FD - can in and out whenever you like

Endowment plan - fixed annual commitment, you cannot miss the premium annually, if not previous paid premium can be burned and left and little surrender cash.
Cannot withdraw at anytime until matured which could mean 10,15 or 18 years later on.
Even you are starving to death, and you have millions inside in endowment plan, you also cannot withdraw for emergency.

im new to this FD..so in my head the calculation when i put in rm40k in a bank with 3.2% for 3 month is..

rm40,000x3.2%=rm 1,280

so end of third month i will get rm 1,280..am i corret? thanks

No. At the end of the third month, you'll get just around RM320. The 3.2% is a per annum rate.

then if i put in rm40k for 12 months..so it will be like 3.2%..
so in the end of the year i will get rm1,280?

YES. A full 12-month FD will mature at the end of period without any alternation.

then i think its better to put the 40k in ASB cos i will get like 7.2%..so i will get rm2,880..

If you are Bumiputera, ASB is your safest & best investment with high yield....

oh ok..thnks all for all the info

hi all sifu,

Anyone knw KFH's Deposit Komoditi Murabahah Antarabangsa-i (“ICM”) which was ended in Feb'12 is now extended but must buy min 10g Gold Account-i. Int is 4%, effective rate is more than 4% as profit is paid upfront.

Does it sounds good?

anyone know if HLB got FD promo next month?

if you read back few posts, I mentioned they do currently have promo, but need to deposit 10% into CASA. Promo till June.

RHB also have new step up promo up to 4.88% for duration up to 12 months and also need to deposit 10% into CASA for 90 days. Yet to work out the average (now got new hobby busy conquering ancient china on RTKXI, haha). Anyone willing to work out the average? Link below

http://www.rhb.com.my/Whats_New/deposits/stepup_fd/

The average is 3.638% for 12 months

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Added on March 28, 2012, 10:28 amThere is another promotion from UOB.. but need min 10k into their CASA

http://www1.uob.com.my/personal/promotions...FD07032012.html

This post has been edited by insaint708: Mar 28 2012, 10:28 AM

UOB FD promo is better.

UOB FD
- 10k minimum
- 3.7% pa
- No saving or current account required to open

RHB FD
- 10k minimum
- 3.638% pa (effective rate)
- Must open a saving or current account and deposit an extra of 10% of the amount of your FD into the account.

For the RHB 3.638% did you guy take into consideration of the 10% 90 days in CASA (assume negligible interest)?

If yes, then 3.638% is competitive.

If No, then please someone work out the average for RHB.

3.638 is without considering the 10% that is locked for 3 months.
I've done a quick calc, assuming no interest for the 10% from your FD amount for the first 3 months, and for the final 9 months the 10% put into a 9 month FD of 3.2% pa, the effective rate is around 3.526%

Note: no guarantee my formula's correct. To my best effort.

In this case, why dont one go for a 1 time full fd with rate better than 3.6% pa?

Just few days ago OCBC Islamic 12 months "FD" @ 4% pa still available.

The maturity date for one of my FD with CIMB is approaching.

1. What happens if i am only able to attend to it later than the maturity date?

2. If i choose to renew, it will then be based on the new rates, right ie sign a new document etc?


Thanks

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Added on March 28, 2012, 7:53 pmAlso, will be placing a new FD with bank rakyat, hoping for better rates

This post has been edited by Human Nature: Mar 28 2012, 07:53 PM

If you do not attend to it, they'll auto renew it. I believe the interest will be added to the principal.

After renewal, then, if you withdraw it, you'll be getting any interest for the new renewal.

the highest of all is still 4.7% at mbs, 5 years, 6 monthly int. that is No. 1
2nd is still BR., rest rank lowere down my list.
fluctuate so what, it consistently gave me 4.0-4.6% last few years, even if at low(4.0), it is still higher than most others.

This post has been edited by guy3288: Mar 28 2012, 11:17 PM

may i ask what is MBS?