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How to Use Maybank eFixed Deposit Online?

Maybank eFD provides convenient way for FD account holder to make Fixed Deposit placements online. All transactions are real time. But, there’ll no certificate be issued.

So, if you are willing to open Maybank eFD, then you just login to Maybank2u.com. Click on Accounts & Banking and you will see Fixed Deposits. Then, click on Make an eFixed Deposit placement. Next, you can select eFixed Deposit type (Maybank Conventional Fixed Deposit or Maybank GIA Mudharabah or Murabahah Deposit Account MDA-i).

maybank efd

After that, please select term of your eFD. So there’s 1 - 60 months.

maybank efd

Please make sure that know the FD rates before you do the placement so you won’t feel regret later. So, below are the latest FD rates:

August 15th, 2010 | 3 Comments

Shorter-term Fixed Deposit Tenures Would Be Better?

Fixed deposit has been seen as a lower return saving vehicles. But, it is low in risk and high in liquidity as well. In current situation where interest rates are expected to go up, people may start to question how long they should place their money in the FD account.

Based on my personal calculation, it’s better to place your FD in a shorter tenure so that you can take advantage of the expected interest rate rise in future. I still remember in the mid of May, Bank Negara Malaysia revised its Overnight Policy Rate (OPR) by 25bps to 2.5%. You can try to put your fixed deposit in a shorter tenure such as 1 month, 2 months or 3 months. This is because if you put in a longer tenure now and you can gain an extra 25bp from it, but you won’t profit from it if the rate rise by another 50bp in a couple of months perhaps.

FD interest rate

August 4th, 2010 | 3 Comments

Maybank vs Public Bank Gold Investment

This is continued from my previous topic Buying Gold As Investment, which dated 21st June 2008. So, as everybody known, now we can buy gold as investment through local bank. You can either open gold investment account from Public Bank or Maybank. You will be given gold savings passbook account, which used to record every purchase or sale order.

But, a lot of my readers keep on sending email ask me what’s the different between Maybank Gold Savings Passbook Account (GSPA) vs Public Bank Gold Investment Account (GIA). Previously, I could not find much different between both local banks offer and these are my initial stage of research:

maybank vs public bank gold investment

But after going into further details, now I found some interesting part, which can be shared here.

July 31st, 2010 | 5 Comments

Public Bank Foreign Currency Fixed Deposit

Previously, I have interested to invest in a public bank foreign currency fixed deposit. The interests offered were attractive and after thinking long and hard about it, I decided not go for it due to currency risk and country risk.

Public Bank Foreign Currency Fixed Deposit

You can choose to invest on monthly renewal contract than a fixed term of a few months so that you will have liquidity control if you need it. This kind of investment requires your awareness on the currency exchange rate. It’s better not to withdraw when our Ringgit has strengthened and it also means that the bank’s buying price for the foreign currency would not be that much.

June 2nd, 2010 | 1 Comment

Sukuk 1Malaysia 2010 Guaranteed 5% Return per Year

After receiving a good response from Sukuk Simpanan Rakyat last year, our government will issue a new RM3bil worth of Sukuk 1Malaysia 2010. You better make a quick decision, as the previous Sukuk Simpanan Rakyat were fully subscribed within 9 days.

sukuk 1malaysia

The Sukuk 1Malaysia 2010 will be issued on 21st June 2010. It has offer a guaranteed return of 5% per year and have maturity of 3 years period. However, you can sell and buy, either fully or partially before the maturity date as it has the flexibility.

May 26th, 2010 | 6 Comments

Malaysia Latest Base Lending Rate (BLR)

Effective from 18th May 2010, the latest Base Lending Rate (BLR) for most banks in Malaysia will be at 6.05% per annum. Therefore, the BLR increased another 2.5% from 5.80% previously. This adjustment is made based on Bank Negara announcement to raise the overnight policy rate (OPR) by 25 points on 13th May 2010!

malaysia base lending rate

For me, Malaysia has a very high base lending rate, but this also means that our interest earned on fixed deposits is also quite high. From positive point of view, the BLR increase is a sign that our economy is recovering. However, I can feel that the core parts of Malaysia still very bad as unemployment, low salaries are some of the major issues facing by Malaysians nowadays.

So, with the latest increase of BLR in Malaysia, for sure it will further hurt Malaysians who is going to get new home.

These are the local and foreign banks latest BLR rate in our country:

May 23rd, 2010 | Leave a Comment

Open Maybank Current Account

Most of the businessman more prefers to open Current Account to pay for their loans, and bills as this will bring more convenient for them. However, most of them may face the problem of finding “Introducer” who is an existing current account holder. The Introducer must opened more than 1 year current account and need to maintained good record. Another tips is go to your introducer branch to open your current account, you will get faster respond.

maybank current account

As I know, a lot of bank in Malaysia required all original Identity card, driving license, utility bills, letter pf employment in order to avoid fraudster nowadays. So, it is better get everything ready to avoid any hassle. And, it will allow those who age 18 and above to open current account.

April 16th, 2010 | 3 Comments