QUOTE(KuzumiTaiga @ May 4 2019, 12:51 AM)
hi, would like to place FD for 3/6 months
CIMB 5% promo is the best right now is it? for 3 months, basically it's like a typical FD right but uplift in 3 months? coz i don't understand the 1:3 ratio thingy, hope someone can explain to me.. thanks!
Let's take the example shown on CIMB flyer,
FD Principal = RM500K CASA Embark = RM167K
Ratio is 3 : 1
5%p.a(per annum) at FD amount & assume CASA (saving/ current a/c) is no interest
so,
3 months FD interest is
(5%/12 months x 3 months) x RM500,000 = RM6,250
Effective rate per annum is
RM6,250 / 3 mths x 12 mths (RM500,000 + RM167,000)
= 3.75% per annum
Ratio 3:1 means when you place RM300K as FD principal then you hv to put RM100K at CASA & maintain the amt at CASA for 3 months
QUOTE(MakcikLum @ May 4 2019, 03:46 AM)
Let's take the example shown on CIMB flyer,
FD Principal = RM500K CASA Embark = RM167K
Ratio is 3 : 1
5%p.a(per annum) at FD amount & assume CASA (saving/ current a/c) is no interest
so,
3 months FD interest is
(5%/12 months x 3 months) x RM500,000 = RM6,250
Effective rate per annum is
RM6,250 / 3 mths x 12 mths x 100%
(RM500,000 + RM167,000)
= 3.75%
per annumnote : when calculate effective rate per annum,
you need to convert the 3 months interest earned to 12 months, that's why need to divided by 3 & times 12
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