Fixed Deposit (FD) rates of banks in Malaysia (March 09)
In January, I posted a post on the Fixed Deposit rates of the major banks in Malaysia HERE. Since then, our Bank Negara (Central Bank) has reduced the interest rates twice. Thus the changes are quite major.
|
Bank |
1 month |
3 months |
6 months |
9 months |
12 months |
|
2.00 |
2.10 |
2.20 |
2.30 |
2.50 |
|
|
2.00 |
2.00 |
1.90 |
1.90 |
2.50 |
|
|
2.00 |
2.10 |
2.20 |
2.25 |
2.50 |
|
|
2.50 |
2.55 |
2.60 |
2.70 |
3.00 |
|
|
3.00 |
3.00 |
3.05 |
3.05 |
3.50 |
|
|
3.00 |
3.00 |
3.00 |
3.00 |
3.70 |
|
|
2.00 |
2.00 |
2.00 |
2.00 |
2.50 |
|
|
2.00 |
2.00 |
2.00 |
2.00 |
2.50 |
|
|
3.00 |
3.00 |
3.00 |
3.00 |
3.50 |
|
|
2.50 |
2.50 |
2.50 |
2.50 |
3.00 |
|
|
2.00 |
2.00 |
2.00 |
2.00 |
2.50 |
|
|
2.00 |
2.00 |
2.00 |
2.00 |
2.50 |
|
|
2.00 |
2.10 |
2.10 |
2.10 |
2.50 |
|
|
2.00 |
2.00 |
2.00 |
2.00 |
2.50 |
|
|
2.00 |
2.10 |
2.10 |
2.10 |
2.50 |
|
|
2.00 |
2.00 |
2.00 |
2.00 |
2.50 |
|
|
2.00 |
2.00 |
2.00 |
2.00 |
2.50 |
|
|
2.00 |
2.00 |
2.00 |
2.00 |
2.50 |
|
|
2.00 |
2.00 |
2.00 |
2.00 |
2.50 |
|
|
2.00 |
2.00 |
2.00 |
2.00 |
2.50 |
NOTE: Those highlighted in BLUE might not be the latest rates since there’s no update since the last BLR cut. As for those in RED, I couldn’t find out about the rates at all from the Internet. If you’re interested in those banks, it’s better for you to call them up and ask.
As you can see here, the interest rates are really really really low. It’s no longer worth it to keep our money in FD and I think that is exactly what are government is trying to do – to prevent us from saving up, and encourage us to spend. This is quite a risky move and it might backfire.
For me, I will only keep my emergency fund in FD while majority of my investments will be in unit trust and stock market. The % is just too low to be kept in FD. Our inflation rate is actually higher than that.
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Well the bank is not encouraging ppl to safe anyway, so just spend.. Its spending spree time
horizons last blog post..Bursa Malaysia – KLCI Deceptively Strong