UOB Malaysia Fixed Deposit SuperDeals - 3.70% p.a. 12-month FD & 3.50% p.a. 3-month FD (1st March - 30th April 2013)

 uob superdeals fD

UOB SuperDeals Fixed Deposit - 3.70% p.a. for 12-month FD and 3.50% p.a. for 3-month FD (1st March - 30th April 2013)
Drawbacks: Only valid until 30th April 2013; high minimum deposit required.

Promotion Period: 1st March - 30th April 2013
Promotional Interest Rate:
3-month FD - 3.50% p.a.
12-month FD - 3.70% p.a.
Minimum Deposit: RM10,000.00
Maximum Deposit: RM5,000,000.00
Highlighted Terms & Conditions:
1. If the FD is partially or prematurely withdrawn before the completion of the tenure, the penalties are:
a) before completion of first 3 months of the FD placement: no interest will be paid;
b) thereafter: 50% of the contracted promotional rate is payable for each completed month.
2. The promotional rate shall only be applicable to FD placements made during the promotion period.
3. The promotion is not valid with other promotions of UOBM and no other special, additional or preferential rates shall be given under the promotion.
4. All fixed deposit placements must be made using new funds and not from funds transferred from any existing UOBM savings / current / fixed deposit / foreign currency account or in the form of UOBM cheques, cashiers's order or demand drafts.
For the full Terms and Conditions: click here.
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In their latest promotion, UOB is offering 3.70% p.a. for a 12-month FD and 3.50% p.a. for 3 months, which is quite high in the current market. But you have to hurry if you want to take advantage of these rates, as they are only available until 30th April 2013. What we like about this promotion is that it is very simple and straight forward: deposit fresh funds into a Fixed Deposit and enjoy the rates.
In comparison, UOB is also offering a "SuperDeals Unit Trust + Fixed Deposit" deal with up to 6% p.a. interest, but it is quite difficult to achieve this rate due to numerous clauses and restrictions.
What we don't like about the SuperDeals Fixed Deposit promotion? The minimum amount for their fixed deposit placement is RM10,000.00, which is quite high (the maximum deposit is RM5,000,000.00), and must be made using new funds.
So how much would you get if you deposit RM10,000? Let's look at the table below:
Tenure3 months12 months
SuperDeal Interest Rates (p.a.)3.50%3.70%
Deposit AmountRM10,000RM10,000
Interest EarnedRM87.50RM370.00
The 3.50% p.a. rate for their 3-month FD doesn't necessarily put them at the top of the chart, and though their 12-month FD rate of 3.70% p.a. is one of the best in the market, you can actually get 4.01% p.a. from Bank Rakyat and 4.00% p.a. from Mach FD by Hong Leong Bank.
Interested to know more about Fixed Deposits as well as the top rates for 1-, 3-, 6-, 9-, and 12-month FD tenures? Then head on to our “Best FD Rates in Malaysia – Earn up to 4.01% for one year” article! Or you can try our very handy Fixed Deposit Comparison Tool to compare the available bank and FD rates in the market!

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