But wouldn't you still need an account/product from HLB to logon to their e-banking portal in the first place?

of course la.

This post has been edited by cybpsych: Yesterday, 04:00 PM

I placed 20k and the cert states that by end of 15th month, I will have got 21061.xx, so you do the math, i think it's more than 4%

4.23% is annual rate

4.23%/12*15 = 5.028%

1061/20000 = ~5.305%

Affin bank is generous for sticking to 0.3525% pm after 12 months.

4% per annum. so you will get 20k x 0.04 x 1.25.

basic saving, atm card, 8 times max no charge withdrawal a month, can log in internet banking.

PB Enterprise FD Campaign

Please be informed that Public Bank is launching the “PB Enterprise FD Campaign”. The Campaign will run from 15 July 2019 to 30 September 2019.

Click here for the Campaign’s Terms and Conditions in English.

6-Month 3.60% p.a., min RM30,000 per receipt

BR 4.28% 11 months

Let's say for RM10000 deposit, interest at the end of tenure is RM392.33

Is this calculation correct?

Yes correct 🤗👍

Higher rate - so are you going to place at Bank Rakyat 4.28 % p.a. with your choice to credit interest every month or at the end into your Bank Rakyat CASA account of your choice (p01m11 @ 4.28 % p.a.)?

Yes you got it wrong about the Affin rate. It is 4.23 % p.a. Not 4.23 % return after 15 months.
Yes you have to open a CASA account by going to the correct mix branch which have both Affin Bank and Affin Islamic Bank together in the same branch building. Don't simply go to the wrong place.
No you do not open an eFD for this. This promo must go do there over the counter OTC.

For info on FD promos, if never mention specifically anything else always usually mean per annum for the interest rate and effective interest rate, and minimum 10k per placement OTC.

If you place at Affin, the IBD for the periodic p663m15 payments are at 164 days + 182 days + 92 days for this July.

As a tip, you should note that placing on Wednesday or Thursday this July will result in the Maturity Dates on Saturday or Sunday in October 2020.

This post has been edited by Deal Hunter: Yesterday, 10:34 PM

No it is wrong. You still have no basic idea about how the interest is actually calculated by banks based on Interest Bearing Days (IBD).

If you place in July, you will usually get 393.99 based on 336 IBD.

If you place in August, you willl usualy get 392.82 based on 335 IBD.

I won't explain about unusual exception cases as you obviously won't even understand yet how to benefit from them.

Click "Show posts by this member only" to read my previous posts on the peculiarities of calendar arithmetic in FD so that you won't lose money and also to gain more money. Most folks do not have any idea at all what they are missing by simply operating buta buita.

This post has been edited by Deal Hunter: Yesterday, 10:14 PM

i know the difference between the no of days in a different month. I am using a simplistic calculation in my example.

Is this cover by PIDM ?
e-FD can or not ?
Thanks !

Thank you for the explanation! the eFD I mentioned was for the HLB one, but in this case, I will try and place my funds in Affin

No PIDM protection. It's over the counter only.

Hi to all sifu, a newbie here. Let say i have my money in maybank and i would like to make a 3 month FD at HLB. What the correct way to do it? Considering i dont have any account other than Maybank. Thx a lot in advance

- Are you referring to the eFD promotion on HLB? If yes, read on below


You will need to open a CASA account at HLB and sign up the online banking. From there you can proceed to transfer money electronically.

As mentioned in TnC

"The Promotion is open to individuals who are the primary accountholders of a HLB Current or Savings account/ HLISB Current or Savings account-i(“CASA / CASA-i”) and who have registered for Hong Leong Connectprior to or during the Promotion Period(“Customers”). For the avoidance of doubt, joint CASA / CASA-i holders are NOT eligible to open or operate an Online Fixed Deposit / Online Fixed Deposit-i Account (“eFD / eFD-i”) and NOT eligible to participate in the Promotion"

"For the purpose of this Promotion, all placement(s)of deposits must befrom other banks via Financial Process Exchanges (“FPX”). FPX is a secure online payment method that facilitates interbank transfer of funds,facilitated by Payments Network Malaysia Sdn. Bhd. (“PayNet”).Further details can be viewed at https://www.paynet.my/business-fpx.html "


Refer to this: (How to place eFixed Deposit/-i on Connect Online Banking?)

https://www.hlb.com.my/en/personal-banking/...fd-i-promo.html

This post has been edited by hammerjit: Today, 09:24 AM