Boss... Kdi save 3.0.. anytime withdraw. Daily calculation. Wait la until FD reach 3.1% only take out of kdi la. 😂

If you put 3k in kdi save today, by tomorrow (Thursday) 11am the money in there, you will have 3000.24 tomorrow. And everyday past 11am (whatever amount you have in there), by 4.30pm you will have increase of 0.2466 (two decimal shown). The cut off time is 11am for kdi save (won't reflected yet) and by 4.30pm you will see it in.

3000 (money deposited) x 3% (interest until 31st December 2022) / 365 (daily rate) = 0.2466 (daily interest you get everyday)

That's the formula. Clear?

By Friday 11am, if you do not do anything, you will have 3000.24 x 3% /365 interest (compounded) which will be added in for friday calculation.

This post has been edited by Wolves: Aug 31 2022, 03:57 PM

Ppl ask then you give la. Most probably bank negara requirement. When open account with a bank you also need. Kenanga is an investment company registered with SC and therefore anything money related they will need to comply with the requirement stated. Plus some investment esp connected to the bank negara/gov only allow certain ppl to invest. Your know la... Malaysia bah. Not first day also.. 😂 small matter...

On another news... OPR naik 25 basis point!! KDI.. faster up the interest liao

SOS

I have said this awhile back. It is not rich or poor issue. I park money in KDI instead of FD coz of liquidity issue. We (financial educated ppl) suppose to keep 3 months expenses (i keep more..6 to 12 months) in liquid form. Just in case you need money you can access it immediately. KDI save fits this role. ASM do as well but buying is a pain and sometimes you get some delay which is less ideal. Another one is savings which i use before kdi save appear. The issue with savings is it's only 0.1% interest? I still keep some for daily use and money that i need very very very liquid. But excess i put into kdi coz kdi save still gives me 3.5% EAR plus liquidity plus convenient. My salary goes into savings and i put aside some straight away to kdi to force myself to save. When kdi hit a certain figure then i withdraw and put somewhere higher yield but min i keep 3 months expenses in it. That's why kdi 3.5% is good. Even if FD is 5% and kdi still 3.5%, i still will not bother coz FD is locked money. It is like saying if 5 years FD is 5% and kwsp is 6% (assuming you are 30).. will you put all your money into kwsp knowing you still need at least 20 years before you can withdraw once? The answer confirm no. Even if 8% you still will think about it. You "might" put 50% money in. You will never put 100% in. Why? Coz you dunno when you need it. Kdi save is for temporary parking unused money. FD, kwsp, mutual fund, etf and other stuff requires 5 years minimum cannot touch (you can but it depends on your luck where the market is or you probably need to sell at a loss). KDI save is a temporary parking from savings to assets. If you understand this much then you will know why kdi is so good and why ppl use them. The 30k limit is plentiful. For those really really rich, they might still go for it coz of convenience and consolidation. Not everybody enjoys money being locked up for certain periods of time and not everybody likes money spread out over 10 places and then forget where some of the money is. Of coz some just know about it and nothing else. Kdi save is the simplest method out there. Some might be new. Some might be lazy. 😂 Whatever it is. 3.5% is not "that bad". The higher the better but not that bad.

I don't think i am the one who you quote just now. I just replying since ppl keep saying 3.5% low and why not just FD. Kdi save if you withdraw before 11am.. might be 11.30am but i do before 11am, you get on the day itself if it's working day. If you miss the time then next day working day. Pretty liquid to me. There is no such thing as i need it next minute. I have savings for that. When my savings "low" then i withdraw from kdi straight. I always have good buffer in savings and in kdi.

Edit: another thing is if i say tdlr version you (as in other ppl that is not me) misunderstand this and that and claim i this and that. If i explained in details for full clarity then ppl say i too lo so kepoh and long gas -.-" apa lagi lu meow.. 😂

Even better but i make it a target not to hit 30k just in case they move target closer again plus my one year expenses less than 30k i would have "bought" something when it is near that figure.

This post has been edited by Wolves: Feb 15 2023, 02:05 PM

If you can rely on daily interest to survive you big whales already. It means your daily interest is like rm50 to 200 leh depending on lifestyle. To get that much daily interest you need a lot lot lot lot of money.

I remember they are building a super apps that can do all financial services like buying mutual fund, etf and sp500 that are suppose to be released like early 2023 right? What happens to it? Maybe they quiet coz testing the apps .

Is it me only or is KDI withdrawal getting slower as well? I withdraw around 1am yesterday morning (I tend to settle everything important for the next day before I go to bed just in case I forget). I got the confirmation email in the evening but I did not recieve the fund even now. Usually I get them that night itself. I emailed them and they told me it's 1 to 2 working days after withdrawal (which never happened before). Is it me or anyone getting same issue lately? Last month still that night itself. This is worrying as we cannot check where the process is stuck at (not like parcel tracking). 😂 Should i be worried?

Good good.. Thanks for confirmation. I also thought i old age dementia already. Also checked everything. 😂 At least i know i not only one. I need the money today.. sigh.. i guess have to wait.

I said "yesterday 1am".. -.-"
Normally "yesterday night received".. -.-"

So today is T2 -.-"

And i got it around 4pm just now.