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FIXED DEPOSIT

Latest and The Best Fixed Deposit / Time Deposit Interest Rates Promotion Offered by Malaysia Major Commercial and Foreign Banks August and September 2015.
Presented by GenX GenY GenZ


Previously google deleted my other main blog "www.genxgenygenz.blogspot" (click here to read about it) and to my surprise it is back online BUT IT DOES NOT BELONGS TO ME!!! So there is nothing preventing google deleting this blog www.generationsxyz.blogspot.com too. So my advise to you is to also go bookmark my facebook account www.facebook.com/GenXGenYGenZ (and Like it too so you'll be notified of new postings) for latest updates by yours truly.

Click here to read my latest fiction novel Earn Free Gold Bars With Your Credit Cards. This article was written to benefit Fixed Deposit Fans and Credit Cards Users.

Last Update: 19 August 2015 - New AmBank, OCBC, RHB and Alliance eTD-i

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, I will update the latest and current Fixed or Time Deposit rates offered by Malaysia banks and the best fixed deposit interest rate promotion in Malaysia here in this PAGE called FIXED DEPOSIT. I recommend you bookmark this PAGE and visit this blog constantly for the most comprehensive latest and current fixed / time deposit promotions in Malaysia.


Malaysia Major Commercial Banks and Foreign Banks Fixed Deposit / Time Deposit Rates as of October 2014.
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 -  3.25%, 3.3%, 3.40% and 3.7% (Revised 18/7/14)

Alliance Bank - 3.15%, 3.2%, 3.25% and 3.3% (Revised 21/7/14). FD Gold 12 months 3.40% (Interest paid monthly).

AmBank - 3.15, 3.2%, 3.25% and 3.35% (Revised 18/7/14)

Citibank - 2.95%, 3.10%, 3.10% and 3.20%  (Revised 17/7/14)

CIMB Bank - 3.15%, 3.2%, 3.25% and 3.30% (Revised down 7/10/14) 

Hong Leong Bank - 3.05%, 3.1%, 3.2% and 3.30% (Revised 16/7/14)

HSBC Bank - 2.90%, 3.10%, 3.15% and 3.25% (Revised 16/7/14)

Maybank - 3.15%, 3.20%, 3.25% and 3.30% (Revised 16/7/14)

OCBC Bank - 2.90%, 3.00%, 3.05% and 3.25% (Revised July 14)

RHB Bank - 3.15%, 3.20%, 3.25% and 3.45% (Revised 18/7/14)

Public Bank - 3.15%, 3.20%, 3.30% and 3.35%. PB Golden 50 Plus 12 months 3.45% (Revised 16/7/14)

Standard Chartered Bank - 2.95%, 3.10%, 3.15% and 3.25% (Revised 23/7/14)

UOB Bank - 3.05%, 3.10%, 3.10% and 3.30% (Revised 18/7/14)

The highest over the counter FD rate for 12 months is by Affin Bank at 3.7%.


The Best Fixed / Time Deposit Promotions August and September 2015
GenX GenY GenZ: http://generationsxyz.blogspot.com

Please call the nearest bank to reconfirm the rates (go to the bank website to get the contact number of the branch nearest to you) before going to the bank to check if promotions are still valid.

Alliance Bank eTerm Deposit Promo - valid until end of August 2015.

If you are into eFD, go check out Alliance Website for their Islamic Banking eTerm Deposit-i promo.


AmBank 9 Months Term Deposit Promo - Valid until 30 September 2015. 
Minimum Fresh Fund RM10K for Individuals and interest credited into CASA



Hong Leong Bank 

MACH by Hong Leong Bank's FD Promo up to 3.85% and 4% interest rate for 6 and 9 Months ended on 31 July 2015. Now, their 12 months rate lower than Affin Bank's 12 Month Board Rate of 3.7%


OCBC Bank -  FD Promotion until 30 November 2015. Minimum Fresh fund RM5K

6 Months - 4%
13 Months - 4.2%



UOB Bank Merdeka FD Promos - until 30 August 2015. NO NEED SAVINGS ACCOUNT. Minimum Fresh fund RM10K

3 Months - 3.85% NO stupid CASA thingy.
5 Months - 4.0% NO stupid CASA thingy.
8 Months - 4.1% NO  stupid CASA thingy. 

Please check with UOB on latest promo rate as they are known to revised without prior notice. 


MAYBANK 3+3+3 Months FD Promo - until 28 August 2015.

Maybank Merdeka FD Promo minimum deposit RM25K and RM50K for individuals and companies respectively. Effective rate 4.07%.


PUBLIC BANK 6+6 MONTHS TERM DEPOSIT PROMO Until 30 September 2015 - Need to Open Savings or Current Account.



RHB Conventional and Islamic FD Promo until 31 October 2015 

3 Months - 3.85%
6 Months - 3.95%
9 Months - 4.10%



NON COMMERCIAL BANKS "SIMILAR TO FD" ACCOUNTS 

However, for those of you who are not into Fixed Deposit Promotions and or don't have the time keeping track of what is out there, check out Bank Rakyat's Deposit Account i "interest rates" which are very good and most time better than FD Promos!!! However, it has been reported that Bank Rakyat's dividend rate can be lower or higher than that stated in their website. So call their nearest branch to you for their latest dividend rate. And please note that your deposits with Bank Raykat are not eligible for PIDM.

To note, Bank Rakyat's website states that for deposits more than RM5K, you may be entitled to monthly dividend, so check with them on this. Also please note, many members at LYN reported that the monthly dividend was not be credited into their accounts automatically; but they had to call Bank Rakyat staff and remind them to credit the "profit" every month!!!



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MAYBANK Q-CASH FUND - Updated on 25 March 2015 with link to my article on Q-Cash.

For those of you who wants really short term deposit, i.e. less than 1 month. Go check out Maybank Q-Cash Money Market (similar to REPO).

Fund Minimum deposit RM50K

The Fund is suitable for Qualified Investors:
who have low risk tolerance;
who seek a regular income stream from their investments;
who wish to obtain a yield exceeding the Maybank Overnight Deposit Rate; and/or
who have very high liquidity requirement.

You can set the number of days you want your money in the Money Market Fund or just let it sit there until you want to withdraw. However, the cut off time for redemption request shall be at 10.30 a.m. on a Business Day.

To learn more about Maybank Q-Cash and the interest I earned for 7 days and 24 days deposited into it, click here to my articled titled A Little Bit Of This and A Little Bit Of That - Volume I, Chapter VIII.


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

Well, there are less and less FD Promos nowadays. For banks which are offering FD Promos in the month of August 2015, we are still able to get 4% above. UOB 5 months FD at 4% is really good.

For those who don't have the time to chase after FD Promos, you can always go with Affin Bank rate 3.7% interest rate for 12 months. 

For those of you new to fixed deposit, sometimes the banks will offer step up interest rates AND also may impose the stupid condition where we need to deposit x% into CASA. And the banks will mislead you by stating the effective interest rate for the FD step up portion only and ignoring the amount required to be deposited into CASA when they calculate the effective interest rate. Always go calculate the effective interest rate yourself (and if you do not know how to do it, better you don't go for FD Promos) and 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.

Below are the dates fixed for Bank Negara Malaysia Monetary Policy Committee Meetings for 2015: 

And I guess below info on Banker's Cheque Fee purely for FD Upliftment/Withdrawal (Do not combine with other accounts, i.e. Savings Account) may be beneficial to some of you. And please note we will be imposed extra RM0.50 for service fee effective 1st January 2015.

Affin - FREE
Alliance - FREE
AmBank - RM2.15
Bank Rakyat - FREE
CIMB - FREE, some people reported they were imposed RM5
Citibank - RM0.15
HLB - RM5.15 (PB Customers RM0.15)
HSBC - RM5 same day or RM2 next day (no RM0.15 Stamp Duty??)
Maybank - RM5 or RM5.15?
MBSB - FREE
OCBC - FREE
PBB - RM2.15
RHB - RM5.15
SCB - RM2.15
UOB - RM0.15 (Penang only?) or RM2.15 (in Klang Valley???)

Click here to read my latest article titled GET MORE FREE MONEY WITH THE RIGHT FIXED DEPOSIT PROMOTIONS. This article was written with the intention to benefit those who are new to Fixed Deposit Promotions and for serious FD Fans to earn extra money from discrete FD Promotions.

And if you want to know the quickest way get Fresh Fund to be eligible for Fixed Deposit Promotion without even leaving the bank where you are withdrawing your matured FD; click here to my article titled A Little Bit Of This and A Little Bit of That - Vol1. Chapter IV. In this article I will show you how to be eligible for FD Promo with fresh fund if you have a Current Account with Over Draft Facility (to be on the safe side). And the transfer fee may cost less than what your bank impose for a Banker's Cheque. Updated for new GIRO timetable showing cut off time for same day transfer.

Click here to my article titled A Little Bit Of This and A Little Bit Of That - Vol.1, Chapter VII where I will tell you the pros and cons of Certificate Type FD (e.g. HLB and MBB) versus Statement Based FD (e.g. OCBC and UOB). And after reading this article, you may only want to go with Certificate Type FD and not Statement Based FD or vice-versa. Also, I will tell you why you need FD, actually lots of it, instead of having many properties which are not liquid in order to prolong your life. What you can do to get funds to pay your mountain high hospital bills that prolong the life of your liveless boy that lays in the Intensive Care Unit. And because I highlighted the cons of Statement Based FD, I may have unintentionally taught an evil child how to con his parent(s) hard earned money!


OTHER RELATED TOPICS TO EARN YOU MORE BENEFITS or maybe not:

And if you have Alliance Bank Privilege Banking or UOB Privilege Banking or Maybank Private Banking status, click here and read about their Visa Infinite credit cards which are among the best credit cards for overseas transactions.
Click here to read my article Spending Children Future Inheritance so that you are brainwashed to gather as much fond memories for your old age and you not needing to try and dig yourself out of the grave to stop your children happiness.
To read my article - The Best Savings Account in Malaysia for Children, Parents, Adult and Grandparents too - click here to Malaysia Best Savings Accounts.

15 comments:

  1. Thanks so much...Any Idea for FCA (Foreign currency Account) Fixed Deposit?

    ReplyDelete
  2. jason, sorry got no clues on FCA.

    ReplyDelete
  3. hi GenX, very useful information.

    ReplyDelete
  4. Thanks KL. Just as a reminder, please sign up as follower to comment. Noted you Like it :)

    ReplyDelete
  5. Hi Genx, thank you for your time for these useful information.Could u also provide which banks with the convenience of internet banking?

    ReplyDelete
    Replies
    1. Fung, most if not all commercial banks now offer internet banking. But if you asking about FD offers for internet banking, check out frequently AmBank, Maybank and MACH by HLB. Most FD promos you have to perform the transaction over the counter.

      Delete
  6. Hello Genx,

    I am Deaf blogger like to thank for your information which is very useful! I planned to put RM 10K in FD, and won't withdraw it until 2016/2017. Which is one best FD bank you suggest for me?

    I think want to put Affin Bank for 3.6% (12 months) only, no need to make new saving account.

    Please advise me :)
    Selina Wing,
    http://www.selinawing.com
    http://www.deafboleh.blogspot.com

    ReplyDelete
    Replies
    1. Hi Selina, firstly I am allowing you to advertise your website and blog even tho you did not sign up as my follower. I still reserve the rights to delete your comment.

      Yeah, for convenient sake, just go with Affin Bank if there is one nearby.

      Say if HLB is nearest to you, they are offering 3.5% for 12 months (Islamic FD). So with RM10K, that's a difference of RM10/year only.

      However, if you were to go with Bank Rakyat where they are offering 4.25% for 3 years, you'll be earning extra RM65/year or less than RM5.50 a month. So if Bank Rakyat is like really convenient, you can also go deposit there.

      Delete
  7. Dear GenX,

    I love all your articles especially credit card, saving account, fixed deposit account. It helps me, make my finance lil bit better.
    Thank you!

    A quick question, I have RM20k to park, should I put into FD or insurance-investment? Which one has higher outpay?

    Desperately digging extra bit money to get foods and a roof to survive.. and enjoy life : )

    Thanks in advance to sifu.

    ReplyDelete
    Replies
    1. Dear aik, sorry for the late reply as I was overseas as mentioned in my last article dated 31 October 2013.

      As to your question insurance-investment or FD has higher returns, I can't answer because FD rate fluctuates with time. Moreover, they are completely different products. One thing about FD is you can withdraw anytime you want whereas insurance-investments your funds may be stuck until maturity, And there are like a million different insurance investment schemes out here but FD is FD. Seriously, I am in no position to advise you on how to invest your money; but, if you need someone to teach you how to spend money faster and going broke, I am an expect in burning money, hahaha.

      Delete
  8. Hi GenX, I am generation Y, hehe. Many thanks for your very useful website which I have just come across this morning. I learnt a lot from your blog. Really thanks man. :)
    I have a question though. I plan to save my money in FD, and I am undecided whether Affin or Hong Leong MACH or Bank Raykat is better. At first though I prefer MACH, because it is online, offers highest yearly FD rate (4%) compared to the other two banks, and nearest to my house. But I currently do not own any account in Hong Leong bank. Am I eligible to apply for MACH?

    If I need to open an account just for MACH, then perhaps I will switch to Affin (I also dont have any account there, hehe)

    ReplyDelete
    Replies
    1. KC L, I am glad to know you appreciate my FREE Tuition, hahaha.

      As for opening FD accounts with HLB MACH, Affin and BR, well you can open with all of them if you want! All you need to do is bring your NRIC and of course your money (can be cash or banker's/personal cheque payable to yourself, i.e. your name. If you want to transfer money via GIRO, you may need a Savings Account with that bank).

      Young people like you are into online stuff and as such MACH was designed by HLB to attract customers like yourself. And since MACH is nearest to you, just go sign up with them even if you don't have a HLB account. And by you dropping by a MACH booth (they are in shopping malls and even KLIA2), you will be able to find out more on how to deposit money and what you need to do in order to sign up for Online Banking.

      Just go try out each bank and with time you can decide yourself which bank suits you better, in terms of time and procedures.

      Delete
    2. Thanks again GenX. You're really resourceful. You've cleared my doubts. Yeah I will go find out from HLB soon. By the way I believe you don't mind me sharing your blog with my friends right? hehe.

      Delete
  9. Hi GenX.,I just want to thank you for your updated information on your blog. It has been very helpful.

    May i seek your advise which bank should i consider for a senior citizen 5 year tennure with better interest? Thank you.

    ReplyDelete
    Replies
    1. Jas, I've never bothered with 5 years FD; therefore I can't really tell you. Moreover, very seldom commercial banks offer Promo FD for more than 2 years. However, you can always nego with the banks and get slightly better interest rates on top of their board rates. And I'm sure you are well aware that most commercial banks Senior FD pays monthly interest credited into Savings Account.

      Delete

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