Cause Malaysians only know FD. Especially uncle and aunties. I have given up FDs a long time ago and I am not going back there.

This post has been edited by Ramjade: Jul 14 2021, 01:30 AM

SOme opinions,... if really keen on FD-level of security & safety,... do consider :-

1) Singapore Savings Bond (SSB).
2) Highest FD amt in SG could be offered by foreign banks operating in SG, eg the ICICI Bank (originated from India). No worries, your FDs are guaranteed by the MAS up to a certain amt..

Do explore such foreign banks,... don't look at the standard DBS, UOB and OCBC, Stanchart.

For us Malaysians CIMB SG is the best option. They always offer better than market FD rates in SG and the process is very easy if you have account ab CIMB MY already. Rate is 0.55% for 12 month and 0.75 for 24.

But never a good idea to put all eggs in one basket. If you are not confident with MYR, reduce your MYR exposure, but don´t bring all to Singapore.

Not just the older folks but the younger ones as well some of them

When OPR was below 5% it is the time to give up FD because of the locked up period

Unless it giving 5% pa which is not gonna happen ever in our lifetime anyway

Can consider putting in Syfe SG Cash+
or Stashaway SG Simple

Can we open account in Sg? Or can we convert our money to usd? How to do it in msia? (Not investment purpose)

All you need is a CIMB Malaysia acocunt to open CIMB sg account.

Then all you need is interactive broker to convert your SGD to USD. This blogger wrote a step by step procedure in her blog.

https://ringgitfreedom.com/banking/opening-...for-malaysians/
https://ringgitfreedom.com/investing/invest...station-global/

it's not mentioned clearly whether we need to have a SG address for FD in CIMB SG



reference: https://www.cimb.com.sg/en/personal/banking...it-account.html

Just trust us. We have applied and managed to get it. So that's that's. It's not mentioned but we are proof that Malaysians can open account.

Just go ahead and apply

If you don’t try how would you know as there hundreds if not there thousands done successfully

Now so convenient. last time i have to fly to singapore...meet their officer in Orchard Road branch...then "interrogate"by them "why u r moving ur money here??" fill this fill that, declare this, declare that..
after half day , only done.
I put minimum amount only leh.... check until like that.

Same here la. My CIMB sg only have sgd0 10 inside. Lol.
I went there by train, got rejected multiple times.

This post has been edited by Ramjade: Jul 20 2021, 02:03 AM

Myr keep on depreciating
Now 3.12
Facepalm