Fixed Deposit Rates In Malaysia V. No.12, Strictly for FD Discussion Only
|
|
 Mar 5 2016, 07:09 PM
Return to original view | Post
#1
|
 
All Stars
15,856 posts Joined: Nov 2007 From: Zion   
|
if as a fresh grad who's income is still not that high yet.
is it more practical to split your FD into multiple RM1000 instead of depositing at like 3k-5k at once? Or i should put some 1k funds as every month renewal and 5k funds as annual renewal?  |
|
|
Mar 6 2016, 02:47 PM
Return to original view | Post
#2
|
|
All Stars
15,856 posts Joined: Nov 2007 From: Zion
|
QUOTE(vincabby @ Mar 5 2016, 07:34 PM) personally, i do 1k FDs whereby every month i can withdraw it out with interest although at a lower rate..more liquidity. 5k for 12 months at highest rate given.  QUOTE(Ramjade @ Mar 5 2016, 08:36 PM) Depends on you. Like me (still a student) I put one month of extra usage into efd as my emergency fund. I never exceed more than 1 month of emergency cash reserve in my efd. Once I have > 1 month emergency cash reserve, those money will go somewhere else. Just make sure to remember to add the previous month interest to the new efd every month. That way, compounding interest will be at work and end of the year, your effective rate will be >3.15% (using Ambank Islamic efd rates) QUOTE(Ancient-XinG- @ Mar 6 2016, 07:51 AM) Deposit at least 1k every month for consecutive ~ 36M. And see how much you accumulate. And withdraw it to form your first mother FD. Thanks for the replies. I currently deposit 1k into mbb efd every month and currently have a small stash in another bank for 12m. Guess my method is alright haha |
|
Topic ClosedOptions
|
| Change to: |  0.0439sec
 0.22
 7 queries
 GZIP Disabled
Time is now: 30th November 2025 - 05:41 AM |
Quote