KDI is daily interest, FD once you break everything tarak.

KDI's more for funds you might need to use, FD is for money you know very unlikely you need in the medium term.

Both play different role.

Ambank 2 months FD, 4%, minimum 10k- https://www.ambank.com.my/eng/promotions-pa...i-via-FPX-Promo

Hong Leong, 3-months, 3.93%, Minimum 10k- https://www.hlb.com.my/en/personal-banking/...fd-i-promo.html
6-months, 4.13%

These FD rates looks better and short term.

Only thing KDI is better for now is quick withdrawal.

Same thing Ramjade and I mentioned.

You put 20k in KDI today, next month suddenly you need to take out 10k to do CNY party, no worries can straight do. Interest still goes on for the remaining 10k, you get your money within a day or so.

Maybe suddenly you realise your friend will cover the bill so now you have 10k cash, nevermind can put back in KDI with same interest no need wait promo etc.

You put 20k in FD, next week suddenly need to take out 10k. Cannot, you will break the term thus you earn zero interest even though it's been a month they get your money.

You wanna put back the 20k now, promo habis interest goes lower etc.

FD is complimentary to KDI, it isn't a great substitute. You can get 4.6% 18mths in some banks, that is on premise you will not need the money in the coming 18 months.

So use both, put some in KDI in case you need to use in a day or two. The rest can put in FD.

Cannot compare FDI with KDI save in terms of liquidity 🤦‍♀️

If you want liquidity rates doesn’t matter but withdrawal times

Don’t compare 2 or 3 months FD with KDI save as the rates negligible because you have divided the rates lower by 16 to 25% lower because of the term limits 🤦‍♀️

never use FD as emergency money
KDI can

Tuan, when will KDI opens after Chinese New Year holidays?

Because I want to withdraw some money from KDI and deposit to KWSP.

Tauke:

If to put:
(1) RM 2000 to KDI for 1 months, rate is 3.5% p.a.
(2) RM 2000 to one bank for 1 month, rate is also 3.5% p.a.

Which one can earn more interest?

KDI as they pay you daily interest while bank pay you upon maturity. But difference is negligible. Of course if you taking about withdrawal early than you get your interest with KDI while you get nothing with bank FD.

follow bank working days

start 25 Jan, after Public Holidays

KWSP is great, just that you need to wait till at least 50 before you can partially withdraw it

3k(own contribution) can waive for tax starting this year. so one of the option to reduce tax

This post has been edited by ericlaiys: Jan 24 2023, 10:48 AM

Really? I thought only via PRS, no?

No such thing man

Thank you

Thank you

Thank you

This post has been edited by DiamondBar: Jan 24 2023, 02:56 PM

Macam terbalik. FD is instant withdrawal. One click money reach account. KDI still need to wait for processing time. Emergency funds should prioritise liquidity instead than yield. You got emergency need money now you can wait 2 business days ke?

which bank that give 3.5%, bank if you withdraw before month end, interest is pro rated right for the balance?

endless debate. which mmf gives pidm, however small the risk?

That’s why emergency fund is always need to be put inside the bank for a reason whether savings or FD 🤦‍♀️

Sorry, 3.5% is just an example only..

If make a withdrawal from KDI before 11.00 am during business day, money can available in saving account in the evening on the same day.

KDI use IBG method for depositor to withdraw money.

Correct also..

This post has been edited by DiamondBar: Jan 24 2023, 05:04 PM

last i heard, not sure approve or not. refer to https://www.theedgemarkets.com/article/govt...000-budget-2023
read till end..