Rentas or IBG, i use it because it is convenient, instant and to me, most imprtant can get the document done in advance. Example FD mature next Tuesday, can drop by the bank today give the instruction to Rentas to any bank you like when mature. For banker cheque, need to physically collect the cheque and bank into another bank account. Renas or IBG are very useful to meet the fresh fund criteria.

This post has been edited by gsc: Mar 12 2016, 01:33 AM

Went to Maybank today
They offer 12 months FD @ 4.22%

Means... no more 4.5% rates for now for all banks.

If you gave them a cheque, its is normal procedure for the interest to start after cheque clears which will take 2 working days. I have tried with a banker's cheque and HLBB gave me the same day interest.

bro, br still has 2 yrs 4.55%, min 50k.

also most banks (almost all!!) give start date same as date of cheque (personal or banker's cheque). only bsn seems to have start date 2 or 3 days later!!

2 years is a bit too long ...but that is just me.

wrong thread sorry

This post has been edited by langstrasse: Mar 13 2016, 10:03 AM

i read somewhere that CIMB also has promo for existing funds? Is it true? What is the promo rate like, anyone? Tq

Still can't find the promo MBB page as mention in this thread.

I'm having difficulty calculating the interest paid by PBB for the 4-month step up FD that was offered several months ago.

Supposed I put in RM50k on 30/10 . PBB's interest rate is
1st month-3.6%
2nd month - 3.7%
3rd month - 4%
4th month - 5%

The interest is paid on maturity.

This is my calculation:
1st month interest (30 Oct - 30 Nov 2015): 50,000 x 0.036 X 31 days /365 = RM152.88
2nd month interest (30 Nov - 30 Dec 2015): 50,000 x 0.037 X 30 days /365 = RM152.05
1st month interest (30 Dec - 30 Jan 2016): 50,000 x 0.04 X 30 days /365 = RM169.86
1st month interest (30 Jan - 29 Feb 2016): 50,000 x 0.05 X 31 days /365 = RM205.48
TOTAL: RM 680.27

Public Bank paid an interest of RM679.28...

Is there something wrong with my calculation? The difference is small but I am curious how the calculation should be done. Really appreciate any advice

This post has been edited by gilabola: Mar 13 2016, 10:39 PM

It is probably due to 2016 is a leap year, you need to recalculate based on 366 days.


This post has been edited by cklimm: Mar 14 2016, 12:50 AM

Yes. When I use 366 days for the months that fall in 2016, I can compute the same amount as PBB's payment. Thank You, cklimm

Hi all,
Do banks in malaysia accept FD that worth up to 2 millions ringgit malaysia?
Thank you

do u mean in 1 bank alone? should be ok but better check with them as some bank may place restriction. some years ago, >1 million fd is at board rate. so check with the bank.

Hi Wiliam

Do we need to have a saving account with Maybank for the FD?

I dont have an account with Maybank

Thank you!

need attract new customer ma
they have to do promotion over and over again

In PBB to uplift FD which matured on last Sat. The counter leng lui asked me to top up 2k to enjoy the new 4.3% (eff rate) promo. Told her did not carry that amount, then go down to 1k. Said no again. Settled at nego RM500 top up ! So added cash RM500 to get the FD renewed to current promo rate.

As to 2 days interest, asked her about it. Paid cash for the 2 days interest. Not bad. So have to ask PBB if your FD matured over the holidays.

Earlier called BR, starting on Wed, their new FD promo is 4.28% for 12 mths. Still slightly lower than the 4.3% of other banks. But can nego if your amt is high. Plan next week to go for the 2 years 4.55%. Hopefully they are not cancelling it next week !

The trend is banks are cancelling the 4.5% FD promo !! Be it reach their limit or not, hard to say. BSN, even RHB's 4.45%, all gone. Right now BR's 4.55% really attractive. Wait for me, BR !

Looks like different branch of is practicing differently for PBB. I've checked with PBB last week for the same and they insisted that topping up a small sum is not acceptable at all for whatever sum of FD, claiming that their HQ will detect that the source of fund is not fresh.

Nope unless specified by them

Bank branches have been known to practice differently. In this case, it was suggested by the leng lui. I "nego" it down to RM500. Some banks may ask for 50% more for matured FD to get promo rate. But some may ask for few hundred RM.

RHB asked me to top up RM100 for matured FD recently to get new promo rate.

This post has been edited by bbgoat: Mar 14 2016, 06:36 PM

wah, just renewed my BR at 4.10 today