FD is the money that you shouldn't touch during the entire tenure of the contract so you can get all the interest agreed on the day you opened the account. Savings on the other hand, is your liquid money that you can access anytime you want.

One shouldn't put everything into FD. Always make sure you have some money in your savings.



Please note that CIMB Bank offers several types of savings account and each type of savings account comes with different T&C and interest rate(s). And yes, FD always will offer higher interest rate than savings account. This is because your FD has to be locked for a certain period of time in order to enjoy the higher interest whereas you don't have to do so with savings account. You can withdraw the money in your savings account anytime you want and you won't loss the interest you've already earned.

By the way, technically the interest for CIMB AirAsia Savers account is only 1.20%. They advertise it as up to 2.40% because of the RM5 they give to their account holders keep at least RM5000 in the account every month with no over-the-counter transaction in a month. For example, let say you keep RM10,000 between July 1st - July 31st and never touched the account the whole month, they will give you about RM10 (interest) + RM5 (reward for no over the counter transaction and that you keep at least RM5000 in your account the whole month)


Not too sure about the e-Voucher and all. I do have this account solely because i love the interest given to this account.

About the free stuff offered to the first 100,000 AirAsia Savers Account holders, it is the Tune Money VISA Prepaid Card. The first 100,000 will get a complimentary Tune Money VISA Prepaid Card with the annual fee for the 1st year waived. Please note that this Tune Money VISA Prepaid Card is optional. My advise ? Don't get it if you don't need it. It is a USELESS card ! If you really need a debit card, get either the Public Bank Day2Day VISA debit card or Maybank VISA debit card. Both are thousands times better than Tune Money VISA Prepaid Card with absolute no stupid fees.



That's the thing i envy most about the savings account offered down under. It makes investments offered by PNB look silly ! Anyway idea what's the tax rate like if i were to pay tax on the interest earned from my savings and term deposit there ?



Agreed ! Standard Chartered Saadiq has 3 types of savings account and it is the "Savings Account-i" that you guys should go for, if any of you are interested.

This post has been edited by MilesAndMore: Jun 15 2010, 10:32 PM

If you entered during the 2.5 then it's a steal just that during that time the interest was pretty low. Before that AUD was giving up to 8%

yup. my fees were paid at that rate!

I so wish I can become a student again
well brother, hope you dun mind I will be blunt with you but the truth always hurt.

Yes, I agree....how to live with extra Rm125.00 per month usually young ppl like you have a very high goal in life, it is perfectly normal cos they should strike hard to earn as much as they can.

But if you every month set a budget, spend what is necessary and set a aside an amount to save. I am sure there will be a Digit there, I too start to save when I come out to work, it is tough but must learn how. Honestly, I am from a poor family, and try to save. when you reach certain age, you will see the result. I too start from bottom.....

when you have reach certain amount of money you will most probably think differently, such as unit trust fund like public mutual, insurance, share market, some ppl will invest in GOLD, some will invest in properties and other ways of investment for a higher returns.

Pls dun say you dun hv the capability there, who knows, when your time comes, you could probably be a Millionaire....

Good luck to you brother

ya , well it's always about relatively speaking. those 'what IFs' , 'what IFs'. given that thet opportunity has 'passed', it's still not too bad goin in these times, 2.7-2.8x , well guess u've juz got to do with what u hav and hope it hits >3.0

IMHO (not sure how much my finance major counts ), the AUD is unlikely to appreciate pass the 3.0 mark for the time being.

interest rate halt by RBA will dampen its rise a little; though I can't speak the way the same for MYR.

MYR isn't featured much in the global news.

I am not some investment specialist but ive had a good share of experience in analysing markets and trends. This is what i will say to you: Forget about AUD. When u talk about currency pricing you must always relate it to its average benchmark price. All currencies will move up or down before reverting back to its benchmark price sooner or later.

The AUD is currently trading ABOVE its historical average. The real AUD - MYR price is approx 2.5-2.6. Which means that if you go in now you risk losing heavily should the currency retract to its median range. I advised many friends to go in when the AUD was trading at 2.10 around January 2009. That would have been the best time. But now its too risky. I personally do not expect the AUD to go up beyond 2.90 unless the ringgit crashes.

What's happening to the Euro now is a typical case of a currency retracting to its median. The only reason why there's a big hoohaa is because its crash was much faster than anticipated. Most financial investors were predicting the Euro to correct downwards towards its benchmark 0.8 to the USD sooner or later but didnt expect it to crash so soon.

Therefore, i would NOT recommend anybody to buy EURO as it is trading above its average benchmark. The currency will never cross the RM5.00 range anytime within the next few years. It may not even cross the RM4.50 barrier as well.

There is a reason why many international investors are getting out of currencies. Its because once 1 currency starts correcting then the others will follow untill all major currencies 'normalise'. This is a common trend and its cycle has always happened over the years.

Also please forget about FD's. Its a real waste at the current rates. If ure interested in investing then go into gold or silver. But make sure u dont get involved in some get rich scheme. Stick to Maybank / Public Bank. For silver is more difficult since no bank trades in it.

cybermaster98,
Thanks for the good advice and your kind opinion

Well, really thanks for the advices given here.
If let say i want to have my fixed deposit at PB for only certain period of time, says for 1 month to gain the interest rates of 2.83%, then after 1 month, i got to take up the deposit together with interest rates, and then deposit it at FD in Maybank, would i be incuring any loss for the constant transaction of money?
I am not quite sure about the FD thingy, if one wants to have FD at certain banks, can i transfer the amount of money that i want to deposit from my bank account to the FD account?




I see, most of the saving interest only range from 1,0 to 3.0 % is it? U love the interest given to this account? is the interest rates higher compared to other banks?




I don't see any need for me to have this debit card right at the moment.
anyway,Thanks for the recommendation=)
How about the Air asia free tickets? is it based on lucky draw styles? I am quite attracted to the free flight tickets

Economists do not look good on our MYR ...


The interest for 1-month at Public Bank as of today is only 2.50%. Once it has served its contract, you can take out the money anytime without incurring any losses. You may also move the money to any other banks you want.

If you don't mind me asking, since the money is already in Public Bank and assume you're a happy Public Bank customer, why even bother to move the money to Maybank ? The interest given is more or less the same ...



Yes. You can. However, all the banks require you to have a savings or current account with them in order to open a FD with them.



Most of the savings account in Malaysia give only 0% - 2%.



Yes. It is higher than most other banks.



This card is optional. You can refuse the card if you don't need it.


Sorry. Not too sure about this. I open this account solely because of the attractive interest rate.

This post has been edited by MilesAndMore: Jun 16 2010, 08:42 PM

what is the current highest interest rate for fixed deposit? AMbank quantum i seems to have higher interest eh. Should i park the money there?

3.05% for 12-month at Affin Bank and BSN.

There is an on-going FD promotion at AMBank now. It is called Top Rates FD. They always have this kind of FD promotion several times a year and the rate really is quite good. See below :

only now I know, thanks for sharing.....

http://www.pbebank.com/en/en_content/perso...ons/stepup.html

How does this PB step up rate compare with the other 3.10%p.a rate?

Also if I want to put FD on AMBank, do I have to open a saving account there?

When you sum it all up and take the average, you'll only get 2.90% return. Rate shown is per annum, by the way.



Yes. You can open a non-fee AmIslamic Bank Basic Savings Account-i. It comes with an annual fee free ATM card with 8 free ATM cash withdrawals and high interest of 1.10%. The profit (interest) will be credited to your account on a montly basis on the 16th of every month.

yes, it is not much but if sept interest rate goes up, then you will gain compare you put in yearly 2.8%.

Meaning, instead of monthly 2.5%, it may 2.6% or 2.55%.

This post has been edited by gundam76: Jun 19 2010, 08:32 PM

For term deposit residents are tax under personal income tax bracket where non-resident is 30%

Thanks

LOL but unless you are a very industrious student, it is unlikely that you can accrue more than AUD6000 of income per financial year.

hence having said that, TECHNICALLY international students' interest earned from bank accounts are tax free.

What the difference between e-Fixeed Deposit of Maybank2u Conventional and Maybank GIA Murabahah?

Terms & Conditions?

This post has been edited by towtow: Jun 23 2010, 01:11 PM