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Investing in Foreign Currency Fixed Deposit | Organic Income

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Investing in Foreign Currency Fixed Deposit

Posted on September 15, 2007
Filed Under Investment, Personal, Finance |

I made my first investment with my earnings on the 13th of September 2007. I think i’ve earned around Rm50k since the day i commercialised my blogs. And that was back in November 2006, with August being my best months so far. With a nice capital, i’ve started to invest with the funds available to me and i chose foreign FD for a start. I’m not interested in keeping it in my savings account as it’s considered idle money and the interest is ermmm, ludicrously low.

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My choice of investment for the moment is Public Bank Foreign Currency Fixed Deposit. The current rate offered is at 8.1%. I chose Public Bank as i have a savings account there and it’s convenient to just make a withdrawal and deposit at the same place. I was told as a new investor, i will get an extra 1% with my first deposit. And it only applies for the first deposit ONLY. Subsequent deposits will revert back to 8.1% or whatever rate they are offering.

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Their minimum deposit is Rm10k or NZD 3,976.14. That’s the amount i invested. The tenure or maturity term is 33 days. So, i’ll have to go back to the bank to cash out my earnings on the 16th of October. Then reinvest again at the normal offered rate of 8.1% and let it auto-renew every month with interest. If things goes well, i’ll top the account up each time i renew it.

I’ll post another update regarding this next month Other banks are also offering this at a lower interest rate as their investment capital is lower, starting at NZD1k. You may want to check those banks out too, or other currencies too whilst at it. But i was told by a few investment consultants that New Zealand currency is quite stable at the moment.

In my opinion, talk to a professional investment consultant prior to making any form of investment. Foreign Currency Fixed Deposits are considered high-risk investments and subjected to exchange rates’ fluctuation and pose higher risk. I’m a risk taker and i feel i’d like to give this a go. I’m in no way to be held responsible in the event you follow my footstep and put all your life savings into it and lose it all.

As per all investments, only invest what you can afford to lose. I still have a lot of investment opportunitiess to explore. I want to diversify my investments and let my money work for me. So, what did you do with your blogs earnings? Care to share?

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Comments

2 Responses to “Investing in Foreign Currency Fixed Deposit”

  1. lilian on September 15th, 2007 10:44 pm

    My blog earnings? FD and more FD until I sienz of filling up those darn forms. LOL, I hope I don’t sound lansi hor? Might as well ‘pau’ a toyboy and ‘enjoy’ my earnings hor?

  2. Understanding foreign currency fixed deposit on July 25th, 2009 12:02 am

    […] Let’s get down to business to get a further understanding on foreign currency fixed deposit. […]

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