Comments on: Malaysia Bank Fixed Deposit Interest Rate

By: Wang

Wang — Tue, 31 Jan 2012 16:14:34 +0000

hi there, im looking into opening a normal savings account but I have no idea which bank. Will it makes a big difference between local or foreign bank? or please advise what are the things i should consider at. thanks

By: Kamsani Salman

Kamsani Salman — Tue, 24 Jan 2012 05:55:44 +0000

I am Singaporean. Can I save my money in fixed deposit in any of bank in Malaysia?.Thanks

By: Jerry 16

Jerry 16 — Fri, 06 Jan 2012 12:16:46 +0000

Now the highest Soo 4%’ so regret I didn’t put for 5 year for my fd

By: Jerry 16

Jerry 16 — Fri, 06 Jan 2012 11:44:25 +0000

I,m 16 n I keep my 5000 in hong leong child fd, 5%, I think is good enough, for 1 year. Now I get an average of 20 rm a month, n for a year, is about 240′. Now I hav another 5000′ can any1 recommend any bank with higher interest or u can tell me 2 continue to put in this bank. Or any other way to earn mor quick, tq, u can tell me on my facebook. jerry_tan96@hotmail.com

By: Kevin

Kevin — Fri, 06 Jan 2012 02:24:13 +0000

@suki chua, If want to compare, i think you should compare both method with the same capital amount. Then you can see by end of 12th month, which method gives you a better return.

By: suki chua

suki chua — Sat, 17 Dec 2011 03:10:49 +0000

hi, i’ve recently opened a fixed deposit account in MBB n not sure how they will accumulate $$ after 12 mths (i applied for 12mths)
i dont know if this calculation is correct but plz correct me if i’m wrong:
1st investment method :
Rm4000/12mth – 12 month due date @ 3.15% p.a.

period
(mth) deposit interest rate interest amt (RM) accumulative amt(RM)
1 4000 0.0026 10.50 4010.50
2 0.0026 10.53 4021.03
3 0.0026 10.56 4031.58
4 0.0026 10.58 4042.17
5 0.0026 10.61 4052.78
6 0.0026 10.64 4063.41
7 0.0026 10.67 4074.08
8 0.0026 10.69 4084.78
9 0.0026 10.72 4095.50
10 0.0026 10.75 4106.25
11 0.0026 10.78 4117.03
12 0.0026 10.81 4127.84
0.0315 127.84

2nd investment method :
Rm5000/mth – 1 month due date @ 3% p.a.

Period
(mth) Deposit Interest rate Interest amt (RM) Accumulative amt(RM)
1 5000 0.0025 12.50 5012.50
2 5012.50 0.0025 12.53 5025.03
3 5025.03 0.0025 12.56 5037.59
4 5037.59 0.0025 12.59 5050.19
5 5050.19 0.0025 12.63 5062.81
6 5062.81 0.0025 12.66 5075.47
7 5075.47 0.0025 12.69 5088.16
8 5088.16 0.0025 12.72 5100.88
9 5100.88 0.0025 12.75 5113.63
10 5113.63 0.0025 12.78 5126.42
11 5126.42 0.0025 12.82 5139.23
12 5139.23 0.0025 12.85 5152.08
0.0300 152.08

i can see that 1st method got higher interest rate, but most ppl said that 2nd method earns more interest $$ or more worth it? :/

thanks for ur patients ya

By: Darren

Darren — Mon, 21 Nov 2011 06:39:36 +0000

Dear All,

Fixed Deposit is in a different era now.
We are moving ahead to become more developed like Singapore, sooner or later.

In countries like Singapore/Japan/etc, insurance plays a vital role to provide risk-free savings appreciation. Ten or twenty years ago everybody that has cash flow will pour it into FD and earn some really handsome rates.

Sadly, FD rates is a downward graph, no matter we like it or not.
Current FD rate in Singapore: 0.1%~0.25%
Current FD rate in Japan: 0%

Only by insurance savings plan that we can RETAIN the rate while saving for our future. This is because insurance savings plan is CONTRACT based. They day you sign is the day the rate is fixed for you.

Wish to know more?

Drop me an email at darrenloke85@gmail.com
Great Eastern (the biggest Insurance company in Msia)
I’ll be more than happy to explain further or make a free quotation.
=)

By: ah loong

ah loong — Wed, 09 Nov 2011 09:55:26 +0000

if i got 1 million so what can i invest?

By: Fel

Fel — Tue, 08 Nov 2011 14:15:45 +0000

EON Bank no longer exist, website link cannot ba used =)

By: Nat

Nat — Thu, 13 Oct 2011 22:21:01 +0000

Hi Yap,
A question for you, I’m planning to buy a NZD bank draft in NZ (presently living in NZ), like to deposit this into a NZD FCA. As I do no hold any accounts in Msia, can I open a FCA with the bank draft? Heard a few restrictions re foreign currency account.
Thanks,
Nat