Nearly forget the temporarily measure of all deposit guaranteed until 2010.
It is a temporarily measure due to global financial crisis.
But 250K guaranteed has already being proposed. Just wait for green light for act amendment.
http://www.bnm.gov.my/documents/2010/Enhan...ection_FAQs.pdf

Btw, OSK-UOB is not from merger of OSK and UOB bank.
OSK-UOB is formed through JV between them, they are not resulted from merger between 2.
They are asset management company.

For investment banking, it is OSK investment bank. Not OSK-UOB.

So does Hwang-DBS. (previously Hwang and Yusoff)
They are more like partner/jv forming the company.
Not resulted from merger between them.

Yes, the worry of bank winding up is extremely low, generally we don't need worry about it. But this is good for everyone to know as well.
But 1998 crisis indeed put the country on the brink before, so does the whole banking industry.
Snce then, the financial condition is improved a lot and become more healthy now.

Keep the plan yourself, if you want to be secretive about it.

A published 10% yield definitely not come from a guaranteed return without risk exposure to the financial market and considerable long commitment.

For foreign FD, here https://forum.lowyat.net/topic/512136/+360

http://www.standardchartered.com.my/person...ver-5x/tnc.html

I can assure you, it is impossible for any investment company, insurance company to offer a 14% guaranteed interest return.

10K, get 1.4k, could mean 400 is pure interest, 1000 come from your capital, so you get back 1400
or
it is investment linked, and return rate purely depended on market performance.

For sure, it is not a pure guaranteed interest to start with.

If an insurance compaany can offer a 14% guaranteed return rate, I can guarantee tons of people will queue up, EPF, ASN, even gov fund also pour money into it, even Warren Buffett and Bill Gates also want.

Hahaha, HLA offer something 14% interest?

All saving plan, interest are guaranteed lah. But not as 14% on your capital as claimed, this I can assure. 14% interest, everyone become rich by this kind of return rate.

Saving plan is saving plan.
FD is FD.
Saving plan is never a FD.
Please don't mislead people.

FD saving plan?

Try to surrender any saving plan or pre-mature cancellation of saving plan, see how much you are getting back.

There is a blog explained the real situation.
http://malaysiapersonalfinance.blogspot.co...aving-plan.html

Also put 12.5%, quite near to 14% as well.

If one is talking about HLA cash builder, please proceed to here. This has nothing to do with FD at all!
https://forum.lowyat.net/topic/1231190/+20
There are detailed analysis as well.

Saving plan is not FD

This post has been edited by cherroy: Aug 20 2010, 11:11 PM

The RM700 you are getting is cash payment, not interest!

It is not about satisfy or not issue.

When somebody put the term of FD saving plan - it is a misleading statement to start with, it give wrong impression it is a FD. There may a lot of people non-financial savy people could fall into this misleading statement made.
Insurance company never use the word "FD saving plan"!

When someone said it is interest with guaranteed at 14%, then it is misleading for people thinking, I put 1000, then I get 140 interest. It is never the case here.
Neither insurance company put up a statement 14% interest guaranteed.

They are both misleading statement to start with.

The actual situation is out of 140, a significant portion is come from your initial capital/premium paid. Just like I give out 1000, you give back 100 + 40 interest.


We don't want to see people being misled and taking up a long term saving plan, then after years, only then found out, hey it is not 14% interest, it is a 14% cash payment. It is not as good as 14% interest.
But cannot cancel the policy as it is a long term commitment, and pre-mature of cancellation may lead to losses.
Then after that, people said insurance company trick them. How many times we heard this kind of cases? Many many.

Insurance company never cheat/mislead people, it is the agent, people (definitely not all,across) that send the wrong message.
No offence. While there are many agents are sincere and good explaining it as well.

We just want correct information being passed out, and when people taking the insurance time, they knew what is the real deal.

It is a serious issue.

6 month tenure
First 2 month
3.3%
3.9%
6.3%

This is for Citigold and new Citigold customer.
http://www.citigold.com.my/portal/citigold/promotions.html

6.8% 3 months and bundled with UT...
Not something attractive.

http://www.ecmlibra.com/pdf/term.pdf

For FD that more than 12 months, interest is payable every 6 months.

While For 1 year tenure FD, if withdraw after 3 months, you are entitle for half of the interest rate if pre-mature withdraw.

I can't remember correctly, I could be wrong, just something roughly can straight away upload from memory.

The interest rate currently is more skewed to the way up due to inflation threat.

So by lock in customer longer tenure FD is advantage to banks if there is rate is being up by BNM.

Another bundled product....

Sometimes, really tired and time wasting for costumer to read this kind of bundled FD rate.

If can ended up with Rm10K as well...

Who said market performance cannot be -ve....

Even after one day you put in UT, the next day it becomes/starts at Rm19K (as most UT got upfront service charge of 5%).

My advice,
Don't take up FD/UT combination, if you are not keen on UT in the first place.

Do not take up FD/UT combination, just because of slight higher FD rate offered.

Do remember UT upfront service charge can be way more than the higher FD rate offered.

Only take up when you are keen on UT in the first place.

This is FD thread, not loan issue, the opposite.

I reckon it is a personal loan, so please post here.
https://forum.lowyat.net/topic/479971/+1620

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.

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.

It is per account basis one, saving account active doesn't mean anything to the FD account.