Fixed Deposit rates of different local banks
If you’re not someone who can stand looking at your money being burned away, then don’t ever step into stock investing. It’s a very risky business. And you might want to reconsider your mutual fund option as well since the return is low and the risk is still there, especially with the current market condition.
So you’re left with not much choice. One of them is definitely the safest of them all – Fixed Deposit (FD). Let’s look at the FD interest rates offered by our local banks. To be honest, the difference is not that significant.
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1 |
3.10 |
3.10 |
3.10 |
3.15 |
3.10 |
3.00 |
3.00 |
3.00 |
3.10 |
|
2 |
3.20 |
3.10 |
3.20 |
3.25 |
3.10 |
3.00 |
3.00 |
3.10 |
3.10 |
|
3 |
3.20 |
3.10 |
3.25 |
3.30 |
3.25 |
3.00 |
3.20 |
3.15 |
3.10 |
|
4 |
3.20 |
3.30 |
3.25 |
3.30 |
3.25 |
3.00 |
3.20 |
3.15 |
3.20 |
|
5 |
3.20 |
3.30 |
3.25 |
3.30 |
3.25 |
3.00 |
3.20 |
3.15 |
3.20 |
|
6 |
3.40 |
3.50 |
3.40 |
3.40 |
3.50 |
3.10 |
3.40 |
3.35 |
3.50 |
|
7 |
3.50 |
3.50 |
3.40 |
3.40 |
3.50 |
3.10 |
3.40 |
3.35 |
3.50 |
|
8 |
3.50 |
3.50 |
3.40 |
3.40 |
3.50 |
3.20 |
3.40 |
3.35 |
3.50 |
|
9 |
3.50 |
3.60 |
3.50 |
3.50 |
3.60 |
3.60 |
3.50 |
3.35 |
3.50 |
|
10 |
3.50 |
3.60 |
3.50 |
3.50 |
3.60 |
3.60 |
3.50 |
3.35 |
3.50 |
|
11 |
3.50 |
3.60 |
3.50 |
3.50 |
3.60 |
3.60 |
3.50 |
3.35 |
3.50 |
|
12 |
3.70 |
3.70 |
3.70 |
3.70 |
3.70 |
3.70 |
3.70 |
3.70 |
3.70 |
|
24 |
n/a |
Neg. |
3.70 |
3.50 |
3.85 |
Neg. |
3.70 |
Neg. |
3.70* |
|
36 |
n/a |
Neg. |
3.75 |
3.60 |
3.90 |
Neg. |
3.75 |
Neg. |
3.70* |
|
48 |
n/a |
Neg. |
3.80 |
3.70 |
4.00 |
Neg. |
3.75 |
Neg. |
3.70* |
|
60 |
n/a |
Neg. |
3.90 |
3.80 |
4.00 |
Neg. |
3.80 |
Neg. |
3.70* |
Hope it helps. I’ll post up another one on FD Rates for foreign banks.
By the way, there are 2 “predictions” going on. Some say that the FD rate will go up since depression is coming (should hit us hard in 2009) and the banks will be without much money…so they have to rely on us to get the money. However, there are also some saying that the central bank and the government want to increase consumer expenditures, thus will lower down the interest rates. In the end, it’s your call. I would think the first one is more realistic.
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Comments
Hi,
I think that it your be helpful if you also mention that some banks offer higher interest rates if we bring in fresh funds (cash, bank draft from another bank, etc.) Also, Islamic Banks may offer higher interest rates as well.
Another thing is that CIMB and Hong Leong are both currently having FD promotions.
In the case of CIMB, if you open an FD account (one month tenure) with fresh funds, you will get a slightly higher interest rate than counter rate as published on their website. On the second month, it will revert to counter rate.
In the case of Hong Leong, they are giving 4% per annum interest rate (minimum RM5000 deposit) but you are required to deposit 20% of you FD amount into your Hong Leong savings account.
Public Bank also has a promotion right now if you have a minimum balance of RM100,000 in your FD. This means that if you open an FD account with RM100,000 for one month tenure, you will receive their counter rate. However, if you roll this amount into the second month, you will receive 3.4% interest rate per annum.
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@ Penny
Just hoping it’ll help. 
@ CyberPartyGal
That’s very nice of you to post up the findings.I must admit I just went through the banks to get their list of FD rates without looking for the special discounts thing. I will do that next time – to check out the different bank for their offers.
Thanks again!
This is good! Can see and compare rates all in one place. I hope the FD interest will go up, then I’ll consider putting in there instead of unit trust funds. But I think placing in Governments’ unit trust funds like the ones managed by PNB is better. Higher returns compared to FD and don’t suffer from capital depreciation.
Thanks for your effort! : )
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@ foongpcs
Mmm, I don’t put my money in PNB fund or any gov fund. Even my pbb mutual fund is equity fund with high risk. That’s why I lost 2k out of 6k investment. Hahahah.
Wow, this is a great effort to compile all the rates in one place! Thanks!
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