Dear forumers,

Since the previous thread was in violation of the rules, I'll open it up for for discussion.

What do you guys think of a AUD Savings plan with 20.22% returns in 3 years?

Currency risk wise, personally I feel AUD is quite stable and have been growing strong the past few years.

In the local front, I don't think ringgit is all that strong at all compared to other major Asian currencies, while globally, there's worry on US recession and economic slowdown which more or less, affects the rest of the world.


Disclaimer: This is not meant to be an advertisement nor advice, just for discussion only. For those whom want more info, it can be provided upon request.

Hi cherroy,

Thanks for merging up the threads. I understand its tough work moderating the forums.

However, the AUD Savings Plan I am referring to is not really a Foreign FD account, but rather a Close Ended Guaranteed Investment Fund which can be an alternative to FD.

It works more like a Savings/Education Plan denominated in AUD. Hence the reason why I didn't post it up together with the foreign FD threads.

Here are some of the reason why its different:

1. It comes with Free Insurance Coverage of up to 125%.
2. It is Creditor proof unlike normal bank FD, where creditors can go after your FD money.
3. There's zero withholding tax. Normal bank FD above RM100,000 is subjected to 5% tax.
4. You may even get to enjoy Tax Relief up to RM 6,000 Life Savings/EPF as well as RM3,000 Education reliefts as its considered a life savings/education plan.

This is the closes thing you can get to opening a foreign currency account without having to pay the account charges.

There will be a newspaper advertisement on the News Strait Times on the 24th and 25th April, for those who subscribe.

Offer period is from 18th April till 19th May, 2008 subjected to a first come first serve basis. Offer may close earlier if the assets are fully subscribe.

Current assets available is AUD 7 mil only.

Meanwhile, the company is trying to get more assets approved, so that more people can get to participate.

Hope the additional info can be of help to those interested.

Thank. Best Regards.

Dear b00n,

The 20.22% is a Guaranteed Return.

Yes, you'll be getting back 120.22% net at end of 3 years period.

Thanks.

Best Regards.