Using the Foreign Currency Fixed Deposit offered by RHB bank, denominated in a foreign currency of your choice, you can maximize your savings. RHB bank offers one of the most flexible choice of deposit tenures that start as small as 1 week and stretch all the way till 24 months. Additionally, this Foreign Currency Fixed Deposit also comes with auto – renewal feature that can renew your deposit automatically upon reaching the maturity period. You can use this deposit account to conveniently diversify your investment portfolio. RHB bank only requires a minimum deposit amount of SGD 5000 equivalent in the EUR currency. It offers one of the most attractive and competitive interest rate structures for this currency compared to other banks on the island, many of whom do not provide any interest for their Foreign Currency Fixed Deposits denominated in the Euro currency.
Increase your savings by investing in a foreign currency fixed deposit. RHB offers you flexible fixed deposit tenures that range from 1 week to 24 months. You have the liberty of choosing a currency of your choice. There are several currency options for you to choose from:
- Euro (EUR)
- British Pound (GBP)
- Australian Dollar (AUD)
- New Zealand Dollar (NZD)
- United States Dollar (USD)
- Hong Kong Dollar (HKD)
- Swiss Franc (CHF)
- Canadian Dollar (CAD)
- Japanese Yen (JPY) up to 3mio
- Chinese Yuan – Offshore (CNY)
The RHB Euro foreign currency fixed deposit comes with an auto-renewal option upon maturity. RHB will need a minimum deposit of S$5,000 equivalent in the Euro currency.
Deposit Insurance Scheme
The Singapore Deposits Insurance Corporation insures the Singapore dollar deposits of non-bank depositors for up to S$50,000 in aggregate for every depositor per scheme member by law. Investment products like dual currency investments, foreign currency deposits, and structured deposits are not insured.
Rate of interest offered by RHB EURO Foreign Currency Fixed Deposit
Generally, Euro deposits do not earn any rate of interest. Currently, RHB offers 0% p.a. rate of interest for all tenures.