huh ??? does that mean the Public bank showing the 4.30% step up FD is not the real we will get 4.30% for 10mth ??? =='

No. Read the fine prints.

hi guys,

how about foregin currency FD rates then ? how does this work ? i checked public bank / stan chart seems to be the highest currently

and with the rate on AUD n NZD seems to be the best around, 7% and 8% respectively

1 question, if i were to invest into the foregin currency NZD 10k , and the interest rate is 8%; is this 8% returns in NZD or MYR ?

thanks

are you sure that it is 7% for australian banks?

even for an australian resident to obtain such a rate, one has to actually commit approximately 60 months.

if you don't mind, could you please drop some names for the banks please.

i would be more than interested to find out!

thanks

erm, a simple mathematical analysis, will tell you that, 8% return of MYR or another currency will be the same?

the only fluctuation will be the potential exchange risks and perhaps some taxation by the local government.

This post has been edited by nokia2003: Jun 23 2010, 10:12 PM

for AUD n NZD

ya the 7 n 8 % are coming off from standard chartered foregin currency fd if I m not mistaken, best part is...it says 1wk - 12 months duration, you choose.

public bank offering 5.3% and 7% if also not mistaken.....i am just wondering if the interest rate is in AUD or NZD instead of MYR ? that would be certainly best as compared to the current MY banks or even PNB issed AS? funds

it's 4.5%-5.3% ranging from 1month - 12month

so, depends on your strategy , either goin for 1month - 12months, exiting for profit taking, or juz parking it there long term for interest

refer to my post a few pages back, that's why i believe it's smart to invest in AUD (off course, do some homework and see the trends)

* assuming u enter it @ 2.7x-2.8x, it might be a good move, considering AUD is fundamentally strong hitting 3.0-3.1 .

for Public bank forex fd, u need min RM10k investment, per placement

interest multiplication is the same, makes no diff if u calculate in AUD or MYR

This post has been edited by kucingfight: Jun 24 2010, 12:44 AM

ah....then forex FD is defintely better in this sense....its a few times more compared to local FD !!

nothing is risk less.

erm don't mean to be a nag, but you should always factor in exchange rate fluctuations, annual inflation rate & other potential influences.

especially since it's a norm for a person to peg a term deposit for longer duration.

that's why most of my Singaporean friends (not sure about yours) don't put their money in Malaysia despite the fact we are only a bridge away and our rates are much better than ours.

---

Added on June 24, 2010, 10:21 amI have funds in Australia only because I'm furthering my education here.

hence whether it's favorable or not, I would still need AUD for obvious reasons

This post has been edited by nokia2003: Jun 24 2010, 10:21 AM

not really, not all Forex are worth investing. fundamentally, AUD is the best , period. off course, depending on the time u enter

Why not 6k? i'm not a student bro.. I just migrated here and just got my PR letter today.. Im officially a PR in Oz now.

This post has been edited by tpl: Jun 24 2010, 04:31 PM

there is a limit of working hours to your student visa conditions.

furthermore if you can work full time, either you are a marvelous student or just plain not studying.

anyway, my statement applies to the general student population. there are of course exceptional ones.

congrates on your migration!

Thx bro.. Last time my first 2yrs student visa can work for limited time. my final 2yrs not permitted at all..

thanks guys, i think currently AUD forex FD is worth investing, if not mistaken time deposit has highest 7.2% !!

That was the rate before the credit crunch in the second half of 2008. NZD was giving as high as 9% while EUR and GBP were both yielding more than 4% that time.

For the CIMB airasia account, does withdrawal from ATM negate the extra RM5 per month cash rebate?
Also online xfer to other banks, will there be extra charges?

No. As long as you keep no less than RM5000 in your account and do not perform any over-the-counter transaction every month, you'll get the RM5.


They charge one flat rate of RM2. There is however an ongoing 50% promotion now. The last day of this promotion is 31/7/10.

currently using powervantage plus, and placing FD online.
thinking of switching from hsbc to cimb. should I?

That is totally up to you but bear in mind that Powervantage account is a current account while Air Asia Savers Account is a savings account. Besides, HSBC Powervantage account gives you unlimited free inter-bank transfer while Air Asia Savers Acccount doesn't.

so far only issued 5 cheques. haha. not fond of writing. prefer to transfer online. anyway i will move the bulk of my funds to CIMB. need to keep hsbc for salary, and until the term for the easipay thing ends.

I think there is a monthly fee for your Powervantage account, right ? Ranging from RM5 to RM15 depends on what kind of Powervantage account it is.