good point, thanks.

will aud move higher or lower, that's the question, isn't it?

hi, newbie here...

anybody has more info about Bank Rakyat Qiradh General Investment Account-i?

what kind of investment a/c is this?

what are the terms and condition?

Is it protected by PIDM?

Like I mentioned earlier only god knows... too many infinite variables at play. Not too long ago it was AUD/USD 0.65!!! Go check it out if you don't believe me.

Only a month ago it was 3.2 and now it's below 3. If you are into technical analysis, you could probably read the trend in the next couple days and take note of what RBA has to say early next month.

It's like FD and the terms and conditions can be easily obtained at BR's website.

It's not protected by PIDM but by your government

Go to FD Thread V2 and V3 and do a search on Bank Rakyat or BR where we had many discussion on it and many of the members here deposit their money with Bank Rakyat and therefore not have to go waste time chasing after FD promotions.

This post has been edited by Gen-X: May 28 2013, 12:09 AM

The lowest was 0.60 at one time, I can remember clearly.

AUD should be in bearish trend for near future, as many expect RBA to cut rate, and with commodities price is not flying as well as expect China to slowdown a bit which could dampen the demand of resources from Australia.

AUD interest already lower than RM, so RM is more attractive than AUD for time being.

0.65 exchange rate? Cant find...


http://www.nzforex.co.nz/currency-converte.../10000.00/false

Hear hear, when cherroy comment take note

But Bro, what is your take on USD against MYR?

why you using that link, go google AUD/USD chart and you have plenty of sites to get detail interactive charts to refer to.

This post has been edited by Gen-X: May 28 2013, 12:03 PM

End November 2008 dropped to .62

hi guys, i just got my AFFIN 4-month FD matured yesterday. Any good deals for RM100k short term FD (3- 6 months)? OCBC doesn't work for me as it looks complicated and the location of OCBC bank is just too far for me. I read the posts in the last few pages but not much discussion on the latest FD promotion.
Thanks in advance.

I knew, that was when I bought in AusD, but our friend said not long ago which I cant find it as I was monitoring the rate since beginning 2013....I guess it is different interpretation "not long ago" ....thanks anyway

Nvm, already got one 3.2% with PIDM coverage.

This post has been edited by DAViS: May 28 2013, 03:34 PM

hahaha, that is why I said go google for interactive charts.

Anyway, my reply was for AVFAN where he posted a quote stating rate was 1.04 and I wanted to point out to him how low the exchange rate can be since he's new to AUD.

Bank Rakyat

Actually OCBC 4.5% 3 months FD is not complicated, place RM33,333 into Smart Savers Account (2.4% interest assuming you don't deposit a sen after the initial deposit) and RM66,667 into FD and you'll get effectively about 3.8% for 3 months (if you deposit early in the month and withdraw the money from the Smart Savers early in the month). But then again if you go with Bank Rakyat you'll get 3.65%, so for 100K we talking about only RM37.50 if you were to go with OCBC vs BR. So I guess since OCBC is far for you, it's not worth the while.

However, if you have a child and willing to consider 2 years tenure AND not interested to deposit with BR, Hong Leong Bank Junior FD Promo is excellent where you earn first year 3.85% and second year 3.95%.

http://www.hlb.com.my/promo/pfs/dep_bill/index.jsp?s=promo

and click here to my FD Page where I have link to my article on Savings Account.

This post has been edited by Gen-X: May 28 2013, 02:04 PM

Hi Captain,

Thank you so much for the reply. I'm still a bit worry with BR, may explore the Hong Leong Junior FD promo since i have three junior saving accounts with them.....thanks again !!

yup, the exchange rate for cimb is a little higher. plus usd2 charge to convert rm->aud.
the banker i spoke with did not sound very optimistic about the aud in the near term, so i will not do it now. revisit in a few months or a year.

thanks for your comments!

hlb jr promos are usually quite good. in the last year, effective rate has always been >3.8% p.a. but are usually 1 year or longer. shorter periods, rate nowhere as good.

think the current promos still on. likely new promos coming in july.

hopefully new promos will come in july...
my FD ends by the end of july

Actually do not follow blindly what banker said.
Also if one want to put in AUD FD, means one is looking for long term, near term movement is not that important.

Generally, I do not advise people to put foreign FD for
1. Discrepancy of exchange, aka try to buy low, sell high as exchange rate spread can "eat" most of the profit can be made, unless through DCI, which is another front/different story.
2. Chase after yield discrepancy, as exchange rate spread can be more costly than the yield difference.

The primary objective of putting foreign FD is to diversify, to hedge against RM depreciation. (yes, you can 'lose" if RM appreciate, this is the price to pay).

We do not know when the trend reserve, normally whenever bulk of bankers told it is bearish or bullish time, normally it is "too late".
Just like very few people/banker made a call when AUD was 0.60 (vs USD time), as well as make big buy call when DJ was 7000 time. But we see lot of buy call or bullish view currently with DJ is 15k...
Same with gold, little made sell call when gold hit USD1900 time.

No offence to any bankers, to be fair, there are some good bankers, and some good call made by bankers as well.
Not every banker is the same.

UOB eAccount (CASA) revising their Interest Rate from 1 June 2013



You can temporary place funds while waiting for better promo FD rates.
UOB eAccount offers FREE Interbank Giro (IBG) fees too.

This post has been edited by ronnie: May 29 2013, 01:52 PM

Malaysian Ringgit always undervalued.


Interest calculated daily or what?

now all the fd available are below 4%?

Too bad, had just opened MBB i-Saver a/c.