Typo on date*
Seeking for any FD expert here to answer my curiosity.
Given if I put a 6months FD on this 3 days (29/08/2021, 30/08/2021 & 31/08/2021), when will be the maturity date, 28/02/2022, 01/03/2022 or other date?

Using my own excel formula, 29. 30 and 31-Aug-2021 add 6 months all end at 28-Feb-2022 but will receive different interest based on the different number of days. Calculation using 10k @ 2.5% p.a.
29-Aug = 183/365 days (Sunday, not possible) = RM125.3425
30-Aug = 182/365 days = RM124.6575
31-Aug = 181/365 days (Public holiday, not possible) = RM123.9726
1-Sep = 181/365 days (just extra calculation from me) = RM123.9726

Actual formula, depends on each individual banks whether to end at 28-Feb-2022 (Monday) or 1-Mar-2022 (Tuesday)

Maybe my real life example can shown u that they didn’t round down for my interest crediting if the system is coreect, but the manual interest crediting is in round down method like what u said. n based on my spreadsheet, I notice that HLB didn’t do round down and I get exact amount of interest everytime:

Placement date: 25 Feb
6 months TIA @2.45%
Mature date: 25 Aug
Number of day: 181
5000 x 181 / 365 x 2.45% = RM60.7465
So, if based on your theory, I should get RM60.74 and not RM60.75, am I right? But I get RM60.75 for this. Hope my understanding on your explanation is correct.. for earlier 18 Feb placement, the system give 2.40% at RM59.50, and the manual profit credited is only RM1.24, instead of RM1.25 (RM60.75 - RM59.50)

Please refer to attached screenshot on the amount I received without system error that I mentioned in my earlier post.

This post has been edited by mamamia: Aug 30 2021, 10:25 PM


Attached thumbnail(s)

Just curious, for 18-Feb 2.4% 5k 6-months 181/365
= 59.5068
= 59.51 instead of 59.50 if you are getting 59.50, so does this means the last cent round UP/DOWN is not at x.50 but at higher like x.70 ?

which gives a difference of 1.2397 = 1.24

Hmm, how u get x.70? But based on ur explanation, it sound logic.. 69.7485 - 59.5068 = 1.2397, that’s y I received only 1.24 instead of 1.25. But it seem they using round up mechanism instead of round down.

suppose if 2.40%, I should get 59.51, but they round down become 59.50.

But if 2.45%, system calculation is 69.75, suppose to be 69.74 if HLB system is using round down mechanism.. but, the amount I received shown otherwise..

I’m confused now.. whether it should be round down or round up.. but anywhere, it is just 1 sen difference. Just curious on how the system handle all this..

Anyone know if BR is extending the promo rate or has a new one? Have one maturing on 1st sept

Same for me 1 mature on 1st Sept. Just sharing to see if you interested in this.



Attached File(s)
 TnC_FTA_i_Special_Rates_Campaign.pdf ( 313.58k ) Number of downloads: 74

No account with Bank Muamalat. If no promo rate for BR, back up plan gonna be Affin 12m 2.5%, provided it is also not ended yet.

Just checked, my BR branch is close tomorrow and just my luck, that is my only cert with instruction credit everything to SA upon mature. So yay!
Now need to find a new home.

This post has been edited by Human Nature: Aug 31 2021, 04:38 PM

My BR cert renewal instruction is Transfer to Account, but at online portal is shown as auto-renewed Cant do anything now as branch is closed.

can amend existing joint fd at BR 'both need to sign' to 'either one to sign'? anyone experienced b4?

On another note, Affin 12m 2.5% promo rate is still shown at the online portal. Didn't proceed to confirm that still can make placement.

Just got the BR manager's reply, TD ice cream promo no extension 😑

is this still valid? can't find it on their website

Did you ask if there is a new campaign or back to base rate?

Yap. Back to base rate 😑

That is disappointing. Just when they just kick-started their 67 years anniversary campaign today

why cant find?

OCBC Sept promo

6m @ 1.85% Existing Funds
6m @ 2.10% Fresh Fund

Min placement of RM1,000


This post has been edited by Human Nature: Sep 1 2021, 03:49 PM

Valid. Just put 1 FD today. You can put e-FD if already have existing account with Bank Muamalat.