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Depositors enjoy up to 0.8% rate
- Thread starter krafty
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what if they lock up your money in mudland???
Spore interest rates have always been low. You can get better rates else where e.g. in Malaysia
If there's another Asian crisis I can see restrictions on selling of Malaysian properties but not of cash in the banks. Under Mahathir, Sporeans could always get their money out. If people are afraid of Malaysia there is always other countries like Australian, US,....
Personally I don't have much cash at hand since I am fully invested. I recently opened a Maybank account in JB for the convenience & to hold my malaysian shares. If I sell my malaysian shares I'd keep the ringgit in Malaysia & use it for my trips to Malaysia.
Personally I don't have much cash at hand since I am fully invested. I recently opened a Maybank account in JB for the convenience & to hold my malaysian shares. If I sell my malaysian shares I'd keep the ringgit in Malaysia & use it for my trips to Malaysia.
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johnny333 said:Spore interest rates have always been low. You can get better rates else where e.g. in Malaysia
Very difficult to compare different currencies as currencies will take different paths. Don't just look at headline rates. For example, would you go for Greece govt bond? Or Somali bond? The coupon rates must be very high.
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My biz brings in between 5-15% per month. No, I am not in moneylending biz. See no reason to gain 0.8% per annum. Madness.
This is the FD interest rates chart published in yesterday's Phnom Penh Post. The rates are for deposits in USD, for deposits in riel, the rates are about 1.5% higher. Note that these rates are valid for USD1M and above, or the equivalent in riel. You could probably check the rates for amount less than $1M at each individual bank's website.
I remembered some time in November last year, the FD rates sky-rocketed, I think due to a credit crunch. ABA Bank (from Uzbeckistan if I am not wrong or one of the previous Soviet bloc) was offering something like 17%, even Cambodian Public Bank (fully owned subsidiary of Public Bank in Malaysia) was offering something like close to 10%.
Before anybody wants to jump in, I suggest a Google search into the background of the banks here because banking laws are quite lax.
0.8%, that's a joke, no wonder the 2 gambling dens are laughing all the way to the, er, banks.
I remembered some time in November last year, the FD rates sky-rocketed, I think due to a credit crunch. ABA Bank (from Uzbeckistan if I am not wrong or one of the previous Soviet bloc) was offering something like 17%, even Cambodian Public Bank (fully owned subsidiary of Public Bank in Malaysia) was offering something like close to 10%.
Before anybody wants to jump in, I suggest a Google search into the background of the banks here because banking laws are quite lax.
0.8%, that's a joke, no wonder the 2 gambling dens are laughing all the way to the, er, banks.
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