Oct 17 2008, 11:25 PM
QUOTE(netcrawler @ Jun 27 2008, 09:25 AM)
Above 9% is considered high if you compare to other fixed deposits.
The only concern here is would the bank convert the currency back to
MYR before doing a renewal. If they do convert, then we lose a lot in exchange rate. Otherwise, we may continue to roll over the FC deposite till the good time before withdrawal.
hi,The only concern here is would the bank convert the currency back to
MYR before doing a renewal. If they do convert, then we lose a lot in exchange rate. Otherwise, we may continue to roll over the FC deposite till the good time before withdrawal.
does anyone know whether the bank will do a convertion back to RM while renewing FCFD?
Well, if they really do that then the depositor will lose a lot of money because the FD will be converted from FC -> RM -> FC .. hehe and worse if your tenure is short, eg 1week, 2weeks etc.
I couldnt find any info on this from banks' websites. really appreciate some advice. thanks.
On the other hand, what could be the reason they allow short tenure like 1week, 2weeks? any catch in there? CIMB even allows 1day tenure.
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