Malaysia Fixed Deposit Promotion March 2013

Hi guys, as of 1st March 2013, my main blog GenXGenYGenZ.blogspot have yet to be restored. Click here to read more about it.

However, this blog Fixed Deposit Malaysia was not removed by google even though it is registered under the same username as that of main blog GenX GenY GenZ. Go figure.

Anyway, for us who are into FD, here are some of the current Fixed Deposit Promotions for March and April 2013.

Hong Leong Bank - Islamic Bank Product

3.8% for 12 months is pretty good. The minimum amount to be eligible for this promo is RM5K. And for those depositing more than RM200K, ask your Relationship Manager on the FREE American Tourister Luggage Bag.

The Hong Long Islamic Bank Term Deposit-i Promo has been extended until end of April 2013.

OCBC Bank - Combo Plan

OCBC is once again offering Combo Promo Plan with 4.5% interest rate for 3 months FD. However, this time around, one needs to deposit 1/3 of the total amount into CASA which includes Smart Saver.

For those of you who are new to OCBC Combo Plan, this is how it works.

Condition for the Promo: At least half the placement of the FD amount is to be earmarked in a CASA account for 90 days.

So the most important thing relating to this promo is to deposit the above said amount in a savings account that pays you interest. And here is where OCBC Smart Saver Account will benefit you and optimize the returns from your deposit. See Smart Saver interest rates below:

 

The thing with OCBC Combo Plan is that you must do some work, i.e. go deposit at least RM50 in to the Smart Saver Plan every month. And the timing you deposit is crucial.

Say you have RM60K to deposit.

• Deposit RM40K into 3 months FD Promo at 4.5% interest rate.
• Open or top up RM20K into Smart Saver Account and earn minimum 2.75% interest rate with RM50 deposit monthly.
• Therefore the effective interest rate works out to be approximately 3.9%

However, like I mentioned earlier, timing is crucial. If you deposit in say mid of March 2013, that means if you were to withdraw the amount in the Smart Saver Account same time as your FD mature, you will only earn 0.5% interest rate for the month of June 2013 for the amount sitting in the Smart Saver Account; as such the effective interest rate for your initial deposit will drop like hell. And if you were to withdraw the said amount in the Smart Saver on July 2013, the funds in the Smart Saver Account will only earn you between 2.4%-2.9% for month of June. So the best time to go for this promo is early of the month (or maybe even the last few days of the month).

And if the total amount you are depositing is like RM10K, I would say don't waste your time. Because there are cost involve when you go deposit the RM50 into the Smart Saver Account and if you are unable/not willing to withdraw the money the same days as your FD matures.

Seriously, if you do not want to waste time, I would say the HLB Term Deposit-i is a better deal as you get 3.8% and 3.9^ for 12 months and 15 months respectively.

For more FD Promos, please visit my Fixed Deposit Page which is currently being updated at www.generationsxyz.blogspot.com, until my main blog is restore.... which may be never, hahaha.

NON Promotional FD Rates.

Malaysia Major Commercial Banks and Foreign Banks Fixed Deposit / Time Deposit Rates as of 1st March 2013.
Bank - FD rates for 1 month, 3 months, 6 months and 12 months.

Affin Bank -  3.05%, 3.1%, 3.25% and 3.6%
Alliance Bank - 3%, 3%, 3.1% and 3.20%. 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 - 2.8%, 2.9%, 2.9% and 3.05%
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 - 2.75%, 2.85%, 2.85% and 3.05%
RHB Bank - 3%, 3.05%, 3.1% and 3.2%.
Public Bank - 3%, 3.05%, 3.1% and 3.15%. PB Golden 50 Plus 12 months 3.25%.
Standard Chartered Bank - 2.75%, 2.9%, 2.9% and 3.05%
UOB Bank - 2.9%, 2.95%, 2.95% and 3.10%

Banker's Cheque Fee purely for FD Upliftment/Withdrawal (Do not combine with other accounts, i.e. Savings Account)

Affin - FREE
Alliance - FREE
AmBank - RM2.15
Bank Rakyat - FREE
CIMB - FREE
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???)

UOB Bank Fun Savers Children Savings Account

In December 2012, UOB launched their children savings account called Fun Savers.

The UOB Fun Savers Savings Account for children pays interest of 2.9% p.a. (as of December 2012) which is not to bad. You are allowed 1 FREE withdrawal a month and subsequent withdrawal in the same month is subjected to RM2 fee. The only thing I dislike about UOB Fun Savers is that it credit the interest half-yearly versus Hong Leong Bank Junior Savings Account which credit the interest monthly.

Want to know which is the Best Savings Account for Adult, Child, Dad, Mum, Grandpa and Grandma, click here to read my article on The Best Savings Account in Malaysia.

Maybank2U Savers - Maybank Online Savings Account

For those of you without children under the age of 18 years old (so that you are eligible for a Junior Savings Account to earn higher interest rates) or need a Maybank Savings Account, check out Maybank2U Savers which is a pure Online Saving Account that can only be opened if you are a Maybank banking customer and has registered for M2U online account.

I wanted to open a Maybank Basic Savings Account which earns nominal interest rates but was recommended against doing so. Instead the Maybank Exec recommended that I opened a Normal Savings Account for my purpose of linking all my Maybank Credit Cards to it in order for me to make payments online via Maybank2U.

And with a Maybank Savings Account, we may be issued a Maybankard Debit Card, and mine was a Platinum MasterCard where the 16 digit numbers ended with the number No.8, thanks to my lucky star. Initially, the first debit card the Maybank Exec wanted to give me did not have the number No.8.

I also applied for the Maybank2U Savers Online Savings Account which earns me minimum 2.1% interest rate with minimum deposit of RM2.5K.

HSBC 5% Term Deposit i Promotion Until 18 January 2013

An article by GenX GenY GenZ : http://genxgenygenz.blogspot.com

Please do not reproduce/reprint this article in whole or part in any form.

HSBC Bank is the first bank to offer Fixed Deposit or Term Deposit Promotion that run into 2013.

From now until 18 January 2013, HSBC is offering promotional dividend rate of  5% for their Term Deposit -i 3 Months Tenure, sounds great.  But since it is a HSBC promotion, just like their credit card promotions, we must always read the terms and conditions.

Here are highlights and parts of the Terms and Conditions of the HSBC Deposit Drive Promotion:

Standard Chartered Bank Up To 6% FD Promotion October 2012

Standard Chartered Bank Step Up 12 months tenure Fixed Deposit up to 6% interest promotion is back until 31 October 2012.

Mid last month SCB offered the same promo above; but it was only for a week and after it expired on the first round, they then announced the promo was extended the following week. This time round, at least they inform us upfront that the promo will last more than a week and runs till end of October 2012.

The average interest rate for the StanChart Up to 6% Step Up Fixed Deposit Promotion average out to be 4.01% which is pretty for 12 months tenure.

For those of you who are new to Step Up FD, the average Interest Rate of Standard Chartered Bank Step Up FD is calculated as follow:

Maybank Premier Mudharabah Account-i - Up to 4.75% Dividend

An article by GenX GenY GenZ : http://genxgenygenz.blogspot.com

Please do not reproduce/reprint this article in whole or part in any form.

Want to earn up to 4.75% Interest for month of November and December 2012? Check out Maybank Premier Mudharabah Account-i where you can earn extra 2% interest on top of current 1 month GIA-i dividend rate if you go open the account now and maintain minimum RM50K prior to 1st November 2012 and do not withdraw until after 31 December 2012. Please refer image below and take note that the 1 Month GIA-i Effective Rate changes mid month!!!

Below are the terms and conditions of the EXTRA 2% Promo

So what does the above terms and conditions mean?

1. If you go open a Maybank Premier Mudharabah Account-i today, you will enjoy extra 2% because the promo is based on incremental average daily balance comparing against the base outstanding balance as of 31 December 2011.

2. The 2% is only paid on incremental of RM1,000.

3. The 2% special dividend will only be paid a4 day s after the prom ends, i.e. 14 January 2013.

You won't get 4.75% for October 2012 if you open the Maybank Premier Mudharabah Account-i this month.

1. You need to maintain RM50K for an entire month and not do a single withdrawal to enjoy the 1 month GIA-i dividend rate of 2.75% (as of 15 October 2012). This means that if you go deposit anytime now, your money will only earn the tier dividend rate; but you still get the extra 2% for the month of October 2012.

 So how to earn 4.75% dividend (interest)?

2. in order to earn the 4.75% dividend rate in November and December 2012, you must deposit minimum RM50K before end of October 2012 so that you have minimum RM50K starting 1st November 2012. And with minimum RM50K maintained until 1st January 2012, you will earn the 1 month GIA-i dividend rate PLUS the extra 2% making it a total of 4.75% Please note, when depositing your fund this October, don't do it last minute as you may need the funds to be cleared.

To see more Fixed Deposit Promotions, please click here to my FIXED DEPOSIT PAGE

An Article by GenX
GenX Profile and Definitions of Words Used.

Want an Adult Savings Account that pays you minimum 2.1% interest rate (as of 1st November 2012)? Check out Maybank2U Savers Savings Account which is a pure Online Savings Account that can be opened via M2U for existing Maybank customers. Click below link to learn more on Maybank Debit Card that is issued with a Savings Account and the Maybank2U Saver Savings Account:

My Maybankard Platinum Debit Card for My Maybank Credit Cards and Maybank2U Savers

OCBC Booster Deals - Up to 5% Interest Rate for Fixed Deposit Promotion 2012

An article by GenX GenY GenZ : http://genxgenygenz.blogspot.com

Please do not reproduce/reprint this article in whole or part in any form.

OCBC Bank Malaysia Booster Deals runs until 31 December 2012 and consist of 4 promotions:

Savings Combo Plan -  3 Months Fixed Deposit with Promotion Interest Rate of 4%. 

Part of the the terms and conditions of the Combo Plan are as follow:

• Minimum Fresh Fund of RM10K to be deposit into the 3 months FD 4% Interest Promo.
• On the same day, deposit minimum 20% of the FD amount into OCBC SmartSavers Account or SmartSavers Junior Account. or OCBC Premier Save Gold Account. The amount deposited into these Savings Accounts MUST be maintained for at least 90 days. Actually, all the said 3 Savings Accounts offer pretty competitve interest  rates.

OCBC Premier 3 Months 5% Interest Rate Fixed Deposit Promotion

Part of the the terms and conditions of the Premier FD Promotion are as follow:

• Eligible for Premier Banking Account, i.e. must have minimum RM300K Assets Under Management with OCBC when signing up for PB status.
• Must purchase/participate in 3 new products such as opening a new current account, savings account, unit trust, retail bonds, Dual Currency Investment (DCI) and etc.
• The FD placement amount entitled to the 5% 3 Months FD Promo is subjected to maximum 50% of total Assets Under Management  or RM1 million.

Foreign Currency Deposit Promotion

This promo is straight forward, you get to enjoy extra 5% interest over existing interest rate of 1 Month Foreign Currency Time Deposit.

Fixed Deposit Purchase with Purchase Promotion

For this promo, you can get up to 5% interest rate for 3 Months FD subjected that you "purchase" minimum 3 products which consists of mainly Unit Trusts products.

For more information and the full Terms and Conditions of OCBC Booster Deals, please visit OCBC Bank's website.

Comments on the Combo Plan 4% 3 Months FD with OCBC Smart Saver Savings Account.