Recently, I treat this GIA as my "Savings" account. whenever there is income in my savings account and when it is more than 1k, i will place the whole amount minus min balance to be left in the savings account, into this GIA. Just uplift whenever i need money, whatever left over if more than 1k, place back into GIA.

Hence the m2u saver seems useless already, moreover, the RM250 min balance is really high as compared to RM1 in Maybank savings account. Maybe will keep this m2u saver account for a while, since i will not hit the RM2k min balance to earn the daily interest.

That's true. That's what i thought - we can always reapply back the m2u savers anytime.

From 1aug, it incl rollover gia too, nt only new placement. So better to withdraw b4 1 Aug.

This post has been edited by ytan053: May 28 2017, 09:13 AM

Ya, in my opinion.

1%+ (1 year performance return) here: https://www.eunittrust.com.my/toolbox/fund_...sp?fcode=001100

3.5% here: https://www.eunittrust.com.my/pdf/Factsheet...00052017_fs.pdf

Switched to Philip Mutual Money Market Fund (PMMMF) instead of Maybank GIA after GIA has lose its flexibility. Only moved the funds to PMMMF if I have touched my GIA, otherwise, it is still pretty good to have the 3.55% for GIA.

For Aug'17, PMMMF gives 3.52% p.a. It was good considering its flexibility and since I have many cc from diff banks, I can save the ibg cost by selling the units in PMMMF to my stand chart / HLB savings account (which offers free ibg and instant transfer) while buying the units with the savings account which my income was credited into.

I guess this is better than FSM RHB Cash Management in terms of interest and flexibility, as PMMMF gives me same day redemption (is use Maybank account) and T+1 redemption (for other savings account) when i redeem the units before 9:30am of the day.

This post has been edited by ytan053: Sep 4 2017, 01:12 PM

Yes.

It is stated funds must be in before 10:45am. to play safe (since need to click so many things), do it before 10:30am of the business day for same day interest.

It took a while for it to show in the transaction history. FYI, it took 3 working days before you can sell it. When I first purchase it, I didnt see it on the next day and called up the customer service. If you place today (First time buying it), you can only withdraw that amount next Wed. As I need to pay to many other banks (I believe you too ), since my income is from Bank A, I would do placement in PMMMF with money from Bank A and then when need to pay bank B, I sell the units from PMMMF and deposit it to Bank B's savings account. In that case, I save multiple 11 sen for interbank giro.

I use HLB and SCB savings account to make cc payment to other banks since there is no ibg fee (HLB have promo now with HL connect app).

Yes. Every time u buy the unit, u can only sell it after 3 working days. The reason why i said initial placement is because if you have previous placement, you can sell the amount that you have previously purchased (provided is 3 working days after you bought the unit).

Correct.

For scenario 1, you still can withdraw Rm5k first from your initial placement after it has reached 3 working days. Then u wait for another 3 working days after your second placement to withdraw another RM2k.

Just x2 will do. E.g. want to withdraw RM1000, then u enter 2000 units.

If you redeem your units before 945am of the day:-

a) For money to banked into Maybank a/c, u will receive latest around 5pm of the day.

b) For money to banked into other than Maybank a/c, u will receive later, maybe around 8pm of the day.

I didnt take note of that, but when I look at the website, it looks like there is no minimum redemption amount/ unit. Refer to attachment.

Yes. I have been selling up to sen too. just remember to always x 2 the amount you want to sell as the unit price is RM0.5.

On the 1st of the following month, you can see the dividend reinvested into your account under transaction history. No way you check like Gia because you will only know this month's PMMMF's dividend rate on the following month.

wont know upon withdrawal. only will know the rate on the following month when the rate is disclosed on philip page / dividend credited into ur account

Interest is still calculated on daily.

In a month, interest on your each placement is calculated from the day you buy the unit to 1st of the following month. For sale of unit, you minus the interest from the day of your selling date (always refer/ check back to the transaction date on PMMMF*) to the 1st of the following month. Even though you have withdraw everything today, you still earn the interest you get for your earlier placement until end of the month (because they also deduct you interest for sale of unit from the day you sell the unit until end of the month).

*I have encountered selling of units after 6:00pm and the transaction date was considered as the following date.

yes.

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

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.