if interest add to principal, we won't get the compound interest?

Hlb casa need RM8 yearly fees as account maintenance fee?

This post has been edited by Lurker: Dec 9 2016, 03:58 PM

then its not 4.28% as claimed, borderline for misleading. overall effective should be way lesser depending on their first and second min sum.

Affin pakej 3 =4.08 for first six month. Then you will have 50% of your FD at 4.28 for the next 9month.
Unless you foresee >4.28 promo 6 month later, I think Affin a better bet.

Guys, for affin promo, they hv average rates finely printed at the bottom. I guess these are the effective rates?




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Ambank's diary for priority banking has for the past few years been similar to BR's design that you just got.

I have been asking around what benefits are there for Maybank Premier Banking but no one answered so far, do you know? I saw on the internet there is a customer appreciation dinner but I am not sure if my RM will get invites for me or not. If not much point having it I might as well just cancel it instead of having to remember to terminate it when I move my funds out later.


Anyone BR customer can get it, in fact, I even previously went in to get the diary without showing proof that I am a customer


So far I think only BR is the most generous in terms of gifts. Usually only priority or premier banking customers only get gifts.

How they even workout that effective rate?? That is so misleading!

At the placement of 1:1 , even renewal at same rate also not going to get you anywhere near that 4%

Perhaps someone can enlighten me...

Update: Affin hotline doesn't know about it...

This post has been edited by Cookie101: Dec 9 2016, 07:02 PM

Thanks.

This is the explanation I was looking for.

Better go Affin Package 1 with effective interest of 4.20% pa.
Useless RHB staff

I'm doing a simple calculation based on months, might not be that accurate, but close enough, so don't flame me.

Let's say you are taking option no.1 which is 2 months @ 3.58% and 15 months @ 4.28%, placing $100,000 for example.
That means you are placing at $100,000.00 for 17 months.

The first 2 months your interest would be $100,000 x 3.58% per annum (=$3,580.00), divide by 12 months and then multiply 2 months = $596.67

The next 15 months your interest would be $1000,000 x 4.28% per annum (=$4,280), divide by 12 months and multiply by 15 months = $5,345.00

Therefore total interest you receive for 17 months is $596.67 + $5,345.00 = $5,946.67.

To get average interest amount per annum, you divide the $5,946.67 by 17 months and multiply by 12 months which is 5,946.67/17 x 12 =$4,197.65.

Therefore average interest would be $4,197.65 divided by RM100,000 and multiply by 100 (to get percentage) = 4197.65 / 100,000 x 100 = 4.19765% per annum (which is close enough to 4.2%)

The above is my understanding and should it not be correct, please by all means correct me.

Lol... wokay but... at placement rate of 1:1 , isn't it for $100,000 for for 2 months and another of the same amount at 15 months... that's what I am wondering on...

So losing the interest for the next 13 months for the first $100,000, or renewed at board rates... no?

Thank you for your calculation effort btw

Their hotline is telling about the CNY bundle product and has no idea about this at all...

This post has been edited by Cookie101: Dec 9 2016, 07:44 PM

Tldr; lol.

I will just go for package 1. After 2mths uplift half and put it in other investments.

The other half still running on 4.28%.

U are asking about MBB's PB program ?

I still have MBB Private Banking card with me from years ago. But have pulled out all my funds from them. They still tack me as Premier Banking and send me regular emails updates. While I am their Private Banking customer, NEVER receive any call from the RM !! MBB PB banking receive some prizes from what I know. That is in the Klang valley. Penang one seems not doing anything. Maybe other Penang MBB Private/Premier Banking customers can correct me.

Incorrect
4.28% for 15 mths

Went to Maybank today
The officer told me their Maybank promo 12 mths GIA-i finished but 6 mths still on

My apologies, missed the 1:1 placement on the brochure....eyes failing me in my later years now..lol.

Anyway, I would think that the 2 months placement would be able to be up lift after 2 months. Previously they had another offer where it was 20/80 placement with the same plan where the 20% placement would be credited back to CASA after 2 months maturity, I had participated that plan.

Yep, I asking about MBB's PB as I just joined a month ago. The RM seemed like only wanted to register me but slowly now trying to intro me investment products.

Looks like the uselessness is nationwide.

make sure there is no t&c that says you cannot uplift after 2 months.

NEXT dude