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. 

Malaysia Best Savings Account

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

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

Everyone one of us need a Savings Account, more so nowadays as we can perform transferring of funds and make payments online. And most banks issue a Visa or MasterCard debit card together with a Savings Account which also serves as an ATM card to allow us to withdraw cash.

With a Savings Account together with an Online Account, we can pay our Telco bills, Utility bills, Credit Card bills, top up prepaid mobile phone account and even pay our income tax without stepping out from our home anytime. So, it is best that we can get a Savings Account that pays us interest while our money is waiting to be used. 

However, some banks impose a fee for maintaining a Savings Account, and if they don't, the interest you earn from the basic savings account is really pathetic.

Generally, Kids or Juniors Savings Account offer higher interest rates compared to general savings account for adults. The good news is, there are some savings account targeted at working adults in the market that gives you interest rates close to 1 month tenure FD.

I have published an article titled The Best Savings Account in Malaysia at my main blog and have prepared several tables for your easy reference. Some of the good savings account in town are:

Bank Rakyat Qiradh Similar to Fixed Deposit Product

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

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

Did you guys know that Bank Rakyat offers products similar to Fixed Deposit with interest rates higher than most if not all commercial and foreign banks' Fixed or Time Deposit board rates?

For example, as of October 2012, Bank Rakyat  Qiradh General Investment Account-i 12 months tenure dividend rate is 4.01%. Not only that, you can even opt for monthly dividend is you deposit a certain amount. 

However, since Bank Rakyat is a non-commercial bank but actually a cooperative-bank backed by the government of Malaysia, it does not offer current account facilities. 

And from what I understand from Laws of Malaysia - Bank Kerjasama Rakyat Malaysia Berhad (Special Provision Act 1978), Bank Rakyat staff are considered to be civil servants - click here and see Clause 26.