RHB bank is one of the banks in Singapore that offers a fixed deposit for a plethora of international currencies. The NZD (New Zealand Dollar) is one among the list. If you wish to open a fixed deposit account, you will be glad to know that the interest rate range is between 1.24-1.9% p.a. depending on the amount and tenure. The tenure of the fixed deposit account begins at 1 week, and goes up to 24 months. The bank will automatically renew your account on reaching maturity.
Additionally, there are discounts on telephonic transfers and Demand Draft. There is a 50% discount on safe box rental for the first year. They have also promised preferential exchange rates.
This fixed deposit denominated in a foreign currency of your choice can help in maximizing your returns with lucrative interest rate structures. The New Zealand Dollar (NZD) currency is one among the 9 foreign currencies accepted by the bank. You can choose from myriad flexible deposit tenure options provided by RHB for your fixed deposit. The bank offers the following deposit tenures for the NZD currency – 1 week, 1 month, 2 months, 3 months, 6 months, 9 months, 12 months and 24 months. RHB is one the few banks in Singapore that provides such vast tenure options for RHB foreign currency fixed deposits. Additionally, the bank also offers the auto – renewal feature on the deposit wherein your fixed deposit will get automatically renewed upon maturity if you do not wish to withdraw from your account. RHB bank has one of the lowest minimum deposit amount requirements when compared to other banks and financial institutions on the island. The bank requires a deposit amount of SGD 5000 equivalent in the New Zealand Dollar (NZD) currency to open a foreign currency fixed deposit with the bank.
RHB New Zealand Dollar Foreign Currency Fixed Deposit Interest Rate:
Interest rates meted by banks are subject to change with time. Therefore, it is vital to double-check the interest rates and the tenure along with the other charges incurred, if any, to take a decision.