Aiya, I was given wrong info by CS . She said I need to open an Islamic SA.

Bro, I also thinking if should go for more than 12 months. But thinking about it, nothing to be confused.

1. Lock in rates now. If rate go lower you'll be happy you did so.

2. If got opportunity to buy MBB at RM4, what the 4% penalty for premature withdrawal compare to the potential 100% gain

this is very interesting. never considered that... but was thinking what else happened in 2008-2009...

with all those troubles in 2008, what did "they" do to get rates down to 2% by 2009 so that people continued to spend n consume?

i m not well not versed with the subject but i do think that has to do with a major change in policy in 2008/2009 - gates of debt opened, hence continued consumption/gdp growth while gomen n domestic debt started to climb dramatically since 2009.

question is... is there capacity now for same debt recipe to get us thru this time? if no, what will happen to int rates, bond rates and rm exchange rates?

Yes, initially I thought need to open Islamic SA, then the ABM (asst BM) said can use existing conventional SA for interest crediting. Also interest payment can be monthly for those >50 yrs old or semi annually for youngsters (like us, ha ha ha ).

For me, I normally take the middle road. My plan is still some 3 years, 2 yrs (Affin 4.38%) and mostly 1 yr FD. Last year 2014 have put in 3 mths and 5 mths FD. Starting to mature now and can take advantage of recent 4.12%, 4.38%, 4.5% rates. So if KLSE show downside, can terminate yearly FD for minimum lost to gain 100% (as Captain said) in short period of time !

This post has been edited by bbgoat: Jan 3 2015, 03:00 PM

Bro, with crude oil price below USD60/barrel now, you think our debt going to increase or government going to revise the budget? Debt is suppose to be good to boost the economy

To ALL:

Anyway, I just updated my Fixed Deposit Page to include Hong Leong Bank Junior FD which actually cybpsych reported back in V7.



Hong Leong Bank Junior FD is supposed to be for kids. But the fact is that it is good for adults who are parents and even grandparents.

Click here to read my article The Best Savings Account in Malaysia for Children, Adults, Parents and Grandparents. In this article I mentioned that the Hong Leong Bank Junior FD is fantastic for seniors who have grandchildren. This is because HLB Junior FD offers better interest rates compared to their Senior FD Promo!!! And best of all, HLB Junior FD credit the interest monthly.

Hong leong offering 6.98% for 2 months FD..
Requirement is to invest 50k in unit trust

max cap ratio
1 to 2

This post has been edited by Bonescythe: Jan 3 2015, 04:09 PM

Long time no buy UT. Just to update my own knowledge, wat's the front-end, annual mgt & switching fees nowadays? Sorry if OT. Wanna get info for when the time comes ... not now la ... but why do the banks think it's a good time for us to buy UT now?


lemme guess, probly increase? less oil revenue

This post has been edited by okuribito: Jan 3 2015, 04:44 PM

Did u put a FD and get the promotion rate?
Received sms is not confirm u are entitled.
Some bank even send sms even uou terminate the credit card or close the bank acc.

i wasn't really expecting much response to my question as this is fd n that is a much bigger issue...

anyway, with all this debt/crude-commodity low price/bigspender-allisgud-gomen, i will be the last one to think fd rates will go lower in the next 12-36 months.

i just hope depositors give a little thought if 2%, 6% or 10% fd is on the way or not... n why.

i dun remember much about 2008-2009 but more about 1998.

This post has been edited by AVFAN: Jan 3 2015, 06:04 PM

Do you by any chance happen to know the SA rate?

Can't seem to find it from CIMB website...

2 months 6.98% compared to board rate FD 3.15%,
extra Rm320 can be earned for 50K.

50K unit trust, front charges 5% = Rm2500...

try this microsite http://www.cimbyouth.com.my/

accounts http://cb.cimbislamic.com/index.php?ch=ci_...pt=cimb_islamic

rates http://cb.cimbislamic.com/index.php?ch=gen..._rates&recId=90

Hong Leong Bank Priority Banking Enhance PowerLink 6.98% Promotion

More info: HLB | T&Cs (EN) | T&Cs (CN)

hehehe in my books that's a water fish deal... in my books only lah. Still 5% frontend meh?

3% only. Hehe

so 50k, 3% is 1.5k

100k 6.98% for 2 mths is rm1163.

So is waterfish deal?

Share market already very low low ? Good time to lock in position for UT ? Hmm.. is tat wad the bank thinks ? Haha

I thought I have seen before in this thread mentioning grandparents can place Junior FD. Last Dec I went to HL and the counter staff said no. Ended up get my daughter to sign up Junior FD for my granddaughter. I am still interested in the 4.28% with monthly interest credited.

You need to count against the board rate, aka how many "extra" interest earned, not the total FD interest.
100K 6.98% vs board rate 3.25% is extra RM640, as without need to invest in UT, you still easily can get 3.25% 2 months FD out there.

You get extra Rm640 by going into the deal, while incurred front charge of 1.5K (if it is 3%).

I never said it is a waterfish deal, it is a good deal is one original wanted to buy the UT in the first place.

But if one never interest in UT, and solely want the higher FD rate, then it is a different story.

I agreed that the FD promotion should only be an extra incentive for the UT investment. In the first place, we have to be already looking to buy UT. Then the extra incentive just made the deal. Should not be because of the FD promotion, then go into the UT/FD bundle.

Bro, I was the one that mentioned it in 2012 when I published my article The Best Savings Account in Malaysia so that grandparents can get better interest rates compared to HLB Senior FD!!!.

II you had read my article, here's the link once again just in case you may want to waste your time- The Best Savings Account in Malaysia I mentioned my experience on what is needed for a grandpa to open a HLB Junior Account with his son and grandson/granddaughter (all surname the same). FYI, my dad opened a HLB Junior FD with me and my son AND it was addition to another two existing HLB Junior FDs I already had, i.e. one with the same branch (my money) and another one in a separate branch (my son's money).

However, I did highlight that I got no idea if HLB allows a grandpa to open a HLB Junior FD with his daughter and granddaughter (since surname not the same). Then again, I see no reason why it cannot be done since a grandpa can open joint account with the son and grandson/granddaughter.

Next time you go to HLB, talk to the service manager or branch manager. And if they still say cannot, ask them to check with HQ. Another tip- terminate the Junior Debit Card on the spot. If they say the debit card auto issued with the account, well let them issue and then you have the right to terminate it after they issue (but out of courtesy inform them in advance).


This post has been edited by Gen-X: Jan 4 2015, 11:28 AM