Surprised with BR's move of 4.38% for 1 year, min 5k. Current BR promo till 30/6 is 12 mth 4.3% min 25k.

What lucky day are you people talking about? Don't be superstitious. I only mentioned bad day to avoid in the Big Boss scenario. Any day from 1st to 28th of the month is a good day subject to the usual rules, the period/s involved and what is needed - look at the calendar. Fail to plan or schedule properly means any cincai result also can happen. See the next installment of the Big Boss story. Don't worry if you do not understand or up to it, if don't know what you lose, you won't be unhappy or regret not making things more 88 for your pocket. Anyway, your losses won't be on the scale of Big Boss, at 500 x less at 10 k per placement. But if you are in the same league as Big Boss, you need some proper help.

Nothing to surprise about. Been taking out maturing FDs and monthly interests from BR and sweep to Affin Bank. Keep asking for any special extra nego rate to be competitive with Affin 4.5%. No deal, so cabut. After all, banks treat money like commodity for trading (sound Islamic huh ) and subject to supply and demand and perceptions of customers. It is up to individual bank cashflow projections. The 4.38% with the advantage of monthly interest payment is what they feel they can do to fight funds flight. 4.4% would be nicer but maybe sound too unlucky? OPR is not really in the picture

bro must be uhnwi! or financial consultant. must be like bro or big boss to understand.

not superstitious. lucky day mean what you stated good days for placement. still no clear answer.

Nothing to surprise about. Been taking out maturing FDs and monthly interests from BR and sweep to Affin Bank. Keep asking for any special extra nego rate to be competitive with Affin 4.5%. No deal, so cabut. After all, banks treat money like commodity for trading (sound Islamic huh ) and subject to supply and demand and perceptions of customers. It is up to individual bank cashflow projections. The 4.38% with the advantage of monthly interest payment is what they feel they can do to fight funds flight. 4.4% would be nicer but maybe sound too unlucky? OPR is not really in the picture

connection problem??

bro sound like someone who has been here before. sounds big like uhnwi.

if affin 4.5% habis then br 4.38% big deal.

This post has been edited by sandkoh: Jun 30 2016, 01:35 PM

Called, they r not selected branch

As long as you withdraw the money on the maturity date, the effective interest rate will be the same as the interest is paid based on the number of days keep in FD.
I do not understand why all these different date matter

He just lo suo way of saying that if your maturity date fall on public holiday or weekend you can get 'extra' interest when you withdraw on exactly the next working day (hence Monday). Some banks at promo rate, some at board rate, some don't give (AFAIK).

Of course, if you're 'holding' your money for a few days to wait for that special day you also lose money on interest for those days, so go count if its worth la.

The 5 people in the story all ended up with different real interests collected or forgone in lost days because the actual number of days were different. The story is just to illustrate the following operating rules about efficient FD placement:-
1) RULE 1:-Avoid last week of any month to place FD. Becuz when it matures you will a dubious chance of getting the replacement promo then. There is a bigger chance of already reaching quota at end of month. This is not a good day, but a bad days rule of thumb for FD placement operations.
2) RULE 2: Use a calendar to make sure you get more days and interest Make sure you understand when your maturity date will be when you schedule your FD placements. In the story, the difference in interest collected was big when compared to Kiasu who knew how to use a calendar and this rule.
3) RULE 3: Be careful to give extra allowance for things going wrong/offline, too busy or staff problem. Try to avoid last day of promo crush

It is a pitiful to have the best deal/bargain, but to get less for no good reason just because never learn and use good practices.

It's worth the effort if your placement is gigantic.....

why so particular on when to place fd? when have to money, then avoid to put on certain day? then lose interest. fast fast put in. then mature time get interest. should be alright.

crack the head to think today can put or not while you have the $$, waste of time and interest. if no money no headache lo.

important point is when $$ available. not say avoid this date, this day.

rm589.04 based on 365 day is based on 5mil fd. how many will have this issue?

This post has been edited by sandkoh: Jun 30 2016, 05:51 PM

The story illustrates the question of good days since people did not understand that the main idea was to avoid bad days at the end of the month. This is becuz somebody got the wrong idea that I was talking about specific good days, wanted to know why I am not answering clearly whether there was such a thing as a good day. The answer is:- Depends on which date, how long, when the step rates change following your effective date and the maturity date. Is it relevant? Yes and No, depending on how efficient holding funds are handled. Most times the required principal will take some time to be collected into some temporary holding place like Maybank GIA-i or in very short term instruments, so the loss is minimised. This is what is considered sweep and scrape. Not withdraw the money and keep in a bag to carry to the bank on an extra good day.

The story is useful only for kiasu people and high net worth individuals. However, if funds just happen to be available then, it is up to the individual to calculate whether it makes sense to wait. For most depositors, their promo amounts will be at least 10k or about 500 time less than in the story and so the amount is small and not worth bothering about. The question of losing money while waiting is simply becuz the money is not properly kept in a higher yielding place or there are no fresh income flow.

Think of the future and how many promos you will miss out if you do not adjust your maturity dates to earlier in the month. Don't think short term, don't think about reacting to now. Be pro active and put your house in order.
Start with making sure your new placements are scheduled earlier in the month. Do not wait, any date before last week of the month is okay and good.

confirm it's not me

If I have 10k 7 days from the end of any month, I will usually forgo extra interest from placing it in a FD. Suppose the FD is 4.5%, I forgo 7 / 365 x 4.5 /100 x 10,000 = 8.63. If I sweep this 10,000 into Maybank GIA-i for 7 days at 4%, I forgo 7 / 365 x 0.5 /100 x 10,000 = 0.96 only. (or other high rate savings account previously).
On the 1st of the month (if not holiday), I place it in that FD if it is still running. Why?

I used to be like you, and did not forgo. Some of my FD were stuck until 7 days from the end of the month, I found I had to miss out on hot high rate FD that reach quota before end of month, so I am only left with the less attractive lower rate FD at that time. So what was the use of bargain hunting for best FD deal when no available money then to place? So to avoid losing out big and regretting, I was more than willing to forgo a little amount to enable me to place in whatever best deal was available later in the future.

When my FD matures on the 1st or any other date to 23rd or 24th, I do not have missed opportunities any more. Becuz of not having never ending fresh funds I changed to this placement policy. Income earners may never feel the problem, so cannot appreciate the problems or solutions faced by those with no fresh income but depend on FD interest. This way, I could play the musical chairs and fresh funds requirement faster and earn much more due to the higher recycling rate and superior choice of FD rates made possible.

Of course, if you are frighten and believe that the FD rate is going down, then you want to place as soon as possible at any time.

On the other hand if you figure out how FD rates happen, you will be more confident.

Somebody commented about the 5 million maximum condition at Hong Leong, so I just use that Big Boss and his friends story since some people find what I wrote too deep to understand. Have to change style for different audience. Actually very simple, but people keep having old stories, assumptions and mixed up between what I write and other people comment off mark. Anyway the story is for those who are in the gigantic league or really hotly getting there.

bro really kiasu type. i make life simple, got money, put fd asap at best available date. may miss few days just for combine $$. thats it.

simple life bagi simple orang.

quote from above, Anyway the story is for those who are in the gigantic league or really hotly getting there.

meaning for those like you with 5mil to play around.

This post has been edited by sandkoh: Jun 30 2016, 08:26 PM

Bro, you really do not understand.
It is becuz I am not in the gigantic league and not earning (like you). I want my principals to come out in the first 3 weeks of each month so that I have the chance to place in the best FD deal for each month. Without this method, not much chance as don't have money at the right time when the best FD still alive.
What is so difficult to understand or crack head about.
The question was- What is a good day? There are general good days - any day in first 3 weeks. Then there are specific extra good days -but need to refer to calendar. This is for those who need even the tiniest amount or the amount is so big that the financial competence of the person responsible may be questioned. We are usually not too bothered with a few days interest as it is not a big sum..
But the main thing is - What is a bad day? Any day in the last week is bad financial management. Any financial controller placing FD then should be sacked becuz spoilt the future chances.
Foregoing 7 days is chicken feed on 10 k principal, so no need to be so kiasu.

This post has been edited by Deal Hunter: Jun 30 2016, 09:35 PM

If forgo last 7 days in the month is chicken feed, why not put in first and forgo after end of the term?
1) Want the big money in the first 3 weeks so got chance to get the best rate FD.
2) The matured principal may end up in another FD in the last week, and so the disadvantage continues.


This post has been edited by Deal Hunter: Jun 30 2016, 09:40 PM