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SINGAPORE: Malaysian bank Maybank's Singapore unit said Tuesday that it's launching attractive rates for its Foreign Currency Time Deposits (FCTDs).
It's offering interest rates of up to 5.4 per cent per annum for the Australian dollar and up to 4.15 per cent per annum for the New Zealand dollar.
Maybank will also offer US dollar and pound sterling denominated time deposits.
It said its rates would be extended to both fresh funds as well as funds in existing time deposits.
Maybank said it was launching the FCTDs as it has noticed a growing interest in such products.
It registered a year-on-year growth of 18 per cent for all FCTDs from the 2009 financial year to the 2010 financial year.
-CNA/wk
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