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 Anyone know about foreign FD?

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Hansel
post Feb 15 2024, 09:17 PM

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QUOTE(mavistan89 @ Feb 14 2024, 09:46 AM)
What is the best conversion rate u guys get for sgd? Mine offered at 3.5875
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3.58 for SGD to MYR ?
Hansel
post Feb 16 2024, 04:45 PM

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QUOTE(mavistan89 @ Feb 16 2024, 12:38 AM)
Yes, for bank tt.  It would seem moneymatch is a better option
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I think,... your rate is for changing MYR into SGD, becos the best rate I have been getting for changing SGD to MYR is the last few weeks was 3.54++, and this rate was from CIMB Singapore...

Again,... I'll emphasize here : your rate of 3.58 is for changing MYR into SGD. Not SGD into MYR. Pls cfm, Mavis,....
Hansel
post Feb 20 2024, 11:39 AM

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QUOTE(mavistan89 @ Feb 19 2024, 12:08 AM)
See wrongly. Yes for myr to sgd. Yours 3.54 is sgd to myr.
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QUOTE(Kenon70 @ Feb 20 2024, 10:28 AM)
Do we need to pay tax for interest earned on foreign currency FD with Malaysian banks?
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Thank you, Mavis,... I was really surprised with your earlier rate. Apologies for chasing so rapidly !

Kenon,... no need to pay tax for your statement. But if you keep in foreign banks, and you remit the interest back to Msia, then there are plans by LHDN to apply tax. This is said to start in another two years' time. But things can chg,... it is not so easy to implement this.
Hansel
post Feb 29 2024, 01:08 AM

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QUOTE(Kenon70 @ Feb 20 2024, 12:40 PM)
Thanks Hansel.

But the FD foreign currency accounts that I want to open are with banks in Malaysia eg CIMB, RHB. No need to pay tax on interest?
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No need.

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