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Safe Or Not?

This evening I was told by my friend that a well established bank is offering 6.8% per annum on deposits from RM65,000.00 onwards.

I also got to know that this amount of money cannot be taken out for at least seven years. 7 years, no joke, cannot touch the money, otherwise you will lose some of the capital... but if left untouched, you will receive the dividend returns of 6.8% every quarterly. They will credit the money into your savings account.

Good deal or not? Any financial consultant to advise over here? Secured or not if put for 7 years in this type of proposal or not?

Comments

  1. Sorry can't advice on this, as I'm not that experienced in money matters.

    But imho, isn't amanah saham nasional /wawasan/etc better? Just wait for them to open up, then dump in the excess cash.

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  2. Sorry, not in the position to give advice.
    This is a difficult decision to make because 7 years is rather long. The longer the riskier...

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  3. its somethibg like bon la. Those bon msia and etc. hmm...normal is 5 yrs wor. Howcome this one so long punya. If u got the extra money then ok la...

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  4. 7 years is like forever wor! But if you have that extra money that you wont be needing for 7 years.. then ok lor.. but i wont go for that..

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  5. make sure the money really2 can withdraw after 7 years.. I have a fren investing such investment from a bank... when the time comes, it's like very hard for him to withdraw the money.. anyway.. not to scared you.. just make sure with all the agreements.. ^_^

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  6. Not good idea at all....7 years? I can use another 3 years and invest in stock market to get 100%!

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  7. More of a safe investment if u have $$$ to spare for a long term.

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  8. Horrible deal!!! That's a huge chunk of your life! The only reason to do it is if it's money you know you are never going to need. What if you need a new car, or some kind of disaster and you need money? This might be good if you have lots of money elsewhere.

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  9. Sound good if you have xtra $$ to invest on it...

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  10. Deposits? Not the usual fixed deposits, I'm sure.

    One of those trust funds - they say if it's with a bank, no problem. The only thing is if their investments do not make money, you may not get any interest. But at least, you will get your principal sum back.

    I don't have any money in this...so scared, don't dare to take risks - that's why will never be rich!

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  11. i won't mind if it's fixed deposit for a year. still better than savings account.

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  12. 6.8% only! Not worth it! Now the share market went down, better buy some good stock to keep. You can cash out whenever you like rather than being locked up for 7 years!

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  13. My God lock up for 7 years summore? 5 years also consider very long d...

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  14. i would. if i have a money tree. ahaha

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  15. i'm no financial expert..it really depends whether you are willing to have that amount of money untouched for 7 years..that's a very good interest..guaranteed return?

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  16. NEVER EVER BELIEVE ANY bank(s) or any financial companies. Just believe my words. They are doing gimmick business. So long don be hungry for such luring words. They can come out in other ways after 7 years!

    How many bankers are sincere in their words?

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