Held in trust ? Are you sure ?

like u said, its rumour,. mine is not rumours.

On the other hand, one might wan to consider putting in forex FD

for eg (no brainer, the best of al. periodl) : AUD giving 4.5% (1month), 5.3%(12month)

assuming if u've entered the right time (say around 2.7x - 2.8x) and when it appreciates to (3.0-3.1) -> given the historical data of aussie is pretty strong

that's quite a return .

min placement (10k rm)

This post has been edited by kucingfight: Jun 15 2010, 12:00 AM

ASB = amanah saham bumiputera. ( http://www.asnb.com.my/english/asb.htm)

its a share. in other words. d money u put in can burnt till zero. takda. jus dat d possiblity to happen is vry vry low bcoz it was backed by gomen. they wont let those sh1tty thigns happen

And i never said the rumor has no basis either

Actually my admin manager did inform me last year, it is indeed a good deal, min Rm10k. She kept telling me to invest, it is infact better than Malaysia FD. yes, you have to enter at the right time then only you can get a good return.

thanks for sharing.

Anybody know what is the minimum deposit amounts to be eligible for FD in any banks? Would a RM3k be possible? Need some opinions onto which bank do offer that?
any advices for a university student to start off to deposit their money in any banks which offer a lucrative interest?
I want to start deposit my money while on my university study, probably hope to target a interest rates of >3.0%pa.

not ah long..
share..
now I am waiting for my friend to explain to me more abt shares.. =)

Fixed deposit is the one with maturity period while saving plan is the one without maturity period.A savings account enables you to save or deposit your money into an account and receive certain interest with no stated maturity.
Between the two, i believe FD offer a much more interest rates compared to saving plans . I would like to know to what extent do the two differ in terms of interest rates?

Mind I share with you what I have gone thru, share is good, the return is good. but of course, the risk is there. I gain some share before, buy then after few days, I sold it and I got more than Rm300++, it is better than FD for sure. However, if the share drops, you will lost a lot depending on how many lots you purchase.

Before you buy that share, you need to know the company back groud, their financial back ground and who is managing it. Who are the ppl involved.

Share you need to monitor from time to time, if the price is good, and IF you are not greedy, you will get some extra money sort of like bonus or angpow when you sell it.

If you have the free time and extra money, you can consider it. Ppl like me, well, I kena burnt but thank god it is not much.
I learnt my lesson.

So, I end up in FD.

There is no wrong or right, just that different ppl for different thoughts and opinion. FD is the safest, cos I dun hv to worry like shares, up and down...end up I cant have a good night sleep

Good Luck to you...

---

Added on June 15, 2010, 4:08 pmGood to have young people like you start saving money



This post has been edited by gundam76: Jun 15 2010, 04:08 PM

A minimum of RM5,000 for 1-month placement and only RM1,000 for contract greater than 1-month.



First, look for a savings account that pay high interest. May i suggest you either the CIMB Bank AirAsia Savers Account or CIMB Islamic Bank passbook-based Mudharabah Savings Account-i ? Both offer really good interest.


Fixed Deposit is also known as Time Deposit. Depends on which bank you go to, some call it Fixed Deposit while some call it Time Deposit. Fixed Deposit/Time Deposit is not like the share market. You can't target the interest rate. All the interest rates shown are fixed by the respective banks. Generally, fixed deposit rates offered by banks across Malaysia do not differ much. You should just go to the bank that is the most convenient to you.

At the moment, fixed deposit yields around 2.4% - 3.05% depends on the bank and term.

This post has been edited by MilesAndMore: Jun 15 2010, 04:53 PM

actually if you want to have a good return on your savings/current account (non-FD), you should really consider Islamic banks.

the profit return on my bank Islam ATM card linked account is really good as compared to my Maybank one.

---

Added on June 15, 2010, 5:42 pmof course, i acknowledge that it does take some persuasion for non-Muslims to open an account.

I have one because I used to study Islamic banking & finance.

This post has been edited by nokia2003: Jun 15 2010, 05:42 PM

However, it should be noted that not all Islamic Banks offer good profit rate (to those who don't know, in simple English it's what we usually call interest rate).

Anyway, i've been following the Bank Islam's profit rate given to its savings account since late 2008 and the best profit rate declared is 1.40+%. This still lags behind what Standard Chartered Bank used to give to its e$aver account which was 2.5%. Bank Islam gave 1.35% of profit rate to its Mudharabah Savings Account last month. Even though the return is really good, the lack of ATM is a major drawback. I would therefore, suggest you guys to check out AmBank and CIMB Bank.

CIMB Bank
AirAsia Savers Account
- RM8/pa for ATM card
- 1.20% interest on all balances (credited monthly)
- keep a minimum of RM5,000/month in your account with no over-the-counter transaction, they will award you another extra RM5 every single month !!!

CIMB Islamic Bank
Mudharabah Savings Account-i
- RM8/pa for ATM card
- 1.10% on all balances (credited monthly)

AmIslamic Bank
Basic Savings Account-i
- Choose either to pay RM8/pa for ATM card for unlimited transaction or pay no annual fee with only 8 free ATM cash withdrawals per month
- 1.10% on all balances (credited monthly)

AmBank
Amstar Extreme savings-cum-current account
- No ATM card annual fee
- 1.50% (at least RM5,000 to earn interest; interest credited monthly)
- 5 FREE cash withdrawals at other banks' ATM
- 5 FREE online interbank fund transfe
- RM5 penalty if average balance per month is less than RM5000

AmBank Amstar Extreme is definitely the best current account in the market !!!

This post has been edited by MilesAndMore: Jun 15 2010, 08:10 PM

Well, i got a bank Islam card as well, and i am not sure about the interest rates given.haven't check yet.

Actually, want or don't want to open a bank islam saving account is not upon our decisions , i believe any scholarships holders from various IPTA are made compulsary to open one under Bank islam.

we are not being told whether we want or don't want, we are being made to have one.

---

Added on June 15, 2010, 9:24 pmI wonder what are the differences between having a saving account and FD?

Wouldn't FD offer a much higher interest rates thna saving plans? interest rate for CIMB saving acc is of 1.20%, up to 2.40% p.a which i think it is lower than that of FD.

I know that the CIMB AirAsia Savers account offer a lucrative gifts and vouchers and so, it is offered For the first 100,000 CIMB Bank AirAsia Savers account holders only, is that based on lucky draw styles where u will will possibly got the chance to win that?


This post has been edited by OMG!: Jun 15 2010, 09:24 PM

i've went to hell n haven of shares n forex... wat i can say is, share market in malaysia is more suitable for long term holdin while forex more suitable for tradin. anyway, i saw alot uncles n aunties puntin malaysia market.. pitty them..lol

how to choose good share dat u still can sleep even though d market rain sh11ty? its easy. find company dat able to survive last time asia share market meltdown(not many survive n standin strong) d game is ab gettin devidend, NOT tradin. d devidend defenitely better than FD!

well in all honesty, anything better what my maybank ATM-linked account, will be sufficient to raise my eyebrow.

besides, i have moved most of my savings to australia temporarily until graduation to accrue a better return (i'm averaging about 6% for non-FD accounts)

will convert back to MYR once i graduate.

---

Added on June 15, 2010, 9:52 pmif you guys are sceptical about the idea of islamic banking.

maybe you can opt to try Standard Chartered Saadiq (its return is on par with bank islam's)

i have always persuaded my best friend to an islamic banking account, but unsuccessful.

when i told her that Standard Chartered, now has an islamic banking division, she agreed to open one.

This post has been edited by nokia2003: Jun 15 2010, 09:52 PM

ok, thanks for sharing, I think I would consider it....thanks

I see..
Btw I am a student LOL
I heard of a phrase.
A big risk will come with a big earning..
FD need to use maybe RM50k with 3% interest to get RM1500 a year.
If you divide by 12 month means you only earn RM 125 a month
How can we possibly live a happy live with only extra RM 125?
And.. I don't have the capability to have that much off $$ to start with..

well brother, at least you have experience, been there, done that and gone thru that stage .....

Once you have the experience, I am sure you can handle it

thanks for sharing....