Hi Guys,

I'm pretty hopeless and pathetic when it comes to managing my own finances. I can scrape out RM500-600/ month (and assume yearly incremental of 10%<) for FD. Looking for long-term, however upon doing much reading - there's just too much information available, and some of it doesn't quite make sense to me. I'm not a finance person

I had stumbled upon this post on LYN: https://forum.lowyat.net/uploads/attach-44/...-1462941010.jpg

It caught my attention. Is there a FD plan I can take long-term? 25-30 years maybe? Where I just put in RM500++ a month?

If it matters, I only have a CIMB savings account & CC.

Please guide me sifus

Oh, okay this is new to me. I didn't know I cannot add whenever I wish into FD. This is going to be an issue, since I don't have a capital to begin with.

Maybank eGIA-i sounds good - I will look into this.
What do you mean by promo rates btw?

As for EPF, you mean I can deposit any further amount (after salary deduction) into my account? Is the 60k/ year inclusive of the already existing salary deduction or is it on top of that? And what's OT?

Thank you!

Maybank Research said the improvement in banks margins may be attributed to factors such asset repricing, a focus on higher yielding loans, particularly in the SME sector and the shedding of more expensive fixed deposits.

Sorry a bit out of topic, but have always wondered about these 2 issues:

(1) must we declare FD interest for income tax purposes?
(2) if FD interest is considered tax free, is there a limit to this tax-free amount?  For example, anything above RM100,000 FD interest must be declared as it will be taxed?

Thanks.

Thanks.

Will check with Affin next Monday. Bangkok Bank has no branch here.

I went into PBB yesterday to check their promo rate offer @ 4.30% pa (4.1 for 6M + 4.5 for 6M) , go staright to customer service counter and spoken to one of the staff for 5 mins, intended to go for my 1st palcement with PBB (withdraw from my CASA) and got a queue no. for calling to speak to customer service. Again ?? :confused:

Other bank i did it at cashier counter for 1st placement.

Waited for 10 mins, pretty slow in calling CS queue no. and noticed only the cashier queue no. was called non stop.

Walked off, can't wait too long as need to return to office. 

What is the current eFD rate for PBB?

May I ask, PIDM Protection is important?

Just to share, HSBC uptown offer
5% per anum for 3 months.

Maximum 30k per person.
promotion until end of this months.
if you interest let me know, my friends work on that bank could assist.