So, should I withdraw by 16th June or 1st August?

Can consider Bank Islam's Wafiyah Investment Account. The rates are even higher. I shared it here before: -

seems to be no penalty on pre-mature withdrawal and pro-rated profit

Thanks for the confirmation.

So, what is the maximum tenure for RM 1000 placement?

From their 2016 reports seems that this Investment Account contributes about 20% of their funding.
Let see if MIB will reverse this decision about premature withdrawal

where are they? Sorry I tried but can`t find it

For eGia-i replacement
1) FSM CMF
2) OCBC 360 (deposit RM500/month + pay 3 bills using OCBC and get 2.9%pa)
3) UOB eAccount (only good for RM20k above as RM20k above give you 3.08%pa and UOB give free IBFT)

i asked my Maybank IB remisier regarding this changes.
she tell me that it have not been finalized yet and they still discussing about it so there are still chances.
don't know how true.

maybe they don't dare to risk losing RM20+ billion overnight.

Yup, pretty sure its gona be more than 50% of the fund size.

Doubt it, as this would mean more money to Maybank, as they are forfeiting the interest payable for early withdrawals.

Questions:

1) CMF stands for Cash Management Fund. Correct?

2) Which CMF would you recommend?

3) How risky is CMF (the potential of losing the entire money in CMF), as compared to e-GIA and Fixed Deposit? Usually, the money placed in e-GIA need to be as liquid and reasonably safe, in comparison to the money in saving account.

After all, if we can tolerate higher risk, we would have placed the money in unit trust in FSM, or in share market.

Thank you for your information.

Eastspring Islamic Income Fund? Minimum initial investment is RM50k and RM10k for subsequent investment though. Don't think very flexible 

Thanks. The choice is RHB Cash Management Fund 2.
Since FD is protected by PIDM, we cannot possibly lose our investment in CMF, right?

Yeah, many of us here have ASNB. Let's say that we can set aside RM 1000 for a few days. Since ASNB interest is determined by the lowest amount, we may not get the interest of that RM 1000.

For very short-term money, it is best to put the money in FSM CMF, as you suggested.

It's a bit naive to think there would be a bank run that could hurt the bank immediately for something like this

Actually Maybank's announcement ahead of time serves a few purposes
- Good transparency and disclosure - no one can condemn they just change policy overnight even if they have the legal right to do so
- budget and plan their cashflow accordingly. Do you think they would make such announcement if they need this money desperately? Just like FD promos, they have promos because they need the funds. When they don't need, they don't do promo lor.
- So they already anticipate a mass withdrawal; but the policy made it still attractive to depositors to make placements prior to 1 August and only take out when the cashflow need arise. So really, I don't foresee a big bank run until or unless another bank introduce a similar product with the same accessibility. Maybank2U after all is a very superior and popular product within msia consumer banking segment, not many banks can compete in that sense

There's some very good strategists in Maybank I must say 

How do we get the interest from CMF? Do we buy low and sell high, since CMF is a variable-priced fund?

Was informed that will get Phillip Money Market Fund within same day if redeem before 10:30am and your account for fund transfer is with Maybank.

This line chart also represent the price of your nasi lemak, i.e inflation. It will only go up. If your money in savings account, the line is going horizontal, need around 3-4% to break even with the increasing line chart of your nasi lemak. 

You mean should be higher than 3-4% ?

As per Fs, 3.5%

So, is this how we calculate the interest from CMF?

Percentage of interest = (Selling Price - Buying Price) / Buying Price x 100%

Any reason for increasing NAV of CMF?  :confused:

I got a FSM account now and I'm so lost with this CFM thingy... No wonder my Finance paper in university was my worst results, I just cannot comprehend those figures.

Never mind. I gave up on it. Any eFD option to replace GIA-i? If instant withdrawal is not possible, at least one month lo..

Your savings account gives you 0% hence horizontal line?

If those that prefer liquidity, perhaps should consider go back to m2u savers account.

Thanks for assisting and I don't wanna OT so much, I will go to FSM thread if I want to.
Really appreciate your help, I just dropped RM 700 to have a feel how it works before shifting my fund there.
Yes, that's what I thought of too but need minimum RM 2k to generate interest.

Unker berry rich.