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 Anyone know about foreign FD?

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mavistan89
post Aug 26 2023, 07:42 PM

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Hi guys if I want to open a SG account, as far I know I can walk in MY CIMB to open SG account and deposit FD there right?

Sg government offer 75k sgd pidm to each account holder, do I entitle for that if I use MY cimb to open SG cimb fd account? (Some forumer said yes some said no)

Exchange Rate and FD rate will it be different if I use other bank like maybank, ocbc those?
mavistan89
post Aug 27 2023, 12:53 AM

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QUOTE(Medufsaid @ Aug 26 2023, 11:01 PM)
mavistan89 can refer to this https://www.youtube.com/watch?v=mXjaob63K2w



  1. create a MY CIMB acct (can be physically at branch, can be online)

  2. create a SG cimb account online, with your malaysian IC, after creating, apply to link from MY cimb via your NRIC

  3. after 3-4 days, you'll get a notification that linkage is successful, deposit S$1 from CIMB my to CIMB sg for e-KYC purpose

  4. use remittance agents like transferwise (if newly opened, you can key in referral code and get first RM2,500 transferred for free) or moneymatch (cheapest rate) to deposit S$1k

  5. wait 2 weeks for CIMB sg to get back to you to complete the CIMB sg acct opening process

  6. wait few days for them to send you confirmation code to officially open a CIMB clicks sg acct

  7. use cimb clicks sg to deposit SG FD


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For no.4 remittance agents, normally how much is the charges? And the amount transferred got any capping? Because I plan to transfer sgd 100k to sg fd

For the deposit of sg fd, can we get the promotional rate? Or there is only one rate? Can we take out money in sgd instead of convert back to myr?

This post has been edited by mavistan89: Aug 27 2023, 01:15 AM
mavistan89
post Feb 14 2024, 09:46 AM

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What is the best conversion rate u guys get for sgd? Mine offered at 3.5875

This post has been edited by mavistan89: Feb 14 2024, 09:46 AM
mavistan89
post Feb 16 2024, 12:38 AM

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QUOTE(Hansel @ Feb 15 2024, 09:17 PM)
3.58 for SGD to MYR ?
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Myr to sgd, for bank tt. It would seem moneymatch is a better option.

This post has been edited by mavistan89: Feb 19 2024, 12:07 AM
mavistan89
post Feb 19 2024, 12:08 AM

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QUOTE(Hansel @ Feb 16 2024, 04:45 PM)
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,....
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See wrongly. Yes for myr to sgd. Yours 3.54 is sgd to myr.

 

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