Kena report.. pls ignore this


Old timer din use fsm, more of old skool that prefer going OTC.. so din bother telling nor explaining to him.. I'm jz curious with his claim.. lol..

Wanted to ask in details why and how, especially in calculation but he's got customer waiting for him already.

Back to original question about the question .
Ytd have some discussion with a old timer, uncle
He said since FD for long time which usually won't use it, park the money in pb on board rate but it's compounding interest

So my question, aren't much better than chasing promo rate which is definitely higher. 

What you guys thought on this?

100k @4.5% = 4.5k per annum (promo)
100k @3.3% = 3.3k per annum ( on board)
I'm not pro in calculating compounding interest but will compounding interest exceed the promo given than in 5 years both providing same rate?

Thanks all for the reply..
The uncle seems to believe 3.3% on board FD will much better than chasing promo rate

If got chance, I will try to ask the uncle explain why he think so..

I was skeptical as well with his claim but he's old timer, like 60+ which he have much more experience. Hence trying to ask much clearer clarification. This thread also got many knowledgeable ppl.

Once again. Thanks

CIMB no monthly interest right?

"Rates are subject to change from time to time"

Did u get a debit card? I got one when I opened my BSA account about 2 months ago.

Then on Tuesday placed the 2 yrs 4.65% taking about 30 minutes for opening of FD account to getting the FD cert.

Used the debit card to open online account which is useful for transferring the interest every 3 months.

I think you are referring to CIMB Unfixed Deposit. This is a bundled FD promotion.
It has been going on for over 3 years already for CIMB.
You will have to invest an equivalent amount of FD and Unit Trust, with a minimum investment of RM5k for each account.
The FD one is guaranteed whatever % they offered after a certain tenure, but the other half of your money will be Unit Trust, and you will have to stick to it until the fund earns you a sizeable return (probably 3-5 years).
The bank's website will not tell you this but when you go and enquire, they will refer you to a consultant in the bank to share this promotion in more details.

4.4% 12 months pure fd clear cut no need to purchase other product. i just placed only..

ambank having some bundle promotions, whereby you need to put 50% into purchasing bond and 50% into FD for 12 months.. and they are offering 12m 5.3% for the FD..

for me i think this ambank product is good because in anyway, your bond will also have yearly dividend at around 5-6%.. they offering SARA I, SARA II, EQUITY 3 and EQUITY 5...

any input for this ambank offer?

that is what i thought also..

yes there will be charges.. however, thinking yearly will take back 5-6%.. i would say bond is a longer term investment..somemore now bundle with 5.3% FD.. i would say its a good deal.. but asking more opinion now.

9871 also reported.

wtf?

better go for CIMB  4.4% monthly interest , easy
BI 4.65% but susah.

If have 500k, will not put in FD i think

Unfortunately short short money deposits too low.
OFF TOPIC
Safest is simply pick up the best REITS at lower prices now and then and collect quarterly distribution payments or resell for profit.

https://www.cimbislamic.com.my/en/business/...nt-account.html
i provided the link they didnt mention anything about the rate?
where to get a minimal 4.2 %.?
i am currently placing with UOB and OCBC al-amin at 4.2-4.3%/ perannum

zero interest put underneath your bed = but zero risk of confiscation from bank failure like greece.
4% interest for putting with bank time deposit = minimal risk ( except bank failure like cyprus or greece)
5% -6% direct stock investment= own some sunway or igb reit or maybank share risk of losing your capital in short runs
7-8% probably you need to a be a seasonal trader eg buying cyclical type companies at their bottom ( umw / oil / timber / bank)
> 10% probably need to take more risk eg owning the business. (risk is losing more then your entry capital)

this is the true fact. FD by itself is a form of investment dont believe me :
eg if you have 5 million cash ringgit malaysia with 4% return per annum in average
year 1 5,200,000
year 2 5,408,000
year 3 5,624,320
year 4 5,849,282.8
year 5 6,083,264.51
year 6 6,326,595.09
year 7 6,579,658.88
year 8 6,842845.23
year 9 7,116,559.03

clearly it take 5 yr to get your first 1 million by 4% interest but as the time go it take lesser and lesser time for the next 1 million (2nd milliononly take 3 yr and 6 month)
this is a magic of compounding.
that why buffet said in any investment 1st dont loss your capital...

Bank of China, Bukit Indah, JB.

i see you don't like to answer a clean A/B question, hopefully someone else could.

on my recent certs it starts and end on same date, anyone has Maturity = (Deposit Day - 1) printed on their cert?