CIMB got eFD promotion.
4.2% for 12 months.
4.1% for 3 months.

CIMB promo : (have to request from HQ)

I think 50K already can request but then it also depends on how helpful your RM is.

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.

The following text is from Hong Leong Mach FD:
Why does Hong Leong want to regain the excess interest? Correct me if I am mistaken, but isn't that the more fund I place in FD, the more profit Hong Leong will gain by lending the FD amount to other bank customers? The interest rate I gain is same percentage, regardless of the placement amount.

Usually less than 3 months big fat zero. If already more than 3 months, usually half the promised interest rate.

Only exception is maybank eGIA-i where regardless when you withdraw. You will still get the full 4% which is calculated daily.

Generally (can be varied), from what I knew,
Deposit less than 3 months, premature withdrawal, you get zero interest, even just a day to mature.
Deposit more than 3 month, you get half of the board rate, calculated on daily basis on number of days completed.

3.4 In respect of placement of FDs for 1, 2 or 3 months, the following shall apply if the FD is withdrawn prior to maturity:-
3.4.1 No interest will be paid.
3.4.2 Where interest is credited into my/our Current/Savings Account on a monthly basis, such monthly interest credited
prior to withdrawal of the FD will be deducted from the principal before the FD withdrawal proceeds are released to
me/us.
3.5 In respect of placement of FDs exceeding 3 months, the following shall apply if the FD is withdrawn prior to maturity:-
3.5.1 No interest will be paid on the FD withdrawn before the completion of 3 months. For FDs withdrawn after the
completion of 3 months, interest will be calculated and paid at half (1/2) of the original contracted rate for each
completed month.

the past few mth i save in bank sa..
bank get this gift  i save in sa 1 mth only  

if i were u, i tell them go fly kite oredi  how can they treat PB customer like dat???

sorry guys newbie here,
just to share what I been advise from a PRO FD investor.

was told if you have large amount of excessive money and not good on share market. The ways to make some additional CASH from bank is through FD.

This PRO had about few millions in FD. He share with me how he make the money grow in FD. Earlier was heavy lost on unreliable share market and he is not good on it. So he workout a better and guarantee return investment.

the formula what he told me as below:

presume the FB interest is 1 month 3.25% and compare 3 month 3.30%.

month amount interest rate        total
1        10,000.00  3.25% 27.08  10,027.08
2        10,027.08  3.25% 27.16  10,054.24
3        10,054.24  3.25% 27.23  10,081.47
   
   
   
month amount interest rate        total
3        10,000.00  3.30% 27.50  10,027.50
Most of the banker will approach you by offer you a higher interest for longer period such as 3 months onward.
But when you work out as formula above, actually if you put in 1 month FD you could earn better. (if you put the interest add in, auto renew).
And additional benefit for short term is you could withdraw any time when u require without loosing half of the interest profit. Let say tight up 6months or 12 months, and emergency need CASH.

This PRO although he is CASH cow, he still prefer split his MONEY is several FD. (he told me about 100 over piece FD document).
If any bank have special promotion you can withdrawn ASAP and reinvest even within same company BANK.
Just my humble sharing, if any above is inaccurate please ignore.
apologies for in convenient cause.

Long ago, could make good money from daily REPO and then later from short term deposits instead of FD. The calculations were never quite daily compounding  due to the public holidays and week ends. Some banks could handle at big branch, but some are troublesome as have to go to/thru their money market/treasury place at HQ or elsewhere.

The two thing that throws off daily compounding calculations is the rounding method of the particular bank and the days per year used. The error is only at most below 1 sen per day in the worst case where truncation (any extra digits after the sen is disregarded) is used instead of normal rounding to nearest sen (half sen off). You need to test this out with your bank to see how their system actually handles.

The 365/366 multiple method is not applicable for interest add on to principal compounding as the new principal increases daily.

Just get MBB's online FD and call it the day, simple and no need to headache. Invest in their GIA that giving 4%.

Just wondering... Will anyone open up a new account at certain banks just because of the promo rates for FD? Or will you just pick the best rates offered by the bank that you are holding account with?

I dont think I would want to do that. Too obvious. But then again, if you go to another branch of the same bank then it would be ok. 

don't think can do that..

best is to transfer to another bank account.

then transfer back later

Just Came back from CIMB penang

Offer
1 month 3.75%
6 month  4.2%
1 year  4.25%

today last day

Preferred rates ..still need branch to get HQ approval ( so far never have problem with approvals)

Today's rate:

4.2% for 3 months and 6 months.
Other tenure slightly lower. Didn't pay much attention. I think 12 months 4.15%

Actually, from what I know is, anyone also can try for these "promo" rates.
Just need bank manager to try asking HQ for approval.
I 'accidentally" found out from teller, the threshold amount is a ridiculously low figure of 5k

Can advise how to do it?  I was told that I need an atm (charged at RM8/year) for internet banking.

I have no choice coz my FD with AmBank expire on 29/7 

Correct. Thats why when I want to transfer my FD out of HSBC, my personal RM told me that " Our customers usually dont care about interests rates"? I was thinking like "Then what should we care about besides that? Looking at your wrinkled pretentious face?" 

Any idea if 6 figures can nego to 4% pa?

Betul ke 3&6 months higher than 12months?