You will be surprised how many people never read page 1

You can always Park your money in Maybank q-cash first while waiting for promo

3.7x% the last time I read Gen-x's blog (almost a year ago). It could change now.

Don't know. But Gen-x put for about 1 week. Anyway, I just read it in the passing as it requires min rm50k. No rm50k, no talk. if the min amount is say ~rm2k, sure

If I have rm50k to throw around, I will definitely put it somewhere other than maybank q-cash.

Yup. You are right. I got myself mixed up with the returns of rhb Asian returns by FSM.

Ignore it.

Well you can always get the luggage, then sell it online. Extra % obtained. some more bag is FOC. So instant 100% profit.

Well in case you didn't know, these people are not your average people. Their FDs account to a min of 6 digits. So when you have so much money, everything small is money. As bbgoat puts it, 3 days of interest can buy a dinner for his family. So you can imagine the amount of 3 days interest. Maybe about rm500?

Their FD amount is large until they can nego for higher rates. You get my point how large is large.

Worse case scenario is you put rm10k, you get back rm0. But it wouldn't happen or else maybank is going to have lots of angry customers. It could happen as neither principal nor returns are guaranteed but very very unlikely.

Worse come to worse is you might not get the stated returns (get lesser)

This post has been edited by Ramjade: Jan 9 2016, 08:56 PM

If got money box, FD can be placed online via Mach.

What he meant is without Mach, your only option is placement at normal Hong Leong bank which requires rm10k fresh fund over the counter.
If you have moneybox with Mach, you can place online which doesn't require rm10k fresh fund. No need to visit the bank. Online placement.

Jeez. It's basic stuff. Everyone knows that. What are you expecting? 4.x%/month? Like that banks will give you >16% p.a How are they going to survive, make profit from you if they give so high interest?

When I was his age (18 years old) I know that one will not get 3.x returns in a month for FD and I had no one to tell me that (I do not know how to calculate effective interest back then). Some more common sense will tell you getting 4.x%/month? Like that banks sure bankrupt already. Sometimes you need to be frank. Anyway, better stop here before being OT.

If the FD does not need you to open account, just withdraw your money from PBB in the form of banker's cheque with the payment details your full name and IC no. Bring that banker's cheque to UOB. The simplest way of them all.

Depends. Some charge RM5+, some Rm2+, some rm0.68 Best check with banks. The cheapest way is open a bsa account with the bank you want to put FD(that way you don't need to pay Rm8+/year for bank fees., then IBG, IBFT over the money.

Please by all means do your FD within the same day. That way, you money won't be doing nothing for 1 day. It will forever be generating interest.

Downside is some banks don't count that as fresh funds and the amount you can transfer is limited by the amount one can IBG/IBFT out. Check out the IBG/IBFT thread for limit set by banks.

Really depends on people. Some say best to keep 6 months - 12 months worth of salary as FD. Some dump in every month for 1 year, so that they have FD maturing every month (in the event they need cash suddenly, their total FD will not be affected.

For me personally, I keep 1 month usage money in Ambank truesavers (earning 2.8% p.a) and 1 month usage money in Ambank Islamic efd earning 3.15% p.a which I will manually uplift upon maturity (because I used less than rm5k a month, I cannot put with other bank eFD which needs min rm5k). Uplift, add in new amount (including interest to boost the effective rates to be >3.15%)

If you don't mind waiting ~4 days for your money, can try money market fund. Interest is definitely higher than 1 month eFD rates. Check out FSM thread. The con is about 4 waiting days to get your money.

Hope it helps.

This post has been edited by Ramjade: Jan 14 2016, 03:44 PM

Usually uob banks do not need account. But just bring rm20 just in case to open a bsa if they asked for it.

As long as use banker's cheque, your FD should start on the day itself. No need to wait like normal cheque.

Don't tell me normal cheques does not need clearing.

Eg. Mr A writes a cheque to Mr B. Mr B cannot deposit the cheque over the counter. He needs to cash in the cheque via cheque machine. Money will appear few days later in Mr B's account.

The above is not right? If is not right, please by all means shout at me. I am willing to learn.

This post has been edited by Ramjade: Jan 14 2016, 07:53 PM

Is not changing topic. Is I really don't know. Cause people tell me cheques need few days to clear. But banker's cheque is instant. I thought banks treat personal cheque (like the type you write and sign/some print) different from banker's cheque? Personal cheque should be more stringent compare to banker's cheque. No?

My question on the scenario is still not answered. So I am right or wrong in the above scenario?

I have never received a cheque before nor have I wrote a cheque before.

And yygo Since you know so much, teach me la. I really don't know this cheque stuff or you just NATO?

This post has been edited by Ramjade: Jan 14 2016, 08:07 PM

Banker's cheque > FD > instant
Personal cheque (cheque from company) > FD > instant?

Is not exactly OT. Maybe I should make it clearer. Cause eg Mr A is boss of company and Mr B is the worker who receives rm10k salary in cheque from company and wish to put promo rates FD. Mr B brings cheque from company to bank and place FD. The question now is will the FD be done on the day itself (instant) or Mr B needs to wait a few days for cheque to clear?

Hope is clear now my question.

This post has been edited by Ramjade: Jan 14 2016, 08:15 PM