AhYap’s Blog

Posted in Intelligent Investing | 103 Comments

103 Responses to “Malaysia Bank Fixed Deposit Interest Rate”

1. on 12 Sep 2006 at 12:58 pm1soufulow

   Useful link collection, it seems AmBank got a lot of ‘action’ in the market and provides lots of deals better than others…

   by the way, there’s a broken link on HSBC one… fix it!

2. on 12 Sep 2006 at 1:58 pm2ahyap

   Thanks for the feedback. Link fixed now!

   I also dunno what to say about AmBank, I like them in terms on Interest Rate, but their previous \’body\’ is Arab Malaysian Bank and MBF. The word \”Arab\” doesn\’t sound good to me. And MBF had a few rumours that it will go bankrupt and people queuing up whole night to withdraw their money from the bank! Terrible scene which I witness myself. And it is true that their financial at that time was not strong enough. And end up it is being eaten by Arab Bank and become the AmBank now. MBF always lead in interest rate because the need money badly. And I think AmBank is inheriting the \’high interest\’ tradition.

3. on 15 Dec 2007 at 2:00 pm3teo

   If I want to put my money in the bank for fixed deposit, which bank I should choose?

4. on 15 Dec 2007 at 3:32 pm4ahyap

   Any bank that is near to your house. Interest rate is so low and similar to each bank that I really don’t bother the 0.1% differences. For me, I will use Maybank because Maybank2u now offer instand Fixed Deposit placement so you can do it online at your home! That really save a lot of time. You can also uplift your FD anytime online. Very convenient.

5. on 31 Dec 2007 at 11:43 pm5bendigi

   I want to deposit my money to AmBank FD call it Intrestplus FD, do you think it’s better ?

6. on 01 Jan 2008 at 10:37 am6ahyap

   @bendigi, there is a catch with AmBank Interest Plus and MegaFD high interest rate. For Interest Plus, you need to buy mutual funds with them, something like if you want to put RM10k in Interest Plus, you also need to buy RM10k of mutual funds. For MegaFD, you need to buy their life insurance in a lump sump. Same like interest plus, you can place RM10k of MegaFD after you buy a RM10k insurance policy. I have researched MegaFD before and find that the policy is actually very good when compared to other insurance companies (given that you can pay a lump sump at once instead of yearly).

7. on 10 Jan 2008 at 7:49 pm7Moli

   Wow.. great stuff here.. I came across this site by coincidence and I am glad i did. Can’t resist from asking if by any chance you can share your knowledge on Foreign Currency/Multi Currency Fixed Deposit.

   I notice some banks do not offer such. While those banks which do, unlike the normal fixed deposit rate which has 0.1% differences, it vary fr one another. Any comment?

8. on 02 Feb 2008 at 7:01 pm8Yonged9

   So is that better to save money in EPF instead of fixed deposit ?

9. on 24 Feb 2008 at 3:36 am9Alex

   where can i find the best investment rates that will give me around 20?

10. on 10 Apr 2008 at 8:23 am10DD

    Nice one .. I am actually looking for FD rates …
    Good info here ..

11. on 07 Jun 2008 at 11:39 pm11TT

    For Alex, best investment that can return >15% is actual your own business..

12. on 22 Jun 2008 at 1:53 pm12Vnthian

    ahYap,

    Any cooment on Foreign Currency/Multi Currency Fixed Deposit compared to local FD ?

13. on 01 Jul 2008 at 8:43 pm13mansoor

    hi, actually im looking for information about a fixed deposit account and what i get best intrest rate a year … reply me thanx

14. on 02 Jul 2008 at 12:03 am14AhYap

    Links to BankingInfo.com comparison table updated. Please click on the link again to compare newest fixed deposit rates.

15. on 08 Jul 2008 at 7:23 pm15Ally

    Ambank offer 13mths FD @ 3.88%p.a.? but it didnt seen in the website yet. huh???

16. on 14 Jul 2008 at 4:32 pm16sally chua

    how about the tax rate of the fixed deposit?

17. on 17 Jul 2008 at 1:30 pm17AhYap

    Any FD that is RM100,000 and above is subjected to 5% withholding tax (withhold directly by the bank). The loophole to avoid tax if you need to put more than RM100,000 FD is to place several FDs with smaller amount, for example, 5 x RM50,000 FD. So the tax is easily avoided.

18. on 08 Aug 2008 at 2:44 pm18atie

    hie there,
    i’m just passed by at this site then i found that its interesting knowledge can be share together. Did u heard about MBSB? This is a well established company that operating around malaysia. Actually its a subsidiary of EPF and it is a also a financial Institution. One of the product that offer by this co is FIXED DEPOSIT. The rate was attractive.
    its for corporate, individual and also for 49′ers club. for corporate & individual ,the rate given for 12mth are 4% and for 49′ers club, the rate is 4.15% upon maturity. To know much better about this co, You may visit their website at http://www.mbsb.com.my.

19. on 25 Aug 2008 at 11:51 pm19asanka lakmal

    need to now wich bank of malaysia give saving account for best
    interest….please send for my mail that all information

20. on 25 Sep 2008 at 3:24 pm20alex ng

    i need money
    i want money

21. on 04 Oct 2008 at 12:23 am21Eric

    Ah Yap

    Do you know that maybank2u can place FD, but if you cancel the saving account, maybank2u will automatic cancel and all your electronic FD will gone. is it true?

    Atie, is true that mbsb is offer high rate but only few branches in nationwide. the cost of petrol, toll and time already eat up what you earn in FD. Is it worth it?

    Do you know that PIDM only insure your account per bank to max RM60K only even you put in the same bank for RM100K (include of saving, FD, current, etc) in one bank. This mean the PIDM only paid you RM60K per name per bank. Therefore, do not put more then RM60K per bank per name.

    Do you know that CIMB give 7% (for one time FD) if you renew car insurance at CIMB. This offer until Dec’08. Unmfortunately, all the branches counter (exclude HQ) tellers also don’t know this offer. The customer service know but they don’t know how to activate. CIMB good in web site and move very fast but internal communication breakdown. Shhhh…

22. on 04 Oct 2008 at 12:26 am22Eric

    alex, go to borrow from Ah long because they only mau tolong.

23. on 14 Oct 2008 at 7:48 pm23Popeye

    What about if the bank go bankrupt?

24. on 16 Oct 2008 at 9:15 pm24amir

    this web is very useful..tanx for ahyap…

25. on 27 Oct 2008 at 10:29 am25Bill

    Hi Ah Yap, I have friends working in New Zealand now. They keep their money in New Zealand. I am asking on behalf of my friends. If they come back to Malaysia they are intending to put money in malaysia bank foreign currency fix deposit. The question is, can they purchase international bank draft in New Zealand and go to a malaysia bank and deposit in foreign currency fix deposit? Or is there any other options?
    Thank you in advance from Bill.

26. on 27 Oct 2008 at 12:39 pm26AhYap

    @Bill: That works but not efficient. The malaysia need to mail back the draft to New Zealand to cash it and it can take up to 1 month. The best way is to call the local bank (foreign bank like UOB is preferred) and have them open an account for you first while you are still in NZ. Then wired the money over and it takes only 1 day.

27. on 14 Nov 2008 at 6:21 pm27ahbeh

    heY, mr aYap….

    the fixed deposit for 1month is 3.0% …is it which means i put
    RM 40,000 for 1month,den the 2nd month i will get rm41,200 ?? ??

    regards_
    ahbeh

28. on 17 Nov 2008 at 11:47 am28AhYap

    @ahbeh,
    That way you will be very rich is a few years! LOL. You got to divide it by 12 leh, the rate you see is annual rate. So if 3 months is 3.1%, you got to divide by 12 and times 3.

29. on 17 Nov 2008 at 7:02 pm29ahbeh

    heY, mR. ahyaP…

    how can i earn extra $$ through ur site ? …. thanks a million !

30. on 23 Nov 2008 at 3:55 pm30jun

    wow..i just drop by and it sounds nice here…everyone seems busy earn money i various ways…erm..just a question here…wat’s the minumum placement for FD for 2 months?

31. on 26 Nov 2008 at 11:52 am31ayu

    i wanted to invest in FD. All this while i keep my money in ASB.
    So what do u think with economic situation – should i maintain in ASB or change to FD. Advise whick bank if offering attractive rate. Do we need to consistently top up our FD-eg – initial investment rm 2000 and we take 6 months. Do i need to top up rm 2000 every month till the 6th month or it is 1 time payment for the duration? Pls clarify. Thanks!!

32. on 28 Nov 2008 at 6:15 pm32sally chua

    pls. inform me the latest FD comparison 4 December FD Investment.

33. on 28 Nov 2008 at 9:07 pm33Sun

    MAA offer 5% with deposit at least RM 10,000 for at least a year with death insurance 125%

34. on 14 Dec 2008 at 5:07 pm34Gong Kia

    Wanted more return on interest rate over bank, go into your own business…Wanted to invest in Unit Trust or any other long term investment for better rates, consider Buying Stocks, coz KLSE is on ‘SALE’, with at least 30% discount to 75% discount, search for blue chip stocks. Buy when everyone is selling and sell when everyone buys. FD’s nowadays doesn’t attract much with average of 3.1% pa. RM100,000 for 3 mths, average at only RM25+ monthly, my bet is, if you can make or have that kind of money, RM25+ a month would not satisfy your thirst. I’m also lookin and searchin for months, last done with UOB was 3.42% pa for 3 month and then the rate dropped.

35. on 14 Dec 2008 at 6:38 pm35ahbeh

    any idea in forEx ? isit can earn $$ through tis ?

    thanks…

36. on 06 Jan 2009 at 8:13 pm36AhChai

    If I put RM1,000,000 in the bank and the bank goes bankrupt, how much will the bank give me back?
    Full amount or a limited amount fixed by bank negara?

37. on 31 Jan 2009 at 9:09 am37Sara

    Hi, AhYap.
    I am very new to financial market. Actually i wanted to know about FD. How they calculate? is it you keep ur money say 5K for 2 month then the bank will pay 2.5% interest
    when u withdraw end of 2 month which is 125 + 5K = 5125

    is it that the way to calculate??

    From Inonncent

38. on 04 Feb 2009 at 11:31 pm38nakan

    @AhChai
    All FD is guaranteed by PIDM and the guaranteed amount has no limit.

39. on 06 Feb 2009 at 11:26 am39thomas

    this is the first time to chat here. i dun think that now is a good time put money to FD. because of the interest rate is a lower. why we dun try to doing some invertment product… may can get back more dividend

40. on 18 Feb 2009 at 4:39 pm40nethan

    very nice site! guess all the banks are the same on FD rates
    Qn: anyone knows how often or when was the last time our central bank revised their interest rates ? thx much!!!!

    Sara
    your principal = RM 5,000
    Int Rate = 2.5% p.a.
    Tenure = 2 years
    your gain = 5000 * 2.5% * (2/12) = Rm 20.833333
    so you’ll have RM 5,020.83
    the key is the int rate is per annum and people tend to forget to factor that in when calculating their gains.
    a previous user commented to invest in bluechip stocks, my humble opinion is that no stock can now be considered as bluechip stock anymore , to buy when everyone sell and sell when everyone buys requires extreme attention to stock market movements and financial background.. and take heed that when you are thinking of taking your chance to sell or buy something your confident that will improve, many other people will be thinking the same and that will completely overwrite your chances of gaining anything from it. I’ve read over quite some articles concerning this crisis and the best advice i found was that “if you can preserve your wealth now, then you are ahead”

    (sry long post ><)

41. on 27 Feb 2009 at 8:43 am41pikachu

    Hi Nethan,

    I just browsed through this website when I am looking for best interest rate in Malaysia.
    Some correction on your calculation… it should Tenure = 2 MONTHS…

42. on 02 Mar 2009 at 5:17 pm42dan

    Hi AhYap,

    I read the article above and i am just wondering…what is the best way to save money? the best investment plan? i am a fresh graduate and currently trying to figure out the best way to manage my salary from my new job. can somebody help me with this….i am very confused about this. thank you.

43. on 09 Mar 2009 at 10:53 am43unknown

    Hi everyone helpfull people around this site,

    I would like to know lets say i have save some $ in FD a few month before the % of FD goes down. When it auto update/ renew will it affect my old FD % rate? Example:

    I save some sum in a few month back when it is 3% intress / annual, then now is 2%. when it auto update will the intress reduce to 2%? or still maintain 3%? If it reduce………..how about when the economy goes back up and the intress auto increase?

    I have some strategy here for some reader, if you all plan to invest in FD better put 1month by 1month if lets say you wanted to take up the $ then you do not have to worry about the loss of intress, lets say you left 5K in FD for 1 year and the intress is 2.5% then you suddently need the sum of amount during 3month. Then no intress will be given by the bank. But if you put 1 month by 1 month the intress you gain lets say 2% you at lease can gain back 0.5% of the intress for 3 month…..It is better then nothing.

    This site is very usefull for everyone thanks to AhYap!!!!
    Regards

44. on 09 Mar 2009 at 5:58 pm44phil

    Did you consider ING direct bank, they have usually very good interest rates.
    Thanks

45. on 14 Mar 2009 at 1:28 pm45WL

    learn alot at this site
    nice post
    thanks everyone

46. on 18 Mar 2009 at 3:51 pm46Shashi

    If i want to deposit my life saving of rm10k so far ,which is the best bank to do so..and which bank provides the best interest?

    Thanks in Advance
    Shashi

47. on 23 Mar 2009 at 5:00 pm47Mr. Wong

    Best is still the AIA saving products. Now is really the countdown for those products before AIA withdraw them totally. Here are the plans that we offer:

    8 years saving plan (higher premium)
    - Guaranteed return or 5% return from year 9 until you reach age 88
    - Non-Guaranteed return varies from 4% to 8% depends on the company performance (over last few years, we achieved double digits growth)

    10 years saving plan (lower annual premium)
    - Guaranteed return or 4% return from year 10 until you reach age 88
    - Non-Guaranteed return varies from 4% to 8% depends on the company performance (over last few years, we achieved double digits growth)

    Do give me a call so that I can show you how the plan works.
    Thanks
    Mr. Wong (012-3910954)

48. on 26 Mar 2009 at 7:22 pm48Rambo

    Dear AhYap d wise one_There are so many agencies offering solutions to making money via online currency trading ma, some even promote robots and some offer handholding till u make money, of course i’m kinda attracted to the simplest way of making money without staring pitifully into another soul’s pair of eyes ah. So, what’s ur best advise for my friends and me? Tx in advance

49. on 22 Apr 2009 at 3:04 pm49chua

    which website is for me to get information for malaysia fixed deposit rate from 1997 to 2009?

50. on 23 Apr 2009 at 11:45 am50ah moi

    Very interesting topic…everyone is talking about how to make more money! Is FD the most secure way of saving money? Thanks

51. on 30 Apr 2009 at 12:09 pm51Sang

    Hello AhYap,

    I just withdrawn & closed my FD account with Maybank yeartesday. Noted that the interest calculation is not a straight calcaluation as what we think.

    Eg. RM100,000 for 12 months FD with 3% annual interest, you will not get exact RM103,000 after 12 months maturity.

    Asked the bank executives (2 brands), and the answer given was “system calulated” . What is calculation formula, don’t know ???

    Actual MBB FD Records
    Year Principal Months Interest % Due Date
    0 64,526.47 12 3.70% 25-Apr-09
    1 66,909.46 (withdrawn on 29 Apr 2009)

    If computed manually, the principal balance after maturity should be ;
    1. 66,913.95 (64,526.47 * 103.7%) Delta 4.49

    Perhaps the discrepancy is related to number of days in a year (Feb Odd month). Just wonder if anyone know the exact FD interest computation formula ?

    Thanks.
    Sang

52. on 05 Jun 2009 at 12:48 pm52Joyce

    Thanks Ah Yap, this is a greate platform for people to share.
    Hi Sang, FD interest computation is denpending on the bank policy.
    Most bank are used total number of days for the period. Some compound the interest on quarterly, half yearly or yearly basis. Therefore, you may not get the interest amount straight from the inerest rate. In addition, if deposit amount is > RM100k, then the interest will subject to witholding tax…
    Just to clarify, PIDM guarantee your FD deposit up to RM60k per name per bank and not unlimited amount, please take note.

    To share with every one, it is not a good idea to save money in FD as the inflation is too high and the interest rate is not able to conter the inflation rate. Hence it is not able to grow your money. Plan wisely, invest into higher return investment to accumulate your wealth. Save regularly “sikit-sikit, lama-lama jadi bukit”. Let your hard earn money work harder for you….

    Regards, Joyce

53. on 16 Jun 2009 at 3:50 pm53KG

    HI. everyone. Just to share few things with you guys. With the FD rate had been revised to 2% and history had shown that M’sia FD rate is rally up to 3.8% only. Very crusial stages. Deposit rate is very low and inflation rate is mostly 6% which has reducing the percentage of our saving. Saving deposit in Bank is very encourage, but we can also look for other option to diversify our saving / money in other plan to generate more income, do agree? CHEERS

54. on 21 Jun 2009 at 4:41 pm54joe

    Hai.. just want to share.. i heard about this bank .. Bank Persatuan.. http://www.bankpstn.com.my give the highest fd rates.. is it true?

55. on 08 Jul 2009 at 12:34 am55ronaldtsc

    For my opinion,I suggest u guys to save ur money in insurance saving plan,which give u a benefit and interest,of course it’s a long-term investment.But bare in mind,what wil it happen if anything happen in between of ur saving plan,bank won’t pay any money to support your living..

56. on 05 Aug 2009 at 12:21 pm56eric

    HI,

    wonder why maybank int’l only one type of investment, whcih are FD only…

57. on 21 Aug 2009 at 7:36 pm57yaan

    Thank you… Can anyone please give a comparision of reputable banks which offer the highest interest rates for 3mths, 6mths, 9mths and 1 year at this moment?

58. on 02 Sep 2009 at 9:59 am58sue

    Hi,Just to give view..try to compare rate between FD and ASB.

59. on 24 Sep 2009 at 4:18 pm59zeus

    “28AhYap
    @ahbeh,
    That way you will be very rich is a few years! LOL. You got to divide it by 12 leh, the rate you see is annual rate. So if 3 months is 3.1%, you got to divide by 12 and times 3.”

    AhYap. You forgot one thing. The bank and customer will share the profit. It call Profit Sharing Ratio (PSR). Most likely the ratio will be 50:50 or 40:60 or 30:70, depends on bank PSR. If we take example 30(bank):70 (customer), the calculation should be:

    your principal = RM 5,000
    Int Rate = 2.5% p.a.
    Tenure = 12 month

    you gain per monthly:

    5000 * 2.5% interest rate = 125
    125 / 12 month = 10.416
    10.416 * (70/100 (PSR)) = 7.29#

    for 1 year:

    7.29 * 12 month = 87.48

    so you’ll have RM 5,087.48 in your account after 1 year.

    Another thing, anyone get income (salary, dividen, interest, royalties, rent…bla..bla..bla) more than RM2501 per year, should pay individual tax. The percent ratio most likely:

    RM2501 p.a = 1%
    RM50,001 – RM70,000 p.a = 19%
    Exceeding RM250,000 p.a = 27%

    p/s: correct me if i’m wrong…

60. on 24 Sep 2009 at 6:25 pm60sunil

    guys i think the best fd rate now is RHB bank MAx FD3, which gives u your int in 4 tiers , eg: first 2 months 2.1% , 3rd n 4th 2.3% , 5 n 6th 2.4%, and 7th n 8month is 3% .

61. on 03 Oct 2009 at 8:25 pm61comesunny

    Im Singaporean.Can I save M$1million in any bank in Malaysia?

62. on 12 Oct 2009 at 1:49 pm62baskaran

    Looking for higher interest rate, since all bank in Malaysia only able give 2.00% interest rate only. Please advice, Thank you

63. on 14 Oct 2009 at 7:18 pm63Henry

    Hi fellow investor.
    My name is Henry and i am an insurance agent representing Manulife.
    Currently Manulife is offering a very interesting investment/saving plan known as The PremierSaver, which rewards investors with a higher return than any existing FDs (Since the company introduced it as a product to counter all existing FDs)

    If any of you is interested to gain a higher return on a low risk investment, please feel free to contact me at 016-9298919

    Remember, if we fail to plan for our finance/saving, then we plan to fail!

    Thank you and best regards

    Thanks

64. on 07 Nov 2009 at 8:28 pm64joseph T

    Hi ,
    I have a relative with severe chronic illness , need long term medical care and nasal feeding for nutrition. Is there a possibility of setting up a Trust Fund that has high interest rate so that the intertest rate earned can be used to pay the feeding nutrition?

    If so How much principle required and what % will it be?

    Thank you

    Joseph T

65. on 09 Nov 2009 at 4:16 pm65Jeff

    Hi

    Saving in FD is good but please be aware that the inflation rate is so much higher than the FD rates. It would be advisable to diversify your investments into categories such as stocks, properties and perhaps ASM, ASB, ASW etc.

    If you have a lot of money in FDs, maybe you can consider paying off a lump sum of your debts for your properties or credit card. I have done that for my apartment and save a lot of loan interest for it as compared to generating 2.5% with the same amount of money in FD. What do you think ?

66. on 13 Nov 2009 at 6:21 pm66emanuel ikiomoye

    i want to open fixed deposit account but i dont know the bank to open the account first i want to know the bank with the higest interest rate to determine which bank i will runing wit

67. on 16 Nov 2009 at 10:05 am67Joyce

    Hi Mr Emanuel,
    I am Investment Consultant from a Malaysian Bank. Email me @ joyce_28@streamyx.com if you need advise on banking matter.
    Best regards
    Joyce

68. on 01 Dec 2009 at 3:41 pm68jfyong

    Anyone out there know how Bank calculate the maturity date for FD deposit. Hong Leong Bank set their maturity date accordingly to working days so if there is a number of public holidays in a particular month the maturity period is extended accordingly. Is this method “legal” and is a bank practise? Example if you placed your FD starting on 15th of the month and the following month 15th and 16th is a public holiday the maturity period for a 1 month tenure is 17th and not 14th or 15th as it is the norm.

    Feel Cheated

69. on 01 Dec 2009 at 9:05 pm69AhYap

    Don’t worry, they will add back that 1 day interest to you, but that would be enough to buy kacang puteh I think since FD interest rate is so low.

70. on 02 Dec 2009 at 7:58 am70jfyong

    How right your are. So with such previaling situation whats your take on our economy and which investment instrument is most suitable and appropriate to given decent returns

71. on 19 Dec 2009 at 4:06 pm71Adam

    Hi Ah Yap,

    I notice from AmBank’s website that their interest rate for InterestPlus FD is 33.2% p.a. for 1 month tenure. So, does this mean that in 1 month I could get 2.76% in return? But the only catch is that I have to buy in equal amount of their Unit Trust. Is their Unit Trust perform as good, if not better, than other local banks? Thank you, Ah Yap.

72. on 21 Dec 2009 at 2:43 pm72sin

    Hi, can anyone comment abt Ambank’s top rate FD which divided by 3 type i.e. Weekend rate, week-days rate & senior citizen rate?

73. on 09 Jan 2010 at 3:21 pm73angel

    may i know do u know which website u get the information about interest rate and the saving account together in a same timetable in bank negara for monthly?
    i try to get from bnm web but i didnt get much of it.

74. on 20 Jan 2010 at 7:43 pm74Derek

    Hi guys, i am Derek from AXA AFFIN as a Financial Consultant.

    Here are a better saving plan than Normal Bank FD.
    Even Normal Bank FD cannot give you a guaranteed interest in 10years or longer. 1997 Malaysia interest rate are 9.33%p.a 2009(Jan) 3.00%p.a 2009(Apr) 2.50%p.a in this case do you think in future the interest rate will increase or decrease? Think wise and think about future.

    2010 new saving plan (Maxxsaver)Plan Key Benefit at a glance
    - This is a 6-year limited pay participating endowment
    - Guaranteed cash endowment starting from end of 1st year
    - Potential upsite from non-guaranteed cash dividend starting from
    2nd year
    - 3 option for cash endowment and cash dividend
    - 4 plans to choose 15,20,25,30 years insurance coverage term
    - Double your guaranteed income every 5th year

    [Plan maxxsaver 30years term]
    Lets say MR.A save RM14,220 get guarenteed cash RM1,800 on the 1st year.
    1st year Save RM14,220 Get RM 1,800
    5th year Save RM14,220 Get RM 3,600
    6th year Save RM14,220 Get RM 1,800
    Stop saving after 6th year but still enjoy the guarenteed cash RM1,800 and every 5th year RM 3,600
    -Guaranteed income = RM64,800
    -Cash dividend = RM35,400
    -Maturity =RM 85,320
    -Total return =RM185,520
    -Total accumulated return =RM308,885

    http://www.axa-affin.com/axa-affin/axa-affin.nsf/Content/Main

    Min saving RM2,500 anually. Choose your own amount of saving.
    For those interested feel free to email me or contact me. I will provide all information in black and white document with quotation. Email or sms me (AXA SAVING) derek_axa@hotmail.com Contact number 016-715 7150 DEREK EE

75. on 21 Jan 2010 at 1:30 am75Ita

    Dear Ahyap and all..
    Nice to have this website..
    I just heard about gold saving (like investment-May Bank did have)? Can anybody explain for me.
    Many thanks.

76. on 29 Jan 2010 at 9:54 pm76caren

    dear yap,

    if i would like to take up a house loan now, which bank should i take the loan from. which bank offer the best deal nowaday.

77. on 08 Feb 2010 at 7:26 pm77Lawrance

    Hi all,
    For your all information, I do provides Housing Loan, Personal Loan, & the Higher Return on Saving in terms of retirement or future capital growing with peace of mind, to meet your own needs, which is can custom made to your own personal needs.
    Kindly drop me a mail at “lawrancehla@gmail.com” or “lawyms1@gmail.com”
    you may MSN with me “lawyms@hotmail.com”
    or contact me, +6012-4633467
    Regards,
    Lawrance, from Hong Leong Group

78. on 11 Feb 2010 at 3:09 pm78Starchild

    hahaha…typical. i clicked on Maybank link & was told the page don’t exist.

    yknow MB website is so bad, that to find smthg on their page, it’s actually easier to Google it > get the MB page link > go to that page. Site Map also tak guna. wthell…

79. on 23 Feb 2010 at 11:40 pm79ytechcity

    GREAT, I am just looking for FD rates …

80. on 02 Mar 2010 at 5:39 pm80Leng Lui

    Hi. I’m a fresh Grad.
    I start working few months ago. I have savings of RM3000 now.
    I am thinking of separate the “savings” account from the normal saving account that company used (they bank in salary for us). Ciz if the “savings” & expenses account in same account, i worried my money gone very fast.
    I plan to open a new “savings” account in a new bank with highest interest rate, any suggestion?
    Coz after open this new account, i will bank in RM500 into it every month after i got my salary.
    ANyone to advise me? thank you very much.

81. on 05 Mar 2010 at 9:10 pm81AhYap

    The interest rate is too low today. Saving under the pillow is not much different than saving in the bank. Say you have RM6,000 in an FD. That RM6,000 will only give you RM150 interest at 2.5% (might as well save an extra Rm12.50 per month!). So it is more important that you save than to fixate at the interest rate. Any bank account will do the job well.

82. on 05 Mar 2010 at 11:30 pm82Fara

    Hey there Ah Yap,

    I’m currently looking for a bank for home loan. (urgent!) Right now I’ve shortlisted HSBC and AmBank in my list. Which one do you think is better? Do they provide fixed interest rate? Coz i heard that some home loan have their interest increase over years. (which i dont want)

    Secondly, if my home loan is 230k and i need a bit of extra money for the renovation and furnishing (let say increase the loan to 270k), is there anyway that i can request the bank to top it up a little?

    Hope you can assist me on this. Thanks!!!

83. on 06 Mar 2010 at 12:24 am83AhYap

    @Fara, glad that you asked because from experience, HSBC and AmBank do not provide the most competitive loan package. When you need a home loan, do more homework and ask more banks like you are doing shopping! Shop with a few more banks. Usually the most competitive banks in interest rate and offers are Public Bank, Standard Chartered and UOB. Go shop at these banks. If you are hard working enough, ask Hong Leong and CIMB as well. You can forget about MayBank (lousy bank) and HSBC (expensive). When I refinance my house I really do ask almost all banks. Alliance, EON … all I asked.

    Your payment per month is fixed but your interest rate is not. So if interest rate go up (which is guaranteed since interest rate is so low now), you still pay the same amount but you need to pay it more times (longer). But some foreign bank do increase your payment per month when interest rate go up. Islamic loan usually are fix rate but that rate is usually 2% higher than normal non-fixed rate. That means even those that are very faithful to Allah will still choose normal loan since no one what to argue with their wallet.

    If you are great saver and have strong cashflow. Do look for a kind of loan account which is attached to a current account. When you have extra cash, you can put that money into the current account to offset the loan interest. Public Bank call it Home-Save, Alliance and EON bank also have.

    You can usually fund your MRTA with the loan but for renovation and furnishing, sorry, no such deal unless you are buying a second hand house instead of a new house. But you still need to do it creatively. You will need to pakat with the seller to mark up the selling price to RM300 and borrow RM270. You may need to buy the seller KFC. The keyword “creativity”.

84. on 09 Mar 2010 at 1:41 pm84Derek

    Hi leng lui, you mean u going to save rm500 every month?

    2010 new saving plan (Maxxsaver)Plan Key Benefit at a glance
    - This is a 6-year limited pay participating endowment
    - Guaranteed cash endowment starting from end of 1st year
    - Potential upsite from non-guaranteed cash dividend starting from
    2nd year
    - 3 option for cash endowment and cash dividend
    - 4 plans to choose 15,20,25,30 years insurance coverage term
    - Double your guaranteed income every 5th year

    If every month u can save RM400 = 1 year RM4800
    Normal bank F.D 2.5% x RM4800 =RM120 p.a
    Maxxsaver Save RM4800 annually get guaranteed cash RM600
    Every 5th year get double = RM1200
    5th year save RM4800 get RM1200
    If you need more information contact me or email me 016-7157150(Derek) derek_axa@hotmail.com. I will show you black and white document.
    http://www.axa-affin.com/axa-affin/axa-affin.nsf/Content/Main

85. on 13 Mar 2010 at 1:14 pm85gomo

    i put rm 5 k in fd in publicv bank for one mont.so,how much i l get by one year?very new in this….thanks

86. on 13 Mar 2010 at 2:05 pm86AhYap

    Yearly rate for 1 month = 2.25%
    If you put only 1 month = 5,000 x 2.25% / 12 = RM9.375 interest
    Not even enough to park at KLCC.

87. on 13 Mar 2010 at 4:42 pm87Fara

    Hey there Ah Yap, thank you for the tips. It helped a lot. i scouted around for every bank near the city and found the best deal. In the end Public Bank wins with the best deal

88. on 14 Mar 2010 at 6:14 pm88Tang

    Hey guys, current FD rate is too low to be considered as an investment vehicle. I suggest to look for other alternatives like, properties, gold, shares or mutual funds, foreign currency deposites, but definitely not insurance policies (even investment-link policies) which easily 30% or more of the our money is deducted as agents commissions. Cheers.

89. on 14 Mar 2010 at 8:38 pm89mtsen

    latest updated rates can be found in the top right corner at malpf.com they even give out a free widget that you can put at your own site/blog to show the latest rates.

90. on 15 Mar 2010 at 9:05 am90jfyong

    fd maybe low but at least it is safe. other investment has risk and even though may generate more return but there is a possibility that you may also lose your capital. anyway bank negara is expected to raise the interest rate again.

91. on 15 Mar 2010 at 6:41 pm91Joyce

    FD also got risk…. the risk is the interest rate (2%) is not able to counter the inflation rate (>6%). So, your money dosn’t grow but it eat into your capital. Think about it and invest your money wisely ! Otherwise, your money is not working hard for you…. on the other hand you work very hard for money…

92. on 15 Mar 2010 at 7:12 pm92Leng Lui

    omg, then what should i do with my money? My fren who work in mutual fund company claims that MUTUAL FUND not really as “good” as what we think.
    Perhaps i should go for share?

93. on 15 Mar 2010 at 11:42 pm93Joyce

    Mutual Fund and share are investment vehiche, the risk can be minimixe if you know how. Invest if you’re comfortable and expert in. I have been using mutual fund to grow my money in many years….. find an agent who can give you proper advise in entry and exit point while investing.

94. on 17 Mar 2010 at 9:28 am94jfyong

    risk refers to losing your capital…so fd does not fall in this category. of course there is the issue of inflation which affects ALL investment irrespective of the type of product . the different is that with fd at least your capital is protected.

95. on 17 Mar 2010 at 3:23 pm95miyo

    i hd bought an apartment at subang bestari.it cost me rm 120,000.
    may i ask which bank hv the lowest housing loan?tanx a lot.

96. on 19 Mar 2010 at 1:53 pm96DC

    I heard there are some good investment plan from Hong Leong Bank. Deposit RM5k and get RM1k a year… but your money will kena locked in for some time(Unsure). Now all bank FD are inconsistent as the range are from 2.4-2.75% Then got so many bloody plans. Why they don’t make a single plan to be beneficial for citizen? Haih… ~.~

97. on 20 Mar 2010 at 1:37 am97DonWOng

    Does anyone know what kind of investment products do citibank, OCBC and Hong Leong are offering at the moment? Request for terms and condition and past annual performance of their products.

98. on 20 Mar 2010 at 10:36 pm98Joyce

    FD can loose out your capital if inflation is higher than interest rate. eg. RM100,000 in FD paying interest 2% p.a. and if inflation at 6%. after 1 year your RM100,000 can only buy RM96,000 worth of goods as inflation already eat into your capital. Think about it….

99. on 21 Mar 2010 at 12:41 am99MTan

    Hi there! Ah Yap,
    Recently, I found out that EON Bank has this home loan package that is pegged to the fixed deposit rate, something that is unheard of. Any disadvantage or advantage of this type of home loan (FDR base) compare to BLR base home loan?

100. on 21 Mar 2010 at 10:44 am100Winson

     Hi Yap,

     I’m a Singaporean and my wife is a Malaysian, have intention to deposit some cash in FD at any Malaysia’s Bank. Any idea how to send the cash over due to some restriction set by both countries for me to bring cash over to Malaysia.
     Moreover, we also intend to buy a property in Malaysia, however, banks won’t loan to my wife. She is working with her family member for 1 year plus, with no EPF and Income Tax deduction. Please kindly enlighten us on the above. Thanks

101. on 21 Mar 2010 at 2:30 pm101AhYap

     Almost similar. Locked to FDR rate has advantage because bank can up the BLR a lot but keep FD very low. So if you have extra money you also can’t reduce your borrowing cost if that happens. On the other hand, if it is locked to FDR, whenever you have money, and put it into FD then your borrowing cost is reduced to 2% if you are taking FDR + 2%. But the best way is still to use a “current account linked” home loan. This way, you can offset it fully by putting extra money into the current account [but these account cost your extra RM120 fee each year].

102. on 21 Mar 2010 at 2:34 pm102AhYap

     @winson, hmm, I think if you are buying on a joint name basis with your name included, you can use your singapore tax return. But if you use only your wife name, it is almost impossible without tax return. Money can be bring in and out easily lar, Malaysia is bolehland, and I understand Singapore is kiasu land, when you are in Malaysia, think the Malaysian way. [All Singaporean pay saman in Singapore, they never pay in Malaysia].

     There are restriction on cash that you can bring but I have never seen them check at all. But if the amount is too big, you just telegraphic transfer it and pay the bank some fees. Some money changer also do that but it is illegal.

103. on 21 Mar 2010 at 11:14 pm103MTan

     Hi! Yap, thanks a lot for your tips.

Leave a Reply

Name (required)

Mail (hidden) (required)

Website

Notify me of followup comments via e-mail