Just came back from SG. Now FD can get 2%

I think to put in Singapork is for Hedging purpose.

This post has been edited by c64: Jul 22 2022, 04:20 PM

got max amount though

200k or 300k

beyond that you get lower rates.

2% is too low.

Sing garmen is offering >3% pa.

SG banks are loaded with cash. They are not going to give you good rates.

Normally, MY rates are much higher than SG. First time seeing that both countries's rates at parity.

Look at the tenure for that 2% pa FD rate in SG

https://blog.moneysmart.sg/fixed-deposits/b...unts-singapore/



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CIMB SG has 2.3% FD now. I think those are board rates you mentioned. Same like here, always go for promo rates. Anyway. It is for hedging purpose. Split my portfolio, dump some money there for safekeeping in case things go the Sri Langkan way here.

Wise choice, best is to keep your $$ in a few countries around this region. Ringgit going south with corrupted politicians at the helm

What is the minimum amount and tenure for this 2.3% FD CIMB SG promo?

OTC only? Is it easy to open account there?

As per title, please limit this thread to FD rates in Malaysia only.

Singapore got 2.3% , Malaysia affin got 3.20%

If put FD in Singapore $200,000 around $640k ringgit by 2.3% , mean can get around Singapore $4600 per year around Malaysia ringgit is $14,750

But if i put $640k ringgit in Affin Bank in Malaysia by 3.20% , i can get $20,480 ringgit per year ..

From Malaysia FD to Singapore FD discussion....
Previously about some theory & local / foreign investment strategy...

LYN forummers always amazed me each time...

With various information, BUT too bad it's kinda OT already 😏

Based on your SGD$200K

last year exchange rate, average 3.08 and today's exchange rate is 3.21

u gain Rm$5000+ in interest but lose RM$26,000 in value. (one year period)

I think a little cross over is nothing to cry/complain about as long as it it related somewhat to the thread topic, in this case FD.

Plus it is a good general knowledge and a good fire starter for those interested to then later search related thread of said discussed topic, in this case SG FD.

Thank you to all who contribute, one can never get enough of informations.

This post has been edited by frozz@holic: Jul 24 2022, 01:54 PM

There are some who want info, comparison or opinion/advisability on foreign FD rates in other countries versus local FD in foreign currency for business reasons, diversification becuz lack of confidence in ringgit, trying to make money, trying to prevent loss of value of their wealth, getting ready to migrate, store and source of funding for their children foreign education etc.

For some, this is one way as they do not need to convert or bring back as ringgit, but some do and exchange rate trend and how to tackle over the continued business long term is involved.

Foreigners also ask from very short FD for shares and temporary keeping and second home for longer FD. FD business is not just confined to normal saving depositors like most people understand or use it. There are even separation between business and individual FD rates, and procedural differences.

Please ignore or delete if this is not useful or OT. If want to be a financial hub, naturally some of these issues need to be more widely known and use, otherwise there is a weak or less potential growth compared to other successful places.

This post has been edited by oldkiasu: Jul 24 2022, 05:35 PM

Really not worth it to be honest. Unless you think interest rates is going to go up to previous levels in 6 months time.

So Affin Rate is the best right now?

What is the best rate right now if we take even the hong leong investment product into account?

Comparing foreign FD rates to Malaysia FD rates is still ok IMHO, because it's still relates to Malaysian FD on one end, and is still a discussion about FD.

Like others have said, putting FD in foreign currency is a lot more about betting on FX than about the FD returns.

I have only a small amount (5 figures) in foreign FD, but also because I have various uses for the local currency there at any time, so I don't need to bring it into Malaysia.

There is dedicated Foreign currency FD topic, please post here. https://forum.lowyat.net/topic/512136/+480

Thank you.

If after 12 mths...SGD 1=RM4? That is why we call it "hedging".