Fixed deposits are a safe method of saving a considerable amount while earning some amount of interest on it as well. RHB offers a choice of nine currencies to open a fixed deposit account. Those who want to open an account using USD (US dollars) can find various benefits with RHB. You could start your fixed deposit account with as low as S$5,000 for a tenure beginning from 1 week and going up to 24 months.
The RHB Foreign Currency Fixed Deposit helps you maximize your savings when your deposit is denominated in the United States (USD) currency. The bank provides one of the most competitive and irresistible interest rates for their Foreign Currency Fixed Deposit. Apart from the attractive rates, these deposits also come with a package of striking features and benefits. You can avail this deposit at flexible tenures that start at 1 week and extend up to 24 months. Furthermore, the Foreign Currency Fixed Deposit is also equipped with the auto – renewal feature where your deposit can be renewed automatically after reaching the maturity period. This deposit can help you in diversifying your investment portfolio tremendously. The bank also has one of the least minimum deposit amount requirement when compared to other leading banks in Singapore. The minimum deposit amount for the United States (USD) currency is an equivalent of SGD 5000.
Additionally, there is a provision of auto-renewal of the tenure upon maturity. This saves the hassle of contacting the bank to renew your account for the next tenure. No minimum fee is required to maintain the fixed deposit account. The document required to open a fixed deposit account for Singapore citizens is NRIC and PRs can show their passport.
RHB US Dollar Foreign Currency Fixed Deposit Interest Rates
The interest rate for USD begins from 0.34% and goes up to 1.03% depending on the amount and tenure. Since interest rates are subject to exchange rates, it is dynamic in nature. Therefore, it is vital that you read through the current rates before making a final decision.