Outline ·
[ Standard ] ·
Linear+
Fixed Deposit Rates in Malaysia V4, Please read 1st post.
|
MGM
|
 Apr 2 2013, 03:37 PM
|
|
For HLB Mach 4% FD, was told that after 3 months, one can make partial withdrawal, both the withdrawal and the balance enjoy 4%/annum interest.
Does that mean if one put in rm100k on 1/1/13 and withdraw rm90k on 1/4/13, the rm90k would enjoy 90000*4%*90/365 interest? So effectively the RM90K is like an 4% FD with a tenure of 3 month??
After reading the t&c below, I think what the Mach's CS said is wrong:
13.Would I be able to withdraw my Mach FD before maturity?
Yes, you can perform full withdrawals or partial withdrawals before maturity. Partial withdrawals are allowed subject to the following conditions: •Partial withdrawals are effected in respect of placements with tenures of six (6) months or longer and a minimum principal sum of RM10,000;
•Minimum partial withdrawal is RM3,000; and
•Partial withdrawals to be effected in multiples of RM3,000
However, there will be no interest paid for any type of withdrawals made within 3 months of the placement date. After 3 months, interest will be paid for the number of days the placement has been made for. The interest rate payable is only half of the quoted rate. Any surviving amount of the placement continues to earn the contracted rate.
This post has been edited by MGM: Apr 2 2013, 03:54 PM
|
|
|
|
|
|
MGM
|
May 23 2013, 03:12 PM
|
|
|
Read that when China slows down most commodities exporting countries'
currency will come down. AUD is considered the most overvalued. RM is surprising considered undervalued.
|
|
|
|
|
|
MGM
|
Jun 15 2013, 09:04 AM
|
|
|
QUOTE(DAViS @ Jun 15 2013, 12:46 AM) HLB quite snake, their MACH FD also snaky one. HL Bank MACH FD promo rate is 4% pure FD, which part of it is snakey? Pls enlighten us. |
|
|
|
|
|
MGM
|
Jun 15 2013, 10:52 AM
|
|
|
QUOTE(aeiou228 @ Jun 15 2013, 09:16 AM) To the contrary, I find MACH 4% 12 mth FD is the best in its category because it pays monthly interest automatically to my SA. With monthly compaunding interest, the effective rate is higher than 4% I second that. At least I don't have to play the musical chair for 1 year and yet to enjoy the interest monthly and if opportunity comes after 3 months I can partially withdraw it for other investment. The remaining balance will still enjoy the 4% interest. |
|
|
|
|
|
MGM
|
Jun 15 2013, 10:56 AM
|
|
|
QUOTE(cherroy @ Jun 15 2013, 10:13 AM) I do not think any FD can offer so high a pure 5.25% FD for full p.a. without any bundled, or not a step up one. The most 1 year FD which many can get is around 4% only, (be it step up or bundled package CASA or new customer promotion) 5.25% is 225 basic points above OPR rate (3%), it is almost impossible for bank to give such offer without any clause or package. Bank lend out at BLR and some home loan is offering at BLR - 1~2%. At 5.25%, bank can make a loss already. If there is, you may see huge queue for it. Please share it if there is (pure FD), many will rush for it on Monday morning.  If you are in retirement age, you can 'bank in" your money to EPF 'bank' and enjoy 5-6% interest with the flexibility of withdrawal. Somehow not many people are doing it, at least the people I know. |
|
|
|
|
|
MGM
|
Aug 11 2013, 11:05 AM
|
|
|
QUOTE(bbgoat @ Aug 11 2013, 10:39 AM) Up till now, I have only looked at FD of 1 year duration. But recently changed after seeing BoomChaCha's 4.9% rate for 61 months. Even some bond funds are talking about 4.5% return (which I was caught 2 years later with ZERO return, Citibank's RM told me recently due to bond market down  ). So BR's 4.9% is rather attractive. I think it is good to look at combinations of short and long term FD depending on the individual's age, investment philosophy etc.  Up till now, I am happy with BR's return of 4.2% versus Citibank's board rate of 3.05% for 12 months.  If you are close to retirement age, a good option would be EPF. |
|
|
|
|
|
MGM
|
Aug 11 2013, 11:15 AM
|
|
|
QUOTE(bbgoat @ Aug 11 2013, 11:10 AM) Yes, EPF is in my list. I used combination of normal FD rate, high promotion rates (mainly), EPF, stock, UT etc. Very well diversified. |
|
|
|
|
|
MGM
|
Aug 11 2013, 11:26 AM
|
|
|
QUOTE(aeiou228 @ Aug 11 2013, 11:18 AM) Another alternative is to "buy over" relatives and friends ASW,ASM,AS1M. But must travel to kedah or Terengganu to do the "transfer" and the amount must be big enough to make the trip worthwhile. This move will increase the chance of success for simultaneous sell & buy but not guaranteed. |
|
|
|
|
|
MGM
|
Aug 11 2013, 12:45 PM
|
|
|
QUOTE(aeiou228 @ Aug 11 2013, 11:43 AM) Yes not guaranteed thats why I said must do it in kedah, Terengganu or kelantan and do it on Sunday can achieve 99% success rate. Done that twice successfully. The reason to do it on Sunday is because most big non bumi buaya from the west coast who have insider working in the bank can't buy it due to non working day. Even if it not successful, no harm done, the "seller" still need to withdraw cash in the first place. You have successfully done it in banks or asnb branches? Can it be done in a cashless deal (asnb allows it?) where one sells and the money is immediately use by the other to buy? And buyer will pay seller by Bank Draft. This post has been edited by MGM: Aug 11 2013, 02:46 PM |
|
|
|
|
|
MGM
|
Aug 11 2013, 06:09 PM
|
|
|
QUOTE(aeiou228 @ Aug 11 2013, 05:44 PM) All cashless contra transactions at the bank's counter. Actually I'd done it 3 times not 2 times. All 100% success. Must go to banks for cashless transaction. Basically just cash contra transactions. Sell and buy completed under 3 min. Mojor big time buaya from non working states already filtered out and buaya from 3 working states definitely no way to kniw when the fund is available in such a short time frame unless the insider no need to work and just keep checking availability of fund every minute. Thanks for the info. Maybe can even sell at a slight premium, Haha. To optimise returns, best to do it on 1st of the month and a weekend. |
|
|
|
|
|
MGM
|
Aug 28 2013, 03:25 PM
|
|
|
QUOTE(magika @ Aug 28 2013, 02:49 PM) Now, dont concentrate on FD , look at stocks got very good offer currently ...  Yes, put money in high interest accounts like MBB-saver-i, CIMB MoneyMultiplier or stockbroker a/c and wait for cheap sales in StockMarket. |
|
|
|
|
|
MGM
|
Aug 30 2013, 01:15 PM
|
|
|
Wa, this taken from: http://www.bloomberg.com/news/2013-08-30/m...nvestments.htmlKWAP outperformed the 14 percent return posted by the Employees Provident Fund or EPF, the nation’s biggest state-run pension operator that manages 526.8 billion ringgit. How come EPF paid out only 6%? Just like ANSB, keeping for rainy days? |
|
|
|
|
Quote
0.0431sec
0.38
7 queries
GZIP Disabled