Hi guys,
Just opened a KDI Save acct today and deposited some funds in. Got an email that it will take up to 3 days for funds to be reflected :

Please note that it will take up to a maximum of 3 working days for KDI Save or maximum of 5 working days for KDI Invest to reflect in your account.

Is this usual? We won't be able to see the funds for a few days?

Thanks guys.

This post has been edited by Garysydney: Oct 11 2022, 05:09 PM

Thank you everyone.

I put in the funds around 12noon today but nothing is showing yet. I always have about 15k-20k floating in my Maybank/PBB savings acct (emergency fund just in case) so i thought i better make use of KDI Save to at least get back some interest.

Thanks guys again.

Thank you very much.

Yesterday was my first time i fpx money from my MBB so i dare not put in too much. I will put in more today - as i slowly gain more confidence in their system (Kenanga), i will move more of my MBB fd (mostly 1 or 2 month tenure) to KDI Save.

Only worry for me is how safe KDI Save is (since it hasn't got the PIDM guarantee). At the moment, my eFD from Maybank is giving 2.2% and 2.4% (1 and 2 month maturity) and i would like to move them to Kenanga Save.

Thanks again.

THANK YOU.

Food for thought.

The only way interest rate is trending is upwards (at least for the next 9-12 months minimum). Interest rates are very unlikely to come down in the next 24 months. Trend is higher interest rates will stay up for a very long time. The days of super low interest rate is over.

BNM has no choice but to take rates up otherwise the ringgit will suffer even more. BNM is super careful not to raise rates too fast/high otherwise the economy will tank further. Now whether BNM prioritize interest rates vs ringgit value is anyone's guess - how far/fast will BNM go?

Securities firm trust account only gives minimal interest which is nowhere near what kdi Save gives. I used to have most of my ringgit in Maybank and Punlic Bank bank shares - recently moved from stocks into fixed interest when interest rates start moving up. Until world markets stop bouncing up and down, better to stay with fixed interest for the time being.

Rate is always proportionate to risk. That is why the rate of return is important. How can investment houses offer higher rates of return? Naturally they have to take higher risks to get the higher returns. This is why investors of fdi Save want to know what fdi Save has invested in. Would you touch fdi Save if you knew they had a rm500mil exposure to Serbadk 2025 bonds (https://www.bondsupermart.com/bsm/bond-factsheet/XS2089155761)?

When you want PIDM, you should expect your return to be a lot lower than another investment house that doesn't provide one.

People don't mind a lower rate if they have the PIDM guarantee. This is why a lot of investors would have investments with PIDM guarantee only. Fdi save without PIDM should in theory offer a much higher rate than banks (with PIDM guarantee).

This post has been edited by Garysydney: Oct 23 2022, 04:46 PM

Security firm deposit does not need to be guaranteed by PIDM because they are very low risk accounts (hence the low rates given). I have quite a large investments in bank shares before and after i sold, i left them in the security firm account for quite some time (while deciding on my next move). I left them in that account because the returns given were very low so as far as i am concerned, this should reflect a very low risk environment. If the security firm deposit was giving me high deposit rates, i would have been a lot more concerned.

If fdi Save offers very low returns, i would feel much more comfortable sticking with them. If kdi Save increases their return to 7%/annum, i would pull my funds out the next day.

I don't wish to discuss more with you about PIDM as we could go on and on so i will stop the discussion here.

Cheers

You are new to LYN and your first post is promoting FDI - hope you are not affiliated to the FDI group and enlisted to promote FDI.

Always a bit skeptical (worried) when i see users like you promoting as a lot of fly-by-night companies/operators use such tactics.

I doubt what you are saying because KDI only started in Feb this year. You have been with them KDI for a couple of years?? If you google it, this is what came out.

Kuala Lumpur, 25 April 2022 – The NEWLY launched Kenanga Digital Investing (KDI), crossed RM100 million in asset under management (AUM) after only two months since its launch in mid-February this year. Developed to make investing simpler and accessible for Malaysians, the Artificial Intelligence (A.I.)

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Newly started fund and you have been with them a couple of years

This post has been edited by Garysydney: Nov 5 2022, 04:43 PM

I don't mind kdi agent promoting their product.

Just scared that they get agents to promote knowing the product is going bust soon (like many of the earlier companies that have left plenty of creditors behind). I know Kenanga branding is pretty strong which is why a lot of depositors have faith in them.

I have 50k with kdi Save at the moment and dare not put in more - i am not so keen about them offering higher interest rates as that is not so high on my priority list. I value the convenience of parking short-term money in fdi Save as my top priority. Another important factor is how secured my funds are - last thing you want is for fdi to go belly-up after a short stint at attracting funds.

This post has been edited by Garysydney: Nov 7 2022, 02:15 PM

I only found one article which was kdi attracted 100 mil in funds after 2 months.

https://www.kenanga.com.my/news/media-relea...ithin-2-months/

I only put whatever i am comfortable to lose if kdi goes belly up. Also if kdi goes under, i am sure the Kenanga name will suffer some irreparable damage. People will be asking whether they still dare to use Kenanga as a financier if one of their subsidiaries sink.

Are the questions worded like a survey or more like a official request for information?

Weekend kdi has no withdrawal - they assume you put in request before 11am Monday.

You should get your money later tonight (probably around 11ish). Withdraw after 11am Friday is like putting in request before 11am Monday. Don't withdraw after 11am Friday as it will be treated as a Monday morning withdrawal.

I withdrew 15k today - funds already taken out around 4.30pm this afternoon.

Don't worry - lah.

Before 12 midnight sure will be in your acct.

Thanks.

I sleep around 9.30pm and money usually still not in so i am guessing 11ish.

You don't know who he is meh?

He is a taikor here lah.

I just checked my Pbb.

My transfer limit is 50k, fpx 100k. Is there no option to increase the limit for you? Mine has a option to increase or decrease and i set mine to be maximum.

Yes - i am a Red Carpet member.

Didn't know they give higher limit to priority members.