For comparison, existing MBSB 70:30 promo ends on Thursday 14 July 2022. Effective Rates are

6m 2.50 %
9m 2.55 %
12m 2.90 %
18m 2.95 %

The higher new rates will start on Friday 15 July 2022.

But banks are moving towards more automation based services. Very rare to have banks going back to old methods. Can foresee all will be online.

This is good, starting today?

You pointed out something important. Hope the depositors here don't lose sight of the declining MYR purchasing power relative to USD and SGD while you are in the midst of chasing after higher and higher MYR FD rates.


It's not the bank. SG banks still pay lower interest rates of below 3% p.a. (although that's quite an improvement from sub 1%-rates 1-2 years ago). https://sgfd.neocities.org/

It's the SG government. Singapore government bonds, bills and notes. They yield similar rates to Malaysia FD for different maturities, or even higher in some cases.

Can check the latest SG bonds and bills rate/yield here: https://eservices.mas.gov.sg/statistics/fda...ssuePrices.aspx

Note the yields shown are market yields, when you apply/bid, you get a slightly higher cut-off yield of 0.2-0.3% higher than the market rate if your bid is accepted and deemed successful.

One downside with local foreign currency FD account is their transaction fees will cost you an arm and a leg. To move money in and out, apart from TT charges, forex markeups are also another source of profit. In the end, one transaction in and another transaction out, you probably lose the entire 3.7% interest gained, say for a 1-year deposit.

I predict GBP will be almost same value as SGD in the future. Will lose a lot in value if buy GBP to put in FD

Yep. 500k x 2. But only for 3 mths I think.

Waiting for RHB announcement tommorow.

HLB also very quiet. For the better part of last year, I think they have the highest promo around...

Wait for tomorrow first lah. Today and tomorrow bank also not open. Lol