Thanks for the info.

It should indicate which cert and which month of interest having problem, rather than just post one line of 'Interest Adjustment' in.

Of coz I did lock-up 12 mths @ 4.50%
My portfolio objective is to continuously receive 'consistent' n 'reasonable' (i.e. at least 4.20%) returns in the next 2 to 3 years
Upon renewal, any rates above 4.20% is a bonus to me

Each of us has their own way of using our funds for returns from FD or other sources. No right or wrong way of doing it.

I got the same thing. I think it's interest adjustment for MBB eFD FLEXI coz same amount of monthly interest was credited into my savings account on 1 May and 1 June. 1 June should get 31 days interest and 1 May 30 days interest. MBB calculated 30 days for both months. So now they adjusted it.

This post has been edited by starry: Jun 23 2016, 10:23 AM

is the adjustment interest amount = 1 day interest?

Interesting that MBB has this type of problem. My GIA-i still got the 4% interest for the May month, credited on the 5th of June with 31 days calculated. But they have the issue of not doing the 4.5% for the 7th mth onwards !

Now this 30/31 days issue for eFD !

Someone there need to be send to the laundry !

probably, lazy programmers fixed/hardcoded 30-day = 1 month

imagine this for February, they gonna clawback the interest earned for February?

Hahaha, thats why even big companies has problems related to its personnel !

The posts on the adjustment of interest given by Maybank have prompted me to calculate the monthly interests

Month Days/Year Amount Int. rate Interest
MAY 31/366 $10,000.00 3.40% $28.80
JUN 30/366 $10,000.00 3.40% $27.87
JUL 31/366 $10,000.00 3.40% $28.80
AUG 31/366 $10,000.00 3.40% $28.80
SEP 30/366 $10,000.00 3.40% $27.87
OCT 31/366 $10,000.00 3.40% $28.80
NOV 30/366 $10,000.00 4.70% $38.52
DEC 31/366 $10,000.00 4.70% $39.81
JAN 31/365 $10,000.00 4.70% $39.92
FEB 28/365 $10,000.00 5.75% $44.11
MAR 31/365 $10,000.00 5.75% $48.84
APR 30/365 $10,000.00 5.75% $47.26
Total interest = $429.39

The total interests will be $429.39 and thus the effective interest rate is just 4.29% and not 4.31% as advertised!

how to do eFD placement for cimb and get it at special rate?

what special efd rate?

stated on 1st page:

dont think these are eFD.

so those are for walk in only?

thought eFD also same rate.

The quoted CIMB promo is likely OTC. Not eFD. Also not sure if it is still available as it was quoted in early May.

should you put your interest into e-gia account, you will have additional 4% on your RM429 interest.

Min for eGIA-i is rm1k.

you can put 10k into an FD, its not that hard to fork out anther rm600 into egia

Ya, that is how we can earn extra interest and further boost our ROI

Btw, I think I have figured out where is the missing 0.02% in the advertised effective interest. The reason is MBB has calculated the effective interest by assuming the Feb 2017 has 29 days instead of 28 days! Now I am very curious to see whether MBB will pay 29 days of interest for Feb 2017 in order to meet the 4.31% as promised.

This post has been edited by cj7lee: Jun 23 2016, 01:33 PM

Hi

Been lurking this topic in LY forum for a while.
Gained a lot so I thought I give back some.

I just found out the Affin Bank is giving 4.5% FD for 12 month.