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Tuesday, 31 December 2013

Yay Or Nay?

Last week, we took a day's leave to open a junior savings account for the boys. Previously, we opened a junior savings account for Kenzie boy in CRAP Bank, out of convenience as this CRAP bank is very near to my place, and I also have a saving's account in this CRAP Bank. So when I do (and check) my transactions online, I can also monitor the money in Kenzie boy's account, that was why we opened a junior saving's account in this CRAP Bank previously.

But what did not occur to my mind that time was the interest rate. I did not do my research. I did not check. I did not ask around. I was not aware. 

One fine day, while I was checking my salary online, a colleague accidentally passed by my place and saw Kenzie boy's junior savings account (because his account will be under my own savings account). He was surprised I opened a junior savings account with this CRAP Bank.  He then explained everything and talked me into opening another junior savings account with another bank, with better benefits and interest rates. The interest for this bank is equivalent to FD's interest rate, payable monthly (pro-rated) and withdrawal once a month is permitted.

So that day, we withdrew the money from this CRAP Bank, and went straight to the other bank to open a junior savings account for the boys. Interest rate would be payable monthly on the 15th (pro-rated) and we can withdraw from the bank once a month. Of course we have no intention to withdraw any money, and it is meant to be kept in the bank until the boys turn 18. After they turn 18, the junior savings account will be automatically converted to normal savings account, with normal interest. 

I am thinking, is there anyone who makes use of their children's junior account to put their savings? The interest rate is equivalent to FD's, plus you can withdraw every month. Planning to transfer my monthly savings using one of the boy's account.  

Is it a yay or nay?

*To some, I may look like a jakun who doesn't know anything. I admit that. But seriously, should my colleague had not peeped at my desktop the other day and saw Kenzie boy's junior account in my CRAP Bank, I will NEVER know (and will never be bothered to find out) about top banks which offer good interest rates for junior savings accounts. 

Ok, enough about banks and junior savings account. After we had done our banking (which already took half of the day with the waiting and all), we went to have our lunch at Sakae Sushi. I had the chicken teriyaki ramen, and the hubs had beef ramen.



We also ordered a (I think) salmon cheese maki and there were also a few plates of sushi which we took from the conveyor. Overall, we enjoyed our meal very much and we ate in peace without the kids around *wink*  


Just for my record, for dinner that day, we were too full to eat anything else, but I still whipped up something because Kenzie boy still needs to eat his rice (with something gravy) for dinner. I dug my fridge and saw some frozen dory and sausages. So I made: Cream sauce dory with sausages, onions and bell peppers.
*I know dory is not something good, but I still buy and cook it occasionally. Don't ask why.  


I used evaporated milk to make the sauce instead of whipping cream because it is cheaper. Straight forward and end of story. 

23 comments:

  1. hahaha, really lucky lah you, must thank your colleague for being so "kay poh" to peep your screen.. actually not right to peep lah, furthermore you were doing online banking and that's absolutely P&C.. but then since he actually helped you to switch to a better junior bank account, then forgive him lah..

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  2. errr, no comment on this junior account thing lah.. but then if they give better interest and benefits then why not?? so now you are having the account from the CRAP bank to the BEST bank?? muahahaha, i wonder how did the staff respond when you told him/her that you want to close account??

    p/s: i asked because i want to know how rich you are mah.. if the staff just acuh tak acuh then means not much money there.. but if the staff looked a bit reluctant, then means you are a big customer to them~~ :p

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    Replies
    1. Aiyoh, kei chin kau only la.. Not a big customer, kekeke.. When I asked to withdraw, immediately can be done liao lor.. Nothing big deal to them, hehehe..

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  3. aiyoh, you both go "pak toh" two people word ah?? i thought you are bringing the kids along since you were opening accounts for them mah, no need to kids to be present one ah?? good also lah, at least can have more time hanging around, if not sure someone playing tantrum and then someone cannot take it and shouted "GO HOME"~~ :D

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    Replies
    1. The kids doesn't need to be present when opening junior account.. Only the parents (or the mum enuff already)..

      Ya la, you already know who will be a nuisance if we bring him out.. You know la, banking needs a long time, dilly dally and all, sometimes takes half a day.. If bring mai the kids, wah, I surrender lor..

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  4. that was your lunch at Sakae Sushi ah?? and can last till dinner also not hungry?? wah, you small eater ah?? cannot be lah, i don't believe that, you always say you can eat this and eat that a lot one woh.. but hor, i want to ask, why dory is not good ah?? not good in what sense and not good for what??

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    Replies
    1. Dory is not a good fish.. My mum told me they "bleached" the dory to make it look white, thus, it has a lot of chemicals.. Dory is somewhat considered "a cheapo fish" and originally, it's colour is darker and grayish.. So they "bleached" it to make it look white, thus, sellable in hypermarkets lor..

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  5. Need to really think and invest well for our kids. I also open junior accounts formy kids and same time put some money in ASM. Interest is higher.

    Happy new year to you.

    Btw could you email me your mailing address for my record? Thanks

    roliew@yahoo.com

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    Replies
    1. I will hop over to your blog to email you afterwards :)
      Happy New Year to you too..

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  6. I am unable to advise you much about this junior accounts but I could guess this CRAP Bank with the word "C". I also learnt a mistake for taking housing loan from a H#@ Bank for many years but the repayment was so little due to their high interest rates charged. I was a fool to hear some idiot telling me all banks charged same rates due to Bank Negara's control. Same case, a samaritan explained to me about the better rates and easier flexi payments offered by this CRAP Bank which was better. Oh boy, I switched over a bit late!

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    Replies
    1. Wah, you really clever boy wor.. Yes, it's the C bank lor.. I regretted opening a junior account with this bank lastime.. But can't blame anyone lor, I sendiri didn't do any research ma..

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  7. I love to eat at Sakae Sushi too even though they are slightly more expensive than their competitor. Their menu using touch screens to order is so easy and quick!

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    1. Ya ya, the menu uses a touch screen to control.. wakakaka.. I had fun pressing and ordering from the touch screen until hubby said "wah, u press press press, "tai ji lai" press oohhh"..

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  8. I was being advised that we should invest in a foreign bank being operated in our country and save our money in their currency instead as our currency will keep falling until worthless. Many rich Thais have shipped out their cash to foreign banks this year. Why????

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  9. Yes y not? . Many are putting it in junior account or senior citizens account for higher interest

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  10. Before I sign off...hapy 2014 to you and your family

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  11. Hi Louiz! Happy New Year to you and your family! I admit that I don't pay attention to the bank's offers and rates of interest etc. But it is good to be aware to take advantage of the higher interest rate. No harm using Kenzie's account :)

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  12. appreciate if u could share the name of bank w me so i can the same for my kids

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    Replies
    1. Hi ykristen,
      Thank you for dropping by my humble blog.

      This was what I knew from my colleagues who are also parents:
      1) Hong Leong offers the best interest rate for both junior saving's account and also FD.
      2) But many still opt for Maybank (Yippee) due to the many kiosk and their own conveniences.
      3) The bank I chose was AmBank (AmGenius).

      You may compare their rates before opening the account. I would still suggest Hong Leong, but due to convenience, I opted for AmBank.

      Happy comparing :)

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