Thanks !!

I am just thinking that we should discuss anything related to Philip Mutual Money Market Fund to this thread instead:-

https://forum.lowyat.net/topic/4268975/+200

it should but seems everyone is derailing this thread uncontrollably

withdrawn all already because no interest for premature withdrawal.

But is there any reason to stay on that i might have overlooked?

If you dont need the money yet, can still leave it there. As long as you have placed the money in GIA prior to 1 August 2017, the interest is still calculated daily until the day you withdraw.

no point leaving there as pidm coverage fd offer 4.2%. just asking if there is any reason to put new fund for short term reason.

anything more than 2 months, go with FD instead.

i still put in eGIA and renew every 2 months, just min RM1k. it's good enough for me to payoff monthly bills, etc

e.g. Oct's gaji + rental, i'll uplift it in Dec to pay bills. repayment in Nov, i'd have placed in Sep.

i also put a bunch of placements prior to 1 Aug, they are still renewing every 2 months, however i could uplift it anytime while maintaining daily profit.

Upliftment - Step 4 of 5

Confirmation of upliftment.

Product type: General Investment Account-i (GIA-i)
Account number: 261145021833
Cert reference no.: 00000158E
Term: 2 months
Maturity date: 22 Nov 2017
Current balance: RM1,000.00
Name:
Closing amount: RM997.53

something wrong, why I withdraw GIA then is lesser than my principal amount?
even no interest suppose get my full principal back..
FYI, this is old GIA placed before 1/8 but I think it was renewed on 22 September due to expiry term is 2 months.

This post has been edited by wan7075: Nov 8 2017, 03:05 PM

There you go. Renewed on Sept 22. That's why you have have less money. Maybank deduct your money for uplifting before the date

Premature withdrawal prior to maturity of tenure is subject to the following conditions:

1) For withdrawals within 3 months of the investment tenure, the customers shall agree to waive the right to receive all of the attributed profit;
2) For withdrawals after 3 months of the investment tenure and before the maturity date, the customers shall agree to waive the right to receive 50% of the attributed profit.

you mean I have receive the interest from 22/9 till 22/10. so if I withdraw now, then they will took back the interest for October right?




This post has been edited by wan7075: Nov 8 2017, 05:44 PM

That's right because you set to auto renew. Had you set it to expire 60 months, you would not kena.

this is why my 10+ placements before 1 Aug were all 14 months tenure (min tenure for RM1k placement), so that it doesnt renew anytime soon currently accumulating monthly profit (add to principal) and later upon uplift will also gain daily interest.

thanks all sifu. maybe will withdraw it after matured

whatever that you've put before 1 Aug (2 month tenure), all already renewed, hence following the new renewal policies.

however, you still can let it renew, but just be mindful on the maturity dates.

or park the fund in other better investment platform, if you prefer.

I transfer from eGIA when it matured to PMMMF since its 3.52% but seems like for Nov its 3.03%? I'm still ok because was only planing to place less than a month.

But thinking now to go back to eGIA because probably won't be using the funds for 3 months.

Sorry, I can't seems to find the monthly PMMMF rates, only see on the home page 3.52% as of 31/10/2017. Anybody know how to look for what the rate was in the previous months / year?

Hi guys
So sad GIA-I no more pay interest before mature.
can recommend place to parking which pay interest daily?

For me, the nearest is the m2u savers

Phillip money market. Amanah saham fixed price fund.

M2U savers nowadays sucks. Avoid at all cost.

suck how?