What if CIMB revise their interest rate next month to say, 2.75%? Would the auto renewal still be based on 3%?

Auto renewal will always based on the new & current rate. If CIMB revises to 2.75%, your next renewal will be 2.75%, but your current term will still be 3% until maturity.

Yup. My friend who work with bank also tell me the similar thing

so what's the best rate on town now? 1 yr FD btw

so tired looking for best FD rate, get a bumi wife/husband n use his/her ASB la hehe..guarantee good return n much higher %

Dear Forum Readers,
ETIQA TAKAFUL BERHAD is an Islamic Insurance Product Open for ALL regardless of age, religion etc.. its a insurance product with saving element, return is NOT GURANTEED because in Islamic Business Model a person or company cannot gurantee a return because it becomes INTEREST or USURY so the Islamic Business Model works on a profit sharing basis whereby 80% of profit ( IF ANY ) goes to the policy holder and the balance 20% goes to the company.. Past record ranges from 4.8% - 8% ( NON GURANTEED) the insurance sheme works on a model of POOLED RISK. 1st Year of Paying Premiums YOU would have ZERO MONEY in your Investment ACC. Because u MUST DONATE 100% to the POOLED FUND 2nd Year 10% Investment ACC 90% DONATION to POOLED FUND 3rd Year 50% Inv Acc 50% POOLED ACC 4th Year ONWARDS 75% INV ACC 25% POOLED ACC.

Added on May 6, 2008, 11:21 pmPLS TAKE NOTE I AM A AGENCY MANAGER WITH ETIQA TAKAFUL BERHAD and have been with the company for 7 YEARS.
WE currently have an overzealous lot of NEW AGENTS who SELL our products without proper knowledge or information.

Added on May 6, 2008, 11:29 pmYour Savings will BREAK EVEN approx at THE 12 Year ONWARDS, So its a usefull Saving TOOL BUT MOST IMPORTANT ITS A WONDERFUL PROTECTION TOOL. WE DO OFFER AMONG THE BEST PREMIUM RATES AROUND WITH STRONG BACKING FROM MAYBANK. Annualised Return for 30 Years is APPROX 3%. ( NON GURANTEED)

hi,I'm newbie to FD..wanna ask some questions...

1.if I wanna put Rm10K into FD..My saving accounts bank is EON bank..so what should i do ? Go to counter and get a form to apply ? I need to open another accounts in EON bank?

2.after 1 year,The Rm10k & interests will automatically transfer into my saving accounts ?

3.if before 1year period and i took the money,i will lost all my interests only,right ? I will still get my Rm10k back,right ?

sorry if asking noob questions

thanks in advance

1. that's one method (counter application). alternatively soem bank offer online FD placement (eg maybank) that way you can just click your way to fd placement

2. when you apply for FD you can choose:
a. duration: one month? one year? (their rate differ and usually longer = higher)
b. action upon maturity: renew (ie reinvest) or credit to account
c. interest: add to principal (add to initial investment) or credit to account

I believe your question refers to (b). it's usually up to you (but PB seems to offer only renew)

3. yes. you'll lose interest but not principal.

Alternatively consider putting at less duration so you'll still earn interest (or wont lose). or consider some mutual fund which offers both interest and liquidity

Just to correct,
The bolded is wrong.

I want to highlight this because some may be misled by this statement.

Mutual funds do not give interest.
Mutual fund principal is not guaranteed.
No return is guaranteed.
It can yield you a lose instead of gain.

Mutual fund is a type of equity/bond investment, it is not same class with FD, or deposit.

How long it takes for cimb efd to update there
I just place an efd it shows no record found...

hmm... some of them are capital growth some interest. depends on which you invest. yes?

Those are not interest, but investment gain/profit from their investment in stock market or bond market.

It is never a interest to start with.

hmm i always think the fund do have interest which obviously reflected in capital growth. okay i might be wrong (noob here)

thanks for correcting anyway

thanks for reply...

refer to (2), eg. after 1 year (after maturity),i need to go back bank to apply transfer my Rm10k + interests back to my saving accounts ?

As you said,PB will only offer renew,does it means the money+ interests will no go back my saving accounts back ?

thanks

Mine also didn't show on the first day. But now it's there.

You may wanna try to check again tomorrow.

For HLB, eFD placement - how to get the certificate for the FD or any proof of placement.

cert can get from the same branch?

eFD means no cert given lah... Electronic FD ;-)

Annual return of 3%????

eFD have cert lah. If you bank with CIMB, they give you a printable cert similar to the one if you apply over the counter.

That's true. They will mail the receipt to your correspondence address.