I would think so. And what funds you talking about bro? You are in debt, no positive funds.

Do what you are doing now (if you cannot get a better investment deal) to get to positive territory soonest possible.

This post has been edited by Gen-X: Oct 14 2014, 11:08 PM

What's the most cost effective and right way to write a will for only FD?

I am reaching positive territory very soon. The amount of money in my flexi-loan CA is almost the same as the loan amount.

I was thinking instead of settling the loan, is it better to leave the money in the CA account? basically, this loan is interest free once i hit the equivalent loan amount.

I was also wondering since the BLR rate is higher (in my case 4.95%) than any FD rates, does it make sense to put in even more funds or money into my flexi-loan account?
Instead of opening an FD account which has a lower yield..

This post has been edited by kimmo88: Oct 14 2014, 11:26 PM

Bro, from what I gather above, yah does not make sense to go with FD.

By the way,

1. If you settle the loan now got no savings at all? Sure got interest savings on the outstanding loan amount.
2. your loan will be interest FREE? Or is it the interest earned in your CA will offset interest imposed? Thus you earning nothing.

If you ask me, settle the loan and be debt free and upon settling the loan, your net worth is already in positive territory, i.e. worth of the property and no liabilities. And more importantly since you no more debts, you no longer working for the bank.

I am kind of blur on loans maybe other can be of assistance especially our financial guru and Mod cherroy or maybe you should go ask those in Flexi Loan Thread.

Thank you sifu Gen-X, great blog btw! I also felt it is abit off topic. I just found a thread on flexi-loan vs FD and reposted there.

Thanks for the contribution from all sifus. I'm gonna deposit some funds from CIMB to MBB islamic 4% upfront interest FD tomorrow. The min amount is 25k?

For SC "Just one AC":
There are 3 types of Just One AC holders ie Personal, Preferred and Priority with minimum deposit of 1.5K, 5K and 10K per month to enjoy the same benefits like 1% extra interest. It would seem a bit silly to open a Priority one compared to the Personal one in this case. Can anyone enlighten me on this one?
It seems that Just One Priority AC may be the only prerequisite to enjoy the so called 4% and 4.25% FD promo earlier.

This post has been edited by kwokwah: Oct 15 2014, 02:32 AM

With SCB 18 months FD@4.25% promo over, next best is PBB FDxtra 3.68% + 4.08%?
if you don't have account in the any of the '3 banks'.

This post has been edited by kimmo88: Oct 15 2014, 11:41 AM

MBB promo:

3 mth FD promo is 3.87% (step up), min 50k

12 mth FD 4% with upfront interest min 25k

No, PBB step up is 3.68% + 4.08% (ur typo error ?). Effective rate is 3.88% only.

For MBB, try to ask and convince them the fund has to do with the 3 banks. If not UOB 4.05% 12 mths is the second best one so far.

This post has been edited by bbgoat: Oct 15 2014, 08:32 AM

Can't seem to see anything regarding the 4% Promo on Maybank site - any idea when this expires?

Also a couple of other questions :

Citibank FD (placed to get a CC) maturity 27/10 , CIMB maturity 28/10 can I uplift these on maturity date, or only the day after?

Maybank FDs (again, placed to get CC) - bank holds original cert, is it possible to uplift and move them to this promotion (maturing tomorrow)

Existing Maybank FD (Islamic, 2 month) maturity date is in November - but only at 2 month board rate so won't forfeit much interest - will be looking to put this into the same promotion also

If you read the earlier post, you would have known that MBB promo is "under counter".

By the way, Captain Gen-X , any discovery of "under counter" in MBB yesterday ?

You can always uplift the FD on the maturity date.

Ah I see, Thanks. Good to know - only placed FDs so far, never cashed out

I'll message my RM, see if she knows about it

This post has been edited by rjb123: Oct 15 2014, 11:28 AM

summoning our captain Gen-X

Thanks bbgoat..Will try UOB in that case! No point convincing MBB if their rates is lower than UOB.

MBB good point is upfront interest paid immediately. That can work out to be higher than UOB's 4.05% if you used the paid interest for another FD. But you cannot go wrong with UOB's 4.05% 12 mth FD.

Upfront interest paid immediately! this is something new to me! So, you can rollover the interest paid to another FD. A bit of a hassle to open another FD. I will try UOB then.

fund are from 3 banks only can get the so-called under counter FD promo

Some of their branches don't really care. I mentioned that few times already.

You can do the other FD there and then subject to the minimum amt required. MBB seldom have FD promo that is so good !

No hassle and u can do it in 1 FD.

Say u have rm104000 cash but want to keep about rm4000 for expenditure.

Put in rm104000 in 4% FD and get rm4160 interest paid upfront for expenditure, 1 time FD only.
Instead of put rm100k in 1st FD then take the interest of rm4k as 2nd FD. Almost same result, I think.