tag:blogger.com,1999:blog-89539493408704520772024-03-13T21:31:58.923+08:00Singapore Foreign Currency FDLinks to Singapore banks' foreign currency fixed deposit websites. Links to rates are given where available.weihttp://www.blogger.com/profile/15025524481240835671noreply@blogger.comBlogger18125tag:blogger.com,1999:blog-8953949340870452077.post-42738441738052948422015-05-11T11:14:00.003+08:002015-05-11T11:14:24.959+08:00Alternatives to Foreign Currency Fixed Deposits<a href="http://www.oanda.com/">Oanda</a> is an online forex (foreign exchange) trading website. Although it is based in Canada, anyone can <a href="http://fxtrade.oanda.com/">open an account</a> and start trading foreign currency.<br />
<br />
Advantages of Oanda (over Singapore banks. I use DBS bank mostly as an illustration)<br />
<br />
<ul>
<li>Lower bid/ask spread. </li>
<ul>
<li>At the time of writing (11 May 2015), if you bought AUD from DBS using SGD, it would cost you S$1.0641 per AUD. Selling one Australian dollar would net you $1.0415. That's a difference of more than 2%. In contrast, Oanda's rates were $1.0550 and $1.0534 respectively - a mere fraction of DBS' spread.</li>
<li>Remember that DBS has one of the lowest spreads of Singapore banks.</li>
</ul>
<li>No minimum holding time required</li>
<ul>
<li>Oanda is a forex website. You aren't required to hold the currency you buy for a fixed period of time. In fact, interest is calculated by the second and credited daily. So you are free to withdraw your money - and interest - at any time without penalty.</li>
</ul>
<li>Higher interest rates</li>
<ul>
<li>Typically, Oanda offers higher interest rates. For example, Oanda is offering about 1.5% for AUD (remember, no minimum holding period), while DBS offers around 1.2% for a 6 month AUD fixed deposit.</li>
</ul>
<li>Greater flexibility</li>
<ul>
<li>You can buy and sell any amount (even $100) with Oanda. In contrast, DBS has a minimum purchase amount of S$5000. Other banks such as OCBC, Standard Chartered, HSBC have similar (or higher) requirements.</li>
</ul>
<li>Ability to use leverage</li>
<ul>
<li>If you have strong beliefs about how one currency will move, you can use leverage to your advantage. <b>This can be a double edged sword. If you don't know what leverage is, don't use it.</b></li>
</ul>
</ul>
<div>
Disadvantages</div>
<div>
<ul>
<li>Counterparty risk</li>
<ul>
<li>It is hard to say which institution is more stable, Oanda or DBS. However, most Singaporeans would regard DBS the institution that is less likely to collapse.</li>
</ul>
</ul>
<div>
My opinion: What's there not to like about Oanda? If you need to get used to the platform, start a <a href="http://fxtrade.oanda.com/trade-forex/demo/">demo account</a> where you can trade "virtual" currency without any risk. </div>
</div>
weihttp://www.blogger.com/profile/15025524481240835671noreply@blogger.com0tag:blogger.com,1999:blog-8953949340870452077.post-73714615103202902562010-07-17T09:20:00.001+08:002010-07-17T09:21:20.148+08:00FAQs from Tan Kin LianRead this <a href="http://easysearch.sg/Admin/File.aspx?id=91">FAQs</a> from Tan Kin Lian about investing in foreign currency fixed deposits. Mr Tan was the former CEO of NTUC Income.weihttp://www.blogger.com/profile/15025524481240835671noreply@blogger.com0tag:blogger.com,1999:blog-8953949340870452077.post-21658855443728587722010-06-19T16:55:00.001+08:002010-06-19T16:57:21.014+08:00Euro rates and spreads"Which bank gives me the best exchange rate for the Euro?"<br />"Which bank gives me the best foreign currency fixed deposit rates for the Euro?"<br /><br /><a href="http://3.bp.blogspot.com/_Trvp_PhQiXQ/TByGBL_IjhI/AAAAAAAAACU/1xkqlJWpO6Y/s1600/eur.jpg"><img style="TEXT-ALIGN: center; MARGIN: 0px auto 10px; WIDTH: 320px; DISPLAY: block; HEIGHT: 175px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5484405801186004498" border="0" alt="" src="http://3.bp.blogspot.com/_Trvp_PhQiXQ/TByGBL_IjhI/AAAAAAAAACU/1xkqlJWpO6Y/s320/eur.jpg" /></a><br /><div></div><br /><br />Click on the image to find out.<br /><br />Spread refers to how much the bank will earn if you were to convert, say, S$50000 into Euros and back to Singapore dollars again.weihttp://www.blogger.com/profile/15025524481240835671noreply@blogger.com0tag:blogger.com,1999:blog-8953949340870452077.post-84117353274358101342010-05-13T21:54:00.002+08:002010-05-13T21:55:24.285+08:00Hold off pound and euro - ST, May 12Hold off pound and euro<br />By Gabriel Chen<br /><br />THE euro and pound are on the slide, and it looks like a perfect opportunity for investors to try their hand at a forex play, but experts are advising caution.<br /><br />While both currencies have been driven down by events in Europe, they could still go lower against the Singdollar and other Asian currencies such as the Indonesian rupiah, Indian rupee and Chinese yuan.<br /><br /><a href="http://www.straitstimes.com/BreakingNews/Money/Story/STIStory_525547.html">Click here</a> for the full story in the Straits Times on May 12.weihttp://www.blogger.com/profile/15025524481240835671noreply@blogger.com0tag:blogger.com,1999:blog-8953949340870452077.post-4756645181700036342010-05-03T16:47:00.005+08:002010-05-03T16:59:21.818+08:00Currency exchange rate outlook<a href="http://www.dailyfx.com/">dailyfx.com</a><br /><br />This site gives weekly and monthly outlooks for various currencies on the foreign exchange market. These include the US dollar, Japanese Yen, British pound, Swiss Franc, Canadian dollar, Australian dollar, New Zealand dollar. Do note the <a href="http://www.dailyfx.com/page/risk_warning.html">disclaimer & risk warning</a> on the site.<br /><br /><a href="http://en.wikipedia.org/wiki/Foreign_exchange_market">Wikipedia</a><br /><br />The open source encyclopedia gives a lot of information about the forex market.weihttp://www.blogger.com/profile/15025524481240835671noreply@blogger.com0tag:blogger.com,1999:blog-8953949340870452077.post-70010577713107490552010-05-03T16:39:00.003+08:002010-05-03T17:00:54.264+08:00Historical & current exchange ratesIf you are considering placing a foreign currency fixed deposit, you might not want to buy the currency when it is high. You can consider buying the currency, for example, when it is well below a recent peak. When was it at its peak? Here are two sites where you can find out.<br /><br />Site#1: <a href="http://www.xe.com/">http://www.xe.com/</a><br /><br />Google description: "Free currency rates, tools, and analysis using the most accurate data. Other services include XE Trade money transfers, XE Datafeed, XE Travel, and more!"<br /><br /><br />Site #2: <a href="http://finance.yahoo.com/currency-converter/?u#from=USD;to=EUR;amt=1">Yahoo! Finance</a><br /><br />Historical rates also available. For example:<br />AUD in SGD for <a href="http://sg.finance.yahoo.com/q/bc?s=AUDSGD=X&t=3m">the past 3 months</a><br />AUD in SGD for <a href="http://sg.finance.yahoo.com/q/bc?s=AUDSGD=X&t=2y">the past 2 years</a><br />USD in SGD for <a href="http://sg.finance.yahoo.com/q/bc?s=USDSGD=X&t=1y">the past 1 year</a><br />NZD in SGD for <a href="http://finance.yahoo.com/q/bc?s=NZDSGD=X&t=1y&l=off&z=m&q=c&c=">the past 1 year</a>weihttp://www.blogger.com/profile/15025524481240835671noreply@blogger.com0tag:blogger.com,1999:blog-8953949340870452077.post-51594072024040636572010-04-28T16:58:00.005+08:002010-04-28T17:02:52.990+08:00Australian dollar rates and spreads"Which bank gives me the best exchange rate for the Australian dollar?"<br />"Which bank gives me the best foreign currency fixed deposit rates for the Australian dollar?"<br /><br /><a href="http://3.bp.blogspot.com/_Trvp_PhQiXQ/S9f49Xto1eI/AAAAAAAAACM/d5Xm9n3t6rU/s1600/audspread.jpg"><img style="TEXT-ALIGN: center; MARGIN: 0px auto 10px; WIDTH: 320px; DISPLAY: block; HEIGHT: 171px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5465110406058530274" border="0" alt="" src="http://3.bp.blogspot.com/_Trvp_PhQiXQ/S9f49Xto1eI/AAAAAAAAACM/d5Xm9n3t6rU/s320/audspread.jpg" /></a><br /><div></div>Click on the image to find out.<br /><br />Spread refers to how much the bank will earn if you were to convert, say, S$50000 into Australian dollars and back to Singapore dollars again.weihttp://www.blogger.com/profile/15025524481240835671noreply@blogger.com0tag:blogger.com,1999:blog-8953949340870452077.post-21805466256228626332010-04-27T14:25:00.002+08:002010-04-27T14:28:59.200+08:00RHB BankRHB Foreign Currency fixed deposit rates: <a href="http://www.rhb.com.sg/pdfs/rates/DepositRates.pdf">http://www.rhb.com.sg/pdfs/rates/DepositRates.pdf</a><br /><br />RHB Singapore forex rates:<br /><a href="http://www.rhb.com.sg/pdfs/rates/FXRates.pdf">http://www.rhb.com.sg/pdfs/rates/FXRates.pdf</a><br /><br />More terms and conditions: <a href="http://www.rhb.com.sg/personal/deposits/foreign_currency_deposit.html">http://www.rhb.com.sg/personal/deposits/foreign_currency_deposit.html</a>weihttp://www.blogger.com/profile/15025524481240835671noreply@blogger.com0tag:blogger.com,1999:blog-8953949340870452077.post-80304732938377857592010-04-27T14:13:00.000+08:002010-04-27T14:14:31.850+08:00Royal Bank of Scotland Foreign Currency SavingsSee <a href="http://www.rbs.com.sg/consumer/pages/products/deposits/deposits.htm">RBS</a> website.<br /><br />For full list of terms and conditions, refer to RBS.weihttp://www.blogger.com/profile/15025524481240835671noreply@blogger.com0tag:blogger.com,1999:blog-8953949340870452077.post-33093186930513776282010-04-27T14:08:00.002+08:002010-04-27T14:11:59.079+08:00AdviceClick here for some advice by Mr Tan Kin Lian about foreign currency fixed deposits:<br /><br />Post 1 - Getting a <a href="http://tankinlian.blogspot.com/2008/06/foreign-currency-conversion-rate.html">good currency conversion rate </a><br />Post 2 - Australian dollar <a href="http://tankinlian.blogspot.com/2008/06/aud-fixed-deposits.html">fixed deposit rates</a> (June 2008)weihttp://www.blogger.com/profile/15025524481240835671noreply@blogger.com0tag:blogger.com,1999:blog-8953949340870452077.post-9366719097968593752010-04-27T13:56:00.002+08:002010-04-27T14:00:21.154+08:00Citibank Foreign Currency Fixed DepositCitibank <a href="https://www.citibank.com.sg/SGGCB/APPS/portal/loadPage.do?tabId=Investments&path=/prod/det/id_fc_fex.htm">Foreign Currency Fixed Deposit</a>. For specific rates, enquire with Citibank directly.<br /><br />Other products <a href="https://www.citibank.com.sg/SGGCB/APPS/portal/loadPage.do?path=/prod/sub_cat_land/id_deposit.htm&framevar1=workID&tabNo=5&tabId=deposits">available</a>. For full terms and conditions, refer to Citibank website.weihttp://www.blogger.com/profile/15025524481240835671noreply@blogger.com0tag:blogger.com,1999:blog-8953949340870452077.post-54341732998877845142010-04-27T13:54:00.001+08:002010-04-27T13:56:21.803+08:00ANZ BankMulti-Currency Term Deposit<br /><br /><a href="http://www.anz.com/singapore/en/Personal/Multi-Currency-Deposit/Term-Deposit/">http://www.anz.com/singapore/en/Personal/Multi-Currency-Deposit/Term-Deposit/</a><br /><br /><br />According to ANZ website, on 27 April 2010:<br /><br />"The ANZ Multi-Currency Term Deposit makes maintaining deposits in different currencies convenient.<br /><br />For a minimum deposit of AUD100,000 or equivalent in other foreign currencies, enjoy the benefits of maintaining your funds in different currencies under one account and at the same time earn interest.<br /><br />- Convenience of managing multi-currency funds under a single account number<br />- Wide range of currencies including AUD, NZD, USD, EUR and regional currencies<br />Competitive interest rates<br />- Fixed term from one week to one year."<br /><br />Contact ANZ if you have any enquiry.weihttp://www.blogger.com/profile/15025524481240835671noreply@blogger.com0tag:blogger.com,1999:blog-8953949340870452077.post-3896406941724381592010-04-27T13:44:00.003+08:002010-04-27T13:49:34.586+08:00Standard Chartered Foreign Currency FDStandard Chartered FCFD rates: <a href="http://www.standardchartered.com.sg/index_fcy.html">http://www.standardchartered.com.sg/index_fcy.html</a><br /><br />FCY$aver: <a href="http://www.standardchartered.com.sg/deposits/fcysaver.html">http://www.standardchartered.com.sg/deposits/fcysaver.html</a><br /><br />According to Standard Chartered's website, as of 27 April:<br /><br />"FCY$aver is a unique foreign currency savings account that earns you interest rates that are similar to a fixed deposit account<br /><br />At a glance<br />High interest rates<br />Interest is accrued daily from the first dollar<br />Transactional flexibility and accessibility to your foreign currency savings whenever you need it<br />Low initial deposit of USD2,000 or its equivalent to open an account<br />Available in USD, AUD, NZD, GBP, EUR, HKD, CAD and CHF"<br /><br />Other types of accounts are available at:<br /><a href="http://www.standardchartered.com.sg/deposits.html">http://www.standardchartered.com.sg/deposits.html</a><br /><br />SCB website: <a href="http://www.standardchartered.com.sg/index_web.html">http://www.standardchartered.com.sg/index_web.html</a>weihttp://www.blogger.com/profile/15025524481240835671noreply@blogger.com0tag:blogger.com,1999:blog-8953949340870452077.post-38262458773625424482010-04-27T12:16:00.005+08:002010-04-27T13:50:08.067+08:00CIMB Bank Foreign Currency Fixed DepositsCIMB Foreign Currency fixed deposit rates: <a href="http://www.cimbbank.com.sg/index.php?tpt=cimb_sg&tpl=fcfd">http://www.cimbbank.com.sg/index.php?tpt=cimb_sg&tpl=fcfd</a><br /><br />As of 27 April, some requirements were:<br />- You must be at least 18 years old.<br />- The minimum initial deposit is USD10,000 or equivalent for all major foreign currencies.<br /><br />CIMB forex rates: <a href="http://www.cimbbank.com.sg/index.php?ch=gen_rate&pg=gen_rate_forex&tpt=cimb_sg&tpt=cimb_sg">http://www.cimbbank.com.sg/index.php?ch=gen_rate&pg=gen_rate_forex&tpt=cimb_sg&tpt=cimb_sg</a><br /><br />Refer to CIMB Bank website for full list of terms and conditionsweihttp://www.blogger.com/profile/15025524481240835671noreply@blogger.com0tag:blogger.com,1999:blog-8953949340870452077.post-11429355971158035182010-04-27T12:09:00.004+08:002010-04-27T13:50:40.055+08:00Maybank Foreign Currency Fixed DepositsMaybank Foreign Currency FD:<br /><a href="https://sslsecure.maybank.com.sg/scripts/deposit_rate.jsp#fctd">https://sslsecure.maybank.com.sg/scripts/deposit_rate.jsp#fctd</a><br />minimum 10,000 in most currencies<br /><br />Maybank iSavvy Foreign Currency FD (only operates through internet banking):<br /><a href="https://sslsecure.maybank.com.sg/scripts/deposit_rate.jsp#ifctd">https://sslsecure.maybank.com.sg/scripts/deposit_rate.jsp#ifctd</a><br />minimum 10,000 in most currencies<br /><br /><br />Maybank forex rates: <a href="https://sslsecure.maybank.com.sg/scripts/fx_rate.jsp">https://sslsecure.maybank.com.sg/scripts/fx_rate.jsp</a><br /><br />For other terms, conditions, and requirements, refer to Maybank website.<br /><br /><a href="http://info.maybank2u.com.sg/personal/deposits-banking/time-deposits/detail.asp?page=foreign-currency">http://info.maybank2u.com.sg/personal/deposits-banking/time-deposits/detail.asp?page=foreign-currency</a><br /><a href="http://info.maybank2u.com.sg/personal/deposits-banking/time-deposits/detail.asp?page=isavvy-foreign-currency">http://info.maybank2u.com.sg/personal/deposits-banking/time-deposits/detail.asp?page=isavvy-foreign-currency</a>weihttp://www.blogger.com/profile/15025524481240835671noreply@blogger.com0tag:blogger.com,1999:blog-8953949340870452077.post-15324448985422662302010-04-27T12:04:00.003+08:002010-04-27T13:51:38.489+08:00UOB Foreign Currency FDUOB Foreign Currency FD rates: <a href="http://www.uob.com.sg/personal/deposits/fixed/foreign_currency_fd.html">http://www.uob.com.sg/personal/deposits/fixed/foreign_currency_fd.html</a><br />(Click on "interest rates" to see interest rates)<br /><br />For forex rates, scroll down to bottom right hand corner. Click on "Rates" and go to "Foreign Exchange Rates"<br /><br />For fees, minimum requirements, and other terms and conditions, refer to UOB website.weihttp://www.blogger.com/profile/15025524481240835671noreply@blogger.com0tag:blogger.com,1999:blog-8953949340870452077.post-53956990473535821402010-04-27T12:00:00.003+08:002010-04-27T13:52:00.843+08:00OCBC Bank Foreign Currency FDForeign Currency FD rates: <a href="http://www.ocbc.com.sg/personal-banking/tools%20and%20info/Toi_Rates_FoxFC_Listing.shtm">http://www.ocbc.com.sg/personal-banking/tools%20and%20info/Toi_Rates_FoxFC_Listing.shtm</a><br /><br />Forex rates: <a href="http://www.ocbc.com.sg/personal-banking/tools%20and%20info/Toi_Rates_Fox_Listing.shtm">http://www.ocbc.com.sg/personal-banking/tools%20and%20info/Toi_Rates_Fox_Listing.shtm</a><br /><br />Requirements: (correct at time of publishing)<br />Minimum age is 21 years old<br />Initial deposit in 5,000 units of the respective foreign currencies except HKD50,000, JPY500,000 or THB500,000, e.g. AUD5,000<br /><br />See OCBC website for any other relevant fees/charges: <a href="http://www.ocbc.com/personal-banking/banking/Bnk_Dep_Tmd_ForeignCur.shtm">http://www.ocbc.com/personal-banking/banking/Bnk_Dep_Tmd_ForeignCur.shtm</a>weihttp://www.blogger.com/profile/15025524481240835671noreply@blogger.com0tag:blogger.com,1999:blog-8953949340870452077.post-70391739727613129702010-04-27T11:53:00.005+08:002010-04-27T13:52:22.930+08:00DBS Foreign Currency Fixed DepositsForeign Currency FD rates: <a href="http://www.dbs.com/ratesonline/Pages/fdacu.aspx">http://www.dbs.com/ratesonline/Pages/fdacu.aspx</a><br /><br />FC Current Account rates: <a href="http://www.dbs.com/ratesonline/Pages/fcca.aspx">http://www.dbs.com/ratesonline/Pages/fcca.aspx</a><br /><br />Forex rates: <a href="http://www.dbs.com/ratesonline/Pages/fxbra.aspx">http://www.dbs.com/ratesonline/Pages/fxbra.aspx</a><br /><br />Charges: <a href="http://www.dbs.com/sg/personal/deposit/foreignfixed/servicesandcharges/default.aspx">http://www.dbs.com/sg/personal/deposit/foreignfixed/servicesandcharges/default.aspx</a><br /><br />See DBS Bank's Deposits guide for other charges: <a href="http://www.dbs.com/sg/personal/doc/deposit/DBS_deposit_guide.pdf">http://www.dbs.com/sg/personal/doc/deposit/DBS_deposit_guide.pdf</a>weihttp://www.blogger.com/profile/15025524481240835671noreply@blogger.com0