Best Fixed Deposit Accounts In Malaysia
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Best Fixed Deposit Accounts In Malaysia

Last update: 2 June 2021

Best Fixed Deposit Promos – June 2021

Bank Effective Rate (% p.a.) Minimum Deposit Maximum Deposit Tenure Promotion Period
Bank Muamalat
(Fixed Term Account-i Campaign – requires customers to deposit in current/savings account as well)
– 3.03 (12 months)

– 3.08 (15 months)

– 3.18 (18 months)

RM4,000 N/A – 12 months

– 15 months

– 18 months

22 Feb to 31 July 2021
Bank Rakyat
(Term Deposit-i Over-The-Counter Promotion)
– 2.48 (8 months)

– 2.58 (11 months)

– 2.78 (18 months)

RM10,000 N/A – 8 months

– 11 months

– 18 months

16 May to 31 Aug 2021
Hong Leong Bank
(eFixed Deposit-i)
– 2.30 (3 months)

– 2.35 (6 and 12 months)

– 2.40 (18 and 24 months)

RM10,000 RM2 million – 3 months

– 6 months

– 12 months

– 18 months

– 24 months

23 Mar to 30 June 2021
Hong Leong Bank
(Fixed Deposit/-i)
– 2.20 (3 months)

– 2.25 (6 months)

– 2.30 (12 months)

– 2.35 (24 months)

– 2.40 (36 months)

RM10,000 RM5 million – 3 months

– 6 months

– 12 months

– 24 months

– 36 months

23 Mar to 30 June 2021
Hong Leong Bank
(FD Pledge Credit Cards Campaign – requires customers to apply for a new HLB credit card)
– Additional 2.00% interest cashback RM2,000 RM50,000 – 6 months 2 Apr to 30 June 2021
Public Bank
(PB Fixed Deposit/Term Deposit-i)
– 2.08 (3 months)

– 2.28 (8 months)

RM10,000 RM10 million – 3 months

– 8 months

1 Jan to 30 June 2021
Public Bank
(PB eFD via FPX)
– 2.00 (1 month)

– 2.10 (2 months)

– 2.20 (3 months)

RM5,000 RM2 million – 1 month

– 2 months

– 3 months

1 Jan to 30 June 2021
Public Bank
(PB Journey Golden Savers Campaign – requires customers to also have/open a savings account)
– 2.10 (3 months)

– 2.20 (6 months)

– 2.30 (9 months)

RM5,000 RM5 million – 3 months

– 6 months

– 9 months

1 Feb to 30 June 2021

Monthly Update

Here’s a roundup of this month’s updates to the best fixed deposit accounts in Malaysia.

  • Overall, Islamic FD products continue to offer higher interest rates compared to conventional FD products.
  • Junior savers can opt for MBSB Junior Term Deposit-i for a relatively good profit rate (2.05% for 9-month tenure).
  • Meanwhile, senior citizens can apply for Bank Simpanan Nasional’s BSN Term Deposit-i Senior Citizen (2.10% for 12-month tenure) or Agrobank’s Fixed Return Investment Account-i 45 Plus (2.00% for 6-month tenure).
  • The highest interest rate recorded in this month’s round-up is 2.40% (Kuwait Finance House Malaysia; 12-month FD), whereas the lowest stood at 1.55% (Alliance Bank; 1-month FD).

Original article follows below.

“What’s the best fixed deposit in Malaysia?” It’s one of the most common questions we hear from Malaysians who want a stable and secure form of savings. With its combination of zero risks, guaranteed returns, and the flexibility of choosing the duration of the deposit, many turn to fixed deposits as a reliable form of short to medium-term savings.

Most fixed deposit accounts in Malaysia are also regulated by Perbadanan Insurans Deposit Malaysia (PIDM) that gives protection for your investment in the unlikely event of member bank failure. So when identifying which fixed deposit account to put your money in, the main points of consideration should be interest rates, minimum deposit amount, and if they are insured by PIDM.

Here are the highest interest fixed deposit accounts in Malaysia, arranged by duration. The tables below will be updated every month.

Top 1-month FD rates in Malaysia

Bank Name Product Name Minimum Deposit Interest/Profit Rate Profit on RM10,000 Depositor’s Insurance
MBSB Bank MBSB Term Deposit-i RM500 1.85% RM15.42 PIDM
Agrobank Agrobank Fixed Return Investment Account-i RM1,000 1.80% RM15.00
Al-Rajhi Bank Al-Rajhi Term Deposit-i RM500 1.70% RM14.17 PIDM
Bank Islam Bank Islam Term Deposit-i RM500 1.65% RM13.75 PIDM
Alliance Bank Alliance Bank Fixed Deposit RM500 1.55% RM12.92 PIDM

Top 3-month FD rates in Malaysia

Bank Name Product Name Minimum Deposit Interest/Profit Rate Profit on RM10,000 Depositor’s Insurance
Bank Simpanan Nasional BSN Term Deposit RM500 1.80% RM45.00 PIDM
Bank of Nova Scotia Bank of Nova Scotia Fixed Deposit RM1,000 1.75% RM43.75 PIDM
Public Bank Public Bank eFixed Deposit RM1,000 1.70% RM42.50 PIDM
AmBank Islamic AmBank Islamic Term Deposit-i RM500 1.65% RM41.25 PIDM
Hong Leong Islamic Bank Hong Leong Islamic Online Fixed Deposit-i RM500 1.55% RM38.75 PIDM

Top 6-month FD rates in Malaysia

Bank Name Product Name Minimum Deposit Interest/Profit Rate Profit on RM10,000 Depositor’s Insurance
Bank Rakyat Bank Rakyat Term Deposit Account-i RM500 2.15% RM107.50
Agrobank Agrobank Fixed Return Investment Account-i 45 Plus RM1,000 2.00% RM100.00
Bank Muamalat Bank Muamalat Fixed Term Account-i RM1,000 1.95% RM97.50 PIDM
CIMB Bank CIMB Unfixed Deposit RM1,000 1.80% RM90.00 PIDM
Affin Bank Affin Bank Fixed Deposit RM500 1.70% RM85.00 PIDM

Top 9-month FD rates in Malaysia

Bank Name Product Name Minimum Deposit Interest/Profit Rate Profit on RM10,000 Depositor’s Insurance
MBSB Bank MBSB Junior Term Deposit-i RM500 2.05% RM153.75 PIDM-
Bank Simpanan Nasional BSN Term Deposit-i RM500 1.90% RM142.50 PIDM
Bank of China Bank of China Fixed Deposit Account RM1,000 1.85% RM138.75 PIDM
RHB Islamic Bank RHB Islamic Commodity Murabahah Deposit-i RM1,000 1.80% RM135.00 PIDM
UOB Bank UOB Fixed Deposit RM500 1.75% RM131.25 PIDM

Top 12-month FD rates in Malaysia

Bank Name Product Name Minimum Deposit Interest/Profit Rate Profit on RM10,000 Depositor’s Insurance
Kuwait Finance House Malaysia KFH International Commodity Murabahah Deposit-i RM500 2.40% RM240.00 PIDM
Bank Simpanan Nasional BSN Term Deposit Senior Citizen RM5,000 2.10% RM210.00 PIDM
Bank Muamalat Bank Muamalat Fixed Term Account-i RM1,000 2.05% RM205.00 PIDM
Al-Rajhi Bank Al-Rajhi Term Deposit-i RM500 2.00% RM200.00 PIDM
Maybank Maybank Fixed Deposit RM1,000 1.85% RM185.00 PIDM

Ready to apply? Check out the RinggitPlus Fixed Deposits page, where you’ll find useful information for fixed deposit promotions available in Malaysia, as well as a useful fixed deposit calculator!

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Patrick Liew
10 months ago

Inform me the best All FD offer by banks
Other products offer are also welcome

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