Nope. You need to go back to town a and the same branch.

For you and me maybe no differences. For big player like unker goat & unker lim who put in 6-7 digit/FD, late 2 days payment can buy dinner for family (~rm500 I guess?).

Of course la.
Let's take unker X for eg. This is just a rough calculations of mine. Could be wrong.
Unker X is worth min rm3m. How did I arrive at this figure?
1. Unker X send his son to the US. Sending someone to the US will require at least Rm1m for tuition fees + living expenses for say 3 years.
2. Chinese family generally have 2-3 kids. For this discussion, let's assume he have 2 kids. One kid send to US. One more kid takkan in Malaysia. So another rm1m for the other kid.
3. 6 figure FD amount late for few days = one time family meal.
4. No way only one single 6 digit FD. How I know? Too much money in bank X/Y/Z (his own words - lost count how many banks already).
5. Say eg, RM500k /FD at 4.5% gives ~ only about RM62.5/day.
6. If one were to eat at hotel/fancy restaurant, one should prepare min rm50/person (I am being generous here as usually it will be higher than that - about rm100)
7. As you can see from the eg. Unker X if he didn't get 2 days of interest, he lose out.

Of course Unker X is not captain but applicable for him as well.

PS Unker X is active member of FD thread.

This post has been edited by Ramjade: Feb 15 2016, 02:10 PM

I cannot get his total net worth as he doesn't have a blog like Captain. So I do not know about his spending habits. Captain about min RM10m.

This post has been edited by Ramjade: Feb 15 2016, 02:24 PM

Everything. 2-3 RM1m in FD at 4.5% gives about ~RM250-RM375/day.

Bro. Trust me. This person is not on scholarship. When USD was increasing he complained that tuition fees are getting expensive. Would a rich man who have lots of money let his son work?

Your nettworth is about rm10m.

This post has been edited by Ramjade: Feb 16 2016, 03:05 PM

Finishing next year February.

Btw captain, regarding maybank account, you can keep rm1 inside and won't kena charge minimum charges or yearly atm card fees (like what I am doing now - I remembered I asked you via PM some years back how to avoid paying maybank free money)

The above is not applicable if one have a bsa. Bsa needs min rm20. This min rm1 can only be done if you have an existing maybank account that charges you rm8.48/year. Just go to the branch and tell them you want to change your maybank account to the free one with limited atm withdrawal/month. There's no monthly limit for online transfer.

Better take promo rates if you have min rm10k. Board rates aren't worth it for 6 months FD.

This post has been edited by Ramjade: Feb 17 2016, 07:20 AM

I think normal is full but not the Islamic one. If you are OK with an Islamic FD.

There's no FD less than one month. Most likely is money market fund.

Correction: typo.

This post has been edited by Ramjade: Feb 19 2016, 09:39 AM

Kind of true. RM1k FD don't generate much. The highest you can put is Affin bank at 3.7% for a year. After one year, you get free RM37. If you want to get 4.x%, you need RM10k for the fun stuff.

However, you can can accumulate RM10k slowly. That RM1k you put into 1-2months eFD. If every month can save RM1k (dump into 1-2 months eFD), by Nov or Dec you have RM10k + (plus interest from monthly eFD).

I use to be like this. Every month, I save into eFD to get RM10k (after few months), then hentam one shot into promo rates FD once get RM10k. Now I still do that. Save RM1k into eFD (my one month emergency cash). The balance hentam into ASW2020 instead of promo rates FD. But that's OT.

Best choice for you is eFD. Don't need to waste time and petrol to go to bank.

Best wishes. Everyone start somewhere

Again not true. Check out the FSM thread, ASNB thread.

RM80? What do you mean?

Of course. Bro, RM0.11 for me also I kira. So what more RM80. Besides my parking, petrol all cost less than RM5.00. Pay <RM5 to get extra RM80, why not. RM80 if you don't take in 5 years is = RM400 already. You're giving free money to the bank my friend.