Malaysians Can Now Save In Foreign Currencies With Al Rajhi Bank
Al Rajhi Banking & Investment Corporation (Malaysia) Bhd (alrajhi bank Malaysia) has recently announced that customers can now save in six major foreign currencies when they deposit with the bank’s Commodity Murabahah Foreign Currency Current Account-i.
With this account, Customers can earn up to 5% profit rate p.a.* when they deposit with the account and be able to save in the following currencies: AUD, EUR, GBP, SAR, SGD, and USD.
According to Al Rajhi, the account is particularly beneficial to parents with children studying overseas, expatriates, and those who travel frequently or have businesses overseas. It allows customers to grow their investments in foreign currencies as they save it for future use.
The only thing that customers need to do is to deposit USD$1,000 or its equivalent in any of the denominations listed above to open an individual account. Following this, all of the banks featured returns are calculated on a daily basis and paid monthly.
There is also no lock-in period for the rate, and customers can begin to enjoy the profit rate immediately and withdraw their deposits at any time.
