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 Fixed Deposit Rates In Malaysia V. No.12, Strictly for FD Discussion Only

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Ramjade
post Feb 23 2016, 02:13 PM

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QUOTE(ZeaXG @ Feb 23 2016, 01:56 PM)
Anyone noticed CIMB now have no promo for FD? How will they survive oh?
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People fail to settle their credit card bill on time, people take personal loan to go shopping, vacation. People taking 10 years to pay car loan for a BMW that they have no money to pay. One unsettled credit card bill bring in interest of min 10%. The longer you stretch the car loan, the more interest you pay. All those people don't know that free SA exist, pays the bank free rm8 48/year. Those people who park their money in board rates FD to get priority status. Banks earn at least 0.5% interest from them (banks can pay promo rates but instead they give board rated). So no FD promo? No problem! Lots of people willing to give free money to the banks.

Of course banks need to balance their cash reserves with the money loaned out. FD is not the only way banks earned money.

Besides they already have promo last year. Will be a while until they will come out with another promo.

This post has been edited by Ramjade: Feb 23 2016, 02:22 PM
cklimm
post Feb 23 2016, 03:36 PM

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QUOTE(Ramjade @ Feb 23 2016, 02:13 PM)
People fail to settle their credit card bill on time, people take personal loan to go shopping, vacation. People taking 10 years to pay car loan for a BMW that they have no money to pay. One unsettled credit card bill bring in interest of min 10%. The longer you stretch the car loan, the more interest you pay. All those people don't know that free SA exist, pays the bank free rm8 48/year. Those people who park their money in board rates FD to get priority status. Banks earn at least 0.5% interest from them (banks can pay promo rates but instead they give board rated). So no FD promo? No problem! Lots of people willing to give free money to the banks.

Of course banks need to balance their cash reserves with the money loaned out. FD is not the only way banks earned money.

Besides they already have promo last year. Will be a while until they will come out with another promo.
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that sums up how banks make money, not to mention commisions for selling unit trusts, insurance...
bbgoat
post Feb 23 2016, 06:03 PM

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Received Condotti 20" trolley bag from AmBank for FD placement on Nov 2015:

rclxms.gif rclxms.gif


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guy3288
post Feb 23 2016, 10:18 PM

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QUOTE(gchowyh @ Feb 22 2016, 05:09 PM)
Bro,

BR 4.55% for 24 months is just a promo rate so you can still opt for the monthly interest.
I already did for 2 of my BR FD renewals. Tip: though is supposed to be fresh funds but you can just renew by topping up abit more to get the promo rate tongue.gif

Don't forget to enter the SMS contest to stand the chance to win either a TV, fridge or shopping vouchers ya  thumbup.gif
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yeah done. monthly interest.

QUOTE(bbgoat @ Feb 23 2016, 10:25 PM)
Send SMS to join the BR's contest ? biggrin.gif
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yes. hope still available when my SCB FDs due in early Apr

This post has been edited by guy3288: Feb 23 2016, 10:35 PM
bbgoat
post Feb 23 2016, 10:25 PM

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QUOTE(guy3288 @ Feb 23 2016, 10:18 PM)
yeah done. monthly interest.
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Send SMS to join the BR's contest ? biggrin.gif
cmk96
post Feb 24 2016, 11:02 AM

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there don't seem to have promotion for 1 month FD placement....

100k ... which bank offers the highest 1 mth interest? Affin bank?
WhitE LighteR
post Feb 24 2016, 11:12 AM

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QUOTE(cmk96 @ Feb 24 2016, 11:02 AM)
there don't seem to have promotion for 1 month FD placement....

100k ... which bank offers the highest 1 mth interest? Affin bank?
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Very rare. Usually 3 month and above only have promo.
5p3ak
post Feb 24 2016, 11:17 AM

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How long do you guys keep your money in FD? hmm.gif
kochin
post Feb 24 2016, 11:22 AM

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QUOTE(cmk96 @ Feb 24 2016, 11:02 AM)
there don't seem to have promotion for 1 month FD placement....

100k ... which bank offers the highest 1 mth interest? Affin bank?
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try bank rakyat.
3.4%?

http://www.bankrakyat.com.my/term-deposit-i-account

i am planning to do the same since someone mention hampers from them for CNY.
kekeke.
ytan053
post Feb 24 2016, 11:44 AM

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not sure is this useful. I have been depositing my eFD in Maybank GIA to earn higher interest for 1m (RM5k)/ 2m (RM1k onwards but below RM5k). The indicative interest rate is 4% monthly but it could fluctuate depending on the return on investment. I have several GIA FD with Maybank deposited in Jan 2016 and got 4.07% for the first month interest. I find this convenient and no need to look for promo (due to high min amt required for fd promo, usually starting from RM10k) because I do it monthly (extra funds all go to FD). This interest rate is higher than any of all the existing bank that offers for 1m & 2m interest rate.

Edited: Thanks to member who point out the error in my calculation.

http://www.maybank2u.com.my/mbb_info/m2u/p...al/ACC-Accounts

This post has been edited by ytan053: Feb 24 2016, 02:21 PM
wjchay
post Feb 24 2016, 12:04 PM

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QUOTE(ytan053 @ Feb 24 2016, 12:44 PM)
not sure is this useful. I have been depositing my eFD in Maybank GIA to earn higher interest for 1m (RM5k)/ 2m (RM1k onwards but below RM5k). The indicative interest rate is 4% monthly but it could fluctuate depending on the return on investment. I have several GIA FD with Maybank deposited in Jan 2016 and got 3.39% for the first month interest. If this info is useful, I can post my subsequent interest rate every mth. I find this convenient and no need to look for promo (due to high min amt required for fd promo, usually starting from RM10k) because I do it monthly (extra funds all go to FD). This interest rate is higher than any of all the existing bank that offers for 1m & 2m interest rate.

http://www.maybank2u.com.my/mbb_info/m2u/p...al/ACC-Accounts
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Indicative is 4%, but they give you 3.39% instead? Anyway it's still better than Islamic eFD.
Ramjade
post Feb 24 2016, 12:16 PM

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QUOTE(wjchay @ Feb 24 2016, 12:04 PM)
Indicative is 4%, but they give you 3.39% instead? Anyway it's still better than Islamic eFD.
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But it needs RM5k. unsure.gif I can't apply as I only keep RM1k monthly in eFD.
cybpsych
post Feb 24 2016, 12:20 PM

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QUOTE(ytan053 @ Feb 24 2016, 11:44 AM)
not sure is this useful. I have been depositing my eFD in Maybank GIA to earn higher interest for 1m (RM5k)/ 2m (RM1k onwards but below RM5k). The indicative interest rate is 4% monthly but it could fluctuate depending on the return on investment. I have several GIA FD with Maybank deposited in Jan 2016 and got 3.39% for the first month interest. If this info is useful, I can post my subsequent interest rate every mth. I find this convenient and no need to look for promo (due to high min amt required for fd promo, usually starting from RM10k) because I do it monthly (extra funds all go to FD). This interest rate is higher than any of all the existing bank that offers for 1m & 2m interest rate.

http://www.maybank2u.com.my/mbb_info/m2u/p...al/ACC-Accounts
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good sharing. i'm also slowly "converting" a bunch of Islamic eFD (3mths) to GIA-i eFD (2mths) which offers slightly higher profit rate at shorter tenure (better liquidity).

QUOTE(wjchay @ Feb 24 2016, 12:04 PM)
Indicative is 4%, but they give you 3.39% instead? Anyway it's still better than Islamic eFD.
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yeah, if gotten 3.39%, then it's still better than Islamic eFD's 3.3% for 3mth.

best thing about GIA-i eFD is rm1k required for 2mth tenure.
Nom-el
post Feb 24 2016, 12:21 PM

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QUOTE(ZeaXG @ Feb 23 2016, 01:56 PM)
Anyone noticed CIMB now have no promo for FD? How will they survive oh?
*
QUOTE(cmk96 @ Feb 24 2016, 11:02 AM)
there don't seem to have promotion for 1 month FD placement....

100k ... which bank offers the highest 1 mth interest? Affin bank?
*
Actually, CIMB does have FD promo as reported earlier by someone in the earlier thread. The last I checked with my branch last week, they are offering the following rates for fresh fund: -

1 month - 3.7%
3 months - 4.1%
6 months - 4.2%
12 months - 4.3%

Min 10k

I do not know if it is an official promo or not as the rates change quite frequently.


QUOTE(ytan053 @ Feb 24 2016, 11:44 AM)
not sure is this useful. I have been depositing my eFD in Maybank GIA to earn higher interest for 1m (RM5k)/ 2m (RM1k onwards but below RM5k). The indicative interest rate is 4% monthly but it could fluctuate depending on the return on investment. I have several GIA FD with Maybank deposited in Jan 2016 and got 3.39% for the first month interest. If this info is useful, I can post my subsequent interest rate every mth. I find this convenient and no need to look for promo (due to high min amt required for fd promo, usually starting from RM10k) because I do it monthly (extra funds all go to FD). This interest rate is higher than any of all the existing bank that offers for 1m & 2m interest rate.

http://www.maybank2u.com.my/mbb_info/m2u/p...al/ACC-Accounts
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How did u calculate the interest rate for your GIA placement? I have been getting 4% p.a. interest for the past few months even for those that were placed for a few days only.


Yippie123
post Feb 24 2016, 01:05 PM

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QUOTE(ytan053 @ Feb 24 2016, 11:44 AM)
not sure is this useful. I have been depositing my eFD in Maybank GIA to earn higher interest for 1m (RM5k)/ 2m (RM1k onwards but below RM5k). The indicative interest rate is 4% monthly but it could fluctuate depending on the return on investment. I have several GIA FD with Maybank deposited in Jan 2016 and got 3.39% for the first month interest. If this info is useful, I can post my subsequent interest rate every mth. I find this convenient and no need to look for promo (due to high min amt required for fd promo, usually starting from RM10k) because I do it monthly (extra funds all go to FD). This interest rate is higher than any of all the existing bank that offers for 1m & 2m interest rate.

http://www.maybank2u.com.my/mbb_info/m2u/p...al/ACC-Accounts
*
I have been getting indicative interest rate so far without a problem, are you sure your calculation is correct?
ZeaXG
post Feb 24 2016, 01:48 PM

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QUOTE(cherroy @ Feb 21 2016, 05:35 PM)
PB did extend its PB xtra campaign to 30 April for 12 month FD.
https://www.pbebank.com/Annoucements.aspx?qid=272#q272

6 months 4.1%
Next 6 months 4.5%.

Effective 4.3% for 12 months.
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Thank you for the information. Just placed another FD for this promo drool.gif

This thread is fast becoming my favourite thread in lowyat.
ytan053
post Feb 24 2016, 02:13 PM

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QUOTE(wjchay @ Feb 24 2016, 12:04 PM)
Indicative is 4%, but they give you 3.39% instead? Anyway it's still better than Islamic eFD.
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Because it is an investment account, hence the rate would fluctuate. After recalculating, it is actually 4.07% p.a. for the 1st month biggrin.gif

This post has been edited by ytan053: Feb 24 2016, 02:20 PM
ytan053
post Feb 24 2016, 02:15 PM

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QUOTE(Ramjade @ Feb 24 2016, 12:16 PM)
But it needs RM5k. unsure.gif I can't apply as I only keep RM1k monthly in eFD.
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RM5k is minimum placement for 1month FD. RM1k can be done for 2months onwards. It is convenient as it is just a click away, no nd to go to counter.
ytan053
post Feb 24 2016, 02:19 PM

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QUOTE(Nom-el @ Feb 24 2016, 12:21 PM)
Actually, CIMB does have FD promo as reported earlier by someone in the earlier thread. The last I checked with my branch last week, they are offering the following rates for fresh fund: -

1 month - 3.7%
3 months - 4.1%
6 months - 4.2%
12 months - 4.3%

Min 10k

I do not know if it is an official promo or not as the rates change quite frequently.
How did u calculate the interest rate for your GIA placement? I have been getting 4% p.a. interest for the past few months even for those that were placed for a few days only.
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THanks for pointing out! Now that I did my calculation, it is more than 4% in Feb'16. I placed RM1k in Jan 16 and the balance is 1003.39 in Feb'16, hence my simple minded thinking tells me it's 3.39%. If convert into % p.a. equivalent, it is actually 4.07% p.a. rclxms.gif
Ramjade
post Feb 24 2016, 02:43 PM

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QUOTE(ytan053 @ Feb 24 2016, 02:15 PM)
RM5k is minimum placement for 1month FD. RM1k can be done for 2months onwards. It is convenient as it is just a click away, no nd to go to counter.
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There are banks which offer 1 month efd like BSN and Ambank with placement of min RM1k. Why should I dump RM4k into FD when I dump my RM4k somewhere else? That Rm1k that I dump in every month, is just my emergency reserve. Max inside the 1 month eFD is RM1.5k. More than that, I will put my money elsewhere. smile.gif

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