Simple interest vs Compound interest. Most banks, if not all uses compound interest in calculating our interest returns.
In theory, yes you do get 2.5k every month if they pay you every month, if you dont calculate interest returns of the interest you've received.

So by the end of your 1 year placement, you wouldn't just get back 30k, but instead RM30,415.96. RM416 more because they take into consideration of calculating interest on the interest earned.

Hi there, any banks recommended for FD purposes? Maybank doesnt really generate that much IMO. Planning to dump 40K. Can do 12 months as well

This post has been edited by ywliang96: May 1 2017, 12:44 AM

Other than the fact the card looks good, there is lounge access at airports, but need to check the amount of accesses a year.

does anyone know the new gia-9 months can be done over maybank2u or must it be done over the counter?

GIA promo typically done OTC.

Hi sifu

Just wanna ask - is CIMB Fd 4.20% 12 mth still on going ?

This post has been edited by yvonne2016: May 1 2017, 10:08 AM

It was extended until end June. Note it is for CIMB Preferred customer.

I am bringing a BC to CIMB, to be divided into 2 portions, 1 for FD and 1 for SA. Will the fund appear immediately on the SA?

TQ

Thanks.
Have 4 FD due this week.
Will go for CIMB rate.
(Me preferred customer )

Solly double post

This post has been edited by yvonne2016: May 1 2017, 11:52 AM

CIMB e-FD promotion 12 months 4.15% 6 months 4%
thumbs up

Campaign period? Any link?

U will see the below ads when u login/logout to/from your cimbclicks. Just click on the ads for the T&C. I've copy paste below (only a few clause) for convenience.





CIMB BANK BERHAD'S TERMS AND CONDITIONS GOVERNING THE "6 MONTHS & 12 MONTHS ELECTRONIC FIXED DEPOSIT CAMPAIGN"

1. The 6 Months & 12 Months Electronic Fixed Deposit Campaign ("Campaign") is organised by CIMB Bank Berhad ("the Bank" or "CIMB Bank") and shall commence on 1 May 2017 and end on 30 June 2017, both dates inclusive ("the Campaign Period"). The Bank reserves the right upon giving fourteen (14) days' notice to change the duration and/or the commencement and/or expiry dates of the Campaign Period.

Special Interest Rates for Electronic Fixed Deposit ("eFD") Placements

4. To be entitled to the following Special Rates under this Campaign, the Eligible Customer(s) must make a minimum single deposit placement amount for the fixed tenure as per the table below during the Campaign Period:-

eFD Tenure: 6 Months
Special Interest Rates for eFD Placement ("Special Rates"): 4.00% p.a.
Minimum Single Deposit Placement Amount in eFD account: RM10,000

eFD Tenure: 12 Months
Special Interest Rates for eFD Placement ("Special Rates"): 4.15% p.a.
Minimum Single Deposit Placement Amount in eFD account: RM10,000

ampaign Mechanics

5. The eFD placement must be made through CIMB Clicks. Eligible Customer(s) must log into CIMB Clicks and click on the promotional banner regarding the Campaign to make the placement. Only Eligible Customer(s) will be able to view the promotional banner.

6. Fixed Deposit placements performed at any branches of the Bank shall not be eligible for the Special Rates.

7. The "Special Rates" are applicable for eFD placement of one (1) cycle only.

8. Interest will be paid out upon completion of the eFD tenure.


Cheers

This post has been edited by edlimcs: May 1 2017, 01:46 PM

How to be eligible customer?

edlimcs
Yeah, just log in also. didn't appear on my page.

Not bad, but i rather take the 4.1% otc for the sake of having a joint name. 12 months is too long a time for a single name efd

no, i was in a similar saturation, it can't be divided upfront, but there were two options.

1. deposit into CA/SA first, then only place FD 3 biz days later.
2. place FD first, but split into multiple FDs accordingly, that gives the flexibility to uplift amount that you want to CA/SA 3 biz days later.

CIMB FD promo has not been competitive for sometimes. Now it is the best rate for 1 year among the major banks.

I will also be going there the coming days to place more FD's. Unless new May month FD promo is higher than 4.2% for 1 year, from other banks !

Oh, also to CIMB to collect the FD cert for the FD that I placed on Friday.

This post has been edited by bbgoat: May 1 2017, 05:47 PM

Thank you for the info.

I think I will make 2 BC instead as it saves me the trouble from going to the bank again. One for FD and one for SA.

Is this the only bank offering 4%+ p.a currently?