Malaysia Best Rates 2011 July 25 Update

Fix Deposit

Affin Bank still offers the highest 3.6% for 12 months. 3.1% to 3.35% is common with all other banks. 1 month FD is mostly at 3% to 3.05%. Most of the foreign banks continue to offer lower FD rates.

Base Lending Rate

Most banks offers 6.6% now except JP Morgan Chase offers the lowest at 6.2%.

Saving Accounts

The Bank of Nova Scotia offers 2.05% while Bangkok Bank and Bank of Tokyo offers 2%

CIMB Air Asia Saver Account offers 1.6%

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Car Loan

Maybank continues to offer the lowest car loan rate starting from 2.7%. However, this is NOT a standard rate apply to all applicants. The actual rate can range up to 4.3%. Alliance bank on the other hand offers 2.8% to 3% which may be a better deal in general sense.

Bank Muamalat offers 2.85% for both New and Used cars but it requires an admin charges of RM600.

CIMB offers 3.25% for used cars.

Don't forget Car Loan rate is Fix Term Rate

which is effectively a MUCH HIGHER

than variable term rate

like House Loan and Fix Deposit.

House Loan

There are too many factors in considering a good house loan, so we don't think its fair to simply summarize them here.

Our advice is to source for at least 3 offers, preferably a mix of local and foreign banks.

Comments

What is really important in Personal Finance Planning ?

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21st century trick ...

Once upon a time, there was a gasoline called 97. The cost of this item was $1.80. One day, the governing body wanted to increase the price to $2.10. However, the governing body knows that if they simply increase price, that will affect their popularity. Which in turn affect their eligibility to continue to be governing body in next election. Hence they come up with a perfect idea. They first introduce another brand called 95. Actually this is a much lower quality product than 97. In short, 97 simply means there is at least 97% of pure petrol in the gasoline. On the other hand, 95 only has 95% purity. However, they push out 95 as if it is a better quality product. They even add some 'addictive' into 95 to justify their claim its a better product. It was presented in a way that 95 will replace 97, and stay at the same price at $1.80 More than 90% of the consumer fall for it. Hence the transition of 97 to 95 went through smoothly. Majority of the consumers pay the ...

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