Anyone know about foreign FD?
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 Feb 5 2023, 06:13 PM
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#21
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2,191 posts Joined: Feb 2012 
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Seems like Wise is the most flexible as it can receive foreign currency and send foreign currency without any forced conversions.
Downside is the foreign currency funds on hand doesn't earn any interest, so it's a good tool for moving funds around the globe. I think the whole point of this thread was how to maximize interest rates by putting it in foreign currencies or foreign banks ... |
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Feb 24 2023, 12:31 AM
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#22
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2,191 posts Joined: Feb 2012
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Apr 22 2023, 12:53 PM
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#23
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2,191 posts Joined: Feb 2012
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FD rates in Vietnam has dropped significantly after the government urged banks to support local businesses and real estate amidst a global downturn. The central bank reduced rates by 100 basis points. FD rates have dropped from above 12% to less than 8% over the past couple of months
This post has been edited by gooroojee: Apr 22 2023, 07:06 PM |
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Aug 24 2023, 07:37 PM
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#24
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2,191 posts Joined: Feb 2012
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Indian banks are offering 8.6% for FDs now.
Meanwhile Vietnamese banks have dipped below 7%. New Zealand banks offering above 6%. Lots of choices. |
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Sep 7 2023, 01:17 PM
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#25
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2,191 posts Joined: Feb 2012
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Seeking advice:
If I'm looking to invest in US markets like stocks, but would like to park unused USD funds in USD currency in one of the multi currency accounts we have in Malaysia, and let them earn interest to nett off the exchange rate losses, until an opportunity arises on one of the international brokerages we have (Rakuten, M Global, Moomoo, Ikbr, etc.) ... What's the recommended way of moving money to and from these two platforms - the MCA account in USD, and the trading platform - for minimal fees/charges? Thanks gurus. |
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Sep 7 2023, 02:09 PM
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#26
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2,191 posts Joined: Feb 2012
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QUOTE(TOS @ Sep 7 2023, 01:20 PM) Why not you just park your money in a money market fund/ETF of your brokerage account directly? This is available directly in Malaysia, e.g. IKBR?E.g. BIL ETF via IBKR.  |
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Sep 9 2023, 05:42 PM
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#27
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2,191 posts Joined: Feb 2012
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QUOTE(TOS @ Sep 7 2023, 01:20 PM) Why not you just park your money in a money market fund/ETF of your brokerage account directly? What's the return on these US based MMF and ETFs? Which have you been holding if you don't mind me asking?E.g. BIL ETF via IBKR. |
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Sep 11 2023, 03:31 PM
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#28
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QUOTE(TOS @ Sep 9 2023, 05:59 PM) About 5% p.a, similar to current risk-free rate. thanks. in the end i went with Moomoo as they gave me a free 30-day 5% yield coupon (meaning whatever funds i subscribed to will enjoy an extra 5% p.a. yield for a month, and if my fund gave a 4% p.a. yield for the next month, my total return would be 9%. sounds like a lot but actually the it's just a few dollars...The most popular and liquid one is BIL ETF (ticker symbol is BIL) and that is the one I am holding. https://www.ssga.com/us/en/intermediary/etf...-t-bill-etf-bil That said, BIL ETF's distribution is subject to 30% dividend/distribution WHT (which, depending on your broker, will be refunded close to end of year), so majority of my USD sits in uninsured FD with DBS Singapore, rates are about 5% as well, not too far off: https://www.dbs.com.sg/personal/rates-onlin...d-deposits.page If your purchase amount is large, can also consider buying short-term US T-bills directly from say, IBKR (commission is 5 USD minimum, so you will need a large purchase amount to justify the fees). https://www.interactivebrokers.com/en/prici...nds.php?re=amer TOS liked this post
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Sep 15 2023, 04:15 PM
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#29
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2,191 posts Joined: Feb 2012
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QUOTE(TOS @ Sep 15 2023, 03:51 PM) No, GXS will match the interest paid, effectively doubling the rate to 5.36% p.a. for those under 40k SGD. good rate. hope for the same in Malaysia!But for selected users only, I think it's by invitation. |
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Oct 25 2023, 09:13 AM
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#30
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2,191 posts Joined: Feb 2012
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QUOTE(dwRK @ Oct 24 2023, 10:00 PM) thank... will take a look tomorrow when i have my pc back with spreadsheets... waifu takes over at night for her k drama... lol Same thing as Versa, the rebates come in later to match their 4.3%.been thinking... they do give you 3.5% as shown in their promo... but because of the offset/delayed payments, its not really compounding at 3.5%... i guess that is your problem with the promo... creative accounting by cimb sg...  Same thing as UOB deposit promos, the promo interest payout in after 3 months of campaign end... |
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