Malaysia’s Financial Blogger | Financial Freedom Ideas | imDavidLee.Com

CIMB Clicks eFD Another New Online FD

I’ve noticed that CIMB Clicks has a new feature called eFixed Deposit. It seems that it allows you to open a FD account through online.

But do you all know the difference between its and Maybank eFD feature?

It’s quite similar to Maybank eFD. The only difference that I found is:

1. Auto renewal upon maturity date.

2. Cannot uplift on the maturity date. (I’m not sure about it actually because somebody said that you can do it but just lost interest)

3. No TAC required.

You can do eFD at ATM also but personally suggest that doing it online will be more comfortable with the only condition that you need to have at least 1 banking account that is linked to an ATM card in order to access Internet banking services.

CIMB eFD and Maybank eFD, which one you prefer?

I prefer Maybank2U eFD since it has the option for non-auto or auto renewal. I prefer the non-auto renewal and upon maturity date, the amount in FD account will be credited back to your saving account but with no cert provided.

Besides, Maybank2U eFD improves the processing duration to almost real time and more organized as compared to previous. The security still remains the same.

Furthermore, it is also more convenient for me since my salary bank into there. Thus, it’s depends on yourself actually.

But, the one thing I observed is the rate offered by CIMB and Maybank. If you want keep your money in FD for short-term period, then the rate offered by CIMB is slightly higher for 1 month and 2 months tenure. (If not mistaken, the rate should be 3.2% to 3.25%). But should be relatively standard at 3.7 for 1-year tenure.

In general, local banks FD rates are more or less similar in offering. May be slightly difference of between 0.1-0.3% p.a.

There is no maximum amount for eFD but minimum amount of RM1000 for 2 months and above & RM5000 for 1 month.

Just my2cents, in future, I will try to do FD placement through online since it requires less effort and without any charges. Besides, you also can do transaction after banking hour.

Car Insurance Rates

As everybody known, insurance is the most important coverage for a car driver. People buy insurance for their own car is to minimize their financial losses, which may involves a lots of cost for their damage or cover any damage that may cause to other people.

I noticed that people always pay too much on car insurance nowadays. There is lots of competition between insurance companies so they may try to think out some creative way to attract people with their best car insurance rates. Thus, you need to be smarter and have to do your own survey and do some pricing analysis from there in order to get the best deals.

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Different Judgement For Your Future?

I always worried that whether when is the most suitable time for me to give out opportunity to some ladies who’re really having interest on me. Although I have known im not young at this moment and sometimes really makes me headache when need to find a suitable life partner.

Before that, I have make lots of mistake and hopefully if come another new chance for me, im sure I won’t let the golden opportunity goes. May be this is nothing for people who have almost same age as me and may be some of them have achieved what they actually desire in their life. Some of them may get married at young age and some of them have their dream car. However, I insist to do what im thinking is good for me to do currently. I dunno whether the decision that I have made is correct or not. Where should I go to ask? Jesus? Im not kristian, then how?

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Mobile Wallet Another New Trend In Malaysia !!

I’m sure lots of people have heard about Mobile Money, which is card less credit card, right? But have you heard about Mobile Wallet. Yes!!! It’s another new kind of trend that you can use Phone as a Wallet and no need carry so much cash together. You just SMS when doing any transaction and money will deduct from there. It is approved by BNM at the same time.

I don’t know the background of the company. Even they are approved by BNM on the project but that does not mean that the BNM knows what they are doing. Initially the company might propose up the plan and approved by the BNM on the Mobile Wallet project. The company may use this approval and draws up another strategy plan to run MLM.

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Easy Payday

In this new era, we have a lot of choices for us to make our decision. As you known, for an adult, normally they will have lots of plan for their future. For instance, they may plan to buy a dream home, luxurious car, and plan for their child’s education.

However, from those of them, only certain number of the people knows to plan on their financial wisely. For me, the only important factor that we should consider before applying any advance cash loan is the interest rate due to this can determine whether the offer is favorable or not.

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Why Fund Company Keep On Introducing New Funds ?

I just bought PCSF (Public China Select Fund) priced 0.21, which is launched middle of 2007. From the historical analysis, I found that it performs quite well and growth potentially to 0.29. So, It has quite a track record previously. Now, it’s a right time for me to invest since now is the market downtime.

Overall, PCSF is the best performing fund at the moment, and more upside as Olympics is near.

Why fund company keep on introducing new funds?

New funds are introduced to keep investors interested. With the ever growing opportunities, fund managers have to get in the new funds to suit for the situation. It’s also a way to keep the funds recycled, while keeping costs low to target on new investors. While new funds are released, the charges are discounted during the promotion period.

In addition, when the fund managers see their existing funds are doing great, they’ll launch a fund that mimics it. Mostly the new fund with new strategies will be launched. Just like people saw fuel price hike then Unit Trust company will come out some sort of fund that invest in oil.

Difference Between Old Fund Vs New Fund

Some people like to invest old fund since they can see the track record. For me, I will look at new funds because most of the new funds are investing in the most recent hot portfolio while old funds can’t really change their scope anymore.

Some people feel that the old fund couldn’t rise up fast since it is nearly hit highest peak. For me, old fund doesn’t mean it won’t go up, performance wise all depend on their portfolio aka stocks they are holding.

New funds or Old funds actually are the same. Just new funds NAV is lower.