Can i know which bank saving plan is good ? Juz need tenure 6 - 10 years. Only for saving coz insurance plan ord have

This post has been edited by samsungXP: Apr 15 2018, 02:18 AM

The best is put ur own fd

Every month u put 1000 fd for 12months

Saving plan is actually jus taking ur money n buying unit trust for u. U can jus buy ur own unit trust

But every month target save rm300 - rm500.FD min rm1000

Hmm i would suggest u putting in unit trust. But i guess u are not a investment person? Jus wanna put fd n zero risk?

Maybe can put fd every 2 months then.. 500+500

But saving plan interest more higher

Higher interest comes with higher risk.

No free lunch there.

Maybe in the form of a lock period which is a form of liquidity risk.

Give money to parents

Masuk SSPN la. 4% yearly. Got rebate for income tax summore.

anyone can masuk?
got age limit?
uncle old already...

If really uncle then good. Open under your kids name la.

I myself open two accounts. Summore this year got free rm500 grant for kids 7-12 years old.

whut is this

Which bank ?

Put Insurance, free insurance somemore

But alot say, insurance is insurance. Don't mix the up?

Nowadays got short term pay to maximise protection and investment

Ord have insurance plan

the best is asb.

if not eligible, maybe can pm for deal

Instant 24%++ annual return if you dump into SSPN (in a form of tax rebate), if your annual income is 100k and above (tax bracket @ 24%+)

But max is 6k laa.

And only valid for 2018, 2019 and 2020 - meaning got 3 more tax assessment years, unless gomen extends it further

Caveat is you need at least 1 kid, and it is hard to cash out till the kid is 18 yrs old

also, if you earth prince then got ASB as well maa. ~7% annual returnz risk-free, tax-free, and no fees

This post has been edited by ketupatlazat: Apr 15 2018, 11:14 PM

You dont know about sspn? Education fund for ur kids

Wat is the min tenure

LOL Saving plan also need to go through agent...

every month contribute 30% to agent for first year


come come Income Builder Plan - Save 6k this year can withdraw 2K, 33% return in 1 year!!!!! dont know what's income builder plan??? GOOGLE LA

INCOME BUILDER 8228 3288 2829 2928 ALL OUR PEOPLE

oh really? then i gotta read up for the info.

i have no clue on this. although still single

I took a saving plan by HLA. Look out for it, I think it's still available. Minimum lock in, 6 year. Return quite high.

TS dah la cakap 6 - 10 years and you go babbling about liquidity risk.

Ugpm

HLA... that is not saving plan my friend.. Jus a way to sell their product by insurance company

Whats the return when u withdraw after the minimum of 6th year?

Buy gold and keep?

There's a guaranteed return, average to 6.9%/annum. Interest applied on this amount if you don't do withdrawal on it. There is also dividend, but forgotten the rate. My last calculation based on best rate, it could go up to around 9.7%/annum.

Yes, withdraw after completed 6 years tenure. It was backed with PIDM as well.

saving plan that you need to contribute monthly?
how about no...

i think there was a thread in Finance discussing this so called 'saving plan' from HLA, busted their myth of so called 'guaranteed return'...

im quite familiar with the returns, dividends, and surrender value.. many HLA agents have explained to me

I did the calculations. Only those that don't understand it said it's a myth.

30%dividend per annum? Hahahaha

me too put inside sspn.

but assessment year 2017 is the last year for incum tax rebate.
Assessment yr 2018 no more.
sadding

I've already said, average to 6.9% per annum. Not including dividend.

Already extended until 2020 la.

OK, just googled about that.

another 3 years tax relief

Thks for info

this 2 threads ah?

https://forum.lowyat.net/topic/3602419/all
https://forum.lowyat.net/index.php?showtopic=2723676

All in Btc when low then ride tide n drive lambo

You must have misunderstood hos questions..

He was literally asking you is there age limit to open a sspn account?

He is not very sure about it because he quite old already

Ops sorry, Yes i noticed u said didnt include dividend.

I meant to say, 'you believe the agent when they say dividend 30%'? Invest 12000 a year.. The dividend is 3600 @@

What does ur policy say you will get when you terminate the policy / upon maturity? I rmber there is no 'guaranteed return / guaranteed profit' , only 'worst case scenario / best case scenario'.

Correct?

Anyway, its your money. I jus wanna start a /kopitiam talk, no offence

Tq unker hehe

I calculated saving plus plan before, better you keep in FD. FD accumulated interest plus shorter maturity period, Saving plus plan fixed interest at 3 %, usually with few years maturity period. Your accumulated interest in few years definitely higher than saving plus plan i tell you.

I calculated this before, I actually join a few years ago cause still noob. After understand cashflow and use final maturity period with final sum, if no take into account inflation is 3% interest p.a. If inflation take into account almost make loss. Better FD.

Are we talking about the same plan here? Every month 188 for 10 years. and then for another 10 years get cheque at the end each year, and at the 20th year get one lump sum. Got dividend meh? I read the policy up and down never saw a dividend clause, only time of maturity and surrender value.

i think the only way to find the real return is really enter the program, then plot every year how much pay in, then get every year pay out.
i think after year 10.. then can see whats the real returns..after all those variables like dividend /that particular year actual figure u received etc
i had one running over 10years adi (not HL) i think 12 year payment , then autopilot, when i check the real figures it was like 3-4% real return.. not much actually. but ok la for some forced savings/backup funds. haha and then just leave it to run until 60 or 75years old. etc...

Ya need to enter and wait 10,15yrs only can see real return... But cannot guarantee it will be higher than unit trust or even fd. Because policy doesnt guarantee a payout. My own brother's education saving plan payout was lower than fd rate (compounded) after 10yrs.

best is to park everything excess into full flexi housing loan then every month quite cheap for my monthly mortgage

Not everyone understands...

If they use 'best case scenario' % calculatiob of course the return will be higher than fd. But impossible every year also 'best case scenario' ma.

If u tell the agent this, they will tell u 'aiyo boss, every year hla gives out xx% la, wont drop below xx%'

Then u ask them 'is it guaranteed in policy?'

They eill diam diam.

This i totally agree...if i fully park into my flexi loan now, the return from rental is a whooping 7.5%!'

fuyoh!
eh got deduct LHDN portion of the rental or not?

I wasn't told it was 30%. Just said up to 10% per annum return. This would have to include dividend (max rate) along with compounded interest.

Like I said previous, I did the calculations and it's there. But I haven't check what's the dividend I'm getting though. Will treat it as a way to force my savings. The extra interest over FD is a bonus.

Was definitely told about the early withdrawal penalty. The agent is quite clear on the details with me. So I was ok with it.

FD won't be affected by inflation? If you're discipline enough not to touch the FD once it's matured, then it's ok. It's your own choice.

Sounds different. Mine min must save for 6 yes I order to get the return tabled out. And it's fixed amount per year savings.

To get the best rate, just withdraw once the contract is due. Cause if leaving the savings with the running rate, the interest is not that high. Take it out, reinvest again in similar saving plan.

Their selling point was, "this is the final deal already". But manatau 2 yes down the road I'm still seeing similar plans by HLA, albeit slightly different rate (lower already I think). But if do it every 6 years, the rate is considered high. Definitely better than FD.

Anyway, do your own calculations. You'd know what's best for yourself.

so which bank currently the higher interest for FD ?

Last i check was Affin, 4%. Need 5k though