The CIMB Starsaver savings account is gd. 0.8% interest. DBS's multiplier program is even better, but only max $50,000 allowed, while CIMB Starsaver doesnt have this cap.
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Banking & Finance (includes credit cards posting)
- Thread starter rhino
- Start date
The CIMB Starsaver savings account is gd. 0.8% interest. DBS's multiplier program is even better, but only max $50,000 allowed, while CIMB Starsaver doesnt have this cap.
But the RM exchange rate has also suffered this year. However, for 6 mths FD, 1 can still get 3.6 to 3.85%.Wow! Last year FD interest for 1 yr was at 4.3% Now only 3.1%
My 1 yr FD expiring soon. If i convert back to S$, even with the rate differential i still make. Last year S$ FD 1 yr only 1.8%. I made 2.5%.
Yr 2018 ex rate 2.9700. For S$30k x 2.97 = M$89100 x 4.3% (1 yr FD) = M$92931.30. Convert to 24/7/19 S$ rate at 3.01 is S$30874.18
Yr 2018 S$ FD for 1 yr was 1.8%. So S$30k x 1.8% = S$30540
So a decent gain of S$334.18
https://www.currency-converter.org.uk/currency-rates/historical/table/SGD-MYR.html
RHB Bank Berhad:
Effective Rate: 3.85% (8 months) & 4% p.a. (15 months)
Minimum: RM10,000
Maximum: No maximum deposit
Tenure: 8 months/15 months
Offer period: 21 May 2019 to 31 July 2019
Does tat mean RHB paying 4% for 15mths? Most banks paying only 3.1% p.a. Can anyone enlighten me?
Effective Rate: 3.85% (8 months) & 4% p.a. (15 months)
Minimum: RM10,000
Maximum: No maximum deposit
Tenure: 8 months/15 months
Offer period: 21 May 2019 to 31 July 2019
Does tat mean RHB paying 4% for 15mths? Most banks paying only 3.1% p.a. Can anyone enlighten me?
I think should be a promo with CASA bundling.
They actually pay 4% for 15mths FD deposits. But must open a saving acct and dep 10k or 20k in saving for a start. Anyway promo ended leow. Now most banks paying 3.8% rate for FD of 1 year.
CIMB has a similar scheme, i.e. tie up [email protected]% (albeit for a shorter tenure) with savings acct. You may have to work out the overall interest rate taking the lower savings acct rate into considerations.
https://www.cimbbank.com.my/en/pers...rcent-pa-fd-or-fria-i-bundle-with-casa-i.html
CIMB is not attractive as you will need to earmark CASA so the rate goes down to about 4%. Try Affin bank which offers 4.23% for 15 months. Or Bank Rakyat which offers 4.25% for 60 months but is not protected by PIDM.
Problem is they need fresh funds. Troublesome to make another trip tere.
Small amt can take the risks. If big amt better be safe and deposit with big banks as well as protected by PIDM, imo.
Just did a minute ago using my mobile phone. No problem.
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