Everything You Need To Know About FCFD

FCFD, or Foreign Currency Fixed Deposit, is a fixed investment instrument in which an agreed-upon sum of money is deposited into a bank for a specific time and interest rate. Reputable Malaysian companies do so in multiple foreign currencies, and these have virtually no risk. During the process, your invested money is exchanged into the target currency and then converted back again once the agreed-upon length of time if complete.

Everything You Need To Know About FCFD

FCFD Broken Down

When you seek to learn more about foreign currency FD, you open up a unique investment opportunity that is perhaps different than other opportunities you found previously. The larger and longer your fixed deposit, the higher the interest rate. This can be a very safe and effective way to invest your money. Your only precaution should be that you do not need that money during the duration of the investment, as it will be unavailable. If you need to invest money in a hurry and know that it is safe, this is a great option.

A foreign currency account is maintained in a bank in a currency other than the currency used where the bank is located. In Malaysia, FCS is an account denominated in currencies other than the Malaysian ringgit. The banks that house this money are known as “designated banks,” and they keep your investment secure and well looked after at all times.


Banks promote foreign currency account deposits, and there are more than a few benefits to such a thing. Some investors use it to hedge against fluctuations in exchange rates. Foreign currency accounts are great for importers and exporters, if you can open an account in the currency used by the bulk of your business transactions for several weeks while you wait for the rate to fluctuate in your favour.

This is a form of investment with higher interest rates. For example, a fixed deposit FCA denominated into New Zealand dollars will have an 8.2% interest rate per annum for a period of twelve months, on average. This is significantly higher than other interest rates available for different accounts.

Whatever your reason, FCFD is a great option for investors with minimal risk involved. Before you make your deposit, remember that you cannot access the money until the agreed-upon time is completed. Once you complete this investment the first time, you will likely do so a second and third time.

If this is your first time doing such a thing, research reputable Malaysian companies for information. They have all of the tools needed to get it done smoothly and securely from start to finish, and you can trust your investment in their capable hands.

Higher Interest Rates

The higher the interest rates per annum, the more money you earn when you receive your investment at the end of the agreed-upon term. Fixed deposit accounts put the agreed-upon amount into an account. In most cases, the initial deposit is a fixed amount, and the currency is changed to AUD, CAD, EUR, NZD, and more. Once you make your first deposit, you can decide how long to has to sit in the accounts. Remember that you can choose anywhere between one month and twelve, allowing you to enjoy high interest rates as long as you need. The longer your deposit, the higher the interest rate.