OD could have its usefulness. I used it as a standby facilty in case I need funds immediately without early FD upliftment. I do have funds maturing through various periods of the year. However I could not figured out my previous Smart Saver upliftment on 1 December (Saturday), whether I could use OD on 30 November for FD deposit. Nvermind my OD is not intended for that purpose anyway.

For musical chair players, having cheque current account is quite a convenience. Funds maturing/excess fund can be transferred and distributed from there. I uplifted my Smart Saver funds by online transfered to my current account, then issued a cheque for fixed deposit in other banks. Come to think of it, wonder whether can change my OCBC FD instruction on maturity to direct transfer to my current account. It not only will save a trip to the bank but sometime on maturity date we may not be free.

You can request for multiple Banker Cheques, but if not mistaken OCBC will charge for every cheque, not even one is free. Not sure for other banks. If intention is round figure,can bring extra cash/cheque to top up during deposit..


This post has been edited by magika: Dec 8 2012, 10:29 AM

Anyone knows which bank/branch opens on the weekends in the Klang Valley? Weekdays to do FD placement is really difficult.

AmBank - Sri Petaling, Old Klang Road, many branches in housing areas/suburbs
RHB - Look for those inside shopping malls e.g. KLCC
Maybank - KLCC

MGM, you can get a pasport holder if you show proof of deposit in PMA-I in November.

Hi guys..would really need advise here. im new ..just started working not long.

i have fresh fund of about 10K in maybank. Would like to put it in FD and not planning to touch this amount of money. Which FD should i go for that will give me the best return? there are too many promo now..duno which bank is more reliable and does not have hidden terms and conditions. Hope you guys can advise me. Saw the UOB 3.7% for 12 months promo..is it good? or got better ones.. thanks alot guys

If you are new would advised to read back so can get the feeling. Failing that if you are not too particular, the best around that is hassle free would be Bank Rakyat 12 mth at 4.01% and MBSB at 4.05%. Eventhough you are not planning to use the fund it would be advisable to place it in multiple certs. Go for auto renewal.

The most hassle free would be MBB efd which could be deposit and instant upliftment online thru Maybank2U though for first time placement it needs a few days. However rates are very low.


This post has been edited by magika: Dec 8 2012, 01:39 PM

what do u mean by place it in multiple certs? sorry im new here..thanks for ur reply..

Am bank in general open on Saturday and one in penang open on Sunday last time. In general those banks in the mall allow normal transactions on weekend.

Eg Some banks allow you to deposit in FD minimum amount RM500. So for your amount of RM10k you can request for 20 certs each RM500 for a total of RM10k. This is just in case that you need part of the funds for emergency uses in which case early upliftment above 3 months some banks will not pay any interest, some banks pay 50% below the prevailing rates and so on. I would suggest for your case to deposit RM2k in 5 cert so total is RM10k. There is no benefit for depositing in a single cert only, except for some cases where we need a certain amount to obtain preferential rates. The minimum amount in a single cert varies from bank to bank.

Quite a few banks open on sunday eg. OCBC n AmBank in Damansara Uptown (except if the Sat is a public holiday or it's a first Sunday of the month).



This post has been edited by 1282009: Dec 8 2012, 08:49 PM

The MBSB FD how do guys open it? Need to go to their branch?

For ocbc, upliftment of FD issued in your own name is free of charge and they don't really mind the number of banker cheques (guess as long as reasonable). To 3rd party there'll be 2.15 charge per cheque.

MBSB offer 4.05 % ? this would be the highest FD rate right

---

Added on December 9, 2012, 9:05 pmUT not all performing well lately it is for long term investment though, yet it depend what type of fund u are investing to, my FD flat rate low risk low return, UT depend on the local market or offshore market performance UT not fixed but during economic downturn it wouldn't gettin any better. My FD outperform my UT at the moment. With 10K only to invest in Blue Chip stock not much unit you can get and it is much better you stick to FD / UT first get to know the basic investment and learn from the fundamental investment before going to the higher risk of investment.

This post has been edited by aoisky: Dec 9 2012, 09:05 PM

Thanks for your thought and suggestion.

---

Added on December 9, 2012, 10:35 pmHmmm, seems different people got different experience again with ocbc. Thanks for sharing, I will ask the next time my FD matured.

This post has been edited by tbheng: Dec 9 2012, 10:37 PM

tried once OCBC banker cheque to my name is FOC. (Withdraw from matured FD)

Question 1 : No it is not a hedge for inflation
Question 2 : Not necessary better alternative, higher risk higher gain... natural order of things. Invest to your risk tolerance.

If you can stomach -50% or more loss for your holdings, then you might consider alternative to FD. For those who can't even take a 2% loss then FD is the safest bet.

Am at the risk of going off-topic here but here goes

Are you sure any UT will give >30%? There are ppl who haven't break even from the last recession.

(I manage to get decent profits from PCSF bcos I micromanage and switch between PCSF/PMMF, but how many % of UT investors are aware of the need to educate themselves?)

--End of discussion (I hope)--

This post has been edited by Medufsaid: Dec 10 2012, 03:23 PM

UT dividend is useless, you are paying from your right pocket to left pocket and get taxed in the process. If you don;t understand what I say you can ask further in the UT thread.

Stock dividend and interest paid from FD and bonds however, is a net gain for you.

This post has been edited by gark: Dec 10 2012, 03:28 PM

Does the dividend in UT even matter? if AMBMutual give you 9.9 cents, then NAV will be lowered by 9.9 cents as well.

Example : If UT is priced at 0.499 before ex-divided, after dividend you will receive adjusted unit price of 0.4 + 0.099 dividend paid to you (before tax).

You do not gain anything for UT dividends, don't be blindsided. The best way to see UT performance is growth in NAV or every 1 RM invested.

Anyway this is off topic, you want to know more. ask around in the investment fund thread.

This post has been edited by gark: Dec 10 2012, 03:53 PM

I got Rm20k , wanna put in FD, which one is the best rate in Malaysia ?