Bank of East Asia offers its customers a wide range of foreign currencies to choose from if they want to invest into a Fixed Deposit. Among the nine different currencies that the bank offers, the Great Britain Pound (GBP) currency is one of the popular choices provided at competitive interest rates. Apart from the choice of currencies provided for foreign currency fixed deposit, the bank also offers flexible deposit tenures that start as low as 1 week and up to a maximum of 12 month tenure. However, if you want to choose a tenure of 1 month and above, you will have to open a fixed deposit account with a minimum placement amount of US $10, 000 or its equivalent in the Great Britain Pound (GBP) currency. Also, in case of a renewal of your fixed deposit or a withdrawal, you will be required to give Bank of East Asia Singapore instructions at least 2 working days in advance for them to process the same.
A foreign currency fixed deposit helps you earn higher returns on your investments. In case you need to make foreign currency payments in the future, this option is highly reliable. You can conveniently lock-in the exchange rates as well as earn higher income from your fixed deposit.
Bank of East Asia offers deposit terms that range between 1 week and 6 months. The tenure can extend up to 12 months.
Bank of East Asia offers you a wide range of foreign currencies to choose from. The currency options comprise:
- British Pound (GBP)
- Australian Dollar (AUD)
- Canadian Dollar (CAD)
- Euro (EUR)
- Japanese Yen (JPY)
- Hong Kong Dollar (HKD)
- United States Dollar (USD)
- Swiss Franc (CHF)
- New Zealand Dollar (NZD)
Interest Rates for Bank of East Asia GBP Foreign Currency Fixed Deposit
For a tenure of 1 week to 6 months - Board rate of interest ranges between 0.1108% p.a. and 0.4838% p.a..
For a tenure of 1 week to 6 months - Tier rate of interest ranges between 0.2358% p.a. and 0.6088% p.a.
You need to instruct the bank at least two working days prior in order to renew or withdraw your deposit amount.