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

Last update: 1 October 2021

Best Fixed Deposit Promos – October 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
(eTD-i via FPX Promo – requires customer to key in promo code “BEST6”)
2.40RM10,000RM200,000 or maximum limit of customer’s bank6 months20 Sept – 31 Oct 2021
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 (Web/Desktop Only) Promo)
– 2.10 (3 months)

– 2.20 (6 months)

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

– 6 months

– 12 months
27 Sept – 3 Nov 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 Oct – 31 Dec 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 Oct – 31 Dec 2021
Hong Leong Bank
(eFD/eFD-i Promo – for new eFD customers only)
2.45RM1,000RM100,0006 months1 Oct – 31 Dec 2021
Hong Leong Bank
(FD Bundle With Current Or Savings Account Promo – requires customers to also deposit money into current/savings account)
3.05RM100,000RM5 million12 months1 Oct – 31 Dec 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 Oct – 31 Dec 2021
Public Bank
(FD/TD-i Campaign)
– 2.08 (3 months)

– 2.28 (8 months)
RM10,000RM10 million– 3 months

– 8 months
1 July – 31 Dec 2021
Public Bank
(PB Journey Junior Savers Campaign – requires customers to have a WISE savings account and a PLUS FD account)
– 2.10 (over-the-counter deposits)

– 2.18 (deposits made through PB Journey app)
RM5,000RM5 million– 4 months2 Aug – 30 Nov 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 – requires customers to also have/open a savings account via UOB Mighty app)
– 2.60RM10,000RM500,000– 12 months26 July – 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) or the KFH Junior International Commodity Murabahah Deposit-i (1.65% for 1-month tenure) for a relatively good profit rate.
  • Meanwhile, senior applicants can apply for Agrobank Fixed Return Investment Account-i 45 Plus (2.35% for 12-month tenure) or the BSN Term Deposit Senior Citizen (2.10% for 12-month tenure). Note that BSN Term Deposit Senior Citizen has a higher minimum deposit requirement of RM5,000.
  • The highest interest rate recorded in this month’s round-up is 2.40% (Bank Rakyat; 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 NameProduct NameMinimum DepositInterest/Profit Rate Profit on RM10,000Depositor’s Insurance
MBSB BankMBSB Term Deposit-iRM5001.85%RM15.42PIDM
AgrobankAgrobank Fixed Return Investment Account-iRM1,0001.80%RM15.00Malaysian Govt
Bank of Nova ScotiaBank of Nova Scotia Fixed DepositRM1,0001.70%RM14.17PIDM
Kuwait Finance House MalaysiaKFH Junior International Commodity Murabahah Deposit-iRM1,0001.65%RM13.75PIDM
AmBankAmBank Conventional Fixed DepositRM5001.60%RM13.33PIDM

Top 3-month FD rates in Malaysia

Bank NameProduct NameMinimum DepositInterest/Profit Rate Profit on RM10,000Depositor’s Insurance
Bank Simpanan NasionalBSN Term DepositRM5001.80%RM50.00PIDM
Bank of ChinaBank of China Fixed Deposit AccountRM1,0001.75%RM43.75PIDM
Public BankPublic Bank eFixed DepositRM1,0001.70%RM42.40PIDM
Affin BankAffin Bank Fixed DepositRM5001.65%RM41.25PIDM
Maybank Islamic BankMaybank Islamic Prosperous Now! Account-iRM1,0001.60%RM40.00PIDM

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-iRM5002.15%RM107.50Malaysian Govt
AgrobankAgrobank Fixed Return Investment Account-iRM1,0002.05%RM102.50Malaysian Govt
Bank MuamalatBank Muamalat Fixed Term Account-iRM1,0001.95%RM97.50PIDM
Al Rajhi BankAl Rajhi Term Deposit-iRM5001.85%RM92.50PIDM
RHB BankRHB Ordinary Fixed DepositRM5001.80%RM90.00PIDM

Top 9-month FD rates in Malaysia

Bank NameProduct NameMinimum DepositInterest/Profit Rate Profit on RM10,000Depositor’s Insurance
MBSB BankMBSB Junior Term Deposit-iRM5002.05%RM153.75PIDM
Bank MuamalatBank Muamalat Fixed Term Account-iRM1,0001.95%RM146.25PIDM
Al Rajhi BankAl Rajhi Term Deposit-iRM5001.90%RM142.50PIDM
Kuwait Finance House MalaysiaKFH International Commodity Murabahah Deposit-iRM5001.85%RM138.75PIDM
CIMB BankCIMB Unfixed DepositRM1,0001.80%RM135.00PIDM

Top 12-month FD rates in Malaysia

Bank NameProduct NameMinimum DepositInterest/Profit Rate Profit on RM10,000Depositor’s Insurance
Bank RakyatBank Rakyat Term Deposit Account-iRM5002.40%RM240.00Malaysian Govt
AgrobankAgrobank Fixed Return Investment Account-i 45 PlusRM1,0002.35%RM235.00Malaysian Govt
MBSB BankMBSB Term Deposit-iRM5002.15%RM215.00PIDM
Bank Simpanan NasionalBSN Term Deposit Senior CitizenRM5,0002.10%RM210.00PIDM
Bank MuamalatBank Muamalat Fixed Term Account-iRM1,0002.05%RM205.00PIDM

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
3 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
17 days ago
Reply to  Martin

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

Patrick Liew
1 year ago

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

Sasa
11 months ago

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

ALAN CONRAD CHEONG CHI LOONG
10 months ago

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

Jessie
3 months ago

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

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