Frankly, I don't see how much one stands to gain, or lose by doing so.

Using Affin as an example :
3 Months 2.48%
6 Months 2.73%
9 Months 2.75%
12 Months 3.05%

If one opts for even 6 months, you will get 2.73% pa, instead of 3.05%.

Now, if in 6 months time you renewal is due and OPR goes up, you again opt for 6 mths at, maybe 2.9% instead of maybe 12 mths 3.2% because there may be yet another hike in OPR. In that sense, you would never be able to opt for the maximum promo % percentage. At the end of it, 2.73% + 2.9%, your average 12 mths would be only about 2.81%, instead of one shot 3.05% based on Affin.

Don't make sense. For me, most of my funds are minimum 6-12 mths FD. I have smaller sums in shorter duration FD for just n case rainy days.

This post has been edited by McMatt: Jul 8 2022, 12:39 PM

yup, im on the same page as u....12 mths looks like the best optimum duration and % return regardless of the opr hike basedon current situation.

What did i do to you....

Don't make much sense to keep up with ORP changes every 3 mth... If it keep around moving your money around for the tiny .25 increments unless it's few hundred to millions on the FD.

Current PBB new rate after ORP

Does affin bank allow mthly deposit of interest for 12mths @ 3.10% pa?

Trust this printout is done branch locally. Just merely change to new rates. FD Customers from 1st May to 7th July, may dispute over the rate for giving old rates by Bank.. Haha. Just my half cent..

Yup, went to PBB just now.

And also no changes to HLBB FD, they said might be next week.

source: credits to [Hoong Lee] from online

Good analysis

This post has been edited by tankianyong: Jul 8 2022, 08:11 PM

Nope, not for 12 mths. Maybe 13 mth FD one can get half yearly interest, need to confirm if it is true for July mth.

Quote :
Frankly, I don't see how much one stands to gain, or lose by doing so.

Using Affin as an example :
3 Months 2.48%
6 Months 2.73%
9 Months 2.75%
12 Months 3.05%

If one opts for even 6 months, you will get 2.73% pa, instead of 3.05%.

Now, if in 6 months time you renewal is due and OPR goes up, you again opt for 6 mths at, maybe 2.9% instead of maybe 12 mths 3.2% because there may be yet another hike in OPR. In that sense, you would never be able to opt for the maximum promo % percentage. At the end of it, 2.73% + 2.9%, your average 12 mths would be only about 2.81%, instead of one shot 3.05% based on Affin.

Don't make sense. For me, most of my funds are minimum 6-12 mths FD. I have smaller sums in shorter duration FD for just n case rainy days.
unquote

But if your place an fd for 6 months, the interest would be at your disposal at the end of the 6 months. You will be using less of your own money. If you place it for 12 months, you must have your own money to survive for 12 months which is a much bigger sum of money! This aspect is not captured in the calculation.

On the previous Monday, AmBank FD matured. Moved it to AmBank AmStar account while waiting for better FD promo.

Then yesterday placed it back to AmBank 12 mth 3.2%. However have to get their HQ approval as they need fresh fund. Since already got >10k in AmStar due to previous placement, so no add'l 10k needed in CASA.

Thank you so much

Yes, MYR started depreciating since 2011 (actually if u got a very long term chart, MYR going down since 1980s), but my point is the SPEED of decline before and after 1MDB was officially known on January 2015 when Wall Street Journal started to cover this scandal with documents leaking out. Here are my facts with the charts I can find on the internet:

13 Jul 2012 USD/MYR was 3.18653
03 Jan 2015 USD/MYR was 3.517 (dropped 10.37% over 2.5yrs)
13 Sep 2015 USD/MYR was 4.4585 (dropped 26.77% over 8months)

Furthermore, markets move even before the 2015. Why? because sure got smart people knew something is brewing. By the time, it is official, these "insiders" already made most of the profits. If you google for the time line of the scandal, the whole thing started since 2010 in May when 1MDB signed deals with Qatar and UAE. In 2013, Goldman Sachs helped raised US$10Billion. In 2014, The Edge magazine reported 1MDB had USD$10billion debts.

The whole scandal started way way BEFORE 2015 and like I said, "insiders" already started to push down the currency because they KNEW. Then, later when EVERYONE knew in 2015, the falloff ACCELERATED.

Turkey got no EPF? I googled. They got so called social security institution. I cannot post the link because I am still under probation. Here is what I found:

The Social Security Institution (Turkish: Sosyal Güvenlik Kurumu (SGK)) is the governing authority of the Turkish social security system. It was established by the Social Security Institution Law No:5502, which was published in the Official Gazette No: 26173 on June 20, 2006. This brought five different retirement systems that affected civil servants, contractual paid workers, agricultural paid workers, and self-employed workers into a single retirement system offering equal actuarial rights and obligations.[1]

You can double check.

Yes, it is true and I will not deny that Malaysia CURRENTLY does not have run away inflation. But, is that a reason to let our guard down? If you don't nip the problem in the bud, it will be very difficult to cure when it got out of hand. It's just like cancer treatment, for that matter, any medical problems. PREVENTION is always, ALWAYS better than treatment. PREVENT possibility of runaway inflation is better than having to treat it when it is running out of hand.

Just discussing my view. NOT intended to quarrel.

Only if BNM hike EVERY meeting. What I advocate is locking in 12months AFTER BNM hike. They may not hike every meeting. So, don't base on calendar month. Do it AFTER they hike, because I think most banks will hike FD rates AFTER BNM hikes.

Meanwhile, just park at banks with highest savings rate you can find lor.

If you looked at the previous charts again,... You will notice that, even with the high opr rate, (@3.25%) the MYR vs USD is still not much improvement,..
So will rising opr rate to 3.25% this time, has significant impact to the status of MYR to usd to a point that malaysians won't be poor?
As a matter of interest,... From the attached charts, it is interesting to note that, when opr falls and stayed low ( 2020), the MYR also can rises too...
Thus you blamed bnm for making all m'sians poorer when opr was raised by 0.25 to 2.25%...
Which I think is not so "correct"....
BNM cannot just do prevention to control inflation by rising interest rate indiscrimately....
For if BNM do that, there could be serious negatives consequences that could affect the economy.
Me too are "Just discussing my view. NOT intended to quarrel"

Yes even if turkey has retirement schemes,... Is it mandatory for all private employees like malaysia?. Since they are new (official gazette 2006), how big is the fund size? does it has positive inflow?
Anyway, I think cannot compare Turkey to Malaysia and use Turkey to foretell that Malaysia will be like Turkey.
Many reasons why Turkey is having problems (which I see Malaysia does not have) *yet* 🙄
Ex:, https://en.m.wikipedia.org/wiki/2018%E2%80%...e%20adjustments.

Btw, my guess which could be wrong the MYR to usd remained low could partly also be due to BNM's "Prohibiting Facilitation of NDF Related Transactions" since 2016.
Need to research the impact if interested to know in depth.

This post has been edited by MUM: Jul 10 2022, 01:25 PM


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If i were you,.. I would just put into sspn instead of hunting or parking at the banks locking your money while waiting for opr to rise.

If i am over 60 or have trustable parents who are over 60,... I would park in kwsp first before sspn.

Yes. And the normal rates at AmBank are very sad. So if you have 200k run to AmBank, get Signature status and place for 3.2.

Affin you have to open avance or invikta accounts first to enjoy the higher rates.

Any idea what is the minimum amount for this promo?

Does SSPN refer to Skim Simpanan Pendidikan Nasional? Any specific treads in this forum discussing about it?