Alliance Bank Malaysia Berhad (Bhd) allows customers to maintain deposits in foreign currency through its Foreign Currency Fixed Deposit (FCFD) services. The bank accepts deposits in a wide range of currencies, including US Dollar, Australian Dollar, Canadian Dollar, Chinese Yuan Renminbi, Euro, Pound sterling, New Zealand Dollar, and Singapore Dollar. Customers can enjoy attractive interest rates against their deposits through Alliance Bank’s FCFD.
Foreign Currency FD Interest Rates
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Benefits of Alliance Bank Foreign Currency Fixed Deposits
Here are some of the benefits of Alliance Bank Foreign Currency Fixed Deposits:
- Foreign Currencies: The bank accepts a host of foreign currencies, which include USD, AUD, CAD, SGD, and NZD, to name few.
- Attractive Interest Rates: Customers can benefit from high interest rates offered by the bank
- Current Exchange Rate: Customers can earn more while withdrawing money depending on current exchange rate in the market
- New customers or existing customers can use this service from all of the bank’s branches
- Nationality Criterion: Malaysian Citizens or Permanent Residents can apply for the foreign currency FD.
- Depositors must have attained at least 18 years of age.
Things to remember
Here are a couple of things you need to remember before opting for Foreign Currency FD at Alliance Bank:
- Minimum opening amount of 5,000 units, based on valuation of the particular currency, is required.
- FCFDs can be maintained jointly or individually
- Customers won’t get any interest if the amount is withdrawn within 3 months
- If FCFD withdrawal is made before maturity but after three months, interest will be paid as half of the original rate for each completed month