Best Fixed Deposit Accounts In Malaysia - May 2022
Author Avatar

Last update: 29 April 2022

Best Fixed Deposit Promos – May 2022

BankEffective Rate (% p.a.)Minimum DepositMaximum DepositTenurePromotion Period
Affin Bank
(Affin Banca Deposit campaign – requires customers to purchase bancasurrance products)
– 7.88 or 18.88 (1 month)

– 3.88 or 10.88 (3 months)
RM10,000 or RM50,000 (depending on banca product)N/A– 1 month

– 3 months
1 Apr – 30 June 2022
Alliance Bank
(Alliance Coolest Cashback: eFD promo – requires customers to open a SavePlus/-i account)
2.55RM1,000RM50,00012 months1 Feb – 30 June 2022
Alliance Bank
(Investment & FD Bundle campaign – requires customers to invest in selected investment products)
– 6.28 (for investment in unit trusts)

– 5.00 (for investment in retail securities or sukuk, and structure investment)
RM1,000– Up to one time of invested unit trust amount

– Up to one-third of invested retail securities or structured investment amount
3 months1 Apr – 30 Sept 2022
Alliance Bank
(Bancassurance & FD Bundle campaign – requires customers to purchase selected bancassurance products)
– 7.50 (products with minimum annualised premium of RM50,000)

-5.50 (products with minimum annualised premium of RM10,000)
RM1,000– Up to one time of annualised premium amount of purchased product6 months
Alliance Bank
(New Investor Campaign)
8.28RM1,000N/A3 months1 Apr – 30 Sept 2022
AmBank
(12-Month FD/TD-i and CASA Combined campaign – requires customers to have a current/savings account)
– 3.35 (individual customers)

– 3.40 (AmWafeeq Savings accountholders)

– 3.50 (AmBank SIGNATURE Priority Banking customers)

– 3.60 (new-to-bank SIGNATURE Priority Banking customers)
– RM10,000– RM2 million (individual customers)

– No cap (AmWafeeq savings accountholders)

– RM1 million (SIGNATURE Priority Banking customers)
12 months1 Apr – 30 June 2022
Bank Rakyat
(Bank Rakyat Term Deposit-i Year 2022 promo)
– 2.60 (12 months)

– 2.80 (24 months)
RM10,000N/A– 12 months

– 24 months
9 Mar – 9 July 2022
CIMB Bank
(CIMB eFixed Return Income Account-i )
– 2.10 (3 months)

– 2.20 (6 months)

– 2.30 (12 months)
RM5,000N/A– 3 months

– 6 months

– 12 months
1 Apr – 31 May 2022
Hong Leong Bank
(Step Up Fixed Deposit Promotion)
– 2.45 (1 to 12 months)

– 2.80 (13 to 24 months)

– 3.05 (25 to 36 months)
RM10,000– RM10 million– 1 to 12 months

– 13 to 24 months

– 25 to 36 months
1 Apr – 30 June 2022
Hong Leong Bank
(eFixed Deposit/eFixed Deposit-i Promotion)
– 2.15 (3 months; for deposits made between 1 – 17 Apr and 1 – 30 June)

– 2.00 (3 months; for deposits made between 18 Apr – 31 May)

– 2.25 (6 months)

– 2.35 (12 months)

– 2.50 (18 months)

– 2.75 (24 months)

RM10,000RM200,000 – 3  months

– 6 months

– 12 months

– 18 months

– 24 months
1 Apr – 30 June 2022
Hong Leong Bank
(Raya 2022 eFD/eFD-i promo – only for customers who have not opened an online FD account with HLB before)
2.00RM500RM200,0003 months18 Apr – 31 May 2022
Hong Leong Bank
(FD & CASA Bundle promotion – requires customers to have selected current/savings account)
3.05RM100,000RM10 million12 months4 Apr – 30 June 2022
Public Bank
(PB eFD via FPX campaign)
– 2.30 (6 months)

– 2.35 (9 months)

– 2.40 (12 months)
RM5,000RM2 million – 6 months

– 9 months

– 12 months
1 Jan – 30 Apr 2022
Public Bank
(FD/TD-i Campaign – applicable to PB Golden 50 PLUS Fixed Deposit Account, PLUS Fixed Deposit, and Term Deposit-i)
PB Golden 50 PLUS FD Account
– 2.30 (6 months)
– 2.35 (9 months)
– 2.40 (12 months)

PLUS FD/Term Deposit-i
– 2.25 (6 months)
– 2.30 (9 months)
– 2.35 (12 months)
RM5,000RM10 million– 3 months

– 6 months

– 12 months
1 Jan – 30 Apr 2022
RHB Bank
(Term Deposit offer)
– 2.50 (over the counter)

– 2.53 (through FPX or i-Transfer)
RM10,000Up to RM200,000 (for FPX), or limit provided by bank12 months11 Apr – 31 May 2022

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 the MBSB Junior Term Deposit-i (2.15% for 12-month tenure).
  • Meanwhile, senior applicants can apply for the Agrobank Fixed Return Investment Account-i 45 Plus (1.90% for 12-month tenure).
  • The highest interest rate recorded in this month’s round-up is 2.15% (MBSB Bank; 12-month FD), whereas the lowest stood at 1.60% (AmBank Islamic; 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 NameProduct NameMinimum DepositInterest/Profit Rate Profit on RM10,000Depositor’s Insurance
Bank RakyatBank Rakyat Term Deposit Account-iRM5001.75%RM14.58Malaysian Govt
Bank of Nova ScotiaBank of Nova Scotia Fixed DepositRM1,0001.70%RM14.17PIDM
Bank of ChinaBank of China Fixed DepositRM1,0001.65%RM13.75PIDM
AgrobankAgrobank Fixed Return Investment Account-iRM1,0001.62%RM13.50Malaysian Govt
AmBank IslamicAmBank Islamic Term Deposit-iRM5001.60%RM13.34PIDM

Top 3-month FD rates in Malaysia

Bank NameProduct NameMinimum DepositInterest/Profit Rate Profit on RM10,000Depositor’s Insurance
MBSB BankMBSB Term Deposit-iRM5001.85%RM46.25PIDM
Bank Simpanan NasionalBSN Term Deposit-iRM5001.80%RM45.00PIDM
Bank of ChinaBank of China Fixed DepositRM1,0001.75%RM43.75PIDM
Alliance BankAlliance Bank Fixed DepositRM5001.70%RM42.50PIDM
AmBankAmBank Conventional Fixed DepositRM5001.65%RM41.25PIDM

Top 6-month FD rates in Malaysia

Bank NameProduct NameMinimum DepositInterest/Profit Rate Profit on RM10,000Depositor’s Insurance
Bank RakyatBank Rakyat Term Deposit Account-iRM5002.00%RM100.00Malaysian Govt
Bank MuamalatBank Muamalat Fixed Term Account-iRM1,0001.95%RM97.50PIDM
Bank Simpanan NasionalBSN Term DepositRM5001.85%RM92.50PIDM
RHB IslamicRHB Islamic Commodity Murabahah Deposit-iRM1,0001.80%RM90.00PIDM
AgrobankAgrobank Fixed Return Investment Account-iRM1,0001.79%RM89.50Malaysian Govt

Top 9-month FD rates in Malaysia

Bank NameProduct NameMinimum DepositInterest/Profit Rate Profit on RM10,000Depositor’s Insurance
Bank RakyatBank Rakyat Term Deposit Account-iRM5002.05%RM153.75Malaysian Govt
Bank MuamalatBank Muamalat Fixed Term Account-iRM1,0001.95%RM146.25PIDM
Bank Simpanan NasionalBSN Term Deposit-iRM5001.90%RM142.50PIDM
AgrobankAgrobank Fixed Return Investment Account-iRM1,0001.83%RM137.25Malaysian Govt
MaybankMaybank Fixed DepositRM1,0001.80%RM135.00PIDM

Top 12-month FD rates in Malaysia

Bank NameProduct NameMinimum DepositInterest/Profit Rate Profit on RM10,000Depositor’s Insurance
MBSB BankMBSB Junior Term Deposit-iRM5002.15%RM215.00PIDM
Bank MuamalatBank Muamalat Fixed Term Account-iRM1,0002.05%RM205.00PIDM
AgrobankAgrobank Fixed Return Investment Account-i 45 PlusRM1,0001.90%RM190.00Malaysian Govt
Public BankPublic Bank eFixed DepositRM1,0001.85%RM185.00PIDM
Al Rajhi BankAl Rajhi Term Deposit-iRM5001.80%RM180.00PIDM

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!

4.4 56 votes
Article Rating

SHARE

Comments (16)

Subscribe
Notify of
16 Comments
Inline Feedbacks
View all comments
Martin
1 year ago

I am retiring soon. Looking to park my pension Rm2m approx in a safe product with monthly devidents of Rm8k.
Any ideas?

Kasman Muslimin
10 months ago
Reply to  Martin

Public Mutual have product called unit trust money market which provide dividend every month with no sales charge, if you interested to know further, let me know. I’m please to help

CK LIM
7 months ago
Reply to  Martin

You better off stick with EPF, which gives about 100k annual return which you want to.

mugun
2 months ago
Reply to  CK LIM

He need monthly withdraw ….EPF can withdraw monthly?

Anonymous
1 month ago
Reply to  mugun

Yes you can request monthly withdrawal.

Patrick Liew
1 year ago

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

Sasa
1 year ago

ambank got new promo 2.98% 9 months until year end only

ALAN CONRAD CHEONG CHI LOONG
1 year ago

Hi, is the OCBC FD rate 2.9% until the end of Dec 2020?

Jessie
10 months ago

Hi, what is the interest rate in Public Mutual unit trust money market ?

Arultharuman
5 months ago
Reply to  Jessie

For 200’000 rm pls inform public mutual interest rate

lim
3 months ago
Reply to  Jessie

local banks gives pathetic interest rate. Where else overseas investment s gives 6 to 7 precent per month!!!

Anonymous
3 months ago

Hi is it possible to put 1bil in FD for 12months?

Jan
3 months ago

Hi, for the top 1 month FD rates, is no. 1 Bank Rakyat or Bank Muamalat? Thank you.

Philip Lee
2 months ago

Latest updated & promo FD term rate.
Thank you.

jessy
2 months ago

hi there, pls advise best bank interest FD rates for RM 50K or RM 100K for 2 years, pls share

chookn
21 days ago

How about UOB?

Top Banking Articles
Post Image
Best Fixed Deposit Accounts In Malaysia – May 2022
The RinggitPlus Team
- 29th April 2022
We provide monthly updates on the best fixed deposit rates in Malaysia with tables showing the top 5 rates for the duration of 1, 3, 6, 9, and 12 months.
Post Image
Best High Interest Savings Accounts In Malaysia (March 2022)
Pang Tun Yau
- 9th March 2022
Make your money work for you by depositing them into the best high-interest savings accounts in Malaysia!
Post Image
Frequently Asked Questions About Credit Cards
Guo Heng
- 28th June 2018
Do you have questions about credit cards or are you looking to apply for your first credit card? Check out our FAQ on credit cards for all the need-to-know information.
Post Image
Old Malaysian Ringgit Notes and Coins Are Worth More Than You Think
Gavin Pereira
- 24th January 2019
Through the years there have been certain denominations of our Malaysian Ringgit that has been discontinued. Do you have any of these? It may be worth a lot now.

Related articles

Related Posts Image
Related Posts Image
Related Posts Image
Related Posts Image