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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 5 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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Genting.
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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
*
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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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
*
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
TiramisuCoffee
post Oct 1 2024, 01:36 PM

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QUOTE(iGamer @ Oct 1 2024, 01:31 PM)
Daily limit for each bank is set by yourself, but changing those nowadays will involve "cooling off" period to deter scams.
*
👍

how does cooling off deter scams tho…?
TSiGamer
post Oct 1 2024, 01:37 PM

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QUOTE(Zaryl @ Oct 1 2024, 12:53 PM)
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
*
yes as a purely saving account that can withdraw at any time it is still the best rate, so will still keep some liquid cash there but the balance will moved to eFD for better rate. "be U" from Bank Islam got promo at 4%/12 mths.
h@ksam
post Oct 1 2024, 01:38 PM

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the name Rize but the rate drop

apa machiam, anything rizing over there
TSiGamer
post Oct 1 2024, 01:38 PM

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QUOTE(TiramisuCoffee @ Oct 1 2024, 01:36 PM)
👍

how does cooling off deter scams tho…?
*
slow down the process a bit lor in case ppl account got hacked or simply fell for scam to move big money.
submergedx
post Oct 1 2024, 01:40 PM

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QUOTE(xing7 @ Oct 1 2024, 12:42 PM)
Ever heard of Private Trust?  smile.gif
*
Trust Fund... laugh.gif laugh.gif laugh.gif laugh.gif laugh.gif
TiramisuCoffee
post Oct 1 2024, 01:41 PM

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QUOTE(iGamer @ Oct 1 2024, 01:38 PM)
slow down the process a bit lor in case ppl account got hacked or simply fell for scam to move big money.
*
icon_rolleyes.gif
ju146
post Oct 1 2024, 01:43 PM

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Standard chartered has this 5% no lock down if you have million to deposit with them
TSiGamer
post Oct 1 2024, 01:44 PM

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QUOTE(ju146 @ Oct 1 2024, 01:43 PM)
Standard chartered has this 5% no lock down if you have million to deposit with them
*
cry.gif
TiramisuCoffee
post Oct 1 2024, 01:45 PM

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QUOTE(submergedx @ Oct 1 2024, 01:40 PM)
Trust Fund...  laugh.gif  laugh.gif  laugh.gif  laugh.gif  laugh.gif
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Why u laft?
poco loco
post Oct 1 2024, 01:48 PM

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QUOTE(iGamer @ Oct 1 2024, 01:35 PM)
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
*
oh ya i also tt from pbb....50k each...have to call to approve few times....
TSiGamer
post Oct 1 2024, 01:50 PM

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QUOTE(h@ksam @ Oct 1 2024, 01:38 PM)
the name Rize but the rate drop

apa machiam, anything rizing over there
*
what goes up must come down, even ggb also cannot up whole day long biggrin.gif
coconutxyz
post Oct 1 2024, 01:53 PM

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QUOTE(killdavid @ Oct 1 2024, 12:37 PM)
Move money here and there chasing 1% interest.
Got better things to do
*
h@ksam
post Oct 1 2024, 01:53 PM

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QUOTE(iGamer @ Oct 1 2024, 01:50 PM)
what goes up must come down, even ggb also cannot up whole day long biggrin.gif
*
all the GX Bankers scattering everywhere this week

still got ppl keep money in GX Bank ka
ekoh
post Oct 1 2024, 01:57 PM

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interest rate will keep going down, low interest rate period is just starting
TSiGamer
post Oct 1 2024, 01:58 PM

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QUOTE(h@ksam @ Oct 1 2024, 01:53 PM)
all the GX Bankers scattering everywhere this week

still got ppl keep money in GX Bank ka
*
long time move out cash from GX liao, no more good promo rate everyone will cabut...
coyouth
post Oct 1 2024, 02:07 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 .
*
need to get that 3mil first.
submergedx
post Oct 2 2024, 09:51 AM

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OWAI


Boost just raise their interest to 5%
TSiGamer
post Oct 2 2024, 09:58 AM

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QUOTE(submergedx @ Oct 2 2024, 09:51 AM)
OWAI
Boost just raise their interest to 5%
*
That 5% promo is only applicable for 1 month and subject to many campaign t&c. After that it's 3.6% and subject to changes.
abhipraaya
post Oct 2 2024, 10:11 AM

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The Rize app still shows 3.8%.

If the rate has changed, then they should also update the app.
TSiGamer
post Oct 2 2024, 10:15 AM

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QUOTE(abhipraaya @ Oct 2 2024, 10:11 AM)
The Rize app still shows 3.8%.

If the rate has changed, then they should also update the app.
*
I refer to their website indicated rate, the promo 3.8% is supposedly up to end of September only.
https://www.rize.com.my/
Sunshape
post Oct 2 2024, 10:17 AM

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QUOTE(killdavid @ Oct 1 2024, 12:37 PM)
Move money here and there chasing 1% interest.
Got better things to do
*
this is called kiasu.... aha rclxm9.gif

A single cents also counted!

This post has been edited by Sunshape: Oct 2 2024, 10:17 AM
billyboy
post Oct 2 2024, 10:18 AM

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QUOTE(iGamer @ Oct 2 2024, 09:58 AM)
That 5% promo is only applicable for 1 month and subject to many campaign t&c. After that it's 3.6% and subject to changes.
*
the boost 5% is complicated to obtain. got pre-conditions eg shopping at this place, spend money at that place....don't know reliable or not.....
billyboy
post Oct 2 2024, 10:18 AM

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QUOTE(Sunshape @ Oct 2 2024, 10:17 AM)
this is called kiasu.... aha rclxm9.gif

A single cents also counted!
*
you rich man....you hansum man....want good time ? thumbup.gif
TSiGamer
post Oct 2 2024, 10:20 AM

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QUOTE(Sunshape @ Oct 2 2024, 10:17 AM)
this is called kiasu.... aha rclxm9.gif

A single cents also counted!
*
If move around fund for 1 month interest of 1% probably not worth it especially for not very big sum. But ppl who don't give a shit about interest rate are probably also the ppl who let their money rot in saving account that pay 0.X% interest annually.


TSiGamer
post Oct 2 2024, 10:23 AM

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QUOTE(billyboy @ Oct 2 2024, 10:18 AM)
the boost 5% is complicated to obtain. got pre-conditions eg shopping at this place, spend money at that place....don't know reliable or not.....
*
Yup, too much hassle and if not mistaken, that promo rate is only for 1 month and also got cap limit.
Yesterday I move some to "be U" for their eFD, today I moved some to top up EPF.
soul78
post Oct 2 2024, 10:26 AM

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stop hunting for rates... and park into epf ler...
TSiGamer
post Oct 2 2024, 10:30 AM

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QUOTE(soul78 @ Oct 2 2024, 10:26 AM)
stop hunting for rates... and park into epf ler...
*
For emergency cash u can't park in EPF unless u already above 55yo tongue.gif

I did top up EPF today seeing the interest rate trend of going down. Currently adjusting the cash vs EPF placement.
billyboy
post Oct 2 2024, 10:31 AM

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QUOTE(iGamer @ Oct 2 2024, 10:23 AM)
Yup, too much hassle and if not mistaken, that promo rate is only for 1 month and also got cap limit.
Yesterday I move some to "be U" for their eFD, today I moved some to top up EPF.
*
what rate you got for 'be U' and how long ? smile.gif
TSiGamer
post Oct 2 2024, 10:38 AM

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QUOTE(billyboy @ Oct 2 2024, 10:31 AM)
what rate you got for 'be U' and how long ?  smile.gif
*
Refer to my edited first post, 4% for 12mths, other shorter period also very good rate compare to most commercial bank FD.
AthrunIJ
post Oct 2 2024, 10:42 AM

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With the advent of acc3.

EPF je la.

Since you are risk adverse

This post has been edited by AthrunIJ: Oct 2 2024, 10:43 AM
StorMx
post Oct 2 2024, 10:53 AM

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QUOTE(MrBaba @ Oct 1 2024, 12:24 PM)
Fund reit etc lo
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There are years where they are red. then next year you need to make double to get back to your 3M
MrBaba
post Oct 2 2024, 12:01 PM

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QUOTE(StorMx @ Oct 2 2024, 10:53 AM)
There are years where they are red. then next year you need to make double to get back to your 3M
*
U ma put EPF lo if u takut
smallcrab
post Oct 2 2024, 12:36 PM

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Good info this Be U digital bank

Later i try register and put Fd

Not bad la 4%
StorMx
post Oct 2 2024, 04:13 PM

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QUOTE(MrBaba @ Oct 2 2024, 12:01 PM)
U ma put EPF lo if u takut
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Narak haha rclxub.gif
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post Oct 2 2024, 04:16 PM

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buy snp500 la now usd cheap good deal yo


snimple
post Oct 2 2024, 04:18 PM

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This rize is just a savings account wei somemore kasi u 3.8% ka 3.3% ka and daily interest what u wan somemore oh

Die die wan 4% and park FD where got same

Savings is savings anytime can take out suka suka can put money in
Justin.Loong
post Oct 3 2024, 10:44 AM

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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
*
QUOTE
1. Boost Bank: 5% pa

As part of its 7th birthday, Boost is allowing users to earn 5% pa on a special savings jar until 31 October.

There is a cap of RM25,000.

Here’s how much interest you’ll earn:
• RM19.90 with RM5,000
• RM39.80 with RM10,000
• RM49.75 with RM25,000

FYI, Boost Bank is NOT Shariah-compliant.

Although Boost Bank’s promotion is enticing, user reviews have been overwhelmingly negative.
Some customers said that there’s a withdrawal limit of RM10k.
Others are disappointed on Boost’s customer service.

2. Versa Cash: ~4.00% pa
Still one of the most user friendly and consistent cash apps.

Versa has two products that offer steady returns:
• Versa Cash: NOT Shariah-compliant but has higher returns.
• Versa Cash-i: Shariah-compliant but has lower returns.

Read more:
https://thefuturizts.beehiiv.com/p/versa-sa...rn-zero-lock-in

3. Fixed Deposits: 4.00% pa
FDs are becoming attractive again because their returns are much higher than digital banks now.

Two banks are offering 4.00% pa until 31 December: MBSB and Bank Islam.
Links:
https://thefuturizts.beehiiv.com/p/best-fix...es-monthly-2024

4. TNG GO+: 3.45% pa
Classic but never gets old.

GO+ returns have been steady at this range since November 2022.
There is a deposit limit of RM9,500 though, but you’ll still earn daily profits beyond this amount.


TSiGamer
post Oct 3 2024, 10:53 AM

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QUOTE(Justin.Loong @ Oct 3 2024, 10:44 AM)
Versa, KDI, be U Bank Islam........ all ayam put some eggs in already

Seems nothing new, I didn't bother about the Boost Bank promo, seems too much hassle for a 1mth promo rate.
Justin.Loong
post Oct 3 2024, 12:31 PM

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QUOTE(iGamer @ Oct 3 2024, 10:53 AM)
Versa, KDI, be U Bank Islam........ all ayam put some eggs in already

Seems nothing new, I didn't bother about the Boost Bank promo, seems too much hassle for a 1mth promo rate.
*
+1 with you! nod.gif

 

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