Best Fixed Deposit Accounts In Malaysia

by The RinggitPlus Team

Fixed Deposits

Best Fixed Deposit Accounts In Malaysia

Last update: 4 November 2019

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

  • The CIMB Unfixed Deposit of 4.7% (3 months) promo has ended.
  • RHB Islamic Commodity Murabahah Deposit-i made has more appearances in the top fixed deposit rates this month. 
  • Overall rates for this month is consistent with no large changes compared to last month. 

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?
Bank Rakyat Bank Rakyat Term Deposit Account-i RM5,000 3.25% RM27.00 -
RHB Islamic Bank RHB Islamic Commodity Murabahah Deposit-i RM1,000 3.20% RM26.60 PIDM
MBSB Bank MBSB Term Deposit-i RM500 3.10% RM25.80 PIDM
India International Bank India International Bank Fixed Deposit RM5,000 3.05% RM25.40 PIDM
BSN BSN Term Deposit RM1,000 3.00% RM25.00 -
Top 3-month FD rates in Malaysia
Bank Name Product Name Minimum Deposit Interest/Profit Rate Profit on RM10,000 Depositor's Insurance? 
Affin Bank Affin FDPLUS2 RM500 3.60% RM90.00 PIDM
Bank Rakyat Bank Rakyat Term Deposit Account-i RM500 3.40% RM85.00 -
RHB Islamic Bank RHB Islamic Commodity Murabahah Deposit-i RM1,000 3.25% RM81.20 PIDM
Agrobank Agrobank Fixed Return Investment Account-i RM1,000 3.15% RM78.80 -
Bank Muamalat Bank Muamalat Fixed Term Account-i RM1,000 3.10% RM77.60 PIDM
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-iRM5003.55%RM177.60-
RHB Islamic BankRHB Islamic Commodity Murabahah Deposit-iRM1,0003.30%RM165.00PIDM
AgrobankAgrobank Fixed Return Investment Account-I 45 PlusRM1,0003.25%RM162.60-
Kuwait Finance HouseKFH International Commodity Murabahah Deposit-iRM5003.20%RM160.00PIDM
AmBankAmBank Conventional Fixed DepositRM5003.15%RM157.60PIDM
Top 9-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 3.60% RM270.00 -
Agro Bank Agrobank Fixed Return Investment Account-i RM1,000 3.35% RM251.20 -
RHB Islamic Bank RHB Islamic Commodity Murabahah Deposit-i RM1,000 3.30% RM247.60 PIDM
Affin BankAffin Bank Fixed Deposit RM500 3.25% RM243.80 PIDM
Bank Muamalat Bank Muamalat Fixed Term Account-iRM1,000 3.20% RM240.00 PIDM
Top 12-month FD rates in Malaysia
Bank Name Product Name Minimum Deposit Interest/Profit Rate Profit on RM10,000 Depositor's Insurance?
Affin Bank Affin Bank Fixed Deposit RM500 3.90% RM390.00 PIDM
Bank Rakyat Bank Rakyat Term Deposit Account-i RM500 3.80% RM380.00 -
Kuwait Finance House KFH Junior International Commodity Murabahah Deposit-i RM1,000 3.75% RM375.00 PIDM
Agrobank  Agrobank Fixed Return Investment Account-i 45 Plus RM1,000 3.65% RM365.00 -
BSN BSN Term Deposit RM500 3.45% RM345.00 -

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!