IMO, if you take and include the no of months which you burnt when you decided to uplift your existing FD into consideration, the 'final effective' FD rate may be more or less the same as the previous rate or even lower given that the increase of the new rate is not too significant.



This post has been edited by markedestiny: May 9 2023, 11:29 AM

I guess some ppl may not know when the BNM OPR meeting dates are (published in BNM web)....always wait until after their OPR meeting before placing FD to minimise the hassles.

Otherwise, if suspect that the rate will keep increasing in near future, go for short duration FD of 6 months or 3 months besides spreading out the eggs into several in FDs...

This post has been edited by markedestiny: May 9 2023, 12:42 PM

Why place a FD one week before the BNM OPR meeting? Next time, can check on their web if u like to chase FD rate

If FD matured, can also think out of the box

Die2 have to place monies inside FD only meh?

Can consider ASNB fund now that can buy fixed price ASM units easily while units available... edit to add: can withdraw out anytime, no maturity period constraint like FDs

This post has been edited by markedestiny: May 9 2023, 02:28 PM

ASM's recent div payout 4.5% or 4.5cents per unit. If you go for longer duration FD rate like 12 months, it's only very recently that some banks could match this 4.5% but you're locked up for 12 months unlike ASM which you can withdraw without forfeiting your div/interest earned.

I can see you have a lot to research and read...but this is up to you to find out

Initially, I also started placing monies into FD promos years back but stopped and moved all my funds to ASNB (liquidity storage of funds) which I later deployed into stocks overseas.

Actually I have no interest in this thread, but I thought of sharing 'tool of the trade' for FD depositors i.e. the BNM OPR meetings schedule (BNM wesbsite), rather than just blindly placing and uplifting FDs...

Good move, always pay off your debt first. You have already saved alot of interests there.

See my reply on the HLB promo in the GX Bank thread post #3162