Fixed Deposit Rates in Malaysia V2, Read 1st post to find highest rate.
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 Apr 10 2012, 09:37 AM
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#1
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Senior Member
2,650 posts Joined: Feb 2009  
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quick question.
can i do this: 1. i put rm5k into fixed deposit for contract for 4 months 2. wait for 4 months to get 3% interest 3. withdraw it after 4 months, collect dividen 4. bank in again rm5k into fixed deposit, for 4 months 5. repeat all over again. which means in 1 year, i can get 4% x3 = 12% in a year am i correct? or i am too simple minded? |
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Apr 10 2012, 01:51 PM
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#2
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Senior Member
2,650 posts Joined: Feb 2009
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QUOTE(David83 @ Apr 10 2012, 09:39 AM) The 3% is per annum rate. You need it to divide with with 3 to get the 4 months rate which is roughly 1%. thanks for the info   i am not sure about the rate if its per annum or per month because some bank does not mention the unit rate. Now i know it is per annum rate QUOTE(ronnie @ Apr 10 2012, 10:23 AM) You are indeed SIMPLE-minded.... if you repeat it will be total 3% received after 12 months. thanks for the nonconstructive post  |
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