Do you know bank rakyat is a cooperative Bank and there is no pidm protection. I see see a lot of people mention putting into bank rakyat.wouldnt it be the same

For KDI. No other special conditions right.
Any risk of losing any money?
For Fixed Deposit?

I presume there will always be risk so long as there is no pidm protection.be it bank rakyat, KDI, stashaway. At least KDI is backed by kenanga investment bank. The same for bank rakyat, it is a coopbank . There is no condition to put in KDI save, just open an acct online. I presume don't put all in one basket like someone mention. Just split funds across. Frankly, If really want bank backed, affin really offered very good rate at 3.00 invikta for 12 to 24 months.They even have 3.25% for 3 years. Highest any bank can offer now.

kdi save is simpler and flexible to withdraw/deposit

risk? depends on your confidence on kenanga lor. but same like any other FIs, the funds are managed by trustee and cannot be used as operating account. even if the institution collapsed, the fund is safe with trustee, not accessible by the FIs.

KDI's FAQ also stated this in their faq https://digitalinvesting.com.my/faq/

What happens to my investments if Kenanga Digital Investing (KDI) closes down, gets acquired/goes public?
To ensure that we never touch your money as required under the regulatory requirements, your money is safely held by our appointed custodian, Pacific Trustee Berhad.
Therefore, you will always have full access and claim to your investments and cash if the Kenanga Digital Investing (KDI) platform closes down, gets acquired, or anything that affects the business continuity of Kenanga Digital Investing (KDI).


discuss further in KDI topic https://forum.lowyat.net/topic/5243436

Actually I am just interested in the fixed instrument.

Any risks in that?

discuss further in KDI topic https://forum.lowyat.net/topic/5243436

there are many users sharing their status

I can't seem to find any FD promos for cimb. Aren't there any at the moment?

ok. you got a point

There are two sections in KDI digital app:

- KDI investing - something quite to similar unit trust. Price change daily.

- KDI save a something similar to high yield saving account.

It is regulated by securities commission. I believe the trust acc funds in stock trading firm is not govern by PIDM. But no one ever complaint the securities firm lose/ steal the money they have deposited in the trading trust acc, right?

If you do want to place money into KDI save, Familiar with the app first until you feel comfortable.

Thanks for info.

Invikta can only be placed via OTC right? Or website also can? Cos was looking through the website earlier, couldn't find Invikta rates.

To join as invikta you need at least rm200k asset under management and FD is one of them.you need to go branch open an invita current acct deposit rm1k and then ask for their invikta rates.normally difference with public is about ,0.05 to 0.10% depend on tenure. Invikta is like priority banking of affin.they will give you an invikta debit and ATM card with yearly fees waived and 5 meps transaction fees waived

One thing I really don't like is since they change system, the queue is damn long.i actually waited at maluri branch for so long and gave up and decided to go affin mytown.surprisingly no crowd and manage to get it done without any hassle. Maybe if you want to skip queue inbranch, try telling them you want to open invikta and I believe they will let you skip queue.

Alternatively, if you don't want to join invikta and you have any affin casa, just add efd and you will see all the rates comes out when you key in the tenure.The difference with invikta over the counter is just 0.05 to 0.1% depending on tenure. So far, I notice affin have not impose must be fresh funds.even maturing FD can get the promo rates if you replace efd and not like other bank they're strict to fresh funds. Don't bother calling their call center, they really don't know all the info, gave me many wrong info on invikta.all poorly informed and trained. I ask them whether invikta have 3.25% rate and they say no but when I went to the branch, they have if you put in 36months tenure

This promo was only for 2 days (30 & 31 of May) for new Affin customers in Balakong branch, Desa Park City branch, and another branch out of Selangor.


I heard Bank Rakyat is back-up by our Ministry of Finance.


This post has been edited by BoomChaCha: Jun 5 2022, 08:30 AM

Some people maxed out KDI's promo rate already.

I noticed Affin eFD (islamic or conventional) rate is 2.85% for 1 year, when I go to place OTC, the rate is 2.9%

This post has been edited by BoomChaCha: Jun 5 2022, 08:53 AM

Wrong thread

I asked Affin RM during signup, Invikta FD rates is only OTC. The Affin eFD rates do not offer special Invikta rates, even if u are their Invikta customer.

Bank Rakyat despite being a coop is also under purview of bnm and bnm under purview of mof. Pidm definitely not protected but chances of failure very slimlah. First bnm will never want to see any Banks fail since it is public money.secondly, BR loan profile is mainly personal lending to govt servant via salary deduction which has very low npl. Highly unlikely can fail

Just bcos of this,... Some people mitigated that risk by going for pidm products only for their very low risk, liquid n convenient investment

This post has been edited by yklooi: Jun 5 2022, 09:51 AM

Yes, i am already an Invikta customer. I was asking if Invikta rates can be found via efd. 😉


[quote=BoomChaCha,Jun 5 2022, 08:52 AM]
I noticed Affin eFD (islamic or conventional) rate is 2.85% for 1 year, when I go to place OTC, the rate is 2.9%

[quote=bbgoat,Jun 5 2022, 09:19 AM]
I asked Affin RM during signup, Invikta FD rates is only OTC. The Affin eFD rates do not offer special Invikta rates, even if u are their Invikta customer.

[/quote

Thanks.