Is foreigner allow to set up FD?
Mr. Gan has open a DCI n saving acc for me. So I think it is ok for foreigner to hv acc there. I hv also open a FD acc in maybank. Since I am planning to retire there might as well have some funds there n they are paying 3.15%. Maybank promo till Jul 15 - 3.50%.can make some extra for renvo in 3 yrs time.c Sg bank pay 1.2% only.
Most branch bank officers don,t know much about loans requirements, they have to refer to K.L. Hq.
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Setia Eco Cascadia
- Thread starter rosnyus
- Start date
can share his email or contact?
CIMB, 2, Jln Sagu 1, Tmn Daya, Ph 607 351 1940 ext 10. Hp 6019 354 5217. [email protected]
Is foreigner allow to set up FD?
Mr. Gan has open a DCI n saving acc for me. So I think it is ok for foreigner to hv acc there. I hv also open a FD acc in maybank. Since I am planning to retire there might as well have some funds there n they are paying 3.15%. Maybank promo till Jul 15 - 3.50%.
Most branch bank officers don,t know much about loans requirements, they have to refer to K.L. Hq.
do take note that a weakening of the MYR to 2.548 (from the current rate of say 2.45) to the SGD will wipe out your 3.5% FD return. FYI, in case you didn't do the math.
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congrats, lam , for your purchase. we will be in the same gated compound!
thank you so much for the info. i have heard a bit about this, now is much clearer to me. btw, i think it is called "spot" rate. i also heard the interest rate can be 6%, very good! if you don't hit. may i know, this 6% interest, is paid in SGD or MYR? and is payable based on the period you specified (ie 1 week)? And the min 100k deal is in SGD or MYR? Thanks.
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do take note that a weakening of the MYR to 2.548
If the myr drop to 2.548, it will be better for me, that means my s$1.00 will get me myr 2.548. Correct me if I am wrong. Btw the 3.15% is for fd in myr. I am thinking as a malaysian already, lol
Look forward to see u neighbour.
The interest is paid in sgdols. I think the min is myr.
Thanks for sharing. The maybank promotion seem attractive, what the min in MYR and duration?
So lucky you could get a corner, is during pre launch? How much at that time?
Yeah, have you booked one?
do take note that a weakening of the MYR to 2.548
If the myr drop to 2.548, it will be better for me, that means my s$1.00 will get me myr 2.548. Correct me if I am wrong. Btw the 3.15% is for fd in myr. I am thinking as a malaysian already, lol
haha. good for you. i'm amazed that a lot of singaporeans want to retire in jb, but i guess it make sense financially and also the space. what i meant was, if you transfer your 100k over now and FD 3.5%, but 3 years later (when your house is ready) if the xchange rate has rise to 2.55RM/sgd, then it would mean that your FD didn't make money for you. that's all. who can predict how is the rate in future.
hey i wonder, can i put a very high strike rate, say 2.6. confirm won't hit, so the bank keep paying me 6% on my SGD deposit??
Higher strike price mean lower interest plus there is a time line and min. RM amount equilavent to establised the contract.
Just add on, if not strike, the SGD will then be transfer to normal account. Then the question come in whether we can withdrawl S$ in malaysia? Some bank will strongly encourage you to convert to RM at their buying rate....super low ...which is disadvantage for us..or establish another contract. Hence not sure whether CIMB allow S$ withdrawal?
Well, the DCI is meant for Malaysian, so, think in their sense, the proceed is for use in Malaysia. The question of withdraw s$, did not cross my mind, as I will be using the funds transferred to be use there. Also, I will keep bulk of my funds in Sg. For me, the DCI is just to get my Sg$ to myr at a better rate to pay for the house and expanses, not as a investment. The investment part is the myr FD.
Welcome traxxas. Nice to have another neighbor join here
