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Fixed Deposit Rates In Malaysia V. No.11, Strictly for FD Discussion Only
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CyberKewl
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 Jan 3 2016, 11:38 AM
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I'm planning to put FD in HLB's 4.5% promo - understand that it needs a Mach FD account - I have a few questions for those who have opened the account before and are transacting on it:
1) How much does it cost to open a Mach FD account?
2) From what I understand, I can transfer funds from external banks (say Maybank) to this account and use those funds as part of the Mach FD, is that correct?
3) After 6 months, can I just withdraw all the money back to the savings account (together with the interest) and leave the mach FD account dormant (or must there be a minimum balance of sorts)?
Appreciate your response and advise guys. Thanks!
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CyberKewl
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Jan 3 2016, 12:47 PM
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QUOTE(kit2 @ Jan 3 2016, 11:58 AM) 1. completely free if you don't get any atm or debit card. 2. yes, from now. 3. fd account you can don't care, but if you leave savings dormant, they will charge you fees and even close your account  Awesome! thanks for the info  |
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CyberKewl
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Jan 5 2016, 09:29 PM
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QUOTE(gchowyh @ Jan 5 2016, 11:25 AM) I would prefer Maybank's 4.17% effective interest rate FD for 6 months promo as it also rollsover the principal + interest on a monthly basis which makes it PIDM protected. do you have the link to this promo for maybank? I can't seem to find it  |
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CyberKewl
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Jan 9 2016, 08:50 PM
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quick question about GIA - it says :
THE RETURNS ON THIS INVESTMENT ACCOUNT WILL BE AFFECTED BY THE PERFORMANCE
OF THE UNDERLYING ASSETS. THE PRINCIPAL AND RETURNS ARE NOT GUARANTEED AND
CUSTOMER RISKS EARNING NO RETURNS AT ALL
Does this mean the worst case scenario that can happen is that I dont make money OR is there a possibility that I will lose money (i.e: say I put in 10k but I only get back 9k) - can this happen? or will the worst be put in 10k, just get back 10k (mean earn nothing)?
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CyberKewl
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Jan 9 2016, 11:41 PM
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QUOTE(Ramjade @ Jan 9 2016, 08:56 PM) 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) ic ic..noted on that. thx |
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