Q5: Can I buy additional protection for my deposits if the amount is more than RM,? A: No. Deposit insurance cannot be purchased as it is not a general or life insurance product. Q6: Which types of deposits are eligible for protection?
A: Deposits which are eligible for protection include savings and current accounts, fixed deposits, foreign currency deposits, Islamic deposit accounts as well as bank drafts, cheques, other payment instructions or instruments made against a deposit account. Q7: Which types of products are NOT protected? A: Deposits not payable in Malaysia, interbank money market placements, negotiable instruments of deposit NIDs and other bearer deposits, repurchase agreements, unit trusts, stocks and shares, as well as gold-related investment products or accounts are not protected by PIDM.
Q8: Are unit trusts, stocks and shares eligible for deposit insurance protection? Unit trusts, stocks and shares are not eligible for deposit insurance protection. Q9: How will I know if my deposits are eligible for deposit insurance protection?
- Foreign Currency Fixed Deposit (FCFD).
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A: PIDM member banks must inform you whether a deposit product is eligible or not eligible for deposit insurance protection before you place your funds with it. All eligible deposit products are listed in a register available at your bank. These requirements are in line with the Malaysia Deposit Insurance Corporation Provision of Information on Deposit Insurance Regulations to ensure member banks provide accurate, relevant and timely information on deposit insurance protection and coverage.
Q Are Islamic and conventional deposits protected separately?
RHB Malaysia
A: Yes. Islamic and conventional deposits are eligible for a separate deposit insurance limit of RM, per depositor per member bank. Q I have deposits in several member banks. Will all my deposits be added up for deposit insurance protection purposes? Your deposits in different member banks are protected separately. The RM, deposit insurance limit is applicable per depositor per member bank. Q I have deposits in different branches of the same member bank.
Will all my deposits be protected separately?
- FCNR(B) Fixed Deposit Account.
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- FOREIGN CURRENCY TIME DEPOSIT?
- Key Highlights;
- What is FCNR deposit? : FCNR Deposit Account & FCNR Interest Rates.
- Foreign Currency Time Deposit.
Deposits held in different branches of the same member bank will be added together for deposit insurance protection purposes. Q Are there any deposit accounts that are protected separately? Q As foreign currency deposits also enjoy deposit insurance coverage, are they separately protected from Ringgit deposits? Unlike Islamic and conventional deposits, Ringgit and foreign currency deposits are not separately protected if they are placed in the same member bank. Foreign currency deposits will be converted to Ringgit and aggregated with other deposits e.
Foreign Currency Time Deposit | Fixed Deposit - HSBC MY
Q What happens to my deposits if two member banks merge? A: You will continue to enjoy separate deposit insurance coverage for a period of two years or upon maturity or until full withdrawal of the deposit, whichever is earlier. Q In the unlikely event of a member bank failure, how do I make a deposit insurance claim? Please check with your nearest branch or contact your relationship manager for the latest Foreign Currency Deposits interest rate.
No, there are no restrictions to open a joint Foreign Currency Deposits following the latest liberalisation by Bank Negara Malaysia effective 1 April You may withdraw either by converting to a Ringgit Malaysia account, telegraphic transfers or bank drafts. There is no charge for opening a Foreign Currency Deposits. No partial upliftment is allowed. Any early upliftment is subjected to penalty charges as below:.
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The replacement cost can be zero if the current market rate at the date of the premature upliftment is less than the deposits contract rate. Back button.
Proceed to third party website. Diversify your investment portfolio Take advantage of our wide range of foreign currencies and flexible investment choices between Foreign Currency Savings Account and Foreign Currency Fixed Deposit Account to diversify your investment portfolio. Contact your nearest branch or your relationship manager for a Preferential Exchange Rate. Preferential rates Take advantage of our preferential foreign exchange FOREX rates 1 to save money and ensure better mileage with your foreign currency.
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