I did know about the IRB claim back of the dividends for you. But I thought you may have exited from the so called "non FD" markets.

So still have loads of eggs there ?

So you belong to the second part of the below statement (your yesterday's posts) ??
Quote:
"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."


You really want to use up all the children's inheritance ?

This reminds me of your blog of counting coins at night.

But I guess this may not apply to you as gold mine is stacked somewhere between KL and Melbourne.

This post has been edited by bbgoat: Jul 7 2015, 08:23 AM

for those who needs a picture of the ad.

This post has been edited by adele123: Jul 7 2015, 09:04 AM

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

might want to correct the calculation a bit. the interest from the first 6 months is NOT added to the principal, based on what is advertised

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

2nd 6 months - RM100,000 x 4.3% x 6months/12months = RM2150

Total interest = RM4170

So effective interest rate = 4.17%, as advertised.

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

For MBB step up, have not seen one which add up the interest to next round. The only one that I know of is OCBC 360 days FD which add up the first 180 days interest to the next round. As such the first180 days interest cannot be withdrawn unlike step-up's of RHB, PBB. Not too sure of MBB as have limited experience with their step-up FD (only short 3 months step-up placed before)

This post has been edited by bbgoat: Jul 7 2015, 10:48 AM

Thanks for sharing this

Thanks for sharing this

Oh, all the luxury watches, one of the 50 ever produced !

So when you go to the banks, wearing like "VCD sellers" also wearing all these watches ??

hi, so currently which banks offer better rate? OCBC (4.2% pa)? RHB? (4.21% pa)?
MBB (4.17%), im looking for promo FD. If normal FD rate definitely is Affin Bank? (3.7% pa)? Im confused with CMGIA-i Promos? 6-month Commodity Murabahah General Investment Account-i? Is it same as normal FD? Only different in term? Islamic vs Con?

You can check and see whether affin still have 4.33% for 15 months or not

as shared by adele123 earlier



FD Amazing 6+6 Campaign [ Maybank | T&Cs ]

Enjoy amazing rates with a minimum fresh deposit of RM25,000 for Individual customers or RM50,000 for SME/Business Banking customers in a single certificate on our 6+6 months Fixed Deposit.

Offer is open to Maybank customers and is applicable for Conventional Fixed Deposit placement of fresh funds made over the counter only at any Maybank branch in Malaysia. The campaign is valid from now till 24th July 2015 or upon reaching the overall limit, whichever is earlier

sure. but if OCBC and RHB,both also okay? if looking for 12 mths*

sure. but if OCBC and RHB,both also okay? if looking for 12 mths*

Why not put in RHB 4.21% for 12 months while it is still available until the end of this month...???
Interest will pay based on 3 monthly basis; after that, the last 3 months will pay on monthly basis.
I just received my first 3 months interest in my saving account..



Another option is Affin 4.33% for 15 months, no monthly interest.
It was still available when I was in Affin Bank last Friday...


This post has been edited by BoomChaCha: Jul 7 2015, 12:52 PM

Still have. Valid until end of this year.

Comparing RHB 4.21% 12mths with interest paid every rollover and Affin 4.33% 15 mths with interest paid at the end of the term, I think you are right, RHB's 4.21% is actually better than Affin's 4.33%.
Btw, I agak agak only, lazy to calculate the actual yield for RHB

This post has been edited by aeiou228: Jul 7 2015, 01:08 PM

Sure why not. Me, personally, I go for the best rates.

Any ideal public bank still offering paper gold deposit account ?

This picture really sent shivers down my spine.

http://www.abc.net.au/news/2015-07-04/cryi...e-photo/6594984

U mean Gold passbook?

Perhaps you may put OCBC 4.2% p.a. for their Islamic FD.. No stupid CASA or saving plan..

You will get Hugo Boss Roller Ball Pen (I think worth USD100)... lol! Please sms register before go..

Enclose some links for your study.. Just now when I put my FD for this offer, the girl seem does not know in detail.. Need to show her these then she only know...

http://www.ocbc.com.my/personal-banking/Ac...mart/index.html

http://www.ocbc.com.my/assets/pdf/Accounts...o_savesmart.pdf