Is it still save to deposit money into Citibank Malaysia? Would this international bank be affected by the US crisis?

I am thinking of depositing money here....

recently, i opened a monthly auto renewal fd in pubic bank, and the rate was 3.0% per annum....while my bf who opened in cimb and eon bank - have a slightly higher rate of 3.1%/3.2% per annum....

and....public bank - they don't provide a fd cert cover unless asked, and when i requested, it is out of stock, and gave me an envelope instead - while eon bank provides a cover without having to ask....

1. 2.5% per annum, most bank (currently)
2. compounded monthly
3. 10k x (1.025)^3 (assuming that 2.5% stays for 3 years) = RM 10,768.90

This post has been edited by leongal: Dec 10 2009, 03:16 PM

fd should be part and parcel in your core portfolio, while you can do more risky types of investment in your satellite portfolio....

the additional 2-3% is the currency risk

i passed by ambank and saw their advertisement saying that if you put for 60 months, it will be 4% p.a.....but i dun think it is worth t do so....

to get the compounding effect, you should instead put 1yr fd and annual renewal (but this will lead to a lower annual deposit rate)

yes, no guarantee return with unit trusts - it depends on the market condition and what the fund is invested into

10% a year is possible, provided the market and stocks that the fund manager pick came out positive, but this rarely happens

usually unit trust is for medium to long term, i.e. preferably beyond 3 years to see the returns

i was checking on my short term/ emergency cash which is in MBB fixed deposit, the current rate for monthly FD at MBB - conventional fd is 2.75% per year

wta - if i have a fd in a bank for some years, can i go to the bank to receive an update on my fd?

wa...dun scare me, can fd monies become unclaim monies ah?

just checked: Fixed deposits (without automatic renewal instructions) which have matured - being classified as unclaimed money

Source: http://www.lawyerment.com/library/kb/Banki...anking/1146.htm

phew....mine is auto renewal.....

wow...din noe about this......thanks for the info

yes, for the small rat like me, the difference in its rate, does not really make much a difference, so, no nit the hassle when banks come with some promotion on their fds

just calculated, if i take up the PBB step up rates, RM 10,000 - lock up for 10 months, at prevailing rate of 2.75% per annum, compared to a normal monthly renewable fd, onli earns you an additional rm23.41

http://www.ambankgroup.com/ambank_webmedia...Individuals.pdf

no penalty for early withdrawal, just that you will lose your interest earned