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 March 2021

Best Fixed Deposit Promos – March 2021

Bank Effective Rate (% p.a.) Minimum Deposit Maximum Deposit Tenure Promotion Period
Affin Bank
(FD/TD-i Campaign)
FD/e-FD

– 1.90 (1 month)

– 2.20 (3 months)

– 2.35 (6 and 8 months)

– 2.38 (12 months)

Affin Invikta FD

– 1.90 (1 month)

– 2.25 (3 months)

– 2.40 (6 and 8 months)

– 2.42 (12 months)

FD/e-FD

– RM10,000

Affin Invikta FD

– RM100,000

FD/eFD

– RM1 million (FD)

– RM200,000 (eFD)

Affin Invikta FD

– RM5 million

– 1 month

– 3 months

– 6 months

– 8 months

– 12 months

18 Feb to 3 Mar 2021
Alliance Bank
(2021 Wealth and Fixed Deposit Campaign
requires investment in selected unit trust funds or purchase Banca Regular Premium products)
– 20.21 (1 month)

– 6.38 (3 months)

RM1,000 N/A – 1 month

– 3 months

4 Jan to 31 Mar 2021
HSBC Premier
(Wealth and Banca Bundle Q1 2021 – requires investment in selected banca/wealth products)
– 2.88

– 4.38

– 6.38

RM50,000 N/A – 3 months 4 Jan to 31 Mar 2021
Hong Leong Bank
(FD Pledge Credit Cards Campaign – requires customers to apply for a new HLB credit card by pledging an FD)
4.00 RM2,000 RM50,000 – 3 months 1 Jan to 31 Mar 2021
Hong Leong Bank
(eFixed Deposit-i)
– 2.30 (3 months)

– 2.35 (6 months)

– 2.30 (12 months)

RM10,000 RM2 million – 3 months

– 6 months

– 12 months

8 Jan to 31 Mar 2021
Hong Leong Bank
(FD/FD-i bundle with CASA Promotion – requires customers to deposit 10% of FD amount into a current/savings account)
– 2.50

 

– RM10,000 (with RM1,000 in current/savings account)

– RM50,000 (with RM5,000 in current/savings account)

– RM100,000 (with RM10,000 in current/savings account)

– RM200,000 (with RM20,000 in current/savings account)

– RM500,000 (with RM50,000 in current/savings account)

– RM1 million (with RM100,000 in current/savings account)

– RM2 million (with RM200,000 in current/savings account)

– RM5 million (with RM500,000 in current/savings account)

N/A – 3 months

– 6 months

1 Jan to 31 Mar 2021
OCBC Bank
(Fixed Deposit Promo)
2.28 RM1,000 N/A 12 months 6 Feb to 31 Mar 2021
Public Bank
(PB Fixed Deposit/Term Deposit-i Campaign)
– 2.08 (3 months)

– 2.28 (8 months)

RM10,000 RM10 million – 3 months

– 8 months

1 Jan to 31 Mar 2021
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

1 Jan to 30 Apr 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
RHB Bank
(RHB Commodity Murabahah Deposit-i (Over-The-Counter) and e-Term Deposit)
2.35 RM10,000 Subject to limit of transfer via FPX or customer’s existing bank – 6 months

– 12 months

Over-The-Counter Offer

– 11 Jan to 31 Mar 2021

E-Term Deposit Offer

– 1 Jan to 31 Mar 2021 (6-month tenure)

– 15 Jan to 31 Mar 2021 (12 month tenure)

Standard Chartered
(Q1 2021 Banca-TD 10.88% p.a. Campaign – requires customers to invest in banca products on  a ratio of 1:1)
– 10.88 (3 months)

– 5.68 (6 months)

– 3.78 (12 months)

 

RM50,000 N/A – 3 months

– 6 months

– 12 months

1 Jan to 31 Mar 2021
Standard Chartered
(FD/TD-i 6.18% p.a. Campaign – requires customers to invest in unit trust products)
6.18 RM100,000 N/A 3 months 18 Dec 2020 to 15 Apr 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 offers the best rate for most FD products this month (1, 3, 6 and 9-month tenure). However, do take note that Bank Rakyat’s FD products are not protected by PIDM.
  • For conventional FD products, Bank Simpanan Nasional offers a competitive FD interest rate of 2.1% (12-month tenure) for senior citizens. However, customers will need to make a minimum deposit of RM5,000.
  • The highest interest rate recorded in this month’s round-up is 2.40% (KFH Malaysia; 12-month FD), whereas the lowest stood at 1.60% (AmBank; 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
Bank Rakyat Bank Rakyat Term Deposit Account-i RM500 1.85% RM15.42
Bank Muamalat Bank Muamalat Fixed Term Account-i RM1,000 1.80% RM15.00 PIDM
Bank of Nova Scotia Bank of Nova Scotia Fixed Deposit RM1,000 1.70% RM14.17 PIDM
Bank of China Bank of China Fixed Deposit Account RM1,000 1.65% RM13.75 PIDM
AmBank AmBank Conventional Fixed Deposit RM500 1.60% RM13.33 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 Rakyat Bank Rakyat Term Deposit Account-i RM500 2.00% RM50.00
Agrobank Agrobank Fixed Return Investment Account-i RM1,000 1.90% RM47.50
Bank Simpanan Nasional BSN Term Deposit RM500 1.80% RM45.00 PIDM
Affin Bank Affin Bank Fixed Deposit RM500 1.75% RM43.75 PIDM
RHB Islamic Bank RHB Islamic Commodity Murabahah Deposit-i RM1,000 1.70% RM42.50 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
Public Bank Public Bank eFixed Deposit RM1,000 1.80% RM90.00 PIDM
Bank Islam Bank Islam Term Deposit-i RM1,000 1.75% RM87.50 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
MBSB Bank MBSB Term Deposit-i RM500 2.05% RM153.75 PIDM
Kuwait Finance House Malaysia KFH International Commodity Murabahah Deposit-i RM500 1.85% RM138.75 PIDM
CIMB CIMB Unfixed Deposit RM1,000 1.80% RM135.00 PIDM
UOB 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 Junior International Commodity Murabahah Deposit-i RM1,000 2.40% RM240.00 PIDM
Bank Simpanan Nasional BSN Term Deposit Senior Citizen RM5,000 2.10% RM210.00 PIDM
Al-Rajhi Bank Al-Rajhi Term Deposit-i RM500 2.00% RM200.00 PIDM
Alliance Islamic Bank Alliance Islamic Term Deposit-i RM500 1.85% RM185.00 PIDM
Maybank Islamic Maybank Islamic Prosperous Now Account-i RM1,000 1.75% RM175.00 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
6 months ago

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

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