Wah, what you mentioned above is really a good offer. Looks like a lot of members here going to sign up for it.

Ok let's see, assume one get CL 10K. So can get cash RM5K. Deposit into FD 4% for 2 months, get interest about RM33. Less GST, Annual Fee and RM10 service charge, still rugi about RM97.

To break even need CL about RM30K.

if you read above post by cenkudu, it was mentioned that they are strict about GST and annual fee.

Aiyah, why you never mention earlier.

So based on above new info, if need to pay back in 55 days, the withdrawal fee works out to be minimum approximately 4% interest p.a.. But if no fee over the counter, then different story.

Let's assume that one does pay if full every 2 months and can withdraw again RM4.5K the next day (assume max CL RM10K again), one can earn like RM202.50 a year (based on RM4500 @ 5% interest in FD). Need to increase profit rate to more than 4% else no diff. Any investment earning less than 4% p.a. rugi straight away.

So RM202.50 - (RM30 fee x 6 times withdrawal a year) = RM22.5 . Still rugi RM97.5 after considering RM50 GST and RM70 annual fee.

But if no withdrawal fee over the counter like your friend said, RM202.50 - RM120 = RM82.50 profit/year or RM6.88/month

This post has been edited by Gen-X: Jun 24 2012, 04:36 PM