Just saw RHB 2.55%
https://www.rhbgroup.com/255/index.html?utm...tm_campaign=255

Extended to August

Seems HLB still has eFD 2.4% 12 months, 2.35% 6 months. Place via FPX.

Uob 12m 2.3

Yes, i think among all HLB still offer the highest

I thought RHB has the highest for eFD at the moment?

Have some enquiry here. I’ve place rhb bank efd 2.5% for 10k. There is no withdrawal button in case of emergency. Or should i go over the counter to uplift the FD

Have 3 FD matured with MBSB. Found out the 3 of them, received final month interest is slight less, like RM491 vs RM481 received. Double checked previous months, interest received is correct per calculation. Already factored in 30/31 days. Key point is previous months are correct.

Approached the related FD officer, she said she will contact the HQ on it.

The 3 FD matured last week and yesterday. Anyone else checked their FD monthly interest with MBSB recently ?

This post has been edited by bbgoat: Aug 4 2021, 10:33 AM

The MBSB FD promo monthly payments and final amount (DSP) which was shown on their slip as based on using a divisor of 366 days had raised doubts about how they would actually pay and whether there will be some kind of final adjustment. I had written about this around 10 July 2020 and asked for readers to help to provide data to see how MBSB actually worked then to prepare for shocks for big placements. guy3288 was helpful to provide clues as to how things worked with his earlier FD data.
The question of monthly payments appears to follow the Maybank 366 divisor for leap year IBD and the 365 divisor for normal year IBD according to tracking of MBSB FD monthly payments.

However, the question of how or whether they will adjust to the DSP stated which was calculated at flat 366 divisor for the FDs I placed, or whether they will just ignore it and follow the Maybank calculation till the end which will give a final amount bigger than the stated DSP was not answered until maturity occurs. In my case, I had placed at 18 months in July 2020 and maturity is in January 2022 compared to your earlier maturity date.

If want to figure out how they do adjustment whether right, wrong or kind of reasonable, it would help if tell how many months and rate involved.

Other than that you could add up all your monthly payments received and your principal and see what is the difference if any with the stated DSP to see if they adjusted back or have some other possible methods. Please tell us what you can find out as the reply - all done by computer at the end from the relationship person not helpful. (I stopped placing at MBSB in 2020 when I realised the haziness around the question.)

This post has been edited by Deal Hunter: Aug 5 2021, 04:03 AM

Thanks for the explanation!

For 2020, they used 366 days as divisor for monthly FD profits (they called it profits instead of interests). For 2021 they used 365 days. But for final month profit/interest, there is some kind of adjustment.

Which even the branch FD senior officer was unable to reply me. She said she is sending email to the HQ.

Next week has to go there again. See what she say.

how much now they giving? last month HLB got the 7.7 promo

Fyi, Affin still having efd promo. Not sure when end date.
Islamic/Conventional 12m - 2.5% 10k

AmOnline: 6 months eFixed Deposit (eFD)/eTerm Deposit-i (eTD-i) Promotion [ Ambank | T&Cs ]

Channel	Tenure	Placement Amount	Promotional FD/TD-i Rate	Effective FD/TD-i Rate
AmOnline via FPX	Six (6) months	Minimum RM10,000	2.40% p.a.	2.40% p.a.

Dear Valued Customers,

Please be informed that the Terms and Conditions for Fixed Deposit (“FD”) and Fixed Deposit-i (“FD-i”) accounts will be revised effective 12 June 2021. The revisions are outlined below:

1. For new accounts, interest/profit will, at the option of the Customer notified upon placement of the FD/FD-i, be:
(a) credited into the Current or Savings Account/Current or Savings Account-i (“CASA/CASA-i”) under the same name and signature requirement as the FD/FD-i Account only upon maturity of FD/FD-i; or
(b) added to the FD/FD-i principal sum at maturity

2. For FD/FD-i opened prior to 12 June 2021, interest/profit earned will continue to be credited into the CASA/CASA-i on a monthly or six-monthly basis until the end of the FD/FD-i tenure. Should the FD/FD-i be renewed, whether manually or on an auto-renewal basis upon maturity, interest/profit for this renewed FD/FD-i will be revised to credit on maturity date.

Thank you

HLB Connect Team

Thanks cybpsych for the webpage and link to T&Cs.

Any readers made a placement on this Ambank Conventional eFD/Islamic eTD-i BEST 6 promo. Minimum 10k via FPX of fresh funds from 7 Aug 2021 to 31 Aug 2021?

I would like to ask those who had placed whether there is any indication on placement or receipt as to what is the expected/calculated interest/profit at maturity?

I refer to the example in the T&Cs link as below:-

4 Promotion Mechanics
4.1 This Promotion is only available for placement made through AmOnline via FPX only during
the Promotion Period. The Promotion’s details are as below:
Channel Tenure Placement Amount
Promotional eFD/eTD-i
Rate
(“Promotional Rate”)
Effective
eFD/eTD-i Rate
AmOnline
via FPX Six (6) months Minimum RM10,000 2.40% p.a. 2.40% p.a.
Example:
If a customer’s placement amount is RM10,000 effective from 15 August 2021 for 6 months, upon maturity on 16
February 2022, the total interest/profit that the customer will receive is RM120.00
Calculation: RM10,000 x 2.40% p.a. = RM240/365 x 184 days (15 August 2021 to 16 February 2022) = RM120.00
Return on Deposit = RM120.00/ RM10,000 = 1.20%

A glance at the T&C, shows that according to this example, a deposit of 10k for a placement on 15 Aug 2021 to 16 Feb 2022 is suppose to be 184 days and will return RM 120.


I have 3 issues with this.

1) When is the Effective Date ED and when is the Maturity Date MD. If the ED, is 15 Aug 2021, why is the MD not 15 Feb 2022 which gives and IBD of 184 days.

2) Assuming that Ambank's idea is actually for 184 days for a placement in August 2021 to February 2022, why is the interest calculated as RM 120.00 only?

Should it not be RM 120.98 (if use round down to nearest sen) or RM 120.99 (if use round to nearest sen).

Following this example, a cumulative principal of 100k would not yield RM 1,209.86 but only RM 1,200.
A cumulative principal of 250k would not yield RM 3024.65 or 3024.66 but only RM 3,000.
A cumulative principal of RM 1,000,000 would not yield RM 12,098.63 but only RM 12,000.

Is this an outright mistake or Ambank intends a flat half year calculation instead of being based on IBD?

3)I also note that August has until the 31 st and as it is FPX, even placing on 31 st August holiday is possible.

However, February 2022 ends on 28 February. The question is how does Ambank adjust the Maturity Date if placement is done on 28, 29, 30, 31 August 2021?

I would like to have readers giving feedback as to what happens so that we can get an idea of how Ambank operates.

Thanks to those replying in advance.

This post has been edited by Deal Hunter: Aug 7 2021, 07:24 PM

Update for MBSB FD profit/interest

In MBSB again, renewed FD to 15 mth 2.45% with monthly interest. Asked the officer in charge of FD. She said they have written to HQ to give me the additional FD profits. HQ takes time to reply.

Well ...............

Anyway another FD matured today, this one is no monthly interest, also found the interest is not to the 2.75% for 11 months. Counted the days, the difference is just rather minor. Decided just wait and see on the previous cases.

still got?

you can login to affinonline and see if these rates are still available

Update again, itchy, just did a quick calculation for my MBSB 11 mth FD with profit at maturity.

MBSB just used simple 366 days as divisor for the profit calculation. Though the FD spread across the 2020 and 2021, with 2020 having 366 days. Just pro rate about RM8 less or so for the maturity profits given.

Anyway I think would just ignore this first. Just see what their HQ do with the 3 other FD with monthly interest. Though I think I have some idea of what their computer system do already.

This post has been edited by bbgoat: Aug 10 2021, 10:41 AM

Enjoy higher returns up to 2.90% p.a. on your 6 months Step Up FD/FD-i when you deposit with us today! [ HLB | T&Cs ]
01 AUGUST 2021-30 SEPTEMBER 2021

Step Up FD/FD-i 6-Month Rate Breakdown: Month 1-2: 2.00% p.a. | Month 3-4: 2.30% p.a. | Month 5-6: 2.90% p.a.

Effective Rate: 2.40% p.a.

Minimum Placement Amount: RM10,000 | Maximum Placement Amount: RM5,000,000

This post has been edited by cybpsych: Aug 10 2021, 05:16 PM