Nov 4 2021, 09:44 PM
QUOTE(KenYoung @ Nov 4 2021, 06:37 PM)
CIMB SG is closing my acc.. want some opinion/suggestion frm sifus kalian... i have 2 options..
1. convert it to MYR NOW and get rate @ 3.06-3.07 (no charges)
2. send to my Foreign Currency Acc in CIMB MY(around 60 sgd charges or maybe more).. (and do Dual Currency Investment - something very new to me ive not done it - my RM suggested me to pair with AUD?)(if i go by this option but suddenly decide to sell my SGD to CIMB MY - rate is circa 3.03)
taking into consideration these r extra funds for investment, im inclined to option 2. but would appreciate some inputs?
Depends on what’s your plan. Do you need the MYR? If not, no need to convert, just transfer the SGD back for SGD denominated investment. If you go ahead with Option2 you have to be prepared to get converted to AUD and there’s not much you can invest with AUD.1. convert it to MYR NOW and get rate @ 3.06-3.07 (no charges)
2. send to my Foreign Currency Acc in CIMB MY(around 60 sgd charges or maybe more).. (and do Dual Currency Investment - something very new to me ive not done it - my RM suggested me to pair with AUD?)(if i go by this option but suddenly decide to sell my SGD to CIMB MY - rate is circa 3.03)
taking into consideration these r extra funds for investment, im inclined to option 2. but would appreciate some inputs?
Consider looking into some S REITS, some giving 5% yield p.a.
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