Just wondering why banks give a better FD rate for over the counter deposit. Online FD usually give a lower rate. I hate going to the bank looking for a parking space then waiting for a counter number.

Very True . I kena conned into buying unit trust by sweet talking lady. Having learned my lesson I will be more careful next time.

slightly off topic but i read in the Star today about income tax.

" He noted that there was an understanding between members of the Organisation for Economic Cooperation and Development (OECD) countries to share banking information through its Automatic Exchange of Information (AEOI) system.

“Through this information, we will know who has overseas bank accounts and whether they have come forward to declare their incomes or under-declared incomes,” he said."

My question is this..If I open an account in Singapore to earn interest from the FD there, will I have to declare it to the tax authorities. (Note: Money transferred there is legally earned in Malaysia and already declared on my annual income tax returns)

Thank you.
Not to worry. all my income hard earned and fully taxed.

MY FD in ambank was auto renewed at 2.05%. I wanted to redeem it and transfer to another bank so that on transferring back it is regarded as fresh funds.
For the last 3 days I have been unable to redeem it .. error message is .. "unable to redeem because of technical error. Please try again in a few days"

Anybody has this same problem.
Their helpline is grossly inefficient. To confirm my identity they asked me some security questions. The trouble is the questions they asked are not what I selected!!

Nope . all my FD done online