Nice, thanks for sharing. Suppose that I place RM 10000 in e-GIA with 3.6% promo rate, and select 12-month placement. When I uplift a day later, then I should get 1-day interest at this promo rate.

If I do not uplift this 12-month placement, do I still get monthly interest (for this placement) credited to my Maybank Saving Account?

What is the 1-month e-FD with the highest interest rate?

Phillip Master Money Market Fund is not suitable for me in this case, since I just need to keep some emergency money that I can withdraw, during weekend.

This post has been edited by kart: Sep 28 2018, 07:04 PM

After 1 month of placement upon maturity, we can uplift the 1 month efd via PBe online (without going to the branch), and gain 1-month interest, right?

That is good. It is better than AmBank Islamic eFD (Minimum Fund for 1 month = RM1,000, Rate: 3.15%p.a.), mentioned in the first post.


Thank you for your suggestion. I personally feel that the 3 options are not suitable for me. Then again, different people have different needs, and they may be suitable for other people.

Yes, if e-FD is prematurely uplifted, the interest is forfeited. But, attending to the needs of emergency is far more important than getting eFD interest. In the event of emergency, sometimes eFD interest may have to be sacrificed.

OCBC 360 Features:
0.5% - Base Interest (based on current Board Rate for Savings)
1.20% - Deposit minimum RM500 per month
1.20% - Pay minimum 3 bills via OCBC 360 Account using OCBC Online Banking portal (includes Standing Instructions for Loan repayment and OCBC Credit Card payment)
1.20% - Spend minimum RM500 on your OCBC Credit Card

It is no suitable for me, to pay minimum 3 bills and spend minimum RM500 on OCBC Credit Card, because I can get higher cashback, with suitable credit cards from other banks. So, I am left with 1.7% interest rate at best, which is inferior to the 2% interest rate of Maybank2u Savers.

Anyway, different people have different needs.

This post has been edited by kart: Sep 30 2018, 07:35 AM

Thanks. It seems that PBe eFD is a popular choice to keep short-term emergency fund. Thus, I shall choose PBe eFD.




This clause of clawing back the interest is not applicable for PB eFD tenure of 1 month, which is uplifted after 1 month later, right?

This post has been edited by kart: Oct 1 2018, 09:14 PM

With effect from 1 January 2019, most of the banks in Malaysia shall not pay any interest on partially withdrawn amounts and premature withdrawals of Fixed Deposit Accounts with tenure of 3 months or more, when at least half of the tenure is completed. Previously, in such case, half of the fixed deposit interest is given.

Why does Bank Negara Malaysia allow such condition to happen? It is really unfair for any bank customers who keep their money in fixed deposit with longer tenure, and helps the bank to maintain their profit.

Thanks for the clarification given.

What is the name of MBSB savings account that you opened?

Suppose that we cancel the MBSB debit card, one year later, to avoid paying the debit card annual fee. After the debit card cancellation, can we still use MBSB internet banking website as usual, such as to perform IBFT to other banks?

It is ok. Just share the information that you know, to the best of your knowledge. No worries.

Thank you very much for your answer, voonmingloo.

This post has been edited by kart: Nov 22 2019, 03:45 AM

Is it possible to open any of the following savings accounts instead?

a) Wise Saver Savings Account-I, with savings interest rate of 2.25% and Min. Balance of RM 10.00; or,

b) Cash Rich Savings Account-i, with savings interest rate of 2.68% and Min. Balance of RM 50.00.

Thank you for your help.

This post has been edited by kart: Nov 30 2019, 10:17 AM

Noted. Thanks, cybpsych.

Sorry, off topic a bit. Probably, there is a post or two at most regarding this matter.

David_Yang, after converting MYR into SGD, how do you obtain 1.9% of interest rate? Do you save your SGD money in fixed deposit in a bank in Singapore?

Kindly tell us the name of Singapore Bank, and the name of the banking product which you use.

Thank you for your information.

This post has been edited by kart: Dec 21 2019, 07:27 AM

Thanks for your reply, David_Yang and TheRant.

Alright, this is my last post regarding this matter, so that this fixed deposit thread does not go off topic any further.


Many of us have either CIMB Singapore FastSaver Savings Account, and/or Maybank Singapore iSavvy Savings Account, even though we did not travel to Singapore for account opening. Plus, we re not working in Singapore at all.

https://forum.lowyat.net/topic/1440794/

Please look at the thread of Opening a Bank Account in Singapore, and post your questions in that thread instead.

It is not encouraged to open a foreign currency fixed deposit account, in Malaysian bank. Refer to https://forum.lowyat.net/topic/512136

This post has been edited by kart: Dec 22 2019, 07:59 AM

Thank you very much for sharing your information, userA123. So, it boils down to the loan-to-deposit ratio, at branch level.

Based on your explanation, one of the ways to get slightly higher fixed deposit interest rate is to locate a branch whereby it has too many loans provided to its customers, but very little fixed deposit placement amounts and CASA amounts received from its customers.

As such, this branch will be very desperate for fresh fund from customers, to maintain proper loan-to-deposit ratio, so is more than willing to get HQ approval to offer slightly higher fixed deposit interest rate to customers.

For sure, as you said, it will not be easy to locate such branch.

For the placement amount of RM 1000, which e-Fixed Deposit with 1-month tenure has the highest interest rate?

Thank you for your information.

Yes, the interest is not much, but it is slightly higher than the interest from typical savings account.

I would prefer the small placement amount and short tenure. In case of emergency, I will not lose a lot when I uplift such e-fixed deposit with short tenure, in terms of lost interest due to premature uplift.

For sure, there are fixed deposit accounts with much longer tenure, for the sake of getting higher interest. Nevertheless, in case of emergency (for example, after office hour, or on weekend), e-fixed deposit with short tenure should be uplifted first.


Public Bank e-Fixed Deposit, 1-month tenure, RM 1000 minimum placement amount, 1.7% per annum.

Ambank Islamic e-Fixed Deposit, 1-month tenure, RM 1000 minimum placement amount, 1.6% per annum.


Is there any other bank that offers higher interest, for 1-month e-Fixed Deposit with minimum placement amount of RM 1000?

Thank you for your information.

This post has been edited by kart: Sep 20 2020, 09:35 PM

You are correct.

You may have read userA123's explanation before, but the quoted posts provide good insight to the those who are unaware.

This post has been edited by kart: Dec 12 2020, 09:16 AM

Sigh, the rate of 1-month Public Bank eFD drops from 1.7% to 1.5%, despite no change in OPR.

Normally, such fixed deposit is performed with "Either One to Sign" instruction. In an unfortunate situation of a demise of one joint fixed deposit account owner, the other joint fixed deposit account owner is still able to uplift the joint fixed deposit account, right?

This post has been edited by kart: Jul 5 2021, 09:47 AM

For the placement amount of RM 1000, which e-Fixed Deposit with 1-month tenure has the highest interest rate, higher than the interest rate of Public Bank?


Public Bank e-Fixed Deposit, 1-month tenure, RM 1000 minimum placement amount, 2.40% per annum.

Ambank Islamic e-Fixed Deposit, 1-month tenure, RM 1000 minimum placement amount, 1.85% per annum.


Thank you for your information.

https://www.pbebank.com/pbe/rates-charges/fixed-deposit


PB eFixed Deposit 1 Month Tenure Rate: 2.10% p.a
- effective 10 October 2024.


PB eFixed Deposit 1 Month Tenure Rate: 2.30% p.a
- was applicable from 31 May 2024 till 9 October 2024.


Even though there is no change in Overnight Policy Rate (OPR) by Bank Negara Malaysia, somehow Public Bank reduces PB eFixed Deposit 1 Month Tenure Rate from 2.30% p.a, to 2.10% p.a.


It may give the impression that it may be one of many methods used by Public Bank to raise capital to acquire LPI Capital Bhd.


Anyhow, Public Bank customers who have fixed deposit accounts are on losing side.