Fighting inflation as well as depreciation. How to win?

Year 1: 100000 x 4.2 = 4200
Year 2: 104200 x 4.2 = 4376.4
Year 3: 108576.4 x 4.2 = 4560.20
Year 4: 113136.60 x 4.2 = 4751.73
Year 5: 117888.33 x 4.2 = 49513.31

4200 + 4376.4 + 4560.20 + 4751.73 + 49513.31 = 22839.6

You are right...
But this provided if can get 4.2% every year for 5 year wor....

So this is telling us that for long term FD, we must get something like monthly interest,
or at least can get interest paid at least every 6 months like MBSB; otherwise no deal.....

Never use their services b4

Affin Bank: Revision of Deposit (CASA) Rates effective 1 August 2015

http://www.affinbank.com.my/General/Notice...e-01082015.aspx


Affin Bank: Customer Notification

http://www.affinbank.com.my/General/Notice...ication-AS.aspx

Please be informed that AFFINBANK and AFFIN ISLAMIC will cease issuing monthly savings account statement effective from October 2015.

Effective December 2015, you will be receiving the quarterly savings account statement. The statement for the quarter December 2015 will contain transactions from October 2015 to December 2015.

This is a double impact wor...
How to win...? Very difficult to survive for blue collar & white collar now...

Hopefully US will raise the interest rate soon...

Bro, wat type of Gift u get?

No lah.. Affin did not give me any gift.

The bank teller laughed when I tried to ask for it...
I placed RM 50K..

Not sure this is a right decision or not for 15 months...??
I think to take UOB 5 months FD is better...

Last year April placed effective rate 3.87% with OCBC for 15 months has been the
pain on my chest for many months since last year July... Ai

This post has been edited by BoomChaCha: Aug 3 2015, 09:04 PM

There is a reason, why a lot of time, those 15 months promotion FD, they need to be CASA related, as interest is credited into the CASA.

I see. So like that still not too bad.......

I may go for PB FDXTRA 12 months effective rate of 4.175% p.a. with individual min placement of RM20k promotion end 30 Sept.

I am

I agree with you on that. Too bad, it is not applicable for Affin 15-month FD with 4.33 interest rate.

Put shorter term la boom, any winter melon & tohu in the market, can straight away pack up.
I think Affin only pay interest upon completion of 15 months for this 4.33% promo. So if you discount the half yearly compound interest, the annualize EIR should be less than 4.33%.

The best short term i can think of is OCBC e-smart savers.
4%p.a, can withdraw any time, by losing interest only for that month.

tomorrow i am going Affin Bank to place my FD around 200k. Hope i can get the rate u given. Is there anything free gift i can request? Any term and condition i need to fulfill for that kinda interest rate? TQ

This post has been edited by jonathanchee315: Aug 4 2015, 01:31 AM

Yes

I didn't receive any gift
U need to open CASA for crediting of proceeds upon maturity

Affin 4.33% rate is for everyone.

Affin 4.33% 15mths FD without half yearly interest payout is the same as 4.26% 15mths FD with half yearly interest payout.
Not sure RHB 4.21% 15m step out FD still available or not, it offers quarterly interest crediting to your CASA on every roll over and that boast up the compounded interest rate to approx 4.25% to 4.26% and the bonus from RHB FD is that you have 4 withdrawals opportunities without penalty thru out the 15 months tenure.

What is the best available Foreign Currency FD in Malaysia currently? I note that some of the banks have very low interest rates.

Almost all major currencies having zero or super low interest across.