so if i have 100k in AS1M and i withdraw it to put into FD i am considered stupid right?
okay noted.

if you're bumi, you should dump into ASB.

This post has been edited by Berkshire Breakaway: Mar 13 2014, 01:17 PM

I was puzzled by his comments too. I think he was not aware of the real situation.

why on earth u wanna withdraw from AS1M to dump into FD AS1M give average 6% p.a while FD highest 4%+ p.a

maybe Some people don't even realized that some PNB funds are open to all, they tot bumi only can buy. PNB need to do more promo

Nope, I'm non-bumi.

sorry if i came across as a weirdo, just trying to re-assure myself
sorry for using you i have about 300k in combination of ASM, ASW2020 and AS1M - now contemplating if i could withdraw it all and keep it in 3 month's FD cause i might buy a property in a few months.

Wah, this one sure everyone here ask you when want withdraw. Everyone sure go queue buy up your units

Where is Bro Cherroy ? I think proper elaboration is in order.

Cherroy hasn't replied here since a month ago wor.

Ya, NID. Need further insights.

Wa sai, above 100k not much lor.

Minimum 100k ma

I've no idea about NID either, first time hearing bout it. Does other banks have it?

Huh... No idea can buy first find out later...one.. Thats why need to summon Cherroy !

Ps: Can give your contact number, can recomend salesman business.

is it covered by PIDM?

Summoning Cherroy
I found this on Google: http://www.bankinginfo.com.my/04_help_and_...micinfo=yes%27)

IINM, no PIDM.

okay, I'm no expert but somehow I understand your situation. ASM divvy on 1st April. ASW2020 divvy on 1st Sept & AS1M on 1st Oct. u do the math & decide when u want to withdraw & use it to buy the property. Amanah Saham withdrawal is easy except when they "close" for dividend calculation. Normal banking hours, Monday-Friday

Hope this help u

Negotiable instrument of deposit. I'm aware that Affin Bank have them. But first time hearing retail investor can buy them.

Who were able to invest in NID previously?

We contacted the branch manager before going to the bank for their FD rates and he told us that we can opt for NID if we are interested.

Negotiable Instruments of Deposit (NID)

Negotiable Instrument of Deposit (NID) is an instrument issued by a banking institution certifying that a certain sum in MYR or Foreign Currency has been deposited with the issuing bank for a certain tenor at a specified rate of interest (coupon rate may be fixed, floating or zero).

WHAT IS A NEGOTIABLE INSTRUMENT OF DEPOSIT (NID)?

NID is deposit document issued by the Bank to a customer certifying that a certain amount has been deposited with the Bank at a specific rate and for a specific tenor (i.e. with specific maturity date).
Unlike Fixed Deposits (FDs), NID is negotiable. This basically means that it can be sold before its maturity date. If the customer needs to realise cash before the NID maturity, he has to sell the NID. However, the NID cannot be withdrawn prematurely like in FDs.

GENERAL CONDITIONS

Tenor available is between 1 month - 10 years. Tenor may also be fixed in odd number of days e.g. 105 days.
Amount must be placed in multiple of RM50,000 subject to a minimum deposit of RM100,000 per deposit. Minimum denomination is RM100,000 and maximum denomination is RM10 million per certificate.
NID rate is generally influenced by interbank rates and may be higher or lower than the bank's FD rates.
However, for amounts that are below RM500,000, the rates are about the bank's FD rates. Like STCP, larger amounts normally have a higher possibility of attracting better rates.
Interest on NID is based on simple interest formula like STCP:

Interest = (PRINCIPAL x RATE x NO. OF DAYS) / 36500

http://www.hlb.com.my/hlm/hlm/hlmmpd.jsp?flag=hlmmpd

Some 250K,

All banks have it.


No.

NID is not a bank FD, technical it is different with FD.
It is more like structured product.

It is like you give bank a sum of money to invest into whatever as pre-determined investment product.