Best Fixed Deposit Accounts In Malaysia

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.

 

Best Fixed Deposit Accounts In Malaysia

Last update: 1 September 2020

Best Fixed Deposit Promos – September 2020

 

Bank Effective Rate (% p.a.) Minimum Deposit Maximum Deposit Tenure Promotion Period
Affin Bank 
(eFD via Online Promotion)
– 2.40 (3 months)

– 2.50 (5 months)

– 2.48 (6 months)

RM10,000 RM200,000 – 3 months

– 5 months

– 6 months

28 Aug to 10 Sept 2020
Hong Leong Bank
(eFixed Deposit/eFixed Deposit-i)
2.30 RM5,000 RM2 million 3 months 1 Sept to 31 Oct 2020
OCBC Bank
(Premier Deal)
2.90 RM10,000 RM3 million 3 months 1 Apr to 31 Dec 2020
Public Bank
(Fixed Deposit/Term Deposit-i)
– 2.08 (3 months)

– 2.28 (8 months)

RM10,000 RM10 million – 3 months

– 8 months

12 Aug to 31 Oct 2020
Public Bank
(eFD via FPX Campaign)
– 2.00 (1 month)

– 2.10 (2 months)

– 2.20 (3 months)

RM5,000 RM2 million – 1 month

– 2 months

– 3 months

20 July to 30 Sept 2020
RHB Bank
(Term Deposit via Over-The-Counter/eTerm Deposit via FPX)
2.45 RM10,000 – Maximum amount for FPX transfers

– Maximum amount of transfer allowed by customer’s bank

6 months 5 Aug to 30 Sept 2020

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 across the board.
  • Kuwait Finance House continues to offer the best rate for FD products with a 12-month tenure.
  • The lowest interest rate recorded in this month’s round-up is 1.70% (Bank of Nova Scotia; 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
Al-Rajhi Bank Al-Rajhi Term Deposit-i RM500 1.95% RM16.25 PIDM
MBSB Bank MBSB Junior Term Deposit-i RM500 1.85% RM15.42 PIDM
Bank Muamalat Bank Muamalat Fixed Term Account-i RM1,000 1.80% RM15.00 PIDM
Bank Islam Bank Islam Term Deposit-i RM500 1.75% RM14.58 PIDM
Bank of Nova Scotia Bank of Nova Scotia Fixed Deposit RM1,000 1.70% RM14.17 PIDM

Top 3-month FD rates in Malaysia

Bank Name Product Name Minimum Deposit Interest/Profit Rate Profit on RM10,000 Depositor’s Insurance
Al-Rajhi Bank Al-Rajhi Term Deposit-i RM500 2.05% RM51.25 PIDM
Bank Rakyat Bank Rakyat Term Deposit Account-i RM500 2.00% RM50.00
MBSB Bank MBSB Term Deposit-i RM500 1.90% RM47.50 PIDM
India International Bank India International Bank Fixed Deposit RM1,000 1.85% RM46.25 PIDM
Affin Bank Affin Bank Fixed Deposit RM500 1.80% RM45.00 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
Al-Rajhi Bank Al-Rajhi Term Deposit-i RM500 2.10% RM105.00 PIDM
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
Affin Islamic Bank Affin Islamic Term Deposit-i RM500 1.85% RM92.50 PIDM

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 2.20% RM165.00
Agrobank Agrobank Fixed Return Investment Account-i RM1,000 2.10% RM157.50
MBSB Bank MBSB Term Deposit-i RM500 2.05% RM153.75 PIDM
Bank Simpanan Nasional BSN Term Deposit RM500 1.90% RM142.50 PIDM
Bank of China Bank of China Fixed Deposit Account RM1,000 1.85% RM138.75 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 KFH International Commodity Murabahah Deposit-i RM500 2.40% RM240.00 PIDM
Agrobank Agrobank Fixed Return Investment Account-i RM1,000 2.35% RM235.00
Al-Rajhi Bank Al-Rajhi Term Deposit-i RM500 2.25% RM225.00 PIDM
Bank Simpanan Nasional BSN Term Deposit RM500 2.20% RM220.00 PIDM
MBSB Bank MBSB Term Deposit-i RM500 2.15% RM215.00 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
1 month ago

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

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