The tracking period is for 3 month
1. May to 31 Jul
1. June to 31 Aug.

So withdrawal outside the tracking period shouldn't affect the ADB movement.

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

u talk like an unker...u older than 40?

I'm barely 30...still at wealth creation stage, not yet preservation stage

Here my case same as everyone is related to HLB and its was FD....

I have few foreign currency FD and maturity already... So went to the branch to update... Once updated, I went back home and get checked and realize my foreign currency become ringgit malaysia FD.... It appear USD$ 10000 become RM10000         The next day faster go back the branch and complain then my hubby keep scold them for so stupid and it was such a huge mistaken.... The staff just stare at there and keep say is RM FD even we keep arguing until the Branch Manager came out and just a look... The manager tell the staff that it was Foreign Currency FD and apologize... After a month, again go to update *got remind the staff regarding is foreign currency FD*, still same thing happened....      

To all the musical chair sifus:

When you are in between musical chairs, meaning, when your FD has matured and while waiting for another good promotion, where is the best place to park your money?
The wait could be a few days to a few weeks.
I usually park my money in CIMB Money Multiplier account - a current account that pays 2.5% pa if your deposit is RM10,000 or more.
Just wondering what better options there are.

If for less than 1 month, I will park in my HLB Junior Account. But the current interest rate of 2.95% is only applicable for first RM50K, but, I have few HLB Junior Savings Accounts and in different branches too. First withdrawal per month free, subsequent withdrawals RM2 Fee. Banker cheque fee RM5.15, luckily I have PB so it's only RM0.15/cheque.

good promo for Astro ipo. Shouldn't that in stock exchange thread?

6. interest for SSA is calculated for each month and no dependancy in between months, i.e. you can choose to deposit 1k the 2nd month and no deposit on the 3rd month

OCBC Smart Saver account interest of 0.5% is only applicable for the month you did a withdrawal.

If one does not withdrawal or deposit any money, the Smart Savers account interest rate shall be 2.5% for that month.

If you deposit (no withdrawal) RM50 to RM999.99 you get to earn 2.85% for a particular month.
If you deposit RM1K and above (once again no withdrawal done), then you are entitled to 3% interest for the month.

Example, you deposit RM1K on 28th August and then go withdraw RM1 on 30 August 2012, the interest rate applicable shall be 0.5% for the month of August 2012.

if you open account on 30 Aug, you have 1 to 30 Sept any day to bank in the money, RM1000 to earn 3%. RM50 to earn 2.85%.

If there is no other better offer in Sept, Oct...I will probably top up the previous saving combo hence no need to bank in RM1k ...if not I just deposit RM50 will do...3-2.85 = 0.15% interest difference only..

Bro, if you deposit RM1K in 1st September, you start earning 3% for that 1K  unless you got a better account that pays you more than 3% (of course cannot fight with the savings if you deposit into your OD account).
Bro, actually OCBC got a better interest rate Savings Account for IQ customers but you and me not qualified for it, haha.

the 3% earning is based on RM1000 or the total amount in saving account?

Yah, that is what I am being charged but gsc reported and reconfirm UOB only charge him RM0.15.
Yah, back in April 2012, I did a table for AUD Currency Time Deposit Interest Rate offered by UOB, RHB and OCBC where we can get between 3.4% to 4.6% Today, none of them are offering above 4% and OCBC is offering less than 3% except for one or two specific months tenure.

And the moment we convert to AUD for Foreign Currency Deposit, we are already losing money because of the bank's exchange rate.

Between May and July 2012, AUD strengthen close to 9%, and compared to the high in July, it's down about 4% today. And if you read the news, many analyst expect AUD to drop further. Now, it makes me think twice if I should go for AUD Time Deposit with our local banks (my daughter going to Australia next year for undergraduate course). Maybe if it goes below 3.1 to RM, would then go deposit some.

*Edited*
I just came across Maybank Master Foreign Currency Account Campaign for AUD/NZD/GBP/EUR where it pays 4.85% for AUD 6 Months. The Promo started back in July and ends on 10 September 2012.

Another option of getting AUD can be through DCI, so that can be converted at spot rate instead of incur exchange spread.

Gold perhaps CIMB got offer, 4% FD same amount when you "buy" their gold (no idea if it is cheaper than UOB in terms of buying and the diff when selling).

Aus$ fd provides highest interest rate among all foreign currency offered by banks in malaysia. Rate even higher than local fd. The exchange rate is quite stable.

Easiest and safest way with little or no risk to currency fluctuations is to purchase Currency Hedged Foreign Government Bonds. But please note that it is much riskier than FD, but pays yield of about 3%-5%.

magika & gsc, you guys really patient in spoon feeding smsbusiness2u. He has been asking about OCBC for the past 2 months and up to today it's like he still got no clues and asking what has been discussed over and over again about OCBC Premier account 5% See below, he first asked the the 3 Products thingy on July 24 and again the same question on September 6 
To me, it looks like smsbusiness2u is still after post counts and just spamming. If one really intends to open an OCBC Premier Account for the last 2 months, he/she would have visited OCBC PB and obtain the necessary info; and more importantly, read the posts in this thread instead of asking what have been posted and needing to be spoon fed the same info.

And you guys may want to, read this thread - post#32, and see why I have awarded smsbusiness2u the titled of "LYN Forum's Need To  Spoon Fed King, hahahaha

magika,

Noted and thanks.

Just finished reading this V3, took me the whole morning in between things.

Very informative. Did not know that we are entitled to the extra FD interest if the mature date is on the weekend.

I have one FD with HL due on Fri and the counter lady suggested that I wait for a day later to withdraw as it takes some time for their computer system to update. Captain Gen X used Malboro cigarette as the value yardstick but I don't smoke. So I use durain as my value yardstick. Each day lost in FD interest = few good D26 durains  for me. I think I will insist that I get $ on the mature date.

Cheerio.

gark,

Noted and thanks.

Agree with your OPR & economy relationship. One thing I was having problem in understanding was the very high FD rate (12 or 16%) in 1998 period. Maybe the hand that pushed the high FD rate was the currency exchange issues due to the currency crisis in ASEAN then.

Any view (good and bad) on MBBS and other building societies for the FD growing platform ? Know that they are not covered by PIDM.

Cheerio.

Bro, FD interest rate did go above 10% in 1997/98 crisis but for a very short period like gark mentioned. That time was really hard for everyone, no cash flow and foreign banks withdrew loan facilities. Many people were laid off. But we learn from it. Now youngsters who have yet to experience a major economy crisis who think market can go up forever will be in for a ride of their life if another major crash comes.

I sold most of my stocks just before the crash and went in again near the bottom but that round did not make much because when it rebounded did not take the handsome profit in full but expected it to go back to same previous high (greedy) Even wrote about it in my blog with graph too.

And like gark mentioned, I was worried our purchasing power will be reduced significantly, so bought my first and only Rolex watch in 1998, haha. Now my no longer in production Rolex watch has become a collector's item

"Business loans dip" says today's The Star.

What can we infer from that w.r.t. future FD rates ?

Maybe what we are seeing now with the lower FD rates was the result of the decline in business loans some months ago.

My look ahead then is to go for the longer terms FD rather than 1 - 3 months.

Your view ?

aeiou,

Thanks for the graphs. I like collecting graphs like those.

Good point on the short term FD for the spending spree.

I take a long time to analyse and decide on big investments. So, 6 - 12 months FD still suit me, giving me time to decide. Market will take some time to recover and getting in on the recovery up trend is still OK w.r.t. medium and long term investments, in my view.

Cheerio.

Bro, because of you, i went to dig up some FD records, hahaha.

FD placement with MBB

July 1998 - 1 month 10.3%
August 1998 - 1 month 9.5%
Sep 1998 -  15 months 10%
Nov 1999 - 15 months 4.1%

Good example - SCB current offer, if our funds are only available after next week, there goes our chance.

Bank FD promo target those get attracted by high rate and continue to renew without moving out....bank wont like us, the kiasu group who switch around according to fd interest rate...somemore beating the fresh fund requirement by Rentas in the morning to other bank and bank in in the afternoon

I always move my matured FD to other banks with higher rate on time.
Unless if I do not have time, then I will auto renew it for 1 month first loh...
then will move my FD to higher rate as soon as possible...

But this switching FD process is very tiring lah...

Ai yah... Kiasu or Kiasi..? They do not bother me lah...
The most important thing is my wallet..

I have never used Rentas...

dear sifus... forgive me for barging in.

been reading the thread, and wondering, no offence... why the big deal about 0.01-1% difference between FD retes by different bank? there are many other investment options available that can easily trump FD

just learning

thanks

Get franchise for 4D outlet or one-arm bandit club license, haha

Got ah.. RM 1.2 mil per license. Want ah?