How to do E-Fixed Deposit in Malaysia

It might be (I have to think further ton this one, but it's a distinct possiblity) one of the worst discovery I could share in this blog. But surprisingly, my university friend did not know about making fixed deposit work online and find it amzingly useful. I tend to dwell on things too deeply and simply have to show how to earn at least 2.8%/yr on all savings without leaving home.

Scroll down and see how you could find them inside internet banking. Click on the yellow box that is shown and follow the instruction by the bank. It'll take you less than 1 min [max 5 min if you need to read every single annotation].

Some variables you will need to decide:
  • Amount: Type in the amount you wish to save [Above minimum]
  • Terms: How long you want to save the money - the longer usually gives you higher interest
  • Maturity instruction: Auto-renew or deposit the money into saving account
  • Interest payment: Add into principle or deposit into saving account

Remember to lock in any minimum amount, usually RM 5,000 for a month and RM 500 for more than 2 months in your account to earn the more cool interest. Just do early withdrawal anytime you need the money. No penalty pun.

Maybank - simple, but sometimes fuss 5-step. Only allows deposit from Maybank account you link to internet banking. Features: profit-now FD  - Interest is deposit into your account the moment you deposit. 

Hong Leong Bank - very simple 2 steps. Feature: Allows other banks online transfer but interest usually at 0.1% lower 

Alliance - Features: Option to open Forex fixed deposit. But remember each e-account you open have min RM 20 balance restriction. Am not sure if you can ever withdraw that amount.  
Implement it. It doesn't matter if I made this sounds too complicated or too simple to follow. The results comes from loging in and make the placement.