Fixed Deposit Rates In Malaysia V. No.11, Strictly for FD Discussion Only
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 Feb 17 2016, 08:43 AM
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#1
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Senior Member
1,590 posts Joined: Nov 2006  
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hi guys,
I never had any experience in FD, so dun fire me hehe this is my situation: i have a biz that requires me to use my capital only for 1 or 2 weeks per month is it a wise move for me to put the money in FD and ask for OD? your opinion is highly appreciated thanks |
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Feb 17 2016, 10:42 PM
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#2
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Senior Member
1,590 posts Joined: Nov 2006
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QUOTE(cherroy @ Feb 17 2016, 09:13 AM) Depend on cashflow situation. But FD may not a good option. Money market fund or some current account that have interest is better option, whereby you can access the money at any time (for current account), or just 2/3 business day with money market fund. OD rate is way higher than FD rate.  QUOTE(Bonescythe @ Feb 17 2016, 10:26 AM) Since your situation is capital want to use for business rolling, yet you want to have some interest while capital not employed thanks for all the adviceIf your capital is larger than 50k Then you can go to bank and open a swift acc. Daily interest crediting on your capital (i think is 2% pa, minimum 50k onward, and top up in 10k in stages) Meaning, 50k, 60k 70k 80k.. if you put 65k, it is counted as 60k x2% p.a. interest. The bank i mention is HLB. Need assistance can inform me, but i dun benefit from anything, just helping out only. Sorry for OT since not FD. Just proposing based on your needs |
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