Is it possible to open somewhere from Malaysia bank account even if I am Singaporean?

Theoretically you can't make excess returns from interest in other currency as the FX rate will move and undo any gains due to interest rate difference (see article linked below)

https://en.m.wikipedia.org/wiki/Interest_rate_p...

If you are seeking the offshore account for other reasons, it is possible but will be troublesome as this is somewhat specialised so may be more difficult to find providers and may need more manual work.

Hi Anon, yes you're probably accurate to say savings accounts in other countries may give you a higher interest earned.

But also note that you'd have to deposit money in that country's currency. So while you may make a higher interest, you may lose out if SGD strengthens against the currency you chose and will just devalue it when trying to convert back.

It is said for Indian Nationals, their interest accounts can give 4+%, but... if they convert Rupee to USD, they'd probably earn the same thing after a year.