Oct 4 2008, 03:20 AM
QUOTE(cyan29 @ Jan 25 2008, 10:34 AM)
Let's say you put RM10,000 for 1 year in Public Bank Foreign FD,you must take the money out after 1 year regardless of the currency fluctuation, meaning you cannot just leave the money in there and wait for a better exchange rate, they will automatically change it back into RM for you then wait for you to go and take the money. You cannot do auto renewal.
This is what i was told around oct 2007 by Public Bank.
hmm...i just checked it out fr pbb...This is what i was told around oct 2007 by Public Bank.
when the FCY FD reached maturity,u will not need to convert back to RM (ur Aus money still at AUs) but instead,u can proceed to choose ur option to change the duration term. The Bank applied a NON-AUATO renewal on the first renewal FCY FD sheet only because customer are given the special interest. Auto -Renewal only appllied after the first sheet reaches maturity.
i just placed an AUS FCY FD today at forex exchange counter rate 2.725 for 1 month (7.0+1.0 speacial rate=8.0%).
hopefully it'll get to my target benchmark before i withdraw it
This post has been edited by calvin00cool: Oct 4 2008, 03:22 AM
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