Thanks Bro for the update.

I just called my Maybank's RM and yes, they are offering 6+6 months at 4.04% and 4.3% respectively.

And just in case anyone was wondering, minimum deposit for Maybank FD Promo is either RM20K or RM25K.

Maybank also have 3 Months FD Promo BUT bundled with Unit Trust, and since I not interested, I can't remember the interest rate.

Most banks if you close a CASA account within 90 days, a fee will be imposed.

As for HSBC Advance and Premier accounts, if one does not maintain the minimum AUD, one would be penalized.

Moreover, HSBC FD/TD Promos are only applicable to NEW Advance or Premier customers and you won't be able to enjoy future TD promotions, And if you refer to Post#1, you will notice that HSBC has one of the worst board rates for FD/TC. As such. if one has like less than RM50K for the Advance 3 months promo, one should really consider if it is worthwhile to go waste couple hours to open an account and then couple hours to close the Advance account after the promo tenure. Also add petrol and parking if applicable.

To all, I just updated Post#1. Still not many reporting new FD Promos for July 2015. Most banks are offering bundled FD promos with UT which I will not highlight in Post#1.

But those who bought Gold 5 years ago and sold at the peak made lots of money too

Stock market, UT, Forex and other speculative investments - buy low sell high. Or for the braver ones, short selling also can make money

FDs are for people who need the money to survive and not willing to take risk OR for those who have made their money on speculative investments and have enough of the thrills that comes with it, hahaha.

This post has been edited by Gen-X: Jul 6 2015, 06:12 PM

Bro, not only must deposit minimum RM40K, but you got to SMS to register and then fill in an online form. The pen will be delivered at a later date to the branch.

Bro, once again don't speak on my behalf

Investing in the right stock at the right time AND selling it at the right time can make you a lots of money.

I will accumulate more stocks if the price is within my target And if I don't sell my existing shares now and we face a recession, I'll loose lot of money

This post has been edited by Gen-X: Jul 6 2015, 07:00 PM

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This post has been edited by Gen-X: Jul 6 2015, 10:32 PM

Bro, I thought you been following my blog where I said after I retired IRB paid me (from my shares' dividends which were imposed 25% or 26% tax) enough to get my wife Channel and LV handbags. But starting last year... no more rebate/income from IRB

hahaha. I did not say I'm worried but said I will loose money if recession comes (compared to if I don't sell them now) ... but then again, opportunity to buy at cheap prices during recession. Actually, if one buy the right shares during recession, the yearly dividend may work out better than FD.

Actually, I sold some shares two weeks back, bought them at RM1 many moons ago and paying about 10% dividend for years but it shot up to above RM6 recently, had to lock in profit. Today, price below RM6.

FD money reserved to pay children's tuition fee which may not be enough in few years time.... if I don't sell my shares where got cash go waste money on watches and jewellery

This post has been edited by Gen-X: Jul 6 2015, 10:30 PM

Please read Post#1, it specifically states:

Notice / Disclaimer:-
Call & Visit the respective banks for confirmation & latest promotion.

Very seldom does Maybank, Alliance Bank, UOB and RHB advertised their FD/TD promos at their website unlike HLB, OCBC, PBB and AmBank.

And Maybank FD Promos must be done over the counter.

This post has been edited by Gen-X: Jul 6 2015, 11:29 PM

More like combination - the money allocated and parked in FD is essential for my children's education right at this moment and as such cannot tolerate any risk.

Click here to see my latest spending of my children's future inheritance, hahaha.

For Step Up, to determine the actual Effective Interest Rate, one must always read the terms and conditions - interest credited into CASA or compounded.

For the Maybank Step Up, if not mistaken, the interest earned from the first 6 month is added to the Principal for the next 6 months (by right when calculating interest, must use days but for easy sample, I'll use months):

1st 6 months - RM100,000 x 4.04% x 6months/12months = RM2020

2nd 6 months - RM102,020 x 4.3% x 6months/12months = RM2193.43

Total interest = RM4,213

So effective interest rate = 4.213%

Most banks will deceive you by advertising higher interest rate for the last step up and prior to that, interest earned are deposited into CASA (which earns miserable interest rates) instead of adding to principal to earn more interest for subsequent months - best example Public Bank. Most people here (and the lazy people at the banks too) will calculate Effective Interest by taking average for quick calculation.

This post has been edited by Gen-X: Jul 7 2015, 09:18 AM

hahaha, good that you pointed it out and corrected me Anyway, my post above was a sample to educate the newbie.

This post has been edited by Gen-X: Jul 7 2015, 09:28 AM

Bro, what's the use of having Gold Deposit products if you can't withdraw from it (physical or cash)? Just saw news headlines - Greece Banks closed until Thursday.

Same thing, bank close put in safe deposit box for what? Like I mentioned earlier - need to bury somewhere..... and myabe do a treasure map attached to will, hahaha.

Maybank - Kijang Coin.

UOB - Maple Leaf and Swiss Pamp - trade-able anywhere on earth.

RHB - 1kg bar, got no idea locally made or what.

Tomie, Poh Kong, Habib and Wah Chan - paying a lot on top of spot rate.

This post has been edited by Gen-X: Jul 7 2015, 04:18 PM

Bro, did you read last few pages where we did calculations where PIDM funds only enough to cover 4800 accounts!!!

You guys really lah, AmBank and Affin, the money deposited into it and not like BR where money went out in carpetman's case.

What you mentioned above is very true.

And now that aeiou228 have shared with us how much PIDM actually have, well, it really makes no difference if we deposit our money with a bank where our money is insured by PIDM Best we now deposit with only UOB and OCBC where both are so called among the strongest banks in the world. Then again, is the ranking also applicable for UOB and OCBC incorporated locally?

To all: For those of you who do not have the time to go chase after FD Promos or overseas often and willing to sign up as a UOB PB customer, click here and read my article A Little Bit Of This and A Little Bit Of That - Volume 1, Chapter IX where I will teach you how you can enjoy higher interest rates than board rates without stepping into the bank.

This post has been edited by Gen-X: Jul 8 2015, 02:43 PM

Bro, MAple Leaf and Swiss Pamp also seldom have stock at most UOB branches. Best place is HQ, call them and ask before going. And you'll need a UOB CASA as you can't use cash to buy the physical gold. If you got PB status, FREE parking

To ALL:

Just to let you guys know, I'll be away and as such no updates to Post#1 until next month.

And before I go - kmarc and AVFAN, USD going up but the good news is AUD down and almost near to last January lows and 5 year low. Better start monitoring AUD.... my target 2.5

This post has been edited by Gen-X: Jul 9 2015, 06:23 PM

Bro, your confidence level now lower than in 1998? Based on current situation right here (not China where it's really bad), I think 1998 worst off where everyone got no cashflow. I am waiting to see how things turn out come this October...

And I doubt our interest rates will go up or down much unlike 1998 because we don't have DSAI as our FM today, haha. The way I see it, if things do go very bad, once USD/MYR hit above 4 and goes back down to 3.8, our government will revert back to pegging it at 3.8. Seriously, right now USD/MYR 3.8XXX not much diff from previous peg of 3.8.

Back to FD, not many straight forward FD promos nowadays, I guess have to wait till last quarter of the year to see more FD promos (banks window dressing). For my case, I'm now only interested in short term, i.e. 3 months.

This post has been edited by Gen-X: Aug 6 2015, 12:50 PM

Now as for the FD need CASA requirement - when we deposit our FD, we are asked - 1) Add on interest to Principal and rollover or 2) Credit interest to CASA. So, how how the money always with the bank upon maturity unless we go withdraw it.


Below all OT:

I will answer the second part first. My children money from their years of Ang Pows is THEIR money even though they are deposited in the banks (mostly FDs) under joint accounts with my wife and myself. Once my children turn 18, I will open new account where their name is first and transfer the money into this new account. What they do with their money is no longer my concern.

As for spending our future children inheritance, like I said in my articles, might as while spend our money on our wife(s) and ourselves instead of our children spending it on their spouses or other people wifes (girlfriends) and on material stuff. I guess we don't want to try and dig ourselves out of our grave when our son go spend our money on handbags on other people wifes, hahaha. But I am sure I no need to tell you guys as you guys know how to go burn your money on relaxing activities, hahaha.

Having said the above, in my latest article titled Black Rolex Yacht Master Versus BMW 118i , because I love my son so much and worry for his safety, I am willing to sacrifice my wants for his needs. Which most dads will do. And at the end of the article, conclusion the same as always, we can't take our money to the grave. Better go buy the luxury goods you want before new stock comes in or else you end up paying much much more in the coming near future.

Bro, I have touched on investing in Melbourne apartments several times at my blog (scroll down to the subtopic of interest):

Melbourne Victoria Australia - back in 2012.

More A Little Bit Of This and A Little Bit OF That - Volume I, Chapter III - back in 2014. In this article I also mentioned about De-Facto factor and why you should not buy the property under your children name (more so if he is a playboy, hahaha). Also, if they inherit the property, they got to pay stamp duty to complete the transfer which can be a lot!!!

Investing in Australia - first you need to ask what is the purpose. You are exposed to the same risk when investing in property anywhere. Landed property always better for long term. And unlike Malaysia, you will 100% be taxed if you make a profit when you sell it.

Australia property market was booming like nobody business ( just like here before 1997) until 2008 -2009. If you had bought a off the plan (new) apartment in 2008 and wanted to sell upon completion in 2010 to 2012, most probably you would have lost money. The property market remain stagnant until late 2013 when it started to pick up (interest rate went down to record level and is still low) and since then we have saw double digit growth annually in prices (for landed property) in all major cities. For apartments - only 1 digit % growth. I can tell you in Melbourne, one can even get a newly completed apartment for less than what the buyer paid to the developer! This is because there are currently freaking too many apartments AND they can only be sold to the locals, as such the market for second hand apartment is very small compared to off the plan (new) which are targeted at foreigners (China).

If you google - Australia Property Prices (and then versus New York) - you will note key words "bubble", "one of the most expensive on earth", property prices up in Sydney and Melbourne but down in Perth and Darwin, etc.

Have you met anyone who bought apartments in Australia in the last 3 years telling you that they are making money from their investment in Apartment(s) in Australia? Holding cost of apartment is high - you got to pay this and that and if you take loan to purchase an apartment, 99% you won't be making any money even though you were promised 5% yield.

Now if you buy a new landed property and it is not rented out, are you going to fly there periodically to cut the grass?

My advise to you is go to the many so called Australia Home "EXPO" and get a feel of prices, not sure in Penang, but in Klang Vallley, every weekend they are many agents selling properties overseas (London, Australia, now even Canada). Most recent Gamuda and UEM selling apartments in Melbourne. There are a few Malaysia developers in Melbourne - MRCB, Setia and even Far East group. And before you buy, fly there and check the place out, ticket very cheap. less than RM1K also can get during AA sale.

Having said the above, if you think your grand children will be gong to Australia for their education, sure go buy an apartment in the city most likely where they will go else I think Penang Island Semi-D better bet to make you money (much more if your children and/or grandchildren inherit it) and life simple Of course we know you got lots of money and got holding power, so one benefit of investing overseas is you then have a good reason to go holiday and check out your overseas investments periodically (and if got a landed property, go cut grass, hahahaha).

This post has been edited by Gen-X: Aug 8 2015, 12:00 PM

No lah Bro,

1. Work
2. Children Education
3. If got Balance - Baccarat or Louis XIII or China Dolls

If one got money, I tell you, life here is heaven and sure won't want to be in Australia contributing taxes to pay for their welfare system. If no money and young, yeah go work overseas and will earn more with less working hours

Updated Post#1. Not many new straight forward FD Promo except those reported by magika and cybpsych.

That's why I never promote FD that is bundled with UT, If one loose money, will curse me like hell, hahaha.

Better go burn your Ringgit fast before you get less for the same Ringgit now, e.g. Cordon Bleu and Rolex (with the weak Ringgit, best place to buy a Rolex now is Malaysia).

Bro, you bought your son ticket to US? If you following him - check out my article Visa Buy 1 Ticket and get the Second Ticket 50% Off for Malaysia Airlines, China Airlines, British Airways and Singapore Airlines. And if you are following your son to his Uni and then want to visit other US destination, go to United Airlines website and choose Multi-City option and you may save some money on US domestic flights. Example, You flying with him to LA and then to the city where his Uni is and then you want to go to Vegas and San Francisco before flying back to KL. Click here to learn more about United Airlines Multi-City where I gave step by step instructions. And another tip - go google for United Airlines Malaysia, they use to have an office in KL where I bought the Multi City ticket 6 years ago when my son went to US and maybe can be cheaper since paying in RM.

This post has been edited by Gen-X: Aug 15 2015, 12:25 PM

RHB FD Promotions until 31 October 2015. Minimum Fresh Fund RM10K.

3 Months - 3.85%
6 Months - 3.95%
9 Months - 4.10%



*

I went to ATM to withdraw money and saw the brochure and there was no one to ask, hahaha.

If you mean need to deposit X amount into CASA, I don't think so.

But, they may credit the interest into CASA. Go to your nearest RHB branch to find out.