The Bank of East Asia

Personal Banking

Foreign Currency Fixed Deposit Account

With the current low yield from Singapore dollar fixed deposits, interest in foreign currency fixed deposits has been steadily growing. Our Asian Currency Unit (“ACU”) allows both individuals and corporations to make a wide range of foreign currency fixed deposits.

 

Higher Return with Potential of Risk Hedging

In general, ACU deposits offer higher interest rates than Singapore dollar fixed deposits, thereby enabling investors to enjoy higher returns on their investments. There is also greater potential for further capital gains due to favourable movements in exchange rates, making such deposits highly appealing to more adventurous investors.

In addition, ACU deposits can be used as a means to minimise any risk of adverse exchange rate movements. Individuals who are required to make future payments in foreign currencies can use this facility to lock in the exchange rates and at the same time earn higher returns from their deposits.

 

Choice of Terms and Currencies

We offer a choice of deposit terms, ranging from 1 week to a maximum of 12 months, at competitive interest rates.

We offer fixed deposits for a wide variety of foreign currencies, including:

  • Australian dollar
  • British pound
  • Canadian dollar
  • Euro
  • Hong Kong dollar
  • Japanese yen
  • New Zealand dollar
  • Swiss franc
  • US dollar

A minimum placement amount of US$10,000 (or its equivalent) is required, for tenors of 1 month and above.

For deposit renewal and withdrawal, customers are required to give us the instruction two working days in advance.

 

Foreign Currency Call Deposit

To better serve customers who need to make payments in the future, but on a date that is unknown, we offer ACU deposits on a call basis. Such deposits are similar to savings deposits, allowing our customers to enjoy both high returns and liquidity.

Customers must place a minimum amount in a foreign currency of US$50,000 (or its equivalent).

 

Exchange Risks

Customers should be aware of conversion between currencies involves exchange rates which are subject to fluctuations. If you have used funds in another currency to place the Foreign Currency Fixed Deposit, you may receive an amount less than your original amount of such funds upon conversion of your Foreign Currency Fixed Deposit back to that other currency. In addition, you may be subjected to foreign exchange controls which may be imposed from time to time.

 

Telephone   Email