I felt very proud because I have a great amount of money in fixed deposit. This is because fixed deposit would be safer investments type but inflation rates running high, you may actually lose more value in your fixed deposit savings over time than what you actually receive back in interest. This is the main risk of investing in low interest rates investments like fixed deposit.
About 2 week ago, almost all bank in Malaysia lowered fixed deposit interest rate to 3% p.a. Are you affected by these interest rate changes? What are you planning to do? I have done some self-research and found that Bank Simpanan National is offering 3.6% p.a., which is the highest fixed deposit interest rate currently. I can see a lot of auntie & uncle go to put their hard earned money in this kind of bank during Chinese New Year.
But the thing that always makes people confused is the calculation work. To know more about this, you can go back to my previous article -> How To Calculate Bank FD Rate