So officially withdraw today for 3.45% rate or tomorrow uplift still the same rate?

Possible rate fall to 3% pa tomorrow regardless whether you withdraw/uplift or not.

That's a bummer. No more viable option for me. I was looking for one that can be done online, and instant transfer.

Therefore uplift today to get the guaranteed 3.45% then.

Thanks!

isnt the interest are calculated by daily? so i dont think it would affects the rate that had gained previously..

for example the interest b4 16 jun still 3.45% that u gained daily but after that is 3%? isit calculated like this?

That's the part i'm not sure thou.
That's why i want to play safe uplift first and then make a new placement.

anyway, want to ask after the new policy kick in. what is the difference with eFD and GIA-i ??

seems like the same

Until 01 Aug, GIA you are still able to uplift anytime and earn full interest rate.
But thereafter, you better find some other flexible liquidity vehicle to park the money.

i understand.. just wondering whats the difference after 01AUG comparing with eFD.. maybe just the rate difference

This post has been edited by [revolution]: Jun 15 2017, 12:29 PM

Yes. IBFT to other bank's savings or current account counts as bill payment too.


Thanks for the update. It is a shame that we couldn't do it online.

This post has been edited by MilesAndMore: Jun 15 2017, 02:03 PM

the main one being, eFD is guaranteed the agreed interest rate and is covered by PIDM is case of bank default whereas for GIA technically you could get back less than what you put in (although it hasn't happened yet) and not covered by PIDM.

thus if the rates between efd and gia is similar and now no more flexibility on early withdrawal, gia is no longer an attractive venue to park short term funds.

hi, yr loop hole can be used or not?

I think can because the rules is implement for GIA from 1 August.
So if we do GIA on 31 July for 60 months, should be no penalty.

pls correct me if I'm wrong.

that's what their new regulations spelt out. unless they decide to change the rules half way.

save a copy of their announcements, if they somehow change again, can complain to BNM

you can try placing small amount for 60m tomorrow and withdraw after 1st aug and see if you are penalised.

min 10k is required for 60m. hehe..
but can try la... if no penalty then is good!

I'm not sure bro, didn't follow gia for while ad.

3.00% p.a. rate now.

Just uplifted and place a new placement.

Let the exodus begin!

new placement where?

bye Maybank, and thanks for all the fish!