theologybuff
New member
@orthodoxokie Quite frankly I havent touched anything below 5% for a while, and this includes FDs. Anything pops up in terms of options and the % is below 5%, I tune it out because I'm in the phase of life where if I'm investing its for retirement. And I'm talking about stuff that are viable options.
On the point of Touch N go, I looked into the "TnC" and this line stood out to me: "Any losses will not be covered by the Capital Market Compensation Fund". IIRC, FDs are guaranteed (hence, zero risks). Now the question here is whether or not you are comfortable with that risk for a 0.7% PA return. I'd advice you to read up more on the information provided, such as risk profile of the fund (Principle e-Cash) and so forth.
https://www.principal.com.my/en/ecfa
Which brings us to the conditions to answer your question really. Are you planning to spend the money sooner or later? If yes to sooner (less than 5 years), then FD is fine. IF later (more than 5 years, less than 15 years), then looking into ASB or similar options is cool too. If you dont mind the money disappearing for now and coming back to you in the form of at least RM57900 when you're 55 years of age, then throw it into EPF and forget it exists, because you're never seeing it until retirement (you can take money out from EPF to fund your first home later I suppose). Again, my prediction is that you'll be wanting to use the money within the next 5 years, and odds of this increases as you approach 30. Reasons include purchase of new car, new home, education fund, unexpected medical expenses, marriage, etc.
On the point of Touch N go, I looked into the "TnC" and this line stood out to me: "Any losses will not be covered by the Capital Market Compensation Fund". IIRC, FDs are guaranteed (hence, zero risks). Now the question here is whether or not you are comfortable with that risk for a 0.7% PA return. I'd advice you to read up more on the information provided, such as risk profile of the fund (Principle e-Cash) and so forth.
https://www.principal.com.my/en/ecfa
Which brings us to the conditions to answer your question really. Are you planning to spend the money sooner or later? If yes to sooner (less than 5 years), then FD is fine. IF later (more than 5 years, less than 15 years), then looking into ASB or similar options is cool too. If you dont mind the money disappearing for now and coming back to you in the form of at least RM57900 when you're 55 years of age, then throw it into EPF and forget it exists, because you're never seeing it until retirement (you can take money out from EPF to fund your first home later I suppose). Again, my prediction is that you'll be wanting to use the money within the next 5 years, and odds of this increases as you approach 30. Reasons include purchase of new car, new home, education fund, unexpected medical expenses, marriage, etc.
