FD Rates paid monthly...

Old Apr 21st 2018, 12:33 pm
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Default FD Rates paid monthly...

Hi Chaps,

Looking for any pointers to a Malaysian bank, with a good FD (term deposit), rate, say 24 months...that, pays out t..he interest Monthly
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Old Apr 21st 2018, 1:39 pm
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Default Re: FD Rates paid monthly...

I know that you can get this with Islamic deposits.
The equivalent to interest rate is called 'profit rate'.
CIMB had one @ 4.2% a couple of months ago. Paid out monthly.
Maybe you'd have to become a preferred customer to get this. (Minimum 200 or 250kMYR in assets with the bank.
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Old Apr 21st 2018, 2:40 pm
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Default Re: FD Rates paid monthly...

Thx Gunnar, I wonder what "Profit rate" was, that clears that up, I thought it was something to do with a trust...4.2 is good, ill be happy with that at a monthly over 24 months...
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Old Apr 21st 2018, 3:02 pm
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Default Re: FD Rates paid monthly...

CIMB will probably only do 12 month. And many banks offer the monthly interest only to old people. Non-preferred rate is 4.1%. Also note that some banks will refuse MM2Hers as customers.
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Old Apr 25th 2018, 9:27 am
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Default Re: FD Rates paid monthly...

MM2H Fixed Deposit must be annual basis.
Annual interest rate is also the highest.
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Old Apr 30th 2018, 7:26 am
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Default Re: FD Rates paid monthly...

Great promo from AmBank going on.

4.5%, 36 months, interest paid monthly.

Minimum amount 100k, minimum age 49.

But AmBank often refuses MM2Hers als customers.
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Old Apr 30th 2018, 7:54 am
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Default Re: FD Rates paid monthly...

I have a FD at CIMB, linked to my credit card. This one just had the annual renewal. Interest rate went down from 4.1% to 3.35%. 12 months fixed. And I am a so-called CIMB Preferred Customer.
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Old Apr 30th 2018, 3:37 pm
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Default Re: FD Rates paid monthly...

Thanks for the info, Sushi-Fan!

My CC FD @CIMB also matures very soon, last year it also was 4,1%. At least it is only 10k, because only for the CC limit. I will talk to them in advance.

The "normal" FD promo rate from CIMB now is 4,25.
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Old May 1st 2018, 7:59 am
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Default Re: FD Rates paid monthly...

I haven't checked the conditions for that 4.25% promo. It could be that it applies to new customers only.
The CIMB online banking site provides a graph which shows the interest rate as function of FD duration. It goes from 3.2% at 2 months, up to 3.65% at 60 months fixed. The 3.35% rate applies for FDs with a duration ranging from 12 to 35 months.
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Old May 1st 2018, 9:05 am
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Default Re: FD Rates paid monthly...

Originally Posted by SushiFan View Post
I haven't checked the conditions for that 4.25% promo. It could be that it applies to new customers only.
No, it is for everyone. I never had any FD with CIMB so far under 4%. Only for short term 1 to 6 month.

Last edited by eCdD; May 1st 2018 at 9:09 am.
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Old May 4th 2018, 1:01 am
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Default Re: FD Rates paid monthly...

MM2H required annual renewable for 10 years. Not 3 month or 6 month renew. Anyway you're always welcome to place extra Fixed Deposit for your own purpose.
Another bank you may find out, Hong Leong Bank. Sometime they offer 4.5% as well.
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