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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