Sorry, I made a mistake..

I have placed my 5 years FD there

Still have 4 more years to wait for the FD to mature..

If you put for 61 months, you can ask for higher than 4.6%.





This post has been edited by BoomChaCha: Aug 1 2013, 08:53 PM

I was not scared.

Now now a bit scared, since you asked me if I am scared or not..

This is a one way ticket, decision has been made, cannot regret now...

I want to save my time and energy for FD work.

Some are 4.8% per year
Some are 4.9% per year

But need to commit for 5 years tenure, and some are 61 months

No compound interest, but interest paid monthly into saving account.

This post has been edited by BoomChaCha: Aug 2 2013, 01:43 AM

I have 60 months tenure, rate is 4.8%
I have another 61 months tenure, rate is 4.9%

This post has been edited by BoomChaCha: Aug 2 2013, 01:43 AM

Bro Jebat,

Now we are in the casino, if the average interest rate is below 4.6% in the next 4 years, then we win;
and if the average interest rate is higher than 4.6% in the next 4 years, then we lose.

But when talking about Titanic issue.. , we just need to work harder to read the news about Bank Rakyat lor..

No need to worry too much la..if worry too much, how to do big thing..?

Bank Rakyat has been well established for many years, and they have been making profitable business.

But I was a bit worried when near to the general election this year..

I take this as a gamble, whether to make extra interest or to make less interest..

Of course I do not expect Bank Rakyat to become a Titanic...

If this modern Titanic does not sink , I would say most likely Abang Jebat and I should win...

When saying 5 years is so long, actually time passes very fast, now is August already.

For the past 14 months performance, I would say I won.

But let's see for the next 4-year results..

I only regret I did not take MBSB's 5 years FD at around 5.5% few years back because I was hesitant at that time..

I did not put all my money in 5 years FD.
I put some of my money in short term FD like 3 months or 6 months.

In fact, political party and the government are two different entities; but this excludes communist countries.

Let's assume Malaysia is a company, Malaysian are like shareholders of the company, Malaysian
hires (via election) BN to be the manager to manage the company.

If the manager (BN) steps down, the accounting department (Ministry of Finance) of the company
should still exist, but probably the accountant head appointed by BN will be replaced by the new manager.

Please correct me if I am wrong...

If you Ringgit amount is big, you can try to ask for 5% or maybe a bit higher..

At first they will ask you what rate do you want, you just say 5.2%, let's see
what is their reply first..or maybe they say ok...?

Besides the FD cert (available upon check is cleared), you will (probably) need to sign on a white color
A4 size paper calls Sijil Pelaburan BKRM, they will give you a copy for you to keep.

But I remember one member mentioned that he could get the FD cert on the same day when
he placed the FD.

And don't forget to ask for free gifts..

Good luck

This post has been edited by BoomChaCha: Aug 2 2013, 08:25 PM

And some more no need to pay income tax wor..

You are seeing the world now..

Cheers...

Ha ha.. I sit beside you in the casino..

When did you place your 5 years FD?

Did you sign on any white color A4 size form calls Sijil Pelaburan BKRM?

Did you get any free gifts?



This post has been edited by BoomChaCha: Aug 2 2013, 08:00 PM

Oh.. Sorry to hear about these, which Koperasi were that?

Did both of you get your money back?



This post has been edited by BoomChaCha: Aug 2 2013, 08:07 PM

Yes, I think the minimum deposit is RM 20K, if you want monthly paid interest.

Yes, RM 20K is qualified for requesting monthly paid interest, no problem.

RM 10K at 4.4% interest rate for 5 years

1st Year: 10000 x 4.4% = 440
2nd Year:10440 x 4.4% = 460
3rd Year: 10900 x 4.4% = 480
4th Year: 11380 x 4.4% = 500
5th Year: 11800 x 4.4% = 523


Total: RM 2403 / 5 years = 480.6 = 4.8% effective rate

-----------------------------------------------------

4.8% calculation is correct, but where to find 4.4% rate for continuously 5 years?

Anyway, I see your point here... The risk involved of placing for 5 years there...

This reminds me 4.7% for 5 years from MBSB...

Thank you


This post has been edited by BoomChaCha: Aug 3 2013, 12:58 AM

I also gave them banker's check, but all the times they asked me to come back in 3 days to collect the FD cert.

Last year July.

They never gave me the FD cert on the same day even all the time I gave them banker's check.

I know who you are talking about now..


This post has been edited by BoomChaCha: Aug 5 2013, 12:28 AM

I think I placed another one month FD from them after July 2012, they never gave me the FD cert on the same day, never and ever. It is quite troublesome for me to go back and forth.

Yes, maybe they changed the policy since September 2012, or maybe they did not trust my banker's check..?

But never mind lah... Anyway, they are very polite.

I will not place anymore 5 years FD there just like we cannot put all eggs in one basket.