UOB Fixed Deposit Promos

GenX’s Comments

Alliance Bank 6 and 12 months FD Promos at 3.8% and 3.75 % is pretty good.

There is one advantage of placing FD with Alliance – it cannot be uplifted/withdraw online but the signatory must be present at the counter! This will prevent hackers from touching your money,

If you are a long time follower of mine, you would have read that I reiterated over and over again that you should not place large sum in eFD because your loved ones will have no access to your Online Banking.

My advise is that you place JOINT FD Account over the counter with your loved ones so that they have access to your funds in the event of an emergency. Also there will be a paper trail so that your executor of your will can then submit the account number to the court to unfreeze your money.

However, if you do have less than RM100K per year which you won’t be utilizing until after age of 55, I tell you, the best place is to Self-Contribute to your EPF Account as for years we have been earning more dividends from EPF compared to FD Promo. Nobody can touch your money in EPF and only your nominee(s) in the event you die.

Click here to read my article titled How To Transform Matured Fixed Deposit Fund Into Fresh Fund To Be Eligible For Promo Interest Rate