Frequently Asked Questions

Can I make a Foreign Currency Fixed Deposit (FCFD) Placement if I do not have a FCFD account?

You will need to be an existing FCFD account holder before you may make a FCFD placement through POSB iBanking. If you do not have a FCFD account, you may open a FCFD account via POSB iBanking.
Find out more about Foreign Currency Fixed Deposit.

When can I access this service on POSB iBanking?

This service is available on POSB iBanking from 9 a.m. to 7 p.m. Mondays to Fridays (excluding Saturdays, Sundays and public holidays), and subject to the availability of foreign currency rates.

What are the foreign currencies I can make a placement in?

You can make a FCFD placement in the following currencies:

• US Dollar
• Sterling Pound
• Australian Dollar
• Canadian Dollar
• New Zealand Dollar
• Swiss Franc
• Japanese Yen
• Hong Kong Dollar
• Euro

What are the deposit periods I can choose from?

Depending on the currency type and principal amount, the choice of deposit periods include:

• One day
• One week
• One month
• Three months
• Six months
• Twelve months

Can I set my maturity instruction at the point of placement?

Yes, you may select the following maturity instruction at point of placement, and the bank will automatically act on your instruction upon maturity of your deposit:

• Roll over the principal and interest;
• Withdraw the principal and interest; or
• Roll over the principal and withdraw the interest.

Will I know the rates at which my FCFD Placement transaction is transacted?

Yes, you will be shown the prevailing FCFD interest rate and foreign exchange rate at the point of your transaction.