhongleongbank.com/mach-promotions/

https://www.machbyhongleongbank.com/assets/...-450-tnc-en.pdf

This post has been edited by yygo: Dec 20 2015, 01:02 PM

Wow. And hong leong did it good again, being the highest online FD offered in malaysia with 4.5% for 6 mths payable monthly interest crediting.

U may re-deposit initial 20k together with int earned with Affin's 12 mths FD @ 3.70% pa

why want to do that? can go for other promo. if not give free moxxx to affin?

In fact, HL was the highest too for conventional (i.e. walk in)

If the initial deposit was RM10k, the 20% is equivalent to RM2k+ ony
Thus, not ez to choose other promos

gud point. but if big amt or can top up, better move to other banks.

But I foresee January they will lose out...
Waiting for new promo from other bank and see..

Since rate hike ad confirm, and it will be gradual... more interesting offer ahead