Often Shuttle Between Malaysia & Singapore? 5 Reasons Why RHB Singapore Could Suit Your Financial Needs

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This post was written in collaboration with RHB Singapore. While we are financially compensated by them, we nonetheless strive to maintain our editorial integrity and review products with the same objective lens. We are committed to providing the best information in order for you to make personal financial decisions with confidence. You can view our Editorial Guidelines here.

The re-opening of the Singapore-Malaysia borders has been the best thing that has happened so far in 2022. It’s such a relief for Singaporeans and Malaysians to finally be able to drive or ride across the Causeway or Second Link again, whether it’s for business, work, family or just to have fun in a neighbouring country.

And while we enjoy the ease of moving around, it’s also key to ensure that our finances also enjoy this flexibility.

If you’re one of those who often travel between Singapore and Malaysia, one way to make sure you can move (and grow) your wealth swiftly and smoothly is to open an account with a bank that has cross-border expertise such as RHB Singapore.

So who might benefit from cross-border banking? Some examples would be Malaysians residing in either Singapore/Malaysia or Singaporeans who have their funds stashed in Malaysia due to legacy or choice. These people transact in both Singapore and Malaysia and would benefit from a bank that enables them to transact seamlessly across borders.

Here are 5 reasons why RHB Singapore could suit your financial needs.


1. Expertise in cross-border banking

RHB Bank operates extensively in Malaysia and has had 60 years’ presence in Singapore; and their familiarity with both countries contributes to their cross-border expertise.

For both Singaporeans and Malaysians, having a bank with cross-border experience is particularly important if the majority of their funds are stashed away in their main bank in Malaysia. Should they need to quickly move the funds to Singapore for work or family, RHB Singapore can utilise its cross-border expertise to ensure that the process is smooth.

RHB Singapore’s Relationship Managers are experienced, trained and certified to provide both local and cross-border investment advice, with good knowledge of the requirements of both Malaysia and Singapore. For affluent bank clients, this is important as knowledge of both markets will ensure they can also seize the best deals when moving their wealth.

When your Relationship Manager knows both Singapore and Malaysia intimately, you don’t have to worry that they will miss details in one of the markets when offering you financial advice.


2. Fixed deposit promotions

The RHB Fixed Deposit Account is available for both SGD and foreign currency. Fixed deposits offer a lower risk, simple and straightforward way to grow your money — you put in a certain amount with the bank, hold it for a period of time, and earn interest on it.

RHB Singapore’s Fixed Deposit Account offers one of the highest rates in the market right now, with interest rates of up to 2.3% p.a. for SGD Fixed Deposits.

To take advantage of RHB’s Fixed Deposit promotional rates, consider moving your funds now to lock in the good rates. While moving funds cross-border usually entails much paperwork, processes and the need to understand both countries’ requirements, this process is made very smooth thanks to RHB Singapore’s cross-border expertise and presence in both countries.

While inflation and even the prices of poultry are getting higher, RHB Singapore has your back. The bank is constantly looking out for its clients and regularly adjusting rates in tandem with other banks’ offerings in order to benefit clients. So you can enjoy the best deals with them.

Beyond SGD and MYR, RHB Singapore is also offering competitive Australian Dollar fixed deposit rates of up to 1.85% p.a., so check it out if you’ve also got AUD funds you want to grow. Australia is another key country where many of us have work, family or even kids who are going to school there.

RHB Singapore’s Fixed Deposits offer a great way to grow foreign currency cash savings you might have lying around in one of your bank accounts. Definitely worth a look if you have SGD, MYR or AUD on hand.


3. Generous referral programme

RHB is currently running a Premier Referral Campaign. Each time you refer your friends or family to join RHB Singapore with a minimum of S$200,000 Assets Under Management, you stand to receive up to S$500 cash credit.

It doesn’t matter whether the friends and family you refer live in Singapore or Malaysia, so if you have any Malaysia-based contacts, they can also enjoy the promotion.

It’s clearly a win-win situation, because if your friends/family are in the same situation as you (shuttling back and forth from Malaysia to Singapore, majority of funds in Malaysia due to legacy or choice), then they can also benefit from RHB Singapore’s cross-border expertise while you also receive a referral fee.


4. Enjoy cross-border privileges

Hear, hear. All RHB Singapore Premier Banking customers receive exclusive access to RHB’s Premier Banking Lounges in both Malaysia and Singapore.

It doesn’t matter where you bank. Thanks to RHB Singapore’s cross-border network, you automatically qualify for the same level of prestige and service wherever you are.

While you’re busy shuttling from Malaysia to Singapore and vice versa, it’s comforting to know that amidst your hectic schedule, the bank will provide the same level of quality and familiar service wherever you are, while they take care of your financial needs.


5. Efficient and personable service

Due to RHB’s size (they’re big but not humongous), they have the capacity to offer personable and quick service. Their service staff are warm and welcoming, and you can bet they’ll be attentive to every request.

If you’ve been following our reviews of financial products like savings accounts and deposits, you might have noticed that RHB’s rates are often very competitive relative to other banks’.

RHB in Singapore has been quick and nimble to update their rates frequently. This enables them to ensure they are always providing the most competitive offerings to customers across all pillars, whether deposits, loans or financing.

All RHB customers also gain access to the bank’s holistic suite of wealth management solutions.  RHBhas a strong partnership network with several leading insurers and asset management houses to ensure that you always get the best-in-class solutions to attain your financial objectives.

RHB also has competitive offers for your wealth financing needs. Even better, they can do this across borders without you having to be physically present, making it easy for you to engage seamlessly in any banking activities, whether in Singapore or Malaysia.

When participating in banking activities, especially across borders, you really need good and reliable customer service to take you through the process. With RHB, you have the assurance that someone will be guiding you every step of the way.


RHB Singapore: Cross-border banking made easier

Thanks to RHB Singapore, living and banking between Singapore and Malaysia is easier than ever. If you have family or finances across the border, you can count on RHB Singapore to help you with all your cross-border needs.

If you need to bank across the Causeway, now’s the time to benefit from RHB Singapore’s fixed deposit rates (especially for SGD, AUD and MYR) and its Premier Referral Campaign.

Sign up for an RHB Singapore account to start banking across borders now.


Terms and Conditions apply, visit https://rhbgroup.com.sg/rhb for full details. Insured up to S$75k by SDIC.