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:



(2.98+2.98+2.98+3.38+3.38+3.38+3.68+3.68+3.68+6+6+6)/12 = 4.01%

If you noted, SCB advertised their promo highlighting - It's Good to get one of the highest rates in town. See, they did not say it was the highest but one of the highest.

Well, with average 4.01%, it is about the same as Bank Rakyat Qiradh General Investment Account-i 12 Months tenure board rate. The difference is that the SCB promo being a fixed deposit product, you are guaranteed to interest quoted versus Bank Rakyat's Qiradh General Investment Account-i product which is based on profit sharing and the dividend rate quoted is not "guaranteed".

In respect of the above, SCB should have advertised - It's Good to get the highest average interest rate for FIXED DEPOSIT in town, haha.

Click here to learn more about Bank Rakyat Qiradh General Investment Account-iaccount which may also pays you monthly dividend at 4.01% for 12 months tenure.


For more latest and highest Fixed Deposit interest rates up to 5% in Malaysia, please click here to  my FIXED DEPOSIT PAGE which is constantly updated with new FD or Time Deposit Promotions.