FYI Effective Rate 3.57%



This post has been edited by IamNOT: Mar 8 2017, 09:15 AM

Thank you for detailed calculation, it proves that savings plan is really good for "saving" only

Thanks to people like I Am Not. Not everyone can be generous in sharing real info and some a quick to ask you to move on to another thread - which is true but its also ok to help out a little. This forum is still the best place for advise. Thanks.

Thanks for clarification.

Good for newbie.

Thanks..this is good info to add to first post

an eye opener. it shows how sometimes it can sound so misleading

it is very common they play with words.

you want long term, better dump your money into EPF.

Hi All,
Sincerely would like to thank all the forumer's for your advise.

Q: Too good to be true.
A: From the advises, it does't look like a good plan, better to put in FD (compounded int) will give better returns.
Also as pointed out the effective rate is roughly around 3.57%

Q: In 11th year, you already invested 36,000. Is 1,188 still 33% of 36,000?
A: Yes, from 11th to 20th you get a fixed amt 1188.00

FYI:Best to re-post your question here, Insurance Talk V4
A: Apologies, next time will do that. Some of the replies here have answered my question. Not sure if I will get different answers.

Once again thanks for valuable replies.

A picture (table) speaks a thousand words.

Haha that would bring us to the Shares or Unit Trust thread regarding with remisiers & fund managers to bet on..lol
Hopefully I can be a high earner in the future ^^

Yah, last time when young I always wonder why people who win jackpot cannot stay rich

if say RM1,000,000 x 4%p.a = RM40,000 per year or RM3,333 per month which is higher than most degree holders starting salary

Then I got older & found out about taxes & annuity & how small our ringgit is >.<

Lol same lah, though I don't even have 10% of what you have, still testing the waters and playing at the shore first

Thanks bro you rock, there was this RM1 per day thing by Public Bank previously that only payout after 6yrs, within 5yrs you take you get zero >.<
always good to have sifus advice here

yup, it has additional "feature", and not comparable with fd.

Just done mine today.

HLB OTC 6 month FD at 4% min 10k

This post has been edited by WhitE LighteR: Mar 9 2017, 06:40 PM

is that for online placement?

Hi,
I was over at HongLeong at during lunch time, this is over the counter FD. Details on the attachment.

Thanks


Attached thumbnail(s)

AMbank.

AM50plus term deposit-i (60 months 4.35%pa monthly interest >>CASA)
Webpage

sorry. this is for OTC

i edited my original post to be more clear.

US going to raise rates 50 - 75 basis points this year....

Hence, BNM going to raise at lease 25 basis points....

4.35p.a is a fool hearty deal.

Fool hearty deal????

May I know which CIMB branch offered 4.15% FD

Very unlikely BNM will follow FED because our economy is not performing well. Last year inflation was up due to GST. This year inflation will continue worsen due to weak ringgit. We are seeing a cost push inflation and Malaysia economy is moving towards the down turn phase, increasing the OPR will worsen the economy further.

US reported high oil inventory and this will affect the oil prices and hurt the country revenues. To stimulate the economy, government is depending on China on its fscal policy as government has no excess money on spending.
BNM has to play with the OPR on its monetary policy to spur growth. Increasing the OPR will reduce the money supply in the market and will drive down the economy. Personnaly I think the OPR will remain throughout in the next 6 months.

if Malaysia economy can recover in 2-3 years with GDP climbing up and with a demand pull inflation, then only a big increase in OPR is possible. There are also other external factors which will affect the OPR. Ringgit exchange rate, BREXIT effects (BNM reacted to it when British voted BREXIT), South China Sea tension, Trump economic policy, global economy etc.
Ideally 36 months at 4.35% is good to lock in but now Am offer is 60 months. Nobody has the crystall ball. If one perceives the economy will not be doing well in the next 5 years, 4.35% is a good rate.

This post has been edited by gsc: Mar 10 2017, 01:23 AM