Sentiments change. Why FD rates drop when OPR unchanged? Is this justified? My guess is if banks drop their FD rates too much and fast I may not be convinced if ringgit weakens, inflation stays high and 3M KLIBOR rate stays unchanged. That's my humble take now.

Actually, RHB do permit uplift on maturity. The only confusing part is the interest will not be shown in your principal b4 you uplift on maturity date. Once you successfully uplift and b4 you press proceed, it will tell you how much you are uplifting and the amount would be principal+interest. So do take note

Affin super fast, new FD promo rate !

Affin Bank FD promotion rate FOR INVIKTA CUSTOMER:

Applicable for both conventional and islamic FD account

3 months 3.88%p.a.
4 months 3.98%p.a.
6 months 4.00%p.a.
9 months 4.05%p.a.
12 months 4.20%p.a.

Minimum placement amount RM50K

Promotion period from 20/1/2023 until 3/2/20233

*rate subject to changes from time to time, will update again if there is any

*Invikta FD rate only applicable placement over the counter

*Invikta FD rate not applicable for online FD placement
Affin Bank FD promotion rate:

Applicable for both conventional and islamic FD account

3 months 3.73%p.a.
4 months 3.83%p.a.
6 months 3.85%p.a.
9 months 3.90%p.a.
12 months 4.05%p.a.

Minimum placement amount RM8K

Promotion period 20/1/2023 until 3/2/2023

*rate subject to changes from time to time, will update again if there is any

*FD rate only applicable placement over the counter

*this FD rate not applicable for online FD placement

Why RHB not doing Promotion FD online

i placed too using fpx but i cant see anything

Do you have the RHB link for this promotion?

8m 4.08% when promotion end?

So need fresh fund FPX and also only 8months 4.1% available?

updated. removed old rates / promo not sure still valid or not. let me know on any updates ya.

I would not want to bet against Malaysian FD rates not exceeding 4.8% over the next 12 months. When PBB had 12m FD at 4.3% and 24m FD at 4.8%, they were effectively saying that they expected 12m FD rates above 5.3% in January 2024.

The US is going to keep raising the Fed Funds rate to reign in inflation even if they trigger a recession. I wonder how high they will go this year. Those with long memories will remember the 70s and 80s when the Fed Funds rate was very high. Will the Fed push Fed Funds above 10% or 15% this year?

Total interest paid for 24mths @4.8% = total interest paid for first 12mths @4.3% plus total interest paid for second 12mths @X%. Solve for X and you should get 5.3%.

The bank would maximise profit if they minimise their costs in terms of interest paid on deposits. Therefore they should only have offered the 24mths FD @4.8% if they expect the 12mth FD interest rate in January 2024 to be 5.3% or higher.

Hi all sifu what benefit fd put in 1month with 1year?

As I know 1year fd rate higher then 1month rate but if put 1month ez take out anytime becoz every month got interest

RHB OTC 4.20% 1 Year

Agree looking at the fundamentals and analysis.... maybe even 5%...so hold ur horses or put into short term FD first.... good times will be back very soon...

All so called analysts got it wrong (except one) the last time. So they dont know any better than us.

Normally the simple interest formula for FD Interest = Principal x Rate/100 x Number of Days/365 for banks using the 365 divisor method.

However, for customers of banks using the Leap Year method (Maybank, Ambank and who else?), the simple interest formula used is

FD Interest = Principal x Rate/100 x Number of Interest Bearing Days in Non-Leap Year/365 + Principal x Rate/100 x Number of Interest Bearing Days in Leap Year/366

which can be simplified to

FD Interest = Interest Payable per IBD x IBD in Non-Leap Year + Interest Payable per IBD x IBD in Leap Year

If OTC place at Ambank on Monday 3 April 2023 for 1 year, there will be 273 IBD for year 2023, and 93 IBD for year 2024.

If OTC place on Tuesday 4 April 2023, there will be 272 IBD for year 2023, and 94 IBD for year 2024.

The total FD Interest to be paid decreases after each day in 2023 as the IBD for year 2023 decreases and the IBD of 2024 increases.

Usually occassional FD placers are not bothered or rather it can be said that they are hapless to do anything.

For bank staff or staff handling fixed deposit funds, this is an issue as they have to explain the decreasing interests to clients or auditors.

For clients that make a few placements at the same rate, they are disappointed. That is if they are observant enough to check what they get for each placement.

For businesses or those who set aside a  certain set sum on a regular basis weekly or monthly, this changes/upsets their cashflow expectations - whether they use it to pay for things in a year or for buying medicine or installments.

Of course rich people without any cashflow plans/needs do not understand such things as it is beyond their experience to be poorer.

Normally the simple interest formula for FD Interest = Principal x Rate/100 x Number of Days/365 for banks using the 365 divisor method.

However, for customers of banks using the Leap Year method (Maybank, Ambank and who else?), the simple interest formula used is

FD Interest = Principal x Rate/100 x Number of Interest Bearing Days in Non-Leap Year/365 + Principal x Rate/100 x Number of Interest Bearing Days in Leap Year/366

which can be simplified to

FD Interest = Interest Payable per IBD x IBD in Non-Leap Year + Interest Payable per IBD x IBD in Leap Year

If OTC place at Ambank on Monday 3 April 2023 for 1 year, there will be 273 IBD for year 2023, and 93 IBD for year 2024.

If OTC place on Tuesday 4 April 2023, there will be 272 IBD for year 2023, and 94 IBD for year 2024.

The total FD Interest to be paid decreases after each day in 2023 as the IBD for year 2023 decreases and the IBD of 2024 increases.

Usually occassional FD placers are not bothered or rather it can be said that they are hapless to do anything.

For bank staff or staff handling fixed deposit funds, this is an issue as they have to explain the decreasing interests to clients or auditors.

For clients that make a few placements at the same rate, they are disappointed. That is if they are observant enough to check what they get for each placement.

For businesses or those who set aside a  certain set sum on a regular basis weekly or monthly, this changes/upsets their cashflow expectations - whether they use it to pay for things in a year or for buying medicine or installments.

Of course rich people without any cashflow plans/needs do not understand such things as it is beyond their experience to be poorer.

More focused on loans & CC....

Can make more $$$ from these...

FD is not their main selling products.... So no need many or good rate promotion....

And since OPR maintain.... Less headaches