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
How many fixed deposit accounts can I open in Malaysia?
Patrick Yu
08 August 2018 06:27:31
2
Gravitas
08 August 2018 06:40:22
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
08 August 2018 06:50:13
2
Thanks.
It means all my fixed deposits account must be opened with one and only onebank, doesn't it?
Regards,
Patrick
Gravitas
08 August 2018 07:00:05
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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