I need all relevant info pertaining to fixed deposit account, Its mode of operation plus its requirements. How interest is allocated including useful tips.

Peace!

I have a Fixed Deposit account here but I cannot advise u on the interest rates cause malaysia and Nigeria is different but as far as I know, there is a minimum amnount to put in if you were to open a Fixed Deposit account and the interest rates are always higher than the other accounts. The catch is that the bank will tell u that once u put in the money, u are required to not touch the money for a certain period of time in order for the interest rates to be activated,

I remembered I had to not touched mine for a year in order to get a certain high interest rates. However if u have decided to touch the money, for sure the rates will drop down.

So its best to check with the bank the following:-

1) What is the minimum amount to open a Fixed Deposit Account?

2) What is the interest rates and how long will it take for it to mature?

3) How long must you not touch your account in order for u to get those interest rates

Yeap! Thats about it.

@ gabry how are u, seems u live in malaysia, well I wud love to meet u soonest either online or one-on-one cos i need to ask some information abt the country, my email address is kay_8080@yahoo.com. I wud love to have ur email address,