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Foreign fixed deposit yields higher return than local fixed deposit

Posted on October 25, 2007
Filed Under Banking, Personal, Finance |

My sister-in-law was surprised to learn that the interests i earn from my foreign fixed deposit is far greater than what she earns on a monthly basis even though she has a fixed deposit account with the same bank in which i have mine at. She opened one with Rm20k for a tenure of three month drawing approximately Rm150 interests whereby i earned Rm191 in my first month alone with only Rm10k deposit. I told her mine has a higher risk as foreign currency exchange fluctuates. But if she’s game enough, she can do the same with her money. If she doesnt want to invest so much, she has the choice of opening her account with a different bank which requires a lower amount for account opening.

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