Personal

Business

Foreign Currency
  1. Wealth
  2. Foreign Currency Deposits

Enjoy up to 4.20% p.a. on 12-month Fixed Deposits in USD/GBP/AUD/SGD

Limited-time offer for fresh funds only. Valid till 30 June 2025

Limited-time offer for your foreign currency needs
  • Special rate up to
    4.20% p.a.

    12-month Fixed Deposits in USD/GBP/AUD/SGD

  • Be rewarded with
    Machines cash voucher

    (for Apple gadgets) with minimum deposit of RM100,000 equivalent in selected Foreign Currencies

  • Send money abroad at
    ZERO fees

    to selected countries with SC Remit

Gift voucher value that you can get

ELIGIBLE INCREMENTAL AVERAGE BALANCE (IAB)

(MYR EQUIVALENT)
Gift Voucher’s Value (RM)
Between 100,000 – 199,999 1,200
Between 200,000 – 299,999 2,400
Between 300,000 – 399,999 3,600
Between 400,000 – 499,999 4,800
Between 500,000 – 599,999 6,000
Between 600,000 – 699,999 7,200
Between 700,000 – 799,999 8,400
Between 800,000 – 899,999 9,600
Between 900,000 – 999,999 10,800
Between 1,000,000 – 1,099,999 12,000
Between 1,100,000 – 1,199,999 13,200
Between 1,200,000 – 1,299,999 14,400
Between 1,300,000 – 1,399,999 15,600
Between 1,400,000 – 1,499,999 16,800
Between 1,500,000 – 1,599,999 18,000
Between 1,600,000 – 1,699,999 19,200
Between 1,700,000 – 1,799,999 20,400
Between 1,800,000 – 1,899,999 21,600
Between 1,900,000 – 1,999,999 22,800
Between 2,000,000 – 2,099,999 24,000
Between 2,100,000 – 2,199,999 25,200
Between 2,200,000 – 2,299,999 26,400
Between 2,300,000 – 2,399,999 27,600
Between 2,400,000 – 2,499,999 28,800
2,500,000 and above 30,000

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FAQs

  • A Foreign Currency (FCY) Deposits Account can be either a Foreign Currency Savings Account or a Foreign Currency Fixed Deposit Account.

  • The process is the same as opening a normal Ringgit Malaysia savings or fixed deposits account at your nearest branch with your National Registration Identity Card and/or Passport. However, in order to enjoy Foreign Currency Fixed Deposit rates, you must first open a Foreign Currency Savings Account.

  • No, there are no restrictions. Residents and non-residents are free to open Foreign Currency Deposits Account for any purpose.

  • A resident is classified as:

    • Malaysian citizens, excluding those who hold a foreign permanent resident and reside abroad
    • Non-citizens of Malaysia who have obtained permanent resident status and reside in Malaysia

    A non-resident is classified as:

    • Any person other than a resident
    • Malaysian citizens with foreign permanent resident and who reside abroad
    • Save on foreign exchange losses that would arise from the exchange conversion process
    • Get preferential FOREX rates from our dedicated Retail Treasury Desk Dealers
    • Earn attractive interest rates on your deposits
    • Flexible placement tenures for your funds

  • Foreign Currency Deposits interest rates are dependent on market rates and could fluctuate from day to day. Please check with your nearest branch or contact your relationship manager for the latest Foreign Currency Deposits interest rates.

  • Calculation of the daily interest rate on Foreign Currency Deposits is as follows:

    (Available balance x interest rate)/Number of days in the year

    • A minimum deposit of USD 1,000 or its equivalent is required to open a Foreign Currency Savings Account.
    • A minimum deposit of USD 10,000 or its equivalent is required to open a Foreign Currency Fixed Deposit Account.

  • No, there are no restrictions to open a joint Foreign Currency Deposits Account following the latest liberalisation by Bank Negara Malaysia effective 1 April 2007.

  • You may withdraw either by converting to a Ringgit Malaysia account, telegraphic transfers or bank drafts.

  • There is no charge for opening a Foreign Currency Deposits Account. However, a monthly service charge of USD10 (not including GST) or its equivalent will apply to Foreign Currency Savings Accounts whenever the monthly average credit balance falls below USD 1,000 or its equivalent for all currencies.

  • Yes, a penalty will be charged for any early upliftment of Foreign Currency Fixed Deposits Account.
    No partial upliftment is allowed. Any early upliftment is subjected to penalty charges as below:

    Total penalty = interest accrued + handling fee + replacement cost

    Note:
    Handling fee is USD50 (or equivalent)

    Replacement cost = (current market day rate – contract rate) x remaining days to maturity

    The replacement cost can be zero if the current market rate at the date of the premature upliftment is less than the deposits contract rate.

Terms and conditions

* Protected by PIDM up to RM 250,000 for each depositor

* Click here for PIDM’s DIS Brochure

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