how many fixed deposit accounts can I open in Malaysia?

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Member since 08 August 2018

Patrick YuMember08 August 2018 04:27:31

Hi, I am from Hong Kong and considering to reside in Ipoh Malaysia under MM2H program. I want to understand besides the mandatory fixed deposit, can I open another fixed deposit account?

Regards,
Patrick

Gravitas ViP

Member since 02 March 2011

GravitasViP08 August 2018 04:40:22

9040

Any number you want. I find them a good way and to live off the interest to some degree. I think they can be in some foreign currencies as well, but rates same as everywhere. I think the only restriction for MM2H now is to have only ONE bank. Rates for FDs in Ringgit are highest with CIMB and Maybank usually. Being a Priority Client is helpful (only requires RM200k in deposits)

Patrick Yu Member

Member since 08 August 2018

Patrick YuMember08 August 2018 04:50:13

Thanks.

It means all my fixed deposits account must be opened with one and only onebank, doesn't it?

Regards,
Patrick

Gravitas ViP

Member since 02 March 2011

GravitasViP08 August 2018 05:00:05

9040

I heard that was the new rule..... but needs checking out to be sure. Plus we have a new government in Malaysia so things are changing.

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