MM2H so expensive

Old Jan 16th 2011, 1:50 pm
  #16  
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Default Re: MM2H so expensive (Interest Rates)

Hi.

When we deposit our £30,000. (150,000 Malaysia Ringgits) in the Malaysian Bank, it is on a fixed deposit. Any one know what the interset rate is.

Thanks.
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Old Jan 16th 2011, 3:00 pm
  #17  
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Default Re: MM2H so expensive

Hi willb,

Depends on the Bank you use, but seems to be around 2.8% at present....give or take. Not anyone would call a good financial investment.
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Old Jan 17th 2011, 12:38 am
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Default Re: MM2H so expensive

Aaah 2.8%

Luvly jubly.

If only I could get 2.8% life would be a dream.

FDs around 0.7% here.
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Old Jan 17th 2011, 4:12 pm
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Default Re: MM2H so expensive

Originally Posted by ex reg View Post
Aaah 2.8%

Luvly jubly.

If only I could get 2.8% life would be a dream.

FDs around 0.7% here.
Got 6% the previous year and 4.5% last year. In Dubai!!!!!!!!!!
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Old Jan 18th 2011, 3:01 am
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Default Re: MM2H so expensive

Ya Jim, but the MM2H Fixed Deposit needs to be in Ringgits in a Malaysian bank I believe.

We did our Fixed Deposits at Maybank and wished we hadn't as the interest rates always seem to be crap at that bank. But we're just coming up to one year time, are buying a property here, so have just got the letter from the powers that be to take out 50K of the deposit - yippee

And what shall we do with it? We're going to take it along to Hong Leong Bank, bung it in and tell them to convert to Aussie Dollars, special promotion on at the moment 7 per cent tax free. Yup... you are not dreaming.... SEVEN percent

Must tip off all the punters on that other place too, heh heh
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Old Jan 18th 2011, 3:11 am
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Default Re: MM2H so expensive

Originally Posted by bakedbean View Post
Ya Jim, but the MM2H Fixed Deposit needs to be in Ringgits in a Malaysian bank I believe.

And what shall we do with it? We're going to take it along to Hong Leong Bank, bung it in and tell them to convert to Aussie Dollars, special promotion on at the moment 7 per cent tax free. Yup... you are not dreaming.... SEVEN percent

Must tip off all the punters on that other place too, heh heh


Good that you can get 7% somewhere in these days of very low interest! I work with a Sri Lankan who was getting >20% about 18 months ago, but down to 5 now!! Anyway all related to the vaLUE OF YOUR CURRENCY I guess!

I recedntly looked at the ringit/USD exchange rate and was shocked to see it was something like 3.03. Seem to remember it was about 3.6 a year ago when we visited Malaysia! ugh!
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Old Jan 18th 2011, 3:18 am
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Default Re: MM2H so expensive

Just a weaker US Dollar and a stronger Ringgit, isn't it? Quite a few of the Asian currencies are strong at the moment including the Ringgit, and that of course plays havoc with those trying to get MM2H with funds in another, perhaps weaker, currency. Really feel for those folks.
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Old Jan 22nd 2011, 10:32 am
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Default Re: MM2H so expensive

Good time to look at buying AUD as its down to around 3.02 to the RM. Month ago it was over 3.10. Aussie fixed deposit I think will continue to climb. 2 years ago it was possible to get 3 year terms at over 8% and the culture of higher interest has been down there a long time.
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Old Jan 23rd 2011, 7:29 am
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Default Re: MM2H so expensive

Yup... go Aussie go Getting some good deals here in Penang for Aussie dollar deposits, and the interest is tax-free

I know the interest rates are higher in Aus but don't you have to pay tax on the interest?
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