1 month Fix Deposit
Most banks offer 2.25% now except a few ones. Most of the ones who are still stuck at 2.0% are international banks like Bank of China, JP Morgan, Bank of Nova Scotia and Alliance banks.
1 year Fix Deposit
Highest offered rates is 2.75% by Affin Bank, AmBank, Bangkok Bank, Bank of Tokyo-Mitsubishi UFJ, Deutsche Bank, Hong Leong Bank, Malayan Bank.
Base Lending Rate
Most local banks stand at 5.8% now with Affin offers the lowest at 5.75%. International banks offer lower rate starting from 5.50% by Royal Bank of Scotland.
Saving Accounts
Kuwait Finance House continues to offer highest saving interest rate in its KFH Savings Account-i at 1.5%. This account is also very simple and straight forward.
Other than that, Standard Chartered's Al-Wadiah Savings Account-i offer 1.0% for up to RM 10,000 savings.
CIMB's Air Asia Savers Account and Mudharabah Saving Account-i also offers 1.0%.
Other accounts who seems like offering high interest rate but require high amount of saving are excluded. Some special accounts like OCBC's iQ Saving is also excluded because their offer rate may seems high at 3.28% but their effective rate is hard to simplify for general public. In short, for those accounts, if you use up the benefits they offer then it would be a great deal but if you do not use any of those stuff then its better you stick to a lower but 'real' rate, simpler and more straight forward saving account.
Don't forget you can get a simple widget
like above to show on your blog / web site.
Car Loan : NEW Car
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%.
Bank Muamalat offers 2.85% for both New and Used cars but it requires an admin charges of RM600.
Most other banks rates offer are 3.25% for New cars.
Car Loan : Used Car
CIMB offers the lowest 3.25% used car loan rate.
Most of other best used car loan rates offer are 3.75% by Affin, Hong Leong Bank, Alliance, EON and RHB.
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
Affin remains as the best house loan offer at BLR - 2.3%.
Standard Chartered offers BLR - 2.25%
Most banks offers are BLR - 1.8%.
Multi-tiers house loan offers are excluded because it would be impossible to simplify their pro and cons without knowing the actual details of your particular loan details. Hence, only simple and straight forward house loan offers are compared.
12 comments:
Alliance Bank is a local bank. Not an international bank as mentioned.
Nice widget actually, I will talk about it some time later...
Yes, Alliance is the 'only' one NOT an intl bank in that sentence. It reads with a pause before the 'and' as in .... and -one domestic bank like- Alli... Its a form of lazy writing, thanks for pointing that out ;-)
CDog, thanks in advance :)
Different countries would really vary in terms of interest rates specially in housing loans. But for car financing loan, it should be fixed. Though, different countries/banks really have different rates. So, its for you now to decide which lender would give you the best offer.
Why u say the BLR now is 5.5% to 5.8% for every bank? is it after 6.30% - Bank% ?
Sorry noob here
seems like a mistake or outdated info there. To get the latest info from Bank Negara yourself, follow this link
http://malaysiapersonalfinance.blogspot.com/2009/07/finding-best-rates-fd-blr-house-and-car.html
http://malaysiapersonalfinance.blogspot.com/2009/07/finding-best-rates-fd-blr-house-and-car.html
These sound like pretty aggressive finance interest rates. What kind of rates are available for people in those areas with bad credit?
Yeah - it's different in our country the way our financial system works. Buying a car with bad credit is a bit more of a challenge unless you use a good company that can help to get your loan arranged for you. That's how it is here, anyway.
Best regards.
In fact, I am not quite sure about fading down the stretch. But I agree with your thoughts.
I will certainly do it. That will be one of my next steps. However, I have already made a great suggestion.
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