Wow. 4.7% and 4.55% balloon up to 5.23% and 5.10% just because of a 2.8% SA!!!

4.5% compare to 5.10% and 5.23% is a very big difference!

Well one could always split 2xRM250k between wifey and oneself rather than going for 4.5%

This post has been edited by Ramjade: Oct 14 2015, 09:02 PM

They said that bsn only pay upon maturity. If that's the case, we tend to lose here.

Have the 5.10% and 5.23% calculations taken into consideration of monthly interest compounding into 2.8% of Truesavers sa (ambank fd) and half yearly interest for compounding into 2.8% of Truesavers sa (mbsb fd)?

Let's not bring ASX into the equation. The question here is maximising returns from this 2 FD if you are above 50. One can use Truesavers to maximise the interest earns. So if mbsb with 4.7% interest given half yearly and added into Truesavers compare with ambank with 4.55% interest given monthly (above 50 years old) and added into Truesavers, which one is able to give a higher returns after 5 years?

Like it. I have big cash here. You want it, you give me extra rates. Or else I bring my money elsewhere. No bargaining!

All banks entertain your threats?

This post has been edited by Ramjade: Oct 15 2015, 08:02 AM

For what? Ambank 4.55 and mbsb 4.7 is way higher than affin 3.7%. Why would one want to do that? Are you nuts to give the bank free money?
The thing here is
Mbsb 4.7% 6 monthly interest is deposited into a 2.8% SA
Ambank 4.55% monthly interest is deposited into a 2.8% SA.

We would like to see whether the monthly compounding interest by ambank 4.55% can beat the 6 monthly interest of MBSB or not at the end of 5 years. Assuming that interest credited into Truesavers will not be removed for 5 years. Who will win?

This post has been edited by Ramjade: Oct 15 2015, 09:07 AM

Sorry bro. But we are talking about small amount here say rm10k. With that kind of amount, one cannot put FD. Can only put sa. Me poor fag. Can only give example of rm10k only.

This post has been edited by Ramjade: Oct 15 2015, 09:20 AM

cause if say the amount is small (min rm10k), no way one can put the interest into efd. Efd requires min rm1k.

I am not sure how to calculate.

This post has been edited by Ramjade: Oct 15 2015, 09:59 AM

Must drill into people’s mind not to give free lunch to bank ma. If lesser people give free lunch to bank, those banks who get free lunch all this while have to work harder for our money.

Need to continue writing. If put signature, no one will read. Then banks will continue to have free lunch and we get not so good rates.

All banks have target. Target not good, need to find more customers.

This post has been edited by Ramjade: Oct 15 2015, 01:35 PM

Nope. If suddenly cimb come out with 3% sa with uncomplicated t&c, I will tell you guys to open it instead.

Correct your sentence to

Not really. If more people give free lunch, for what the bank want to give you? Better the bank keep for themselves. They will give you just enough.

Now if no one's giving the bank free lunch, banks become hungry. So they give us better rates so we place with them. Remember, no money how to operate? So no money no talk.

Say a bank's target is rm100k. If they already achieved rm100k, for what they want to be generous and give you better rates? Better the bank keep the excess and give to its shareholders.

Now, if bank haven't reach rm100k yet cause no one want to give them money, by giving better rates, more people will give them money.

This post has been edited by Ramjade: Oct 15 2015, 02:36 PM

Ah SiAnG never in my mind to spam. Just telling people how to maximise returns given from monthly interest. People ask, I answered. By the way, can you add an additional information on front page?

If other people got info, please share. I know there are others but I can't remember which bank and their rates. Don't have account with them.


This post has been edited by Ramjade: Oct 15 2015, 07:27 PM

Even for normal customer or for vip customer?

Ladies and gentlemen, boys and girls

MBSB 4.7% + TS 2.8% vs AMB 4.55% +TS 2.8%
Minimum amount here = RM10k



AMB = AMbank
TS 2.8 = Truesavers
EIR = Effective Interest rates

From here we can see that even with monthly interest, Ambank 4.55% still lose out to MBSB 4.7%. MBSB is still the champ here. However notice that the EIR of MBSB only increase 0.30943% while AMB increases by 0.32766% which shows that you could get more money if there is say a FD able to give you 4.7% monthly interest. .

yygo is right. If we put 1 year FD with the interest, the EIR can go up further. But that can only be done from 2nd year onwards (Starting amount of RM10k). Unless one starts off with RM100,000.

I didn't include in the last month interest of TS of the 5th year as I assume the FD will pay the interest at the end of the month. So if we would like to see the last month interest, we need to go another year. I used 2016 as it is easier to count.

By the way, aeiou228 how come your EIR is 5.23% Vs 5.10 while mine is only 5.00943% vs 4.87766%? Your method is add to principal to get the EIR of 5.23% Vs 5.10%?

This is the first time I am calculating this kind of things. Any mistakes please correct me.

This post has been edited by Ramjade: Oct 16 2015, 01:33 AM

Actually one can squeeze some more. As yygo said, instead of putting in TS, one can put affin bank 3.7% FD once one have rm1000. again we are talking about principal of rm10000. If one starts off with rm100k, different story.

It's not my money la. Me poor fag. I just used example of rm10k cause that's the minimum one can put to enjoy the fun.

I think vip customer no problem. Non vip customer might not be able to enjoy that privilege (into another bank's account) but if put into same bank account, no problem. Just tell the bank worker credit principal + interest into sa upon maturity when placing of FD

You can actually do it manually. Go to bank and uplift and then transfer over the counter

Just right click on the picture and click open image in new tab. I am outside right now.

You are forgetting large amount too.

For those who want to download my excel file, you can do so here.

http://www.solidfiles.com/d/d0e750317c/.

Click direct download and nothing else.