Public Bank Foreign Currency Fixed Deposits – Limited Time Offer
September 12, 2008 – 12:13 pmJust when I thought that I have found the “perfect” medium term investment plan in CIMB Islamic’s FRIA-I, which is like a conventional Fixed Deposit account, but running with an Islamic banking system and interests are called profits, I received a mailer from Public Bank touting their Foreign Currency Fixed Deposit accounts.
Last year, a friend told me that I should check out foreign currency fixed deposits because she has one and the interest rate is way higher than conventional FD accounts. However, where the minimum investment for a conventional FD is only MYR5000 (lower in some banks), minimum investment for foreign FD is MYR10,000 (higher in some banks. Come to think of it, MYR10,000 isn’t all that much after conversion to a foreign currency, especially with our weaker Ringgit.
Public Bank is running a campaign where they are promoting foreign fixed deposits. Minimum investment is MYR100,000. That’s quite a lot of money there and tenure is two years. I would consider this if they have a month-to-month tenure, since I still believe that property investment would bring in better returns in the long run.
If you are interested in this PB CARB investment, you should contact Public Bank. Do note that this is a limited time offer and will end this 19th September, 2008.
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