From Jan 3, CIMB will modify interest rates on foreign currency FD.
According to CIMB, you can now get 3.75%p.a. for a one-month deposit, 4.40%p.a. for three months, 4.50%p.a. for six months, and 4.60 for a year. %p.a.
In terms of USD fixed deposits, you can earn 4.40% p.a. for a one-month deposit, 5.10% p.a. for three months, 5.33% p.a. for six months, and 5.40% p.a. for twelve months.
Currency exchange a fixed deposit account is one that allows anyone to deposit foreign currency. You can exchange your money for foreign currency and set up a fixed deposit. This not only protects the value of the funds but also earns interest on fixed deposits.
However, you will lose money if the foreign currency you deposit depreciates during your storage period. Furthermore, there will be exchange rate differences when converting foreign currencies, so frequent exchange rate conversions in the short term will result in losses.
(There is no investment advice here; the information is provided solely for sharing.)
