UOB :
Conventional  1 mth  4.3% (monthly)

I think it is more likely that inheritance and capital gains taxes will be introduced. Tax on interest income will affect the less wealthy.

Tried to ask for long term FD in CIMB today, Kena rejected, nego kaw kaw even though slightly below 200k. Puchong branch.

Oh wells, just need to stick to CIMB 4.4 until next promo. Convenient bank compared to BR

If I multiply the interest I get every month with 60 the interest rate is only 4.64 and not 4.70. Please check yours.

Anyone can confirm this 3m 9.88% by Ambank?

Any promo for maybank ?

Unfortunately, yes. But...they do have another account, that takes effort to maximize. You get a base 3% p.a., pay 1 bill get another 1% p.a., and spend RM 1,500 with a HSBC card, you get another 1% p.a. This equates to 5%. The cap is RM 200k.

BUT...it is escalation on differential sum. You really need to move money in and out to make it work.

E.g. Month 1 - RM 200k...you get 5% total sum = RM 833.33
      Month 2 - RM 200k + RM 833.33...you get NOTHING
      Month 3 - RM 200k + RM 833.33...you continue to get NOTHING

To make it work, you need to move money in and out.

Month 1 - RM 200k...you get 5% = RM 833.33
Month 2 - Zerorize the account (move your money to any account compared to this as it generates NOTHING)
Month 3 - Move back in RM 200k...you get 5% = RM 833.33
Month 4 - Repeat Month 2
Month 5 - Repeat the alternate steps

The next highest interest bearing account on a monthly rollover is the OCBC 360. Again, you have to work at it as it is base 0.5%, deposit minimum RM 500 get 1.2%, pay 3 bills get 1.2%, spend RM 500 on debit/credit card get 1.2%. Total is 4.1%. I believe that Standard Chartered has another interesting account that you also have to work at to maximize (I don't favor this as it requires investment into unit trusts...4% base and 2% by investing = 6%).

Thus for the same example of RM 200k (capped at this for both banks), if you can practice alternate months and switch in and out and fulfill all the qualifying criteria, the interest rate will be:-

HSBC - RM 5,000
OCBC - RM 4,100
Total - RM 9,100/200,000 = RM 4.55%

A lot of work to get this but the plus point is you are not tied up on hard fixed deposit but get FD rate on a daily balance rest. Good benefit with great flexibility.

Anyone has a better system to share? I think our main aim is to maximize our money in the safest way possible.

How do u guys transfer a lump sum of money from one bank to another bank ? Through cheque?

Is it safe to lock your capital for a period twelve months? Six months is maybe a better solution. I prefer also flexible FDs because they can be withdrawn anytime so if there is a better offer elsewhere I can easily switch

Placing this promo eFD seem to count towards basic SA (no annual fee) free OTC quota. Got charged RM5 'volume charge', interesting.

was wondering, do the Bank Islam 2 yrs 4.65% credit monthly interest into banking account??

Thanks

ALL READERS - WARNING In general, please be advised that effective from 1 January 2019, number of changes occurred at various banks and whatever was written or explained or practiced  before may no longer be valid.

Wooww 5% 3 months   

Can anyone share the formular to calculate the interest earned?

https://www.calculator.com.my/savings-calcu...or#.XEzXr1z7RPY

seemed not very accurate

let say RM 10,000. 4.2%, 11 months
10,000 * !4.2 / 100 ) * (11 /12) =  RM 385 --> is this correct?

i think if the interest credited monthly, we still can withdraw principal and lose a bit interest on the withdrawal month.

Correct me if i am wrong

Good to know moving between bank is safe. But what about big amount FD placed in a few different banks like example

Bank a 500k, bank b 1 mil, bank c 1.5mil, bank d 2 mil

Will that trigger anything?

i am going for B Islam 4.65% or better still put into KWSP, can do cimb click easy

Hi There,
There is a FIXED DEPOSIT by Angkatan Koperasi Kebangsaan Malaysia (ANGKASA) 's subsidiary KOPBARIS which is currently offering a FIXED DEPOSIT at 12% per annum. This has been approved by the Ministry of Finance and is governed by Suruhanjaya Koperasi Malaysia (SKM).
<a href='https://pictr.com/images/2019/02/22/0Fva4l.png' target='_blank'>https://pictr.com/images/2019/02/22/0Fva4l.png </a>