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Chat RIZE interest dropped to 3.3%, where next to move cash?

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TSiGamer
post Oct 1 2024, 11:59 AM, updated 3 months ago

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As we entered new month October, and promotional interest rate on cash funds have mostly gone down... Where's the next good place to park cash?

RIZE dropped from previous 3.7% to 3.3%

Versa Cash- 3.63%

KDI- 4% (First 50k), 3.5% (50.1k-200k), 3% (>200k)

Tempted to move some to EPF if rates keep going down hmm.gif

Edit:
There's a "Be U" eFD promotion from Bank Islam now, 4% (12mths), 3.95% (9mths), 3.75% (6mths), minimum RM500, no max ceiling. hmm.gif

This post has been edited by iGamer: Oct 1 2024, 12:27 PM
funnyTONE
post Oct 1 2024, 12:01 PM

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MrBaba
post Oct 1 2024, 12:01 PM

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Fun fact 3mil saving at 7% yr making 20k each month goyang kaki .
blueknight
post Oct 1 2024, 12:04 PM

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still good to park emergency fund lo.
TSiGamer
post Oct 1 2024, 12:04 PM

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QUOTE(MrBaba @ Oct 1 2024, 12:01 PM)
Fun fact 3mil saving at 7% yr making 20k each month goyang kaki .
*
ktards recommended level is RM4 mil though.
dawnreaver
post Oct 1 2024, 12:05 PM

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QUOTE(MrBaba @ Oct 1 2024, 12:01 PM)
Fun fact 3mil saving at 7% yr making 20k each month goyang kaki .
*
Where can you get 7% yearly though?
MrBaba
post Oct 1 2024, 12:24 PM

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QUOTE(dawnreaver @ Oct 1 2024, 12:05 PM)
Where can you get 7% yearly though?
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Fund reit etc lo
poco loco
post Oct 1 2024, 12:33 PM

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i put 85% at 'beU' liao...pidm somemore
TSiGamer
post Oct 1 2024, 12:36 PM

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QUOTE(poco loco @ Oct 1 2024, 12:33 PM)
i put 85% at 'beU' liao...pidm somemore
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Ya, just found out this new “be U” from Bank Islam, gonna say goodbye to RIZE.
killdavid
post Oct 1 2024, 12:37 PM

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Move money here and there chasing 1% interest.
Got better things to do
xing7
post Oct 1 2024, 12:42 PM

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QUOTE(dawnreaver @ Oct 1 2024, 12:05 PM)
Where can you get 7% yearly though?
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Ever heard of Private Trust? smile.gif
TiramisuCoffee
post Oct 1 2024, 12:49 PM

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QUOTE(xing7 @ Oct 1 2024, 12:42 PM)
Ever heard of Private Trust?  smile.gif
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Can u explain more? It’s for the very rich isn’t it? ( to setup one?)
Emily Ratajkowski
post Oct 1 2024, 12:52 PM

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QUOTE(iGamer @ Oct 1 2024, 11:59 AM)
As we entered new month October, and promotional interest rate on cash funds have mostly gone down... Where's the next good place to park cash?

RIZE dropped from previous 3.7% to 3.3%

Versa Cash- 3.63%

KDI- 4% (First 50k), 3.5% (50.1k-200k), 3% (>200k)

Tempted to move some to EPF if rates keep going down hmm.gif

Edit:
There's a "Be U" eFD promotion from Bank Islam now, 4% (12mths), 3.95% (9mths), 3.75% (6mths), minimum RM500, no max ceiling. hmm.gif
*
the only place that can guarantee higher return is money market funds.
any savings account type will surely give less than the risk free rate.
Zaryl
post Oct 1 2024, 12:53 PM

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Rize 3.3% is way better than typical banks CASA which offer only 0.25% p.a.

Some more it’s very liquid, can takeout and use for emergency anytime.

But if you dont mind parking for non liquids, can rajin hunt for FDs
TiramisuCoffee
post Oct 1 2024, 12:53 PM

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QUOTE(iGamer @ Oct 1 2024, 12:36 PM)
Ya, just found out this new “be U” from Bank Islam, gonna say goodbye to RIZE.
*
Seems like digital banking gives better rates than traditional banking doesn’t it?

But is it safe to move 💰 fr one platform to another? Is there a daily limit ?
Boomwick
post Oct 1 2024, 12:55 PM

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QUOTE(funnyTONE @ Oct 1 2024, 12:01 PM)
Genting.
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Blackjack -75%
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Roulette - 360%
Boomwick
post Oct 1 2024, 12:56 PM

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QUOTE(xing7 @ Oct 1 2024, 12:42 PM)
Ever heard of Private Trust?  smile.gif
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Like those private bond?

Later capital also hilang.. haha
poweredbydiscuz
post Oct 1 2024, 01:02 PM

 
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QUOTE(MrBaba @ Oct 1 2024, 12:01 PM)
Fun fact 3mil saving at 7% yr making 20k each month goyang kaki .
*
Math diajar cikgu pjk.
TSiGamer
post Oct 1 2024, 01:31 PM

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QUOTE(TiramisuCoffee @ Oct 1 2024, 12:53 PM)
Seems like digital banking gives better rates than traditional banking doesn’t it?

But is it safe to move 💰 fr one platform to another? Is there a daily limit ?
*
Daily limit for each bank is set by yourself, but changing those nowadays will involve "cooling off" period to deter scams.
TSiGamer
post Oct 1 2024, 01:35 PM

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QUOTE(poco loco @ Oct 1 2024, 12:33 PM)
i put 85% at 'beU' liao...pidm somemore
*
Okay, just successfully register new account, a bit of hiccup, approved fund transfer from PBB but then still pop up silly question to check authenticity even though approved through PBB APP doh.gif

Some of those question was set up so many years ago when opening PBB where got remember the exact answer sweat.gif

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