cimb 4.5% islamic still available at my branch today, just went, done !

ambank is efd or need go counter?

OTC, go to counter.

May I know which branch is that?

Did they mention promo until when? Purely FD or need to bundle with other products? Must open CASA for mthly interest?

This post has been edited by pengembara.jalan: Jan 3 2019, 04:28 PM

Pure FD, nego rate, may change any time.

Specific branch? May i know which MBSB branch offer this?

Not so much branch related. The branch need to get HQ approval for nego rates. So just call the branch to nego.

Pardon my ignorance but what does monthly interest mean ? Does it mean that they will allow you to withdraw the interest every month or is it monthly compounding ?

monthly interest (auto)crediting back to you.

Ya, CIMB 4.5% 6 months still got at SubangJaya branch.
No need CASA, interest add to principle on expiry.

Aaah, cool. thanks!

check with the bank whether's it's applicable to you.

usually this feature offered to senior citizen above certain age.

BASICS OF MONTHLY INTEREST - FD and SAVINGS ACCOUNTS

Suppose you place 365,000 at MBSB p1m24 offer at 4.65% p.a. (nego) today 4 Jan 2019.
Interest per day (IPD) is 365,000 x 4.65 /36500 = 46.50.

The exception is Maybank which uses 36500 for days in normal years and 36600 for days in leap year.

On 4 Feb 2019, MBSB will credit 46.50 x 31 = 1,441.50 into your MBSB savings account which you specified during your placement of the FD.

It is never added to your FD principal.

On 4 Mar 2019, credit of 46.50 x 28 = 1,302.00.
On 4 April 2019, get 46.50 x 31 = 1,441.50.
On 4 May 2019 get 46.50 x 30 = 1,395.00.
You can go and withdraw the interest on the 4th of each month.

However, you can also choose not to withdraw. The interest based on the End Of Day Balance (EODB) for each day will be calculated near midnite on the last day of the month and show up in your savings on the 1st of each month for possible withdrawal or kept for additional savings interest to show up on the next 1st of the month.
This works only for those savings accounts where the savings interest for the calendar month is added on each month.

Some banks provide options or differentiate the eligibility for monthly FD interest and also monthly Savings interest according to different age groupings or classes of clients (not talking about special nego terms offered).

Please note that there are other saving accounts where the saving interest is calculated and added on effectively removable from 1 July and 1 January (Half-yearly type).

You should also be warned that certain banks also have non-standard treatment of when the transaction calculation is done and the value is actually available and removable for monthly FD interest as well as calendar monthly Savings interest (i.e not exactly like the timing explained above).

Once you understand the basics and different variations, you can check what you are actually getting into and not get conned into losing out.

This post has been edited by Deal Hunter: Jan 5 2019, 02:15 PM

Today went to HL to withdraw FD. Heard that HL 12 mth is 4.3% for fresh fund, one counter staff told a customer. Did not enquire as I have made up my mind. Got a bankers cheque for 65 cents, for their PB.

Went over to MBSB to place for 13 mth 4.6% with monthly interest as nego'ed yesterday. This time surprisingly they are quite fast. About 20 minutes settled and get the new FD cert. Including withdrawing cash from previous FD monthly interest.

The only complain is still no onlne account. So monthly interest has to withdraw from MBSB. However they seems to be installing ATM machine. Was told they will be issuing debit card in March then can withdraw using debit cards.

But still no news on when online account willbe available. This will be convenient for FD monthly interest. Can just transfer out instead of going to the bank.

hi all

anyone aware of any upcoming FD promo from RHB ? tx

cn ask to bank in the monthly interest for you. mine was banked in monthly to MBB, last time was to CIMB, you can request or change as you wish, only trouble is at time i have to ask for break down for each cert interest as they bank in all combined as 1
.

I have asked about standing instruction to transfer but the branch said cannot. I remember u guys talked about this before. But last year Oct 2018 they told me cannot. So u have any new one recently that they are still doing the monthly interest transfer for u ? After they become a bank not too long ago.

This post has been edited by bbgoat: Jan 4 2019, 10:09 PM

mine were all old from 2013/14 due 2018/19 - Excl 5 ,6 monthly interest
and then end 2017 due to merger converted to "new" FD same rate, 3 monthly interest
and maturity extended 6months to end 2019

OCBC FD Promotion

12 months 4.15%

Minimum 10k. Until 19 February 2019.

https://www.ocbc.com.my/personal-banking/ac...ed-deposit.html