It is also a great financial tool for those of you who deal with currencies other than your own national currency. Moreover, it guarantees a high return as interest will be paid for depositing the money.įoreign currency fixed deposits are one of the smart ways to counter the growing inflation and currency fluctuations. More investments on fixed deposit as this is mainly because this type of investment does not have any risks. Most banks in Malaysia offer this type of fixed deposits in major currencies like the US Dollar, Euro, Japanese Yen, Pound Sterling and Australian Dollar.
Foreign currency fixed deposits are basically fixed deposits that are maintained in banks in Malaysia but in foreign currency instead of Malaysia Ringgit. Many people are investing more and more in fixed deposit especially foreign currency fixed deposits in Malaysia as it is considered as a safe haven for investors. Do take note that the rate of interest paid will differs from bank to bank, amount given and duration of time. It is a personal investment platform in which an amount of money is kept and given to either a bank or financial institution where the recipient will pay interest to the depositor at certain specified rate. Everyone should know what a fixed deposit is.
