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Fixed Deposit Rates In Malaysia V. No.15, Strictly for FD Discussion Only
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David_Yang
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 Jul 8 2019, 01:34 PM
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QUOTE(TheRant @ Jul 8 2019, 01:25 PM) Well.That's the mystery. Comparing 1.8% that is being offered in Sg and now 3.6 percent that is in Malaysia, suddenly the interest rate over here does not look so attractive anymore. I think the other reason is also the risk of property defaults. It is pretty strange why Malaysia decided to decrease their interest rate when the fact is the rest of the world seems to have increased their interest rates. Low interest rate makes it much easier for the government to handle the debt. But it is a dangerous game. And yes, absolutely true, 1.8 in SGD is much better than 3.6 in MYR. I would not be suprised if we see 1 SGD = 3,5 MYR next year. I will definitely convert funds to SGD this year. |
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David_Yang
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Jul 8 2019, 03:31 PM
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QUOTE(CardNoob @ Jul 8 2019, 03:35 PM) So it is not going to be attractive now.  It is attractive if you often buy bus tickets from them like I do. But indeed, this has nothing to do with FD. |
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David_Yang
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Jul 8 2019, 03:40 PM
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QUOTE(TheRant @ Jul 8 2019, 03:03 PM) From an economics point of view, low interest rate should drive the currency down. But then in reality, this does not seem to happen. Anyway, we can just wait and see. But from my point of view another cut by Bank Negara from 3.00 to 2.75 would be a devasting sign. I am preparing now by buying EUR, USD and SGD. Especially the Euro looks very attractive to me with 4.6. |
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David_Yang
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Jul 8 2019, 08:30 PM
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QUOTE(TheRant @ Jul 8 2019, 09:27 PM) Judy curious. This ration has to be maintained at all times is it? Would be quite attractive if can put some money of it at high yield account You can put more in the current account, but that makes you effective rate even worse. I am too lazy to calculate, but with 300k FD and 100k current the effective rate will be under 4%. Maybe |
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David_Yang
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Jul 8 2019, 08:57 PM
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I said that I am too lazy  As knowing that this is useless for me. |
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David_Yang
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Jul 9 2019, 11:06 PM
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QUOTE(jiaen0509 @ Jul 9 2019, 08:11 PM)  Plan to go tomorrow too. But 4.15% for 15m still the highest among others bank right? yes. but I am sure this will fall soon also. Affin just did not expect that nobody else will provide attractive FD offers. The have been floated with money now for many weeks. |
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David_Yang
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Jul 11 2019, 02:07 PM
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QUOTE(lawr0202 @ Jul 11 2019, 02:23 PM) Bank Rakyat 3.98 for 7 months 4.28 for 11 months 15 Jul–15 Oct Bank Rakyat, friend of the rakyat  |
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David_Yang
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Jul 12 2019, 11:36 AM
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QUOTE(CardNoob @ Jul 12 2019, 11:25 AM) That is why one should not go crazy and put all eggs in this basket. I have limited myself to 150k @ Bank Rakyat. It is hard to stay to stand tough, if others don´t compete, I probably will fall to the "4.28 for 11 months" in the second half of this year  |
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David_Yang
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Jul 12 2019, 01:55 PM
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QUOTE(BartS @ Jul 12 2019, 02:21 PM) Yeah, that's the main reason why I walked out. Been one time in a BSN a couple for years before to ask for a promo they had. While talking with staff it was very obvious that BSN and I have a totally different opinion on banking business. No problem, they can live without me, I can live without them |
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David_Yang
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Jul 12 2019, 06:56 PM
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QUOTE(shirleywst19 @ Jul 12 2019, 06:44 PM) Quite attractive if you put 10mil in the Booster and 5mil in the FD. Otherwise not so much |
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David_Yang
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Jul 12 2019, 06:56 PM
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QUOTE(shirleywst19 @ Jul 12 2019, 06:44 PM) Quite attractive if you put 10mil in the Booster and 5mil in the FD. Otherwise not so much |
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David_Yang
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Jul 18 2019, 12:28 AM
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QUOTE(csbong87 @ Jul 18 2019, 12:18 AM) Ok. Saw 4.7 for fresh funds but 3 months only. This is again the 3:1 FD:CA thing. Effective Rate is only 3.53% to 4.28%. For the 4.28 you need to bring in RM 667.000. If you can do this, it is a good deal, if you only can do let´s say 150.000, forget it. |
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David_Yang
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Aug 2 2019, 04:32 PM
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90 percent of FD need to be placed in branch and uplifted in branch. So cannot do anything online. What you can do is bank transfer to new bank after uplift. But there is a daily limit from 10 to 30k and rarely 50k, so need to perform the transfer many times/days.
Usual way is go to branch to uplift, get bankers cheque and then bring the cheque to new bank.
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David_Yang
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Aug 12 2019, 09:02 PM
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QUOTE(Kar Weng @ Aug 12 2019, 02:51 PM) If my assumption is correct, what's the point of the bank offering this product rather than just a traditional 3.5% return p.a FD product?? You need to understand that these bundled products are for big investors. If you put 500k in FD and 166k in CA, you will get some interest for the CA also, altogether 4.28%. If you are small fish like most of us, please just ignore these products. No need to discuss it every few weeks. |
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David_Yang
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Sep 13 2019, 06:10 PM
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QUOTE(keanoppy @ Sep 13 2019, 05:15 PM) Is there any FD/Account in Malaysia, that I can keep USD, and earn % on that USD, and withdraw the same USD without any exposure from FX? No have. |
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David_Yang
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Sep 18 2019, 05:23 PM
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QUOTE(Free Spirit @ Sep 17 2019, 11:03 AM) I think the ultimate question is: Are you adequately equipped for the crocodile pond a.k.a. the stock market? If you're new to it, put your money in FD and take 6 months to learn about stock investment (in the right way, not the get-rick-quick way). Then start small. Good advice. 50k is so little amount, you are not ready for the stock market Do FD hunting and save more. Also start a virtual stock market account and do some training with no risk. Later when you have more money, you can slowly start the stock market career. |
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David_Yang
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Sep 25 2019, 05:09 PM
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QUOTE(cybpsych @ Sep 25 2019, 12:31 PM) Low interest rates — a double-edged sword In short, good for people looking to take out loans, and not so good for people looking to save money. And it is the call for the people to run out of the country with the money. If a tiny weak economy like Malaysia only offers 2.5% with all the risks of a MYR devaluation, big money will be parked in Singapore. Even if the interest there is only 1.5% you definitely will gain a lot more in ten years. Just google SGD/MYR. |
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David_Yang
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Sep 28 2019, 08:56 PM
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QUOTE(Xaser_3 @ Sep 28 2019, 11:00 AM) Unfortunately, Ambank FD rates are one of the lowest board rates being offered 😓 Yes, I will finish my business with them after my last two FDs there will terminate in November. |
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David_Yang
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Oct 8 2019, 01:26 AM
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QUOTE(WaCKy-Angel @ Oct 7 2019, 12:16 PM) and it only benefits the banks Not at all. Low interest rates hurts banks, zero interest or negative (as in EU) kills them. |
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David_Yang
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Nov 1 2019, 12:41 PM
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QUOTE(cklimm @ Nov 1 2019, 12:31 PM) Wow, looks like Affin is discouraging bulk placements from customers. They want to save interest costs? They need to. Affin soaked up so much money from new customers who ran away from other banks in the frist nine month of 2019, unfortunately I don´t expect new promos soon. Yesterday at the branch I was there to inquire, the lady told me the rate they offer now is so low, she feels ashamed to tell me. This post has been edited by David_Yang: Nov 1 2019, 12:41 PM |
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