when is the next FD rates hike?

any expert forecast?

2 months for 4.5% then after that change back to their normal rate? Errr.. Then what's the good thing of this promotion? Sorry.. I'm noob for those Interest thingy.
I just put my FD then no bother till now. Just look at the compounding interest.

that is why most of the members are playing musical chairs.

bank promotion is to get the fund and some depositors will continue to stay on with low board rates.

Got new candidate for FRMONBWFDP!

Yah, added him to your group

and new member to FDMCGC - masbruno


In the previous page I posted a Maybank Islamic FD-i step up FD promo, it comes with insurance that covers Medical and Funeral Expenses too! Click here to MBB webpage on Maybank Islamic FD-i.

This post has been edited by Gen-X: Aug 10 2012, 03:15 PM

Guys,

Just a quick update, 2 days ago when I went to Maybank for the 6 + 6 months FD promo, they mentioned it has almost reached quota.

Wah! The promotion is popular.

play musical chair?? But not much interest unless you've RM 1million!

Ok la...

if got 100K, can get about extra RM50 a month... can watch a movie and popcorn with gf...

If u got 100K, what is 50 a month to you?

RM50 a month equiv to RM600 pa eq to RM7200 for 10 yrs not taking into account compound interest means a lot for min effort, not to mention it builds discipline to increase net worth. Just recollect a conversation I had with staff always buying on credit, answer RM50 per month only mah, then RM100 pm only. If compile all the purchases, then easily a few k installment per month on impulse purchases only..he..he..

depends lor...

for a hardcore musical chair player with 12 (or even more? ) FDs with 1 FD maturing monthly, the time (take half/one day leave...stuck in jam...find parking...queue at bank) and cost (petrol) might not be worth the effort

well, it's just me. cos to me, FDs are just a supplement/cash reserves, my main income builder/inflation fighter is my unit trusts

I am glad I am staying in Penang, playing musical chair does not need a lot of travelling as banks are clustered to each other. Well different people have different needs

You are right. it depends. It all boils down to the amount of money deposited. Those who have healthy bank balance find it worth the effort because once a month traveling cost to the bank is just a paltry sum compare to the potential extra interest income and those who earns extra interest but just merely cover the traveling cost definitely not worth playing FD musical chair.

If playing musical chair with FD that earn Rm5-10 per month, then might as well forget it, as parking and time may cost more than that.

So count the net earn from playing the music, see it is worth or not.
Remember to take in parking, petrol, and time cost.

when am I going to have RM 100k?

5 Free pack of Marlboro Lights

Here's a example of playing Musical Chair. Iif you see the previous offers (post #2), for 3 months FD we can get up to 4.5%- 5% pa. So assuming we can get interest rate of 4.5%, that's about 1.5% extra compared to Board Rates or extra RM375 with RM100K in 3 months time. 1 month of Free Marlboro Lights supply for me, hahaha.

Yah, Installment Plans is a trap to make people spend beyond their means.

Unit Trust - riskier so returns may be better

If just cover traveling cost, then shiok sendiri, hahaha

And also the Banker's Cheque Fee i.e. FREE or RM5.15. Make extra RM5 deduct RM5.15 Fee, Rugi RM0.15 for playing musical chair, haha

This post has been edited by Gen-X: Aug 11 2012, 06:57 PM

Gen-X is a pure FD fighter, no other investments?

I dont think you realised how much he is worth

Do you really think that he has not been thru all the investment things. or is still not investing ?
Passive incomes does not necessary confined one to playing oops slip of the tongue ..investing in unit trust.
Its what one does with money thats idle thats important.. as they say idle things breeds devils thought ..my saying only lah..
Gen-X passive income will be more than our monthly income..i think .. back me up lah.. if not why he is so free and bored with retirement..

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Added on August 11, 2012, 8:48 pmI think forex got better returns..

This post has been edited by magika: Aug 11 2012, 08:48 PM

Yea, idle cash sitting at bank is very dangerous...that's why I wanna "lock" them away in UTs and FDs...