Bank: Maybank eFD Flexi 2.0 Campaign (Conventional)
Campaign Period: 4th - 30th June
Tenure: 12 months
Min Placement: RM 10,000 (Individual)
Rate: Effective rate 4.27%

Link: http://www.maybank2u.com.my/WebBank/fd-flexi020616_tnc.pdf

Maybank Research said the improvement in banks margins may be attributed to factors such asset repricing, a focus on higher yielding loans, particularly in the SME sector and the shedding of more expensive fixed deposits.

If Ambank allow us to place it with existing fund or just top up a bit, then that is covinient for existing customers.
However, pure "fresh" fund, still prefer Hong Leong 6 month offer, 4.25%  
By the way, I calculate ambank offer in stupid way like : (4.25*20+1.8)/21 = 4.133%

You are right , the effective rate is 4.13%. for senior citizen, interest is paid monthly.  The plus side is entitle to participate in the car draw competition.

Ambank policy on premature withdrawal, withdraw after 3 months, half the  interest will be given only.

you mean gia-i 4.5% campaign? over since jan!

Usually normal FD are supposed to pay the interest at the end of tenor (period in months or years) on maturity. However some banks have monthly interest payments as an option which you must choose during placement of the FD principal (your capital), subject to certain conditions.
For example, Bank Rakyat requires at least 5k, tenor of 6 months or longer, and an account to credit the interest automatically each month.
Ambank also offers monthly interest for senior depositors. Other banks may offer monthly interest but usually specific to a particular promotion such as HongLeong current offer for seniors (qualifying age is not standard for all banks).

Interest rate may be higher for senior or priority/privilege/private higher worth accounts but need to ask to get it if you qualify.
Usually the banks allow a senior to have a joint account with a younger person/s.

To avoid any confusion, place your FD not later than the 28th of the month, then the interest will always creditted on the same day each month.
Some banks calculate based on  29/365 when a  leap month occurs, and 28/365, 30/365 or 31/365 for other months..
Some other banks eg Maybank, will take into consideration leap month and use 366 as divisor.
Alliance Bank however, will divide the total interest due by number of months (promo over).
All the banks will make adjustments to the interest paid due to rounding error for each month.
To avoid confusion, you may place a multiple of RM 365 such as RM 3,650, RM 5,110, RM 7,300, RM 10,950, RM 36,500.

Ambank 6 months 4.25%

Sorry a bit out of topic, but have always wondered about these 2 issues:

(1) must we declare FD interest for income tax purposes?
(2) if FD interest is considered tax free, is there a limit to this tax-free amount?  For example, anything above RM100,000 FD interest must be declared as it will be taxed?

Thanks.

Sorry a bit out of topic, but have always wondered about these 2 issues:

(1) must we declare FD interest for income tax purposes?
(2) if FD interest is considered tax free, is there a limit to this tax-free amount?  For example, anything above RM100,000 FD interest must be declared as it will be taxed?

Thanks.

Interesting ! If your the other one FD really 4%, then you have to talk to MBB about it. My branch has quite a number of people affected according to MBB officer. 

Ya, yesterday spent about half an hour trying to call them!
According to the person in charge, it should only affect the initial batch of placement but I asked her to check all my GIA placements.

Luckily i read your posting here     

She explained the same thing, if system cannot be changed, then they need to escalate to branch manager to manually credit the additional interest.

Ya, yesterday spent about half an hour trying to call them!
According to the person in charge, it should only affect the initial batch of placement but I asked her to check all my GIA placements.

Luckily i read your posting here     

She explained the same thing, if system cannot be changed, then they need to escalate to branch manager to manually credit the additional interest.

So confirmed that one of your GIA-i placement has the 4% issue for 7th month interest ?

It is good to share the issues that we face. Initially I thought MBB 7th month for that promotion still giving 4%. But others told me they got 4.5% for the 7th month. That is how I discovered I got the system setting issue.

Yes, they acknowledged the issue but assured me the other placements not affected.
They told me that they will only credit the interest into my savings account upon maturity but I requested it to be credited on a monthly basis as I am afraid I may forget about it by then. So request is currently on application, waiting for approval.

here's the website



The Launch of “eFD FLEXI 2.0” Campaign [ Maybank | T&Cs ]

Process Flow for Placement

Process Flow to check rates

Notes:
Select interest payment mode of ‘Credit to Account'. Customers who select interest payment mode of ‘Add to Principal' will only receive the board rate and not the campaign rate.
Any ‘Modification' made to existing eFixed Deposit will not be entitled for eFD Flexi 2.0 Campaign Rate.
Premature withdrawal for 2 months and above will get half (1/2) the campaign rate for the completed number of days until premature withdrawal or closing of account.
No interest shall be paid for eFixed Deposit that has not completed its 2 months full tenure period.
The campaign rate is offered only once. Upon rollover the board rate will be given.
For first time fixed deposit customers, placement must be done through Maybank2u website (www.maybank.com.my)
For joint accounts of subsequent placement of eFixed Deposit, it must be made by the same primary customer of joint account and eFixed Deposit.
For placement of eFixed Deposit, debiting and crediting of account type imteen is not available.
Call 1300 88 6688 or visit www.maybank.com.my, ‘Promotions' for more details or terms and conditions

here's the website



The Launch of “eFD FLEXI 2.0” Campaign [ Maybank | T&Cs ]

Process Flow for Placement

Process Flow to check rates

Notes:
Select interest payment mode of ‘Credit to Account'. Customers who select interest payment mode of ‘Add to Principal' will only receive the board rate and not the campaign rate.
Any ‘Modification' made to existing eFixed Deposit will not be entitled for eFD Flexi 2.0 Campaign Rate.
Premature withdrawal for 2 months and above will get half (1/2) the campaign rate for the completed number of days until premature withdrawal or closing of account.
No interest shall be paid for eFixed Deposit that has not completed its 2 months full tenure period.
The campaign rate is offered only once. Upon rollover the board rate will be given.
For first time fixed deposit customers, placement must be done through Maybank2u website (www.maybank.com.my)
For joint accounts of subsequent placement of eFixed Deposit, it must be made by the same primary customer of joint account and eFixed Deposit.
For placement of eFixed Deposit, debiting and crediting of account type imteen is not available.
Call 1300 88 6688 or visit www.maybank.com.my, ‘Promotions' for more details or terms and conditions

guess they've reached the quota and ended the campaign earlier.



https://www.maybank2u.com.my/WebBank/030716_product_info.pdf

Effective rate not 4.31%??

http://www.maybank2u.com.my/mbb_info/m2u/p.../PRO-Promotions