Hi and welcome to our financial tip session, we encourage you to like and subscribe to our channel for more financial tips to help you plan for your financial success. This video focuses on getting the best FD (fixed deposit rates) in Malaysia.
As a retiree or an individual who has a
considerable portion of your investment in fixed deposits, it is crucial to
understand how to maximize your yield to secure a better financial future. The
knowledge and strategies you employ can significantly impact the
returns you receive from your fixed deposit investment.
Unlock the Secret to the Best FD Rates in Malaysia 2023: 6 Key Dates For Maximum Yield
Conversely, if the MPC lowers interest rates, the yield on fixed deposits may decrease, making them less attractive.
Timing your fixed deposit investment according to the MPC meeting may be beneficial because Bank Negara's interest rate decisions can affect the yield on fixed deposits. If the MPC raises interest rates, the yield on fixed deposits may also increase, making them more attractive to investors.
There will be 3 scenarios of the interest
rate policy and 3 corresponding actions that you can take to maximize your
yield.
First, if it is believed that interest
rates will be increasing, it may be beneficial to invest only after a Bank
Negara Malaysia Monetary Policy Meeting (MPC). It is important to note,
however, that banks may not revise fixed deposit rates until a few days after
the meeting, so it is wise to research which institutions are offering the most
favorable rates.
Second, if indicators suggest that interest
rates will be decreasing, it may be advantageous to invest before the MPC
meeting in order to capture a higher rate. In a falling rate environment, it
may also be advantageous to invest in longer-term fixed deposits to secure the
best rate.
Third, in the event that interest rates
remain unchanged, it may be beneficial to shop around for the best rates
available at different financial institutions.
It is important to note that the timing of MPC
meetings may vary. In Malaysia, it is helpful to keep track of the following
key dates to maximize your fixed deposit investment:
The following are the 6 most important
dates to maximize your Fixed Deposit Investment In Malaysia.
- 18th & 19th Jan 2023 (Wednesday & Thursday)
- 8th & 9th Mar 2023 (Wednesday & Thursday)
- 2nd & 3rd May 2023 (Tuesday & Wednesday)
- 5th & 6th July 2023 (Wednesday & Thursday)
- 6th & 7th Sep 2023 (Wednesday & Thursday)
- 1st & 2nd Nov 2023 (Wednesday & Thursday)
By staying informed about these key dates
and monitoring economic indicators, you can make more informed decisions about
when to invest in fixed deposits and potentially maximize your yield.
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