Solar Turbocharged June 7, 2012 Share June 7, 2012 try maybank.. rates higher and 1 mth only ↡ Advertisement Link to post Share on other sites More sharing options...
Soya Supersonic June 7, 2012 Share June 7, 2012 Anyone seen the most recent AUD foreign currency deposit rate that DBS is offering? 2.605% on a 6 months tenor of <$25k. How are the rates offered by other banks like now? not worth the forex risk for a mere 2.605%. Link to post Share on other sites More sharing options...
Soya Supersonic June 7, 2012 Share June 7, 2012 Need a bit of advice, please. Had a bit of AUD$ in a bank (which shall remain nameless for now) and am absolutely fed up with their (lack of) service. Would like to transfer that out into a new foreign currency fixed deposit with another bank while I wait for the AUD to (hopefully) pick up in strength vs the SGD. I'm looking for a tenure of 6 months (min) to 12 months (max). Which bank(s) would you recommend based on: 1) best interest rate for AUD FCFD? 2) least hassle in starting up an acct? 3) least overheads (fees) in starting up an acct? I intend to put the $ in via a demand draft, but I can also do a wire transfer (some fees involved with the latter). The amount is not a lot but it should be more than enough to meet the "minimum" criteria for most FCFD (over $10k AUD). I'm just looking for a good place to park this small amount for a short time. I've only explored DBS in detail right now - they're giving just over 4% for a 6 month tenure, with 0.125% fees (min $10, max $120) to start the A/C. Maybank seems to be giving better rates on their website (4.75% for AUD with 12 month tenure), but I haven't called them up. Could those with experience with other banks please advise? Thanks in advance. bro, if u wan higher % rates, u might hv to explore the currency investment acct route and striking it against the AUD or GBP. Link to post Share on other sites More sharing options...
Maldini03 1st Gear June 7, 2012 Share June 7, 2012 Did anyone mentioned that when you transfer AUD$$ there might be cost to TT to another local bank? Link to post Share on other sites More sharing options...
Maldini03 1st Gear June 7, 2012 Share June 7, 2012 Dual currency is risky, little interest, no or very little capital gains but all the possiblities of downside. If you meet a incompetant adviosur or a unethical one..... good luck Link to post Share on other sites More sharing options...
Soya Supersonic June 7, 2012 Share June 7, 2012 Dual currency is risky, little interest, no or very little capital gains but all the possiblities of downside. If you meet a incompetant adviosur or a unethical one..... good luck dci interest is definitely much higher than regular foreign currency FD. but as in any forex, there's bound to be currency risks. played wif it for a short while but found it too much trouble having to give instructions to the RM on strike rate, etc. worse part is % rate not transparent and dependent on the RM to quote. now i juz put in milo tin. Link to post Share on other sites More sharing options...
Soya Supersonic June 7, 2012 Share June 7, 2012 Did anyone mentioned that when you transfer AUD$ there might be cost to TT to another local bank? why would u ned to TT to another local bank? that's what the dual currency acct is for. Link to post Share on other sites More sharing options...
Timbuktu Clutched June 7, 2012 Share June 7, 2012 If you not have a sustained/guaranteed AUD-spend outlet, then you'll be subjecting yourself to a lot of forex risk exposure. Personally, I wouldn't do it. For me, I have children studying in Oz, so I can channel SGD whenever AUD is down, into both FD and savings accounts over in Oz, with near-zero forex exposure, but earning their super-high interest rates there. Link to post Share on other sites More sharing options...
Timbuktu Clutched June 7, 2012 Share June 7, 2012 I am using MayBank iSavvy AUD FD. No problem with them.. high interest rate of 4.4 to 4.8% .. monthly credit interest back to my savings account. Have opened the FD acct for close to 6 months liao.. Is your savings account (where interest is credited back) in SGD? Is so, then that's where the bank will make the killing! Caveat emptor! Link to post Share on other sites More sharing options...
Maldini03 1st Gear June 7, 2012 Share June 7, 2012 dci interest is definitely much higher than regular foreign currency FD. but as in any forex, there's bound to be currency risks. played wif it for a short while but found it too much trouble having to give instructions to the RM on strike rate, etc. worse part is % rate not transparent and dependent on the RM to quote. now i juz put in milo tin. I agree with you on the higher interest from DCI, but the only gaiin you can is the interest. If you pair against GBP 1) If GBP appreciates, you get back your AUD + interest 2) if AUD appreciates, you get back GBP + interest. ( in this case you loss on yr capital ranging form 3 - 7% depend how much AUD rise. 3) if AUD equal to GBP, no change then you profit. I wont say that DCI is useless, but finding a good RM is important, but a good RM is almost to none. Link to post Share on other sites More sharing options...
Maldini03 1st Gear June 7, 2012 Share June 7, 2012 why would u ned to TT to another local bank? that's what the dual currency acct is for. If their AUD$FD is stuck with A bank with low interest and want to transfer to B bank with higher interest most bank in singapore charges customer on fx tt within SG. Please check with your bank. DCI is just an investment account. 1 Link to post Share on other sites More sharing options...
1fast1 Supersonic June 7, 2012 Author Share June 7, 2012 If you not have a sustained/guaranteed AUD-spend outlet, then you'll be subjecting yourself to a lot of forex risk exposure. Personally, I wouldn't do it. For me, I have children studying in Oz, so I can channel SGD whenever AUD is down, into both FD and savings accounts over in Oz, with near-zero forex exposure, but earning their super-high interest rates there. Thanks - this small amount was part of the proceeds of an AUD-denominated bond maturing, so I was already locked into AUD. No added FX risk, it's only a matter of when I choose to convert back to SGD (not in the near future). This is an old thread - I'd already sorted out the issues with Citibank and got an FCFD going long ago. Link to post Share on other sites More sharing options...
Soya Supersonic June 8, 2012 Share June 8, 2012 If their AUD$FD is stuck with A bank with low interest and want to transfer to B bank with higher interest most bank in singapore charges customer on fx tt within SG. Please check with your bank. DCI is just an investment account. depends on which bank you're dealing wif. Link to post Share on other sites More sharing options...
Sdf4786k Twincharged April 30, 2018 Share April 30, 2018 (edited) Interesting... 0.92222222 wowowowow 0.9999-0.0007 (-0.07%) As of 10:12AM BST. Market open. good time to buy now close to 1:1 Edited April 30, 2018 by Sdf4786k Link to post Share on other sites More sharing options...
Sdf4786k Twincharged May 2, 2018 Share May 2, 2018 Wat aud FX FD interest now?? Which bank highest?? May bank?. went back up liao lor.. but still decent... If you not worried about the AU bank at risk and the huge liar loans of borrowers at the bohchap bank, as well as the dipping of the property market, u can go all out... Link to post Share on other sites More sharing options...
Sdf4786k Twincharged May 2, 2018 Share May 2, 2018 SGD/AUD (SGDAUD=X) CCY . Currency in AUD Add to watchlist 0.9974-0.0034 (-0.34%)As of 7:00AM BST. Market open. good for those planning holidays to use the UOB FX app to change for dec Link to post Share on other sites More sharing options...
Pocy Hypersonic May 4, 2018 Share May 4, 2018 How many % potential gain? Link to post Share on other sites More sharing options...
Sdf4786k Twincharged May 4, 2018 Share May 4, 2018 How many % potential gain? SGD to AUD Chart 3 May 2018 13:50 UTC - 4 May 2018 01:50 UTC SGD/AUD close:0.99547 low:0.99530 high:0.99992 Used to be 1.03 ↡ Advertisement Link to post Share on other sites More sharing options...
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