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Banking & Finance (includes credit cards posting)

rhino

Alfrescian
Loyal
Hi any one knows which bank offers the best FD rate for non-residents? Understand that it is possible to get 3%.
 

ginfreely

Alfrescian
Loyal
Re: Which bank offers the best FD rate for non-residents?

Hi any one knows which bank offers the best FD rate for non-residents? Understand that it is possible to get 3%.

Yes, even one month FD also 2.95% for HSBC. Don't know whether that is the best rate.
 

rhino

Alfrescian
Loyal
Most competitive mortgage provider/bank

Hi all,

Care to share that in your experience, which bank offers the most competitve mortgage package?

I have approached local bank Alliance and am inclined to take up their package due to below factors:
1. BLR-2.45 (for loan of RM$400,000 and above)
2. Flexi loan (no cap on the amount put into the account to offset interest)
3. No monthly maintenance fee
4 No lock in
5 One-time setup fee of RM$100
6 Cheque book

Hope to generate an informative discussion. =)

Cheers
 
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Aisanbo

Alfrescian
Loyal
Re: Which bank offers the best FD rate for non-residents?

Hi any one knows which bank offers the best FD rate for non-residents? Understand that it is possible to get 3%.

Non residents are not allowed to open FD even if they have a loan with the bank.
This is the case for AmbAnk. Went down twice already and they just say would seek approval from main office but very long still no news.
Dun know why they are willing to lend me money but not willing to borrow from me (I.e. FD).

Luckily public bank, which I also took a loan from, seems to allow me to FD.
Keeping fingers crossed till transaction completed.
 

Aisanbo

Alfrescian
Loyal
Re: Most competitive mortgage provider/bank

Good rate, plus no lock in, plus no monthly maintenance....
Too good to be true....any catch?
Interest stay throughout whole term?
 

winners

Alfrescian
Loyal
Re: Which bank offers the best FD rate for non-residents?

Non residents are not allowed to open FD even if they have a loan with the bank.....

Not true lah. I used to have RM300k in FDs with RHB Bank when I was applying for MM2H.
 
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ginfreely

Alfrescian
Loyal
Re: Which bank offers the best FD rate for non-residents?

It is wrong to compare interest rate of different currencies because of potential FX movement.

Of course FX risk is present but ok for people with plans to live in JB and use the RM.
 

Aisanbo

Alfrescian
Loyal
Re: Which bank offers the best FD rate for non-residents?

Not true lah. I used to have RM300k in FDs with RHB Bank when I was applying for MM2H.

MM2H of course can have FD.....in fact putting in the FD is the condition for getting MM2H.

Unless you have student pass or employment pass or you're a resident (staying in malaysia), you cannot open a FD even if you bought a property and have a loan with the bank. i understand that has been the regulation all along but recently they are more stringent. So far, Ambank has not approve my application for FD.
When i took the loan, the officer told me i can put in FD later on. But subsequently, I can't.
Of course, this is for Ambank and maybe other banks are ok.

Just to let you guys know.
 

winners

Alfrescian
Loyal
Re: Which bank offers the best FD rate for non-residents?

MM2H of course can have FD.....in fact putting in the FD is the condition for getting MM2H.

Unless you have student pass or employment pass or you're a resident (staying in malaysia), you cannot open a FD even if you bought a property and have a loan with the bank. i understand that has been the regulation all along but recently they are more stringent. So far, Ambank has not approve my application for FD.
When i took the loan, the officer told me i can put in FD later on. But subsequently, I can't.
Of course, this is for Ambank and maybe other banks are ok.

Just to let you guys know.

Anyway, since 1995 (long before MM2H was introduced), I already had FDs with Hong Leong Bank Bhd, the branch along Jalan Wong Ah Fook and next to UOB, just after the old immigration. I also don't stay in Malaysia at that time. Subsequently, I decided to consolidate everything with RHB Bank to make my money management easier. Their priority banking department had even invited me to apply for their credit card, but I did not take up the offer.
 
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ray2104

New Member
Re: Which bank offers the best FD rate for non-residents?

i am a non-resident n have a fd with cimb at a monthly 3%,i leave it to auto renew with the principle and interest every month...
 

ginfreely

Alfrescian
Loyal
Re: Which bank offers the best FD rate for non-residents?

MM2H of course can have FD.....in fact putting in the FD is the condition for getting MM2H.

Unless you have student pass or employment pass or you're a resident (staying in malaysia), you cannot open a FD even if you bought a property and have a loan with the bank. i understand that has been the regulation all along but recently they are more stringent. So far, Ambank has not approve my application for FD.
When i took the loan, the officer told me i can put in FD later on. But subsequently, I can't.
Of course, this is for Ambank and maybe other banks are ok.

Just to let you guys know.

May be you want to use HSBC instead, no problem for non-resident to open FD and no need MM2H.
 

Aisanbo

Alfrescian
Loyal
Re: Which bank offers the best FD rate for non-residents?

May be you want to use HSBC instead, no problem for non-resident to open FD and no need MM2H.

Hopefully, it is only Ambank that is having this policy.
Any other bro had successfully started a new FD recently ? Not just renew but to start a new FD or any account for that matter.

Anyway, I would take out all my $$$ from Ambank current account (earning 1.2%) into another bank's FD.
 

Aisanbo

Alfrescian
Loyal
Re: Which bank offers the best FD rate for non-residents?

Finally manage to put money in FD with Public Bank.
1yr , staggered rate averaging at 3.5%.
Also talked me into investing in a balanced fund. For every 5 dollar invested in the fund, can put 1 dollar
in FD with 5.65% rate for 1 yr.
 

rhino

Alfrescian
Loyal
Re: Most competitive mortgage provider/bank

Yeah, seems by far the best I've come across.
Interest depends on BLR ba...
Which bank you've opted for?
 

rhino

Alfrescian
Loyal
Re: Which bank offers the best FD rate for non-residents?

Forget the banks, go for Malaysian building Society if you want to invest FD and purely after higher interest.

Bro, this society sounds interesting, but how "safe"?
 
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