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 Priority Banking, Everything about Priority Banking

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cfkoon
post Jul 30 2018, 05:21 PM

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QUOTE(drbone @ Jul 4 2018, 09:22 PM)
Guys, for a 7 digits investment which is maturing soon, what options do you think there are other than putting the money into FDs, UTs, Bonds, stock market, EPF, ASNB?
Putting into PMMMF temporarily until a proper decision is made within the next week.
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Just got into Affin Bank's MTN note at 5.3% YTM (coupon 5.7%) perpetual bond last week.

Real hot bond, invested 500k into it. Would have gotten more but others funds locked up.


cfkoon
post Aug 8 2018, 11:17 PM

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QUOTE(touristking @ Aug 4 2018, 11:24 AM)
Sound interesting.

May I ask, what is MTN bond? Any link on info?
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Medium Term Note
cfkoon
post Aug 10 2018, 01:52 PM

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QUOTE(touristking @ Aug 9 2018, 05:00 PM)
Thanks. Any good one in particular to study on?
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Actually ntg much to study on, just understand the risk rating of each bond against your appetite, plus the return that you get for each bond. With respect to yr risk appetite, thats up to each preference as there are many corporates in Malaysia , some large ones but you havent heard before and some more popular ones.

There are good names like CIMB, Ecoworld, MahSing, Sarawak Energy etc to be considered.
cfkoon
post Oct 22 2018, 04:19 PM

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QUOTE(Showtime747 @ Oct 22 2018, 11:49 AM)
So I think there are more "hidden millionaires" than the numbers estimated in the report. For those who have >US$5m, don't be too happy to be 1 of the only 7000 in Malaysia. There must be more than 7000  biggrin.gif  The survey is flawed and Credit Suisse acknowledge it. I will treat the report as a "syok sendiri" and leisure read...
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I'm sure lots of people will be happy to be >$US5m , regardless whether you are only 1 of 7000 or 1 of 70000. nod.gif


cfkoon
post Oct 23 2018, 10:49 AM

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QUOTE(Showtime747 @ Oct 22 2018, 05:57 PM)
Disagree. Rich people’s mentality is different.

Why rich people buy expensive watch, car, golf club, branded bags ? Are these items 10-20 times better than other cheaper items ? No, it’s because they are rare and not many people can afford. The feeling “one up” over you

Why we have this thread and many people here proudly boast about free car park, coffee and dedicated leng lui RM (instead of sharing the bank products with good returns) ? Because not many people can become priority bank customers, but they can. Again, the feeling of “one up” over you

The feeling of elite and special is what they after. If you tell them, they will definitely feel happier with 1/7000 compare to 1/70000
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Not disagreeing on how rich people prefer elite status and such, because that is truly the fact.

What I mean that 1/7000 or 1/70000 doesnt make a difference, because the number is still small compared to the total number of people in the country. if you say you are 1/700k people , maybe by then you feel everyone is a "priority" banker and it loses its lust (which is the case right now).

Priority banking is nonsense anyway, every john, dick and harry is a priority banker, even getting a random housing loan can get you PB status (stupid move). with >US5m, can easily become a Private Banker.
cfkoon
post Oct 23 2018, 10:54 AM

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QUOTE(frostfrench @ Oct 23 2018, 08:44 AM)
Recently I have inherited RM 500K, and like to be part of priority bank customers and like to park some money in FD and have the PB benefits.

Which bank would u go to?  I was thinking CIMB, as they have 4.5% FD interest.

Thanks
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Go scout around and see which RM treats you the best. What you want from yr RM is service and support. But with 500k, don't think it will make a difference, the most benefit you get is being able to go to the green lane at counter.

If you just looking for FD rate, just go with the highest one.

 

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