When you invest in a fixed deposit, your returns are assured. You can withdraw your complete deposit amount after the completion of the maturity period.
POSB offers you a wide range of deposit terms:
- 1 day
- 1 week
- 1 month
- 2 months
- 3 months
- 6 months
- 12 months
You get to choose a maturity instruction at the time of placement. The options include:
- Renew the interest and principal amounts
- Withdraw the interest and principal amounts
- Withdraw the interest amount and renew the principal amount
Overview of Canadian Dollar Foreign Currency Fixed Deposit Scheme offered by POSB Bank
POSB Bank is one of the leading banks across the globe. It offers financial products and services that are extremely beneficial for the customers. When people think of savings, they often choose fixed deposits. Fixed deposits not only keep your money safe but also allows you to earn good amount of interest on your investment. It is of utmost importance that you save your hard earned money. You may land into any financial problems at any point. You must be in a state to tackle such situations. Thus, it is very important to save money.
The tenure that you choose with POSB Bank foreign currency fixed deposit account is extremely flexible. The rates of interest offered with the scheme are lucrative for the customers. When the account matures, it renews itself automatically. With POSB foreign currency fixed deposit account, you can track your investment via online banking and phone banking. Thus, all your worries about your hard earned money are taken care of. You can choose from several currencies for your POSB foreign currency fixed deposit account. Canadian Dollar or CAD is one such currency that you may choose.
POSB Bank Canadian Dollar (CAD) Foreign Currency Fixed Deposit Rate of Interest
The rate of interest range between 0% p.a. and 1.17% p.a. The interest rate varies depending on the currency you opt for. POSB provides you with 10 foreign currencies to choose from. The minimum deposit amount would be S$5,000 equivalent.
The 10 foreign currency options include:
- Japanese Yen
- New Zealand Dollar
- Chinese Renminbi(Offshore)
- United States Dollar
- Australian Dollar
- Canadian Dollar
- Sterling Pound
- Hong Kong Dollar
Preferential Exchange Rates
When you convert a minimum amount of S$50,000 equivalent in currencies like AUD, NZD, SGD, USD, etc. to some other type of currency, you are approved for preferential exchange rates.