FIXED DEPOSIT

Latest Fixed Deposit / Time Deposit Interest Rates Promotion Offered by Malaysia Major Commercial and Foreign Banks May to June 2012. 
Presented by GenX GenY GenZ: http://generationsxyz.blogspot.com

Last update 9.18am 18 May 2012

Note: I'll be away for holidays and only be back in the second week of June 2012. Until then, happy hunting and playing the FD Musical Chair.

Since FD rates do fluctuate and banks having promotions frequently nowadays, I thought no point of starting a new blog just for FD since past history rates are immaterial to most of us. Therefore, instead I will post the latest and current Fixed or Time Deposit rates offered by Malaysia banks and latest promotional rates too here in this PAGE called FIXED DEPOSIT. 


I recommend you bookmark this page and visit this blog for the most comprehensive latest and current fixed deposit promotions in Malaysia.

Malaysia Major Commercial Banks and Foreign Banks Fixed Deposit / Time Deposit Rates as of April 2012.

Bank - FD rates for 1 month, 3 months, 6 months and 12 months. Click on the bank listed below to go to the bank's relevant site on rates. 

Affin Bank -  3.05%, 3.1%, 3.25% and 3.6% 

Alliance Bank - 3%, 3%, 3.1% and 3.25%. FD Gold 12 months 3.3% (Interest paid monthly).

AmBank - 3%, 3%, 3.15% and 3.2%. Am50Plus 12 mths 3.25% (Interest paid monthly, FREE PA).

Citibank - 2.9%, 3.05%, 3.1% and 3.15%

CIMB Bank - 3%, 3.05%, 3.1% and 3.15%

Hong Leong Bank - 2.9%, 2.95%, 2.95% and 3.1%

HSBC Bank - 2.75%, 3%, 3% and 3.15%

Maybank - 3%, 3.05%, 3.1% and 3.15%

OCBC Bank - 2.85%, 2.95%, 3% and 3.15%

RHB Bank - 3%, 3.05%, 3.2% and 3.2%. (Revised down January 2012).

Public Bank - 3%, 3.05%, 3.1% and 3.15%. PB Golden 50 Plus 12 months 3.25%.

Standard Chartered Bank - 2.9%, 2.95%, 2.95% and 3.15% (Revised down January 2012)

UOB Bank - 2.9%, 2.95%, 2.95% and 3.10% (Revised down on 15 December 2011)

From the above, HSBC 1 month FD rate is the lowest at 2.75%. The highest over the counter FD rate for 12 months is by Affin Bank at 3.6%.

Fixed / Time Deposit Promotions May 2012 
GenX GenY GenZ: http://generationsxyz.blogspot.com

Please call the nearest bank to reconfirm the rates (go to the bank website for bank contact number where you can also get the contact number of the branch nearest to you or you can click here to refer to some Customer Service numbers I posted for credit cards) before going to the bank to check if promotions are still valid.

AMBank FD Promo 16 May 2012 Until 30 June 2012. Minimum Fresh Funds RM10K and for SME RM20K.

12 Months FD - 3.9% (If apply credit card, you will get 4%).

Below are taken from AmBank Terms and Conditions:

The eligible interest / expected profit rate payment shall only be credited into the Eligible Customer’s Current or Savings Account upon maturity of such Fixed Deposit / Term Deposit.

The Fixed Deposit Promotional Interest / Term Deposit Promotional Expected Profit Rate of 4.00%p.a. shall only be accorded for a deposit placement on a maximum of RM200,000.00 for each Eligible Customer. Any Fixed Deposit / Term Deposit placement exceeding the aforesaid maximum amount(s) shall only enjoy 3.90%p.a. The Bank reserves the right, upon giving adequate notice to vary the said maximum amount during the Campaign Period.

The additional of 0.10%p.a and RM 50 cash reward are subjected to a minimum spending of RM350.00 for Gold Card and RM500.00 for Signature and Platinum Cards within two (2) months from the card’s approval date.

Click here to AMBank site for more Terms and Conditions.


UOB BANK Fixed Deposit Promotion May 2012 - Minimum Fresh Fund RM10,000

1 Month - 3.2%

3 Months Step Up FD - 1st and 2nd Month 3.2% and 3rd Month 4.2%. Average 3.53%


6 Month -3.5% (same as previous month's offer)

This time around, there is no 12 months FD Promo by UOB Malaysia.


OCBC Bank Fixed Deposit Promotion 1st April 2012 to 30 June 2012 - Minimum Fresh Fund RM10,000

3 Months 3.5%
6 month 3.65%

Below is part of OCBC Deposit Promotion until 30 June 2012. OCBC is also offering extra 5% extra for  I month Foreign Currency Time Deposit. And when I was drafting my article titled Australia Education, Term Deposit, Savings Account and Credit Card Interest Rates, I noted that OCBC Foreign Currency Term Deposit rate changes daily!  If AUD strengthen against MYR, the rate will go up and vice-versa. So always check the interest rate for OCBC Foreign Currency Account as what was quoted the day before may no longer be the same.


For further terms and conditions, click here.

Alliance Bank Fixed Deposit Promotion until 31 May 2012.

Alliance Bank is offering free gift for new to Privilege Banking and existing Privilege Banking customers with Hybrid Account.

There are several different packages and one of them is you'll get a 32" LED TV (they claim is worth RM1800) but you need to have combined deposit of RM500K and above. If you like Free gift and don't mind deposit X amount into CASA, check out Alliance website. 

For me, I prefer higher interest rates and earn hard cold CASH and I hate those promotions with stupid/insincere conditions requiring us to deposit X amount into CASA and earn miserable tier interest rates.

HSBC Malaysia 3 Months FD Promo for NEW Premier Banking Customers until 30 June 2012.

This promo is a trap - HSBC usually only offers "special" promo rates to NEW Premier Banking Customers. After the promo, PB customers will get board rates only and not eligible for future "pure FD" promos. And if your AUM is below RM200K, they will impose penalty. Anyway, for those who go sign up for HSBC Premier Banking to be eligible for the 3 months FD promo, think twice before signing up for their FREE HSBC Premier World MasterCard (click here to read more about it) or may you just end up paying RM50GST for nothing. 

OTHER PROMOTIONS

Some banks are also offering step up interest rates (with or without condition, e.g. some banks require that you deposit x amount in savings or current account), so you better average them out and I would think they still won't be able to beat Affin 12 months Fixed Deposit rate of 3.6%.

RHB Bank - Step Up Fixed Deposit Promotion up to 4.88% p.a. until 31 May 2012. Minimum Fresh Fund RM10K and need to deposit 10% into CASA.

RHB Bank likes to offer Fixed Deposit promotions requiring us to deposit certain amount in CASA for 90 days. From the above table, the average rate works out to be 3.6833% p.a. (nice number). But you got to note that you need to deposit 10% equivalent into CASA for 90 days. Assuming that the interest earned from your CASA account is negligible, and unless you can get another FD Promo where the rate for 9 months is greater than 3.6%, the "effective" interest rate for a year would be less than Affin Bank's board rate of 3.6% 

Hong Leong Bank Fixed Deposit Promotion April and May 2012. Need to Deposit 10% into CASA.


12 Month 3.6% (For Priority Banking Customers 3.7%)

For deposit above RM500K, the minimum 10% requirement to be deposited into CASA is not applicable BUT instead you need to deposit minimum RM50K into CASA.




CIMB Bank 9 Months Step Up FD Promotion

CIMB has joined the fray with 4.88% interest for marketing purposes. Like any step up interest rates, we must average them out. And for CIMB 9 months Fixed Deposit Promo for their Preferred Customers, the average works out to be 3.56% for 9 months. However, you are advised to check with CIMB if you need to deposit any money into CASA to be eligible for the promo.


SUMMARY

GenX GenY GenZ: http://generationsxyz.blogspot.com

This time around, UOB 3 months step up FD is better than OCBC but not for 6 months FD. And now UOB no longer offering promo for 12 months FD unlike in April 2012. But the good thing is AmBank is now offering 12 Months FD Promo at 3.9% (4% if you apply for their credit card and 1st year GST waived). Actually AmBank also offering 6 and 9 months FD Promo at 3.45% and 3.5% respectively until Mid June 2012.

For step up interest rates like the one being offer by RHB Bank where you must deposit a certain amount into CASA or CIMB Preferred step up 9 months Fixed Deposit Promotion, better you average out the interest rate and compare it with other banks' promotions. Most probably you will find that these step up FD promotions are wasting our time as it works out to be lower than Affin Bank's Board rates.

OTHER RELATED TOPICS

Want to know more about Foreign Currency Time Deposit and Australia Banks Interest Rates for Terms and Savings Account - click here to read my article titled Australia Education, Term Deposit, Savings Account and Credit Card Interest Rates. Kids can get up to 10% p.a. interest rate for their Savings Account!!! [Updated with link for tax info].

Click here to read my article titled Wealth Health Prosperity. There is nothing more important that  ever lasting happy memories and good health.

Click here to read my article titled Privilege Premier Priority if you have interest in wanting a Priority or Premier or Privilege Banking account with Alliance Bank, Citibank, Hong Leong Bank, RHB Bank or UOB Bank. As for OCBC Premier Banking, there is not much benefits in terms of credit cards and no difference if you have Premier Status or not.



In my other blog called My Credit Cards, I have an article titled Earn Pocket Money with Credit Cards where I showed how one can earn some pocket money by utilizing banks' offers of 0% Balance Transfer or 0% Installment Plan with Fixed Deposit or Time Deposit, that is if you have the money in hand prior to your transactions.

Click here to see comparison of credit cards issued with Premier, Privilege and Priority Banking and their benefits.

Click here to see Year of The dragon Chinese New Year Red Packets. Ang Pow photos include those from RHB Premier Banking, OCBC Premier Banking, StanChart Priority Banking  and   Golden Dragons from Citibank, Hong Leong Bank Priority Banking and Maybank Private Banking.