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Fixed Deposit Rates in Malaysia V7, Please Read Post# 1 & 2
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robert82
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 Oct 17 2014, 03:51 PM
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I scattered my FD to multiple small FD, ie:
1,000 for 1 month
1,000 for 3 months
3,000 for 6 months
For the purpose of ease of withdrawing during emergency.
It has now grown to extent it is all over the place.
Would you guys take it out and move it to another for the hassle or let it be?
Ie, if a bank offers better rate, when the rate expired, did you guys take out the fund and move to another bank?
I find it a little too troublesome lol
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robert82
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Oct 17 2014, 04:11 PM
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QUOTE(cherroy @ Oct 17 2014, 04:01 PM) Only do it at your convenience. Purposely drive there to do it, will incur most cost in term of petrol, parking fee, toll fee etc. Eg. 3k, A bank with 3.15%, B bank 3.7%. Extra rate can be earned 0.55% x 3K = RM16.50 after a year. So purposely drive there and spend time and incur those fee above easily can cost more than Rm10.00, which is not worthwhile. But if already want to do other stuff together with it aka at your convenience, then seems no harm done. Thanks, calculated, its about RM100 extra per half year. Doesn't seem like worth the effort to move the cash around. |
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robert82
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Oct 17 2014, 05:06 PM
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Out of curiousity, any idea why banks seems to lower down the FD rates?
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robert82
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Oct 20 2014, 01:29 AM
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QUOTE(kevyeoh @ Oct 19 2014, 11:44 PM) from what i monitor... CIMB reduces their monthly rate by 0.1%, but then again, other banks were offering at 3.15% and CIMB offered 3.25%...so not surprised that CIMB lower the rates... so do you mean all banks or just certain banks like what i mentioned above? I thought all banks lowered it, seems like only cimb lower it. Sorry for the confusion |
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robert82
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Oct 29 2014, 04:43 PM
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RHB has this 50k FD placement which gives gold plated goat figurine.
Ok ar?
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robert82
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Oct 29 2014, 05:03 PM
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QUOTE(cklimm @ Oct 29 2014, 05:01 PM) Need to put same amount of FD into CASA.  means the 50k minimum must be put into my current account? Or I need to put 50k in FD and another 50k into current account? |
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robert82
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Nov 19 2014, 02:14 PM
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missing out this medklinn cause i'm not in country  |
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robert82
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Dec 24 2014, 06:41 PM
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Hi,
I read up on PIDM and would like to clarify few things just to ensure I fully understand it.
So it says PIDM will protect my money up to 250k.
Assuming I have 300k in Bank A now. Only 250k will be protected.
So if I shift 50k into Bank B, will the 50k be protected as well?
Thanks.
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