Best Fixed Deposit Accounts In Malaysia - September 2021
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Best Fixed Deposit Accounts In Malaysia

Last update: 1 September 2021

Best Fixed Deposit Promos – September 2021

BankEffective Rate (% p.a.)Minimum DepositMaximum DepositTenurePromotion Period
Alliance Bank
(Cash Oh Cash eFD Campaign – requires customers to open an Alliance SavePlus account)
2.40RM1,000N/A (until total allocation has been reached)12 months1 Aug – 31 Oct 2021
Alliance Bank
(Alliance Privilege Welcome Offer – requires customers to join Alliance Privilege)
3.00RM1,000RM100,0003 months1 July – 31 Oct 2021
Alliance Bank
(Alliance Privilege UT Combo – requires customers to invest RM50,000 in selected unit trust products)
5.50RM1,000Up to one time of the invested minimum UT amount3 months15 June 2021 – 31 Mar 2022
AmBank
(FD/TD-i and CASA Combined Promotion – requires customers to also deposit money in current/savings account)
– 2.75 (Individual customers)

– 2.88 (AmBank SIGNATURE Priority Banking customers)

– 2.80 (AmWafeeq Savings accountholders)
RM10,000– RM2 million

– No cap (only for AmWafeeq Savings accountholders)
9 months7 Aug – 31 Oct 2021
Bank Muamalat
(FTA-i Special Rates Campaign)
– 2.40 (3 months)

– 2.45 (6 months)

– 2.50 (9 months)

– 2.60 (12 months)

– 2.80 (18 months)
RM5,000Subject to capping limit for each tenure– 3 months

– 6 months

– 9 months

– 12 months

– 18 months
1 Aug – 31 Dec 2021
CIMB Bank
(CIMB Fixed Return Income Account-i via CIMB Clicks Promo)
– 2.00 (3 months)

– 2.10 (6 months)

– 2.15 (12 months)
RM5,000N/A– 3 months

– 6 months

– 12 months
2 June – 9 Sept 2021
Hong Leong Bank
(Step Up Fixed Deposit Promotion)
– 2.00 (1 to 2 months)

– 2.30 (3 to 4 months)

– 2.90 (5 to 6 months)
RM10,000RM5 million– 1 to 2  months

– 3 to 4 months

– 5 to 6 months
1 Aug – 30 Sept 2021
Hong Leong Bank
(eFixed Deposit/eFixed Deposit-i Promotion)
– 2.30 (3 months)

– 2.35 (6 months)

– 2.40 (12, 18, 24 months)
RM10,000RM2 million– 3  months

– 6 months

– 12 months

– 18 months

– 24 months
1 Aug – 30 Sept 2021
Hong Leong Bank
(2021 New-To-Priority Banking Campaign – requires customers to be a Priority banking customer and bundle with current/savings accounts)
4.00RM100,000N/A3 months1 Sept 2021 – 31 Jan 2022
Hong Leong Bank
(Exclusive Promo For Aged 50 And Above)
3.00RM10,000RM50,0001 month1 Sept 2021 – 31 Jan 2022
Public Bank
(PB eFD via FPX campaign)
– 2.00 (1 month)

– 2.10 (2 months)

– 2.20 (3 months)
RM5,000RM2 million– 1  month

– 2 months

– 3 months
1 July – 30 Sept 2021
Public Bank
(PB Journey Golden Savers Campaign – requires customers to also have/open a savings account)
– 2.20 (6 months)

– 2.30 (9 months)
RM5,000RM5 million– 6 months

– 9 months
1 July – 31 Dec 2021
UOB
(Digital Account Opening Campaign)
– 3.38 to 3.68 (2 months)

– 3.17 to 3.52 (4 months)
RM50,000N/A– 2 months

– 4 months
1 May – 31 Dec 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.
  • Bank Rakyat dominates across the board, offering high interest rates for FD with 1-month, 3-month, and 9-month tenures.
  • Junior savers can opt for MBSB Junior Term Deposit-i (2.05% for 9-month tenure) for a relatively good profit rate.
  • Meanwhile, senior applicants at the age of 45 years old and above can apply for Agrobank 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 1.65% (Kuwait Finance House Malaysia; 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-iRM5001.85%RM15.42Malaysian Govt
Bank MuamalatBank Muamalat Fixed Term Account-iRM1,0001.80%RM15.00PIDM
Bank Simpanan NasionalBSN Term DepositRM5001.75%RM14.58PIDM
Al Rajhi BankAl Rajhi Term Deposit-iRM5001.70%RM14.17PIDM
Kuwait Finance House MalaysiaKFH Junior International Commodity Murabahah Deposit-iRM1,0001.65%RM13.75PIDM

Top 3-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%RM50.00Malaysian Govt
AgrobankAgrobank Fixed Return Investment Account-iRM1,0001.90%RM47.50 Malaysian Govt
Bank MuamalatBank Muamalat Fixed Term Account-iRM1,0001.85%RM46.25PIDM
Bank of ChinaBank of China Fixed Deposit AccountRM1,0001.75%RM43.75PIDM
Public BankPublic Bank eFixed DepositRM1,0001.70%RM42.40PIDM

Top 6-month FD rates in Malaysia

Bank NameProduct NameMinimum DepositInterest/Profit Rate Profit on RM10,000Depositor’s Insurance
AgrobankAgrobank Fixed Return Investment Account-i 45 PlusRM1,0002.00%RM100.00Malaysian Govt
MBSB BankMBSB Term Deposit-iRM5001.95%RM97.50PIDM
Bank Simpanan NasionalBSN Term DepositRM5001.85%RM92.50PIDM
MaybankMaybank Fixed DepositRM1,0001.80%RM90.00PIDM
Bank IslamBank Islam Term Deposit-iRM5001.75%RM87.50PIDM

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-iRM5002,20%RM165.00Malaysian Govt
AgrobankAgrobank Fixed Return Investment Account-iRM1,0002.10%RM157.50Malaysian Govt
MSBS BankMBSB Junior Term Deposit-iRM5002.05%RM153.75PIDM
Bank Simpanan NasionalBSN Term Deposit-iRM5001.90%RM142.50PIDM
Bank of Nova ScotiaBank of Nova Scotia 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
Kuwait Finance House MalaysiaKFH International Commodity Murabahah Deposit-iRM1,0002.40%RM240.00PIDM
AgrobankAgrobank Fixed Return Investment Account-iRM1,0002.35%RM235.00Malaysian Govt
Bank Simpanan NasionalBSN Term DepositRM5002.20%RM220.00PIDM
Al Rajhi BankAl Rajhi Term Deposit-iRM5002.00%RM200.00PIDM
Alliance BankAlliance Bank Fixed DepositRM5001.85%RM185.00PIDM

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!

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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
2 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

Patrick Liew
1 year ago

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

Sasa
10 months ago

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

ALAN CONRAD CHEONG CHI LOONG
9 months ago

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

Jessie
2 months ago

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

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