just to clarify, is it okay to discuss

local currency (RM) and foreign currency FD here? Purely FD and NO dual currency investment, am I right?

Please discuss FCFD at here:

https://forum.lowyat.net/topic/512136/+420#entry45861224

Yup exactly,

Dollar for dollar. I do have investments in both Australia and Malaysia. However when I invest in Australia I do not think about the currency change but how the value in itself can help increase my investments. Therefore, I still haven't got an answer,,is it better with 6.50 variable savings account or 5.50 fixed deposit?

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Added on March 22, 2012, 3:06 pmBankwest, it has a 6.50 % right now.

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Added on March 22, 2012, 3:10 pmYeah , that was what I was wondering too For now, I have two fixed deposits with HSBC. However, the interest gained on AUS FD is soooo much higher that I am actually thinking about taking out all my FD in Malaysia and putting it into Australian FD. Even after the loss of exchange rate and bank fees,the returns is still higher. For example, I have gained the same amount of interest on my savings variable intersest account in ONE month(Australia) compared to a FiXED deposit account in Malaysia for THREE months. So yea, even one of my friends who does banking in Malaysia came down here for a holiday one time and we were walking pass the street and he saw the interest on a normal savings account and was shocked. So now I am putting some of his cash in my account since I already have a visa.

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Added on March 22, 2012, 3:14 pmDon't worry about that buddy. The interest gained will be more than enough to cover the loss of during the exchange rate/bank fees. EVEN if AUD depreciates- the interest gained will make up for the loss.

This post has been edited by Beachkid: Mar 22 2012, 03:14 PM

Variable savings account ? As in those internet savings accounts that provide one flat interest rate for up to AUD5 Million ?

Anyway, there was another regular who stayed in Australia just like you and we talked about this briefly about 2 years ago. He said something about you have to pay tax if your total savings is more than...?? Forgot what's the amount already.

Yup you do. You also get taxed on interest if you are non-resident or resident. Yup that one, the drawback is you can only deposit 500 aus a month maximum and you cnanot withdraw-in other words it's like a fixed deposit with a variable rate..weird i know. But if you think about it as a reserve( untouched money), it's basically just sitting there gainig you huge amounts of interest per month. And all you have to do is just transfer 500 aus a month. Of course, I use other accounts too, but this one is a really good reserve compared to any plan in Malaysia.

fixed deposit and unit trust got tax?

FD no.

UT got at corporate rate upon distribution being is declared. 25% I think.

david83,

thanks

so no matter hw many or small, FD is taxfree?

while UT is kena tax?

Saw in today The Sun, Bank Rakyat, Qiradh General Investment Account-i, return up 4.6%, min. RM 500. Profit credite monthly.

It's the same as what we discussed over one or two months ago.

Maybank now offers FD Loyalty 2+2 Campaign

2 months FD @ 3.20% p.a.
Renew for another 2 months @ 3.20% p.a.

This exciting FD Loyalty 2+2 campaign will commence from 12 March - 12 April 2012, or upon reaching the set target, whichever is earlier.

Mode of Placement :- Over the counter only.

The special rates are offered only for new placement. Automatic Rollover of FD certificates from previous period will not be entitled for this special rate.

Terms & Conditions : http://www.maybank2u.com.my/WebBank/FDLoyaltyTnC_130312.pdf

Hey guys,

Does Public Bank set a minimum amount for 1 month FD?

Generally is RM 5k for 1-month FD.

Hi All, banks usually can offer a better rate for a big amount of FD...
any bros here have any idea of the min amount to request for a better rate?
like 1M, 500K or 750K?

say i wan to put in for 1-year FD, assume the normal rate is 3.6%, what is
the usual better rate the bank can offer with the large amount of FD?
3.7 to 3.8%? Thx in advance~

Searched alliance bank website, could not find info on 3 month 3.6% FD wor. Is it true? Anyone opened FD there?
Moving my funds from ocbc so ocbc is not a choice for me.
Seems 3.6% is the best offer at the moment for 3-6 month FD

guys, I went to UOB for my housing loan and the banker told me about a savings plan.

Deposit RM10k per year up to 5 years.
Each year get RM1k.
From year 6 to year 30 (depending the duration of savings), get RM2k per year.
From year 6 onwards, get benefits something la.
So, after 30 years, total saving will be around RM180k+.

What kind of savings is this? FD? TD?

Endownment Plan by Prudential

anyone got any idea how many % of Malaysian actually put their money in FD?

Yes, that is it. I think that's what she told me.

So, I searched in LYN for an existing thread but doesn't seems to have one about this plan, any pro and cons compared to say normal savings or FD?


That's why, I'm thinking to save but not sure should I go for FD or this Endowment plan. or unit trust.

This post has been edited by nyunyu: Mar 26 2012, 02:00 PM

Personal Opinion: Endownment plan is not worth it.... High annual commitment rate. RM1k a year is so little...