I don't know about Pbbank case, but others bank I deal with has no problem of renewable either 1 month or 1 year, you can put there 10 or forever years without changing back until you wish to.

If any bank force the customers to change back after mature then no good at all.

This post has been edited by cherroy: Jan 25 2008, 02:05 PM

thanks for the reply. i think the '*' really implies something that we should be clear before dumping money into it. i didn't know we Malaysian here can open FD in foreign bank, is it possible?

You can't open at Malaysia with foreign based banks like Barclays or ANZ bank in Australia, you need to go to overseas to open one.

This post has been edited by cherroy: Jan 25 2008, 02:10 PM

FOREIGN CURRENCY FIXED DEPOSIT from CIMB Bank

TURBOCHARGE YOUR MONEY.

1 day fixed deposit - the fastest fixed deposit ever. Get your returns within 1 day!

1. Start with a deposit of as low as RM10,000 equivalent.
2. Invest in foreign fixed deposits and earn interest as high as 8.60%p.a.*
3. Terms and conditions apply.

For more information, call 1 300 880 900 or visit www.cimbbank.com.my. Bank on us to see beyond.

http://www.cimbbank.com.my/pdf/191207_Fina...Star37x26.1.pdf

we cant do online thru cimb..we need to go to bank and do fd thing..unlike local fd can staright go thru online...

Well, other banks also the same I guess for foreign FD.

i had invested RM 100,000 in PB's NZ Foreign FD? so how can i check whether i earn more or less base on the exchange rate?

Your interest rate is fixed, so what will affect your return (net gain/loss) is the exchange rate of RM/NZD only when the FD matured. (You can also withdraw in half way of the FD tenure, but you will not be paid the interest).

So if you opt to not exchange back the NZD to RM when it matured, you can auto-renew it. So whatever exchange gain/loss still remain as paper gain/loss while still receiving the interest of the FD.

This post has been edited by cherroy: Jan 28 2008, 02:15 PM

Any expert in Foreign Currency Fixed Deposit?

i observe the rates, it was pretty good. and the CIMB can give you the daily rates. Daily might give your less money but it is more flexible.

And, i think, this Foreign Currency Fixed Deposit will not lost your capital and you can cancel the services if anything bad happen.

Can anyone enlighten me?

or, show me some related link?

must be careful with conversion only

cause u always buy the currency at a higher price compared to when you sell it, need to know how to cheong at the correct time

CIMB worker told me not o buy. as his friend bought rm20k and they already lost rm3k for the currency rate

foreign curency FD is long/medium term investment......if you "trade" foreign currency with bank of course u lose

lost? i thought Foreign Currency Fixed Deposit is very hit now. how come, it can make a lost?

if buy the aus or NZ, the rate should be very stable, right?

The slippage between the buying and selling rate is about 2.5%-3%. When you place this FCFD short term (<6 months), you currency has to appreciate for you to make money. Otherwise you will lose. If the FD rate is 7-9% and you place 6 months (3.5%-4.5% for 1/2 year), and assuming the currency is about the same as when you bought it, then you make a little.

Worth it? I don't think so.

It is not a place for one to speculate but to diversify your asset.

the CIMB worker tell me not to buy too. He says, it is just advertisement, in fact, you wouldn't much earning

IC. ok. got it. tks a ot

lol...weird....how come CIMB own staff spoil their own company business

Maybe the just don't like the work hassle for the need to filing up forms and also need to contact the other side.
And his advice is also make it a point whereby you don't make much also.

This post has been edited by dplaya: Apr 16 2008, 09:38 AM

If a bank of company has too many of those kind of employee, then I would fear about the company future.