I see. Thanks for the head up. 

Still 4.4 loses out to 4.5. 

I see. Thanks for the head up. 

Wow bnm is expected to lower the rate..
So guys faster go 'Lock' your FD...

mbb GIA will be affected?

Maybe as d current rate of 4% is attractive

that's why I said faster go "lock-up" the rate before BNM meeting next week 

I thought it may only happen somewhere in Sept 16 ?

I thought it may only happen somewhere in Sept 16 ?

I thought it may only happen somewhere in Sept 16 ?

sorry guys newbie here,
just to share what I been advise from a PRO FD investor.

was told if you have large amount of excessive money and not good on share market. The ways to make some additional CASH from bank is through FD.

This PRO had about few millions in FD. He share with me how he make the money grow in FD. Earlier was heavy lost on unreliable share market and he is not good on it. So he workout a better and guarantee return investment.

the formula what he told me as below:

presume the FB interest is 1 month 3.25% and compare 3 month 3.30%.

month amount interest rate        total
1        10,000.00  3.25% 27.08  10,027.08
2        10,027.08  3.25% 27.16  10,054.24
3        10,054.24  3.25% 27.23  10,081.47
   
   
   
month amount interest rate        total
3        10,000.00  3.30% 27.50  10,027.50
Most of the banker will approach you by offer you a higher interest for longer period such as 3 months onward.
But when you work out as formula above, actually if you put in 1 month FD you could earn better. (if you put the interest add in, auto renew).
And additional benefit for short term is you could withdraw any time when u require without loosing half of the interest profit. Let say tight up 6months or 12 months, and emergency need CASH.

This PRO although he is CASH cow, he still prefer split his MONEY is several FD. (he told me about 100 over piece FD document).
If any bank have special promotion you can withdrawn ASAP and reinvest even within same company BANK.
Just my humble sharing, if any above is inaccurate please ignore.
apologies for in convenient cause.

FYI, Friday 16 September 2016 is a public holiday - Malaysia Day.

Can ask your sifu for a formula to
Calculate daily compounding for me
Pls?

Oh, I means Sep 2016....

Long ago, could make good money from daily REPO and then later from short term deposits instead of FD. The calculations were never quite daily compounding  due to the public holidays and week ends. Some banks could handle at big branch, but some are troublesome as have to go to their money market/treasury place at HQ or elsewhere.

The two thing that throws off daily compunding calculations is the rounding method of the particular bank and the days per year used. The 365/366 method does not work for interest add on to principal compounding as the new principal increases daily.

Long ago, could make good money from daily REPO and then later from short term deposits instead of FD. The calculations were never quite daily compounding  due to the public holidays and week ends. Some banks could handle at big branch, but some are troublesome as have to go to/thru their money market/treasury place at HQ or elsewhere.

The two thing that throws off daily compounding calculations is the rounding method of the particular bank and the days per year used. The error is only at most below 1 sen per day in the worst case where truncation (any extra digits after the sen is disregarded) is used instead of normal rounding to nearest sen (half sen off). You need to test this out with your bank to see how their system actually handles.

The 365/366 multiple method is not applicable for interest add on to principal compounding as the new principal increases daily.

Just get MBB's online FD and call it the day, simple and no need to headache. Invest in their GIA that giving 4%.

If u lock-in RM200k with Al Rajhi @ 4.40% n reinvest upfront int @ 3.70%, the returns from Al Rajhi is slightly higher than Affin
Having said tat, need to consider logistics issue unless both Al Rajhi n Affin is side-by-side

Just get MBB's online FD and call it the day, simple and no need to headache. Invest in their GIA that giving 4%.

Just get MBB's online FD and call it the day, simple and no need to headache. Invest in their GIA that giving 4%.