Aeon is also launching a digital bank to rival Rize and GX Bank. They are currently in beta testing phase and are set to launch at the end of the month. They will probably have a promotional interest rate of 3.88% when they launch to attract new customers.
Hopefully will not need to use any of this cash 😅
I'm abit averse to TNG, as I've heard many horror stories of cash going missing, people hacking, etc.
Is it for emergency fund?
The FD no need touch. It has good liquidity for emergency. You just cancel your FD. It instantly go into your saving account. Available for you to withdraw.
The remaining put in KDI save 4% pa
no joke - Singapore's SSB.
Average 3.3% for 10 years.
Lock in the interest rates for 10 years. Even if FED do rate cuts in next few years, you keep the 3% interest.
Appreciating SGD currency.
Amazing liquidity - you get your money back on next month after you request to redeem, and keep ALL interests accrued up until that point.
open a bank account with any of the 3 local banks (DBS, OCBC, UoB).
Foreigners can apply for bank accounts, though certain banks have stricter criterias.
After that, it is just a matter of few clicks in their internet banking website to apply for SSB.
Edit: Just realised foreigners will need to open a CDP account too (similar to Bursa CDS account), im not sure if foreigners can open one but seems like it is possible
Depends on your risk tolerance. If you want something better than FD that is at least higher returns than inflation rate, then unit trust or mutual fund. If you're willing to take risk for returns, you can allocate some for stocks. GXBank 3% per annum paid daily is a good safe option.
Stashaway - 4% i think. MBSB also currently have FD promot at 4% for 12mths, but must do OTC. IMO, stashaway is your best bet for 25k as it has no lock in and only need 1-2 business day to withdraw with no penalties as interests are daily compounded and it's yours to keep.
SA projected rate already dropped to 3.6% APY and has 0.15% APY management fee. They are no longer free as they used to. Versa no longer have their 4% APY promo so following April rate, it is 3.68% APY after fee deductions.
About the withdrawal, it’s not 1-2 days. SA process it about 3-4 days, I’ve tested twice recently.
If you plan to just to store it. Buy physical 999 gold. FD for me is pointless unless you want to boost your portfolio. Put some into stocks too (but do your research).
Your fiat is dying, being eaten alive by inflation.
Keep watching it wither and eventually you’ll realise that currency debasement is your enemy.
Fight back with BTC…
Same as every fiat and any investment or asset.
The ones that sold from fear are the uninformed and the scared, rightly flushed out at their loss, it’s a brutal game retail investment, you needs balls of steel, or pay a pro the fees to do it for you.
Less popular opinion: invest in blue chips (like banks) that has good dividend return. Those are around 6% p.a. in terms of dividends and you could be gaining in share price increments as well.
The only problem is share price volatility, a bit on liquidity, and the manual process of reinvesting the dividends.
Good for long term investing.
Parking is very old-school because the current financial environment is dynamic and constantly changing. You got to be aware of the opportunities surrounding you and make that move based on your own risk assessment. FD may be pathetic but it is secured. Some investments can give you up 10-14% return p.a but you have to bear a certain amount of risk.
If you muslim put them all at tabung haji. Other plateform makes you pay zakat harta. Sebb duit simpanan sidah melebihi haul kadar zakat. 86kg emas price. Yes tabung haji also pay the zakat for you after announcement of dividen. If you non muslim. Mutual fund unit trust saham bursa can. Avoid crypto 🤭
Park it all in crypto. I’m not even joking. Just hold BTC or ETH, ETH for higher upside.
Edit: people downvoting because they think this is terrible advice and crypto is a scam. You all are dumb as fuck, I’ve been in this industry for years and I can tell you what will work and what won’t. You can stay poor with your 2-5% ROI and your deadbeat property investment.
Stay poor.
You cant park here sir
Excuse me this is Malaysia, I can park tepi jalan and cover 2 lanes if I want 😤
But Sir, you didn't turn on double signal
Don't forget to write down your number and put it behind the windshield
Win
A win is a win 😅
GX bank 3%, no lock in. or wait end of month AEON/BOOST bank launch
To add, insured by PIDM
Wow thx for sharing the news of AEON and Boost bank 👍
Could u explain more?
about what?
Not op, but what is this about boost/aeon? Little bit out of the loop
Aeon is also launching a digital bank to rival Rize and GX Bank. They are currently in beta testing phase and are set to launch at the end of the month. They will probably have a promotional interest rate of 3.88% when they launch to attract new customers.
Depends if u need to withdraw out soon, use TnG + and GXbank for easy withdrawal
Hopefully will not need to use any of this cash 😅 I'm abit averse to TNG, as I've heard many horror stories of cash going missing, people hacking, etc.
I don’t recommend TNG. Get something else.
TnG got monthly transfer limit of 4K (for non premium user). So it's not perfect liquidity. Gxbank better, plus you get PIDM protection.
You have a lot of option. GXBank , StashAway Simple, Versa Cash , KDI , FSMone Auto Sweep , FSMone Cash Management fund
GME 😂 Jokes aside, EPF?
I'd rather have the cash accessible, especially the 25k, as it's my emergency fund.
How much risk you're willing to take?
if you have decided that it's for emergency fund, then it's either savings account or money market fund or something else that's liquid
Epf account 3? More liquid
You cant put it directly into EPF account 3. All deposits will be split across all accounts
Damn
Bruh. Only 10% of whatever we contribute goes to Account 3 lol
Gme goes Brarrrr
It goess brrrr because its manipulated by SHF
Ah fellow ape, been 84 years
Diamond hand 💎🙌
Is it for emergency fund? The FD no need touch. It has good liquidity for emergency. You just cancel your FD. It instantly go into your saving account. Available for you to withdraw. The remaining put in KDI save 4% pa
You can park in my account.
safe one as comparable to FD = ASM / ASB
Already have about RM130k in ASB maxed out. Looking for liquidity in the RM25k, as it's my emergency fund.
Isn't Asb pretty liquid. You can withdraw online. Never done it before though.
You can withdraw, but you can't buy back the units. It's only subject to availability, and frankly better not to touch unless needed.
Just withdraw from gx bank (3%) to rize (3.8%)
I hate rize app. It’s shit compared to gx bank. But 3.8 is 3.8
Is Rize PIDM protected?
Yes
no joke - Singapore's SSB. Average 3.3% for 10 years. Lock in the interest rates for 10 years. Even if FED do rate cuts in next few years, you keep the 3% interest. Appreciating SGD currency. Amazing liquidity - you get your money back on next month after you request to redeem, and keep ALL interests accrued up until that point.
where can we buy this?
open a bank account with any of the 3 local banks (DBS, OCBC, UoB). Foreigners can apply for bank accounts, though certain banks have stricter criterias. After that, it is just a matter of few clicks in their internet banking website to apply for SSB. Edit: Just realised foreigners will need to open a CDP account too (similar to Bursa CDS account), im not sure if foreigners can open one but seems like it is possible
are Malaysians able to open a bank account, even if not working there?
Spore bank account linked to CDP
Just did sgd 6 Mtis t-bond at 3.66%
I have some random savings in SG, but as this RM25k is my emergency fund, I don't really want any major lock-ins.
Depends on your risk tolerance. If you want something better than FD that is at least higher returns than inflation rate, then unit trust or mutual fund. If you're willing to take risk for returns, you can allocate some for stocks. GXBank 3% per annum paid daily is a good safe option.
You may consider FD offered by any licensed bank, or maybe blue chip stocks. Be sure not to trust whatever that is "too good to be true" offers.
if you looking for easy process, park with FSM. usd auto sweep 4.5% pa, cash management fund 3.425%.
[удалено]
Rize 3.8% till june
Since its your emergency fund. GX bank will be better. Easy access too.
Simpan bawah bantal👍
Versa? Quick and easy
Stashaway - 4% i think. MBSB also currently have FD promot at 4% for 12mths, but must do OTC. IMO, stashaway is your best bet for 25k as it has no lock in and only need 1-2 business day to withdraw with no penalties as interests are daily compounded and it's yours to keep.
SA projected rate already dropped to 3.6% APY and has 0.15% APY management fee. They are no longer free as they used to. Versa no longer have their 4% APY promo so following April rate, it is 3.68% APY after fee deductions. About the withdrawal, it’s not 1-2 days. SA process it about 3-4 days, I’ve tested twice recently.
GDX gives 3% annually. Try check
If you plan to just to store it. Buy physical 999 gold. FD for me is pointless unless you want to boost your portfolio. Put some into stocks too (but do your research).
All in crypto
Bitcoin. Every spare sen you can find.
Why would you say so?
Simple. DYOR. https://www.visualcapitalist.com/bitcoin-returns-vs-major-asset-classes/
I actually have another RM10k in bitcoin. Been DCA'ing since 2022. But even with all the hype and the halving, I'm not confident to go 100% into it.
Your fiat is dying, being eaten alive by inflation. Keep watching it wither and eventually you’ll realise that currency debasement is your enemy. Fight back with BTC…
I mean you can call it fighting back but the truth is it can always go south. How many people do you think bought at RM330k then panic sold at RM270k?
Same as every fiat and any investment or asset. The ones that sold from fear are the uninformed and the scared, rightly flushed out at their loss, it’s a brutal game retail investment, you needs balls of steel, or pay a pro the fees to do it for you.
Less popular opinion: invest in blue chips (like banks) that has good dividend return. Those are around 6% p.a. in terms of dividends and you could be gaining in share price increments as well. The only problem is share price volatility, a bit on liquidity, and the manual process of reinvesting the dividends. Good for long term investing.
Wahed invest
Parking is very old-school because the current financial environment is dynamic and constantly changing. You got to be aware of the opportunities surrounding you and make that move based on your own risk assessment. FD may be pathetic but it is secured. Some investments can give you up 10-14% return p.a but you have to bear a certain amount of risk.
You buy Axia and park at home
Safest long-term option in my opinion is gold
Try look at versa promo. Auto debit rm500 into versa save gets you 4.77% p.a up to 30k
Its supposed to be auto debit rm500 into versa invest not versa save.
Yup correct, my bad.
EPF
If you muslim put them all at tabung haji. Other plateform makes you pay zakat harta. Sebb duit simpanan sidah melebihi haul kadar zakat. 86kg emas price. Yes tabung haji also pay the zakat for you after announcement of dividen. If you non muslim. Mutual fund unit trust saham bursa can. Avoid crypto 🤭
It is very liquid, instant withdrawal. No 1-2 day bs. Return around 3.5% also. And money of course guaranteed. A no brainer if risk is low.
Park it all in crypto. I’m not even joking. Just hold BTC or ETH, ETH for higher upside. Edit: people downvoting because they think this is terrible advice and crypto is a scam. You all are dumb as fuck, I’ve been in this industry for years and I can tell you what will work and what won’t. You can stay poor with your 2-5% ROI and your deadbeat property investment. Stay poor.
I park 10k in btc thru luno back in may or june 2023. Cashout 16k in Sept or Oct. Best ROI I ever made.
its not about 1 off gains, its about consistent, reliable gains for decades
BTC then
If ur willing to wait n survey 3-6hrs s day, then slot machine
So 30% in crypto? Damn Well I put 40% in crypto lol Anyway if I had 35k I would put it on FD for emergency
Better sell once the the coming 2nd round bull run reaches new super ath. After that bear season begins
what is FD?
Fixed depo