This is a really good place to see ppl discussing how to improve their financial management... I learn a lot so far ^^

I need some opinion too ^^

I'm currently work for 6 month already (fresh grad), and start to accumulate more money. I'm planning to park my money in eFD first as I'm no good in any investment yet (No experience).

My salary is around 2.6k. I consider myself lucky as I don't have to buy a car so no car loan, but I have to pay a lot for my parent's insurance and living cost, so only can save up to 600+ ....

I just start to learn this financial management and plan to put my money in FD. I think putting in 3 month term is much better than putting in 12 month term so I can generate more money from interest, is this correct?
So the interest can keep growing every 3 month I deposit (600x3) instead of deposit my monthly save money every one year. Need opinion from you guys =)

Wrong???

Assume 3.05% for 3 month FD
First month: $10000 initial deposit, put inside FD
After 3 month: I will earn around $76 interest, at the same time I save 650 every month.
So for next month I put in the previous amount plus my saving = (10076+1950) in FD again

If i keep repeat this routine I will earn around $397 at the end of year???


But if I put in 12 month term (3.15%)
I will only earn $315 interest after one year.... If I put it in this way is correct right?