Dear sifu-sifu,

My uncle was boasting about this where his company sometimes allocate 1.5M - 3M to a very VERY short term kind of FD , like one day to three days ONLY from UOB Bank that earns him 5% interest rates. Which, he said it's better than putting those money in savings account.

May I know what kind of funds/FD is that from UOB?

Dear sifu-sifu,

My uncle was boasting about this where his company sometimes allocate 1.5M - 3M to a very VERY short term kind of FD , like one day to three days ONLY from UOB Bank that earns him 5% interest rates. Which, he said it's better than putting those money in savings account.

May I know what kind of funds/FD is that from UOB?

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

even >1 mil fd oso cannot get 5% interest in uob. 

short term fund getting high interest likely to be repo or money market funds. but 5% from uob??

To which account the GIA e-FD interest will be paid to monthly? The saving account or the FD account itself?

Means we transfer a sum from the savings to GIA e-FD & no need walk in to the bank to personally do it?

Thanks

No way money market fund or repo can earn more 5% at current financial condition.
3.x% may be, but not 5%.

If there is, everyone in FD will flock to there already.

Does being a listed company makes a difference?

Hi, I just made a one month E Islamic FD placement at Maybank2u.com. In the receipt it's stated:
Principal RM10000
Term: 1 month
Profit rate 3.25%
Profit earned RM25.75
Selling price RM10025.75

Anyone knows how the interest is calculated?

3.25% / 366 x 29 days x RM10,000

For the placement of GIA e-FD, you can do it online. The monthly interest can be credited into your saving account or you can choose to roll over the interest in the FD account.

choose a) Mudarabah Investment or b) Islamic Deposit Account?

there is GIA-i from the Product Type dropdown menu.

For the MBB GIA Ac is it the 4% interest is not guarantee? Sorry first time see this.

nope. might be less, might be more. read what's GIA here

if you dont have confidence in GIA or MBB itself, then go for conventional FD/eFD.

The PB eFD campaign, beginning from Jan 12 to Mar 13, 2016 offers higher promotional interest rates of up to 3.60% per annum for tenure three months and above.

theSundaily https://shar.es/14FtVI

8 months 4.38 vs 2 months 3.95. Which one is bettet

if you need to use the money after 2 months, take 3.95, if you can wait 8 months, take 4.38