Which 1 month FD do you refer to? The rate of Maybank 1-month eFD is 2.95%.

MIA-revised_FAQ.pdf, Clause 3:
The above profit waiver (interest forfeited due to premature withdrawal) will only be applicable upon rollover and/or upon new placements of GIA-i after 1st August 2017.

So, that means that the last date to place eGIA while retaining daily interest during premature withdrawal is 31st July 2017.


Scenario 1
31st July 2017: Place RM 1000 eGIA, with 2-month tenure.
6th August 2017: Uplift the RM 1000 eGIA.
Interest Gained: RM 1000 x 0.03 x 6 / 365 = RM 0.49. Correct?


MIA-revised_PDSTermFund.pdf, Page 2:
Profit Distribution Frequency - Monthly.
We need to prevent our eGIA being renewed or rolled over, because automatic renewal of eGIA will remove the ability of retaining daily interest during premature withdrawal. That is why as many suggest, we need to choose the maximum tenure, namely 60-month tenure.


Scenario 2
1st July 2017: Place RM 1000 eGIA, with 60-month tenure.
1st August 2017: Interest Gained: RM 1000 x 0.0355 x 31 / 365 = RM 3.02. (Monthly Profit Distribution)
1st September 2017: Interest Gained: RM 1000 x 0.0355 x 31 / 365 = RM 3.02. (Monthly Profit Distribution)
7th September 2017: Uplift the RM 1000 eGIA. Interest Gained: RM 1000 x 0.0355 x 6 / 365 = RM 0.58.
Total Interest Gained = RM 3.02 + RM 3.02 + RM 0.58 = RM 6.62. Correct?

Is my calculation for both scenarios correct?

Thanks for the confirmation.

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

This is my opinion.

Monthly profit distribution is a product feature of eGIA, and remains uncharged after 1st August 2017.

Rollover should mean automatic renewal of eGIA, after the original tenure is completed. So, monthly profit distribution has nothing to do with rollover.

Logically speaking, if we place 60-month eGIA before 1st August 2017, we can keep the interest due to premature withdrawal, anytime within the 60-month tenure.

Only after 60 months later, the eGIA is automatically renewed, and as such, the interest due to premature withdrawal wil be forfeited.

This post has been edited by kart: May 30 2017, 10:29 PM

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.

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.

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

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?

Thanks to all posters who provide information on CMF. Here, I compare the two CMFs.


RHB Cash Management Fund 2

- Interest Rate: 3.35% per annum
- Withdrawal takes 2 days and can only be done on Mon-Fri (have to put in sell order by 3pm).
- NAV increases on a daily basis. So, upon withdrawal, principal and interest can be obtained at the same time, 2 days later.


Phillip Master Money Market Fund

- Interest Rate: 3.49% per annum.
- can withdraw at T+0 (fund credited by afternoon same day to Maybank account if redeem before 930am).
- Interest is only credited once, at the beginning of next month. So, upon withdrawal, only principal can be obtained at the same time.


Another downside is that for Phillip Master Money Market Fund, since we receive the interest late, we cannot compound the interest, by reinvesting the interest. This is particularly true, if we choose to withdraw our principal early of the month, and have to wait for the interest to be credited next month.

Phillip Master Money Market Fund.

The comparison just shows the pros and cons of each CMF.

This post has been edited by kart: Jul 17 2017, 10:32 PM

fruitie

Follow the following steps by puchongite.

So, for subsequent placements (not initial placements), does it still take 3 working days before you can sell it?

For Phillip Master Money Market Fund:

Minimum Amount for Additional Investment: RM 500 (to avoid the FPX transaction fee from being incurred.)

Minimum Redemption Amount: No minimum amount, as ytan053 pointed out.


Is it possible to make additional investment with cents, such as RM 500.50, or RM 2060.83?

On the other word, can we sell the units, in amounts such as RM 50.60 or RM 1000.32?

Well, on the first of every month, we will receive the interest of our holding of the fund (based on the internet rate of 3.52% as of now). More often than not, the interest has cents.

This post has been edited by kart: Oct 6 2017, 04:28 AM

Thanks for your confirmation, ytan053.

I shall buy the units in round figure (without cents), and I shall sell units in cents.

By the look of it, it is possible for us to have 0.08 unit (due to the crediting of interest), for example. As the NAV price per unit of RM 0.50, it means that we have RM 0.16.

Before this, I have wrong assumption that we cannot buy or sell units with the transaction amount of less than RM 0.50, since that is the NAV of the fund. I wrongly thought that we have to sell the units at RM 100.50, but not at RM 100.75.

This post has been edited by kart: Oct 8 2017, 08:10 AM

For the smallest placement amount of RM 1000, the longest e-GIA tenure is 14 months.

Since the feature of daily withdrawal without forfeiting profit was removed on August 2017, many of us here placed RM 1000 e-GIA with 14-month tenure around July 2017.

Sadly, these e-GIA will mature around September 2018. Once these e-GIA placements are renewed around September 2018, the feature of daily withdrawal without forfeiting profit for these renewed placements is removed.

Judging in terms of almost equivalent liquidity and interest rate, I have to move the funds from matured e-GIA, to Phillip Master Money Market Fund. Sigh, there is no other option.

Same return, as stated in the fact sheets.

Phillip Master Islamic Cash Fund Fact Sheet
https://www.eunittrust.com.my/pdf/Factsheet...06082018_fs.pdf
Monthly Distribution Record for July 2018: 3.69% p.a

Phillip Master Money Market Fund Fact Sheet
https://www.eunittrust.com.my/pdf/Factsheet...00082018_fs.pdf
Monthly Distribution Record for July 2018: 3.69% p.a


So, I guess that we are still putting our faith in Phillip Master Money Market Fund, since this fund has longer track record.

This post has been edited by kart: Sep 1 2018, 10:35 AM

I cannot uplift eGIA-i on the old Maybank2u website. It is because the old Maybank2u website provides only the link to be redirected to the new Maybank2u website, to uplift eGIA-i.

Does anyone else face the same issue as me?

heavensea

Yeah, it seems that at present, uplifting e-GIA in the new website is the only way.

As it stands, Maybank is slowly reducing the features of the old Maybank2u website, to encourage the migration to the new Maybank2u website.