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PB Foreign Currency Fixed Deposit
Our PB Foreign Currency Fixed Deposit (PB FCY FD) enables you to:
- Earn potentially higher returns
- Enjoy preferential Forex conversion rates.
- Investment period : 1, 3, 6 and 12 months
- Enjoy additional interest rates of up to 2%*p.a above the counter rates
* The additional interest rates is over and above the counter rates for all types of PB FCY FD Accounts as follows:
Additional Interest Rate (p.a.)
|
1-month |
3-month |
6-month |
12-month |
Campaign Rate I
For newly converted funds from Ringgit or from one foreign currency to another currency |
1.00% |
0.50% |
0.30% |
0.10% |
Campaign Rate II
For funds converted from 12-month Plus FD |
2.00% |
1.00% |
0.60% |
0.20% |
- Open to individual and corporate accounts.
- Minimum deposits: RM10,000 or its equivalent in foreign currency in a single receipt.
- Eight types of foreign currencies to invest in, namely US Dollar, Pound Sterling, Australian Dollar, New Zealand Dollar, Singapore Dollar, Japanese Yen, Euro Dollar and Hong Kong Dollar.
- Deposit and withdrawal in foreign currency notes is not allowed. Placement of PB FCY FD can be made through conversion of Ringgit or by depositing foreign currency funds received via telegraphic transfer or cheque.
- Movement of funds within the same currency are not entitled to the additional rates.
- Waiver of penalty interest for premature withdrawal of Plus FD for placement into PB FCY FD.
- Upon maturity of the PB FCY FD, it will be renewed under the prevailing PB FCY FD interest rate, ie. counter rates, without additional interest rates.
- For premature withdrawal of PB FCY FD, half of the original contracted interest rate will be paid for each of the completed day subject to a minimum placement of 15 days.
- Rollover of existing PB FCY FD funds are not eligible for the additional interest rates.
- The interest earned from a PB FCY FD is subject to the normal 5% government withholding tax. However, for PB FCY FD up to RM100,000 or its equivalent in foreign currency or PB FCY FD with tenure of 12-month, the interest earned is fully exempted from withholding tax for resident individual.
- There is an inherent exchange risk in foreign currency deposits due to the fluctuation of the foreign currency rate against Ringgit Malaysia.
- The opening and operations of the PB FCY FD accounts are subject to the guidelines under the Exchange Control of Malaysia (ECM) Notices and Bank Negara Malaysia.
- Other terms and conditions apply.
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