Mar 10 2016, 09:30 AM
QUOTE(terence_say @ Mar 8 2016, 11:10 PM)
Thinking of cash out about 100k and I earn 100k miles
Put that 100k into 3% FD for the first month
90k 3% at the second month, 10k go to monthly repayment
80k 3% at the third month .....etc
The interest pretty much cover back my 1.90% charges
Try this:Put that 100k into 3% FD for the first month
90k 3% at the second month, 10k go to monthly repayment
80k 3% at the third month .....etc
The interest pretty much cover back my 1.90% charges
RM100k split into 2x RM50k.
1st RM50k put into FD 6 months promotion (Maybank 4.28%) and after that roll under 1 month eGIA-i by Maybank (indicative profit rate 4.00%)
2nd RM50k roll under 1 month eGIA-i by Maybank (indicative profit rate 4.00%)
FD info can be found here:
https://forum.lowyat.net/topic/3873512
Calculation:
1) Assuming 15th March till 15th Sept 2016 (6mth) - 184 days earns you approximately RM1,078
2) rolling every month with 10k decrease for 1st 50K and 2nd 50K - approximately RM1,003
Total RM2,081 interest earned under such projection and able to offset 1.90% fee charged upfront and free miles. Which bank giving such offer eh? Good deal. Edited: Just saw it's UOB.
This post has been edited by CalvinCLK: Mar 10 2016, 09:31 AM
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