Best Fixed Deposit Accounts In Malaysia - March 2023
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Last update: 1 March 2023

Best Fixed Deposit Promos – March 2023

BankEffective Rate (% p.a.)Minimum DepositMaximum DepositTenurePromotion Period
Alliance Bank
(Investment & FD Bundle campaign – requires customers to invest in selected unit trust products)
7.25RM1,000Up to one time of invested unit trust amount3 months1 Oct 2022 – 31 Mar 2023
Alliance Bank
(Bancassurance & FD Bundle campaign – requires customers to purchase selected bancassurance products)
– 8.25 (products with minimum annualised premium of RM50,000)

– 6.25 (products with minimum annualised premium of RM10,000)
RM1,000Up to one time of annualised premium amount of purchased product6 months1 Oct 2022 – 31 Mar 2023
Alliance Bank
(New Investor Campaign – unit trust and FD bundle)
9.25RM1,000Up to one time of the invested unit trust amount3 months1 Oct 2022 – 31 Mar 2023
AmBank
(FD/TD-i promo – requires customers to sign up for current/savings accounts)
Bundle A (50:50)
AmBank SIGNATURE
Priority Banking

– 6.55 (6 months)
– 6.95 (12 months)

New-to-Priority Individual
– 6.60 (6 months)
– 7.00 (12 months)

Bundle B (70:30)
Individual
– 5.10 (6 months)
– 5.40 (12 months)

AmWafeeq Savings Account-i
– 5.15 (6 months)
– 5.45 (12 months)

AmBank SIGNATURE
Priority Banking

– 5.20 (6 months)
– 5.50 (12 months)

New-to-Priority Individual
– 5.25 (6 months)
– 5.55 (12 months)
RM10,000
– RM1 million (for all except AmWafeeq Savings Account-i customers, who do not have capping)– 6 months

– 12 months
8 Nov 2022 – 31 Mar 2023
Bank Simpanan Nasional
(BSN Term Deposit-i Senior campaign – customers must be aged 50 years and above)
– 2.65 (1 month)

– 2.95 (3 months)

– 3.00 (6 months)

– 3.05 (9 months)
RM1,000N/A– 1 month

– 3 months

– 6 months

– 9 months
17 Dec 2022 – 31 Mar 2023
Bank Simpanan Nasional
(Term Deposit-i bundle with BSN SSP Platinum promo – requires customers to tap into BSN SSP Platinum products)
5.88RM3,500N/A6 months15 Feb – 15 Aug 2023
CIMB Bank
(FD/FRIA-i: CNY campaign)
– 3.58 (3 months)

– 3.98 (8 months)

– 4.20 (12 months)
RM1,000N/A– 3  months

– 8 months

– 12 months
30 Jan – 14 Mar 2023
Hong Leong Bank
(eFixed Deposit/-i promo)
– 3.68 (3 months)

– 3.90 (6 months)

– 3.85 (12, 18, and 24 months)
RM10,000RM200,000 – 3  months

– 6 months

– 12 months

– 18 months

– 24 months
16 Feb – 31 Mar 2023
MBSB Bank
(CNY TD-i campaign)
– 4.10 (6 months)

– 4.25 (12 months)

– 4.30 (15 months)
– RM10,000 (fresh funds)

– Additional RM10,000 (roll over)

* New customers can also deposit RM50,000 to enjoy campaign rate and stand a chance to win cash prizes
N/A– 6 months

– 12 months

– 15 months
20 Jan – 31 Mar 2023
OCBC Bank
(Fixed Deposit/-i promo)
– 3.80 (6 months)

– 3.95 (13 months)
RM1,000N/A– 6 months

– 13 months
6 Feb – 30 Apr 2023
Public Bank
(PB RCB Special FD/TD-i campaign – Red Carpet Banking customers are required to maintain a minimum
aggregated deposit amount)
RCB Gold
– 3.65 (3 months)
– 3.90 (6 months)
– 3.95 (9 months)
– 4.05 (12 months)

RCB Elite
– 3.70 (3 months)
– 3.95 (6 months)
– 4.00 (9 months)
– 4.10 (12 months)
RM10,000RM10 million– 3 months

– 6 months

– 9 months

– 12 months
1 Jan – 31 Mar 2023
Public Bank
(PB FD Bonanza campaign – only for PLUS Fixed Deposits)
– 3.90 (15 months)

– 3.80 (18 months)
RM5,000 per receiptRM10 million per customer– 15 months

– 18 months
1 Jan – 31 Mar 2023
Public Bank
(PB Special Fixed Deposit campaign)
PB Golden 50 PLUS Fixed Deposit Account
– 3.65 (3 months)
– 3.90 (6 months)
– 3.95 (9 months)
– 4.05 (12 months)

PLUS Fixed Deposit
– 3.60 (3 months)
– 3.85 (6 months)
– 3.90 (9 months)
– 4.00 (12 months)
RM5,000 per receiptRM10 million per customer– 3 months

– 6 months

– 9 months

– 12 months
1 Jan – 31 Mar 2023
Public Bank
(eFD via FPX campaign)
– 3.65 (3 months)

– 3.90 (6 months)

– 3.95 (9 months)

– 4.05 (12 months)
RM5,000RM2 million (per eFD account)– 3 months

– 6 months

– 9 months

– 12 months
1 Jan – 31 Mar 2023

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.
  • Junior savers can opt for MBSB Junior Term Deposit-i (2.75% for 1-month tenure).
  • Meanwhile, senior savers will be able to tap into BSN Term Deposit-i Senior Citizen (3.25% for 12-month tenure).
  • The highest interest rate recorded in this month’s round-up is 3.30% (Agrobank; 12-month FD), whereas the lowest stood at 2.50% (CIMB Bank; 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 Junior Term Deposit-iRM5002.75%RM22.92PIDM
Bank MuamalatBank Muamalat Fixed Term Account-iRM1,0002.70%RM22.50PIDM
Bank of ChinaBank of China Fixed Deposit AccountRM1,0002.65%RM22.08PIDM
AgrobankAgrobank Fixed Return Investment Account-iRM1,0002.60%RM21.67Malaysian Govt
CIMB BankCIMB Unfixed DepositRM1,0002.50%RM20.83PIDM

Top 3-month FD rates in Malaysia

Bank NameProduct NameMinimum DepositInterest/Profit Rate Profit on RM10,000Depositor’s Insurance
Bank Simpanan Nasional BSN Term DepositRM5002.80%RM70.00PIDM
Maybank Maybank eFixed DepositRM1,0002.70%RM67.50PIDM
Public BankPublic Bank PLUS Fixed Deposit AccountRM1,0002.65%RM66.25PIDM
RHB BankRHB Ordinary Fixed DepositRM5002.55%RM63.75PIDM
HSBC Amanah BankHSBC Amanah Term Deposit-iRM1,0002.50%RM62.50PIDM

Top 6-month FD rates in Malaysia

Bank NameProduct NameMinimum DepositInterest/Profit Rate Profit on RM10,000Depositor’s Insurance
Agrobank Agrobank Fixed Return Investment Account-iRM1,0003.10% RM155.00Malaysian Govt
Bank RakyatBank Rakyat Term Deposit Account-iRM5003.00%RM150.00Malaysian Govt
Bank MuamalatBank Muamalat Fixed Term Account-iRM1,0002.95%RM147.50PIDM
India International BankIndia International Bank Fixed DepositRM1,0002.80%RM140.00PIDM
Public BankPublic Bank eFixed DepositRM1,0002.75%RM137.50PIDM

Top 9-month FD rates in Malaysia

Bank NameProduct NameMinimum DepositInterest/Profit Rate Profit on RM10,000Depositor’s Insurance
AgrobankAgrobank Fixed Return Investment Account-iRM1,0003.20%RM240.00Malaysian Govt
Bank RakyatBank Rakyat Term Deposit Account-iRM5003.05%RM228.75Malaysian Govt
Bank MuamalatBank Muamalat Fixed Term Account-iRM1,0002.95%RM221.25PIDM
Alliance BankAlliance Bank Fixed Deposit RM5002.80%RM210.00PIDM
RHB BankRHB Islamic Commodity Murabahah Deposit-iRM1,0002.75%RM206.25PIDM

Top 12-month FD rates in Malaysia

Bank NameProduct NameMinimum DepositInterest/Profit Rate Profit on RM10,000Depositor’s Insurance
AgrobankAgrobank Fixed Return Investment Account-iRM1,0003.30%RM330.00Malaysian Govt
Bank Simpanan Nasional BSN Term Deposit Senior CitizenRM5,0003.25%RM325.00PIDM
MBSB Bank MBSB Term Deposit-iRM5003.15%RM315.00PIDM
Bank Simpanan NasionalBSN Term DepositRM5003.10%RM310.00PIDM
Bank MuamalatBank Muamalat Fixed Term Account-iRM1,0003.05%RM305.00PIDM

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
2 years 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
1 year 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

Anonymous
4 months ago

what is the name of the fund??

CK LIM
1 year ago
Reply to  Martin

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

mugun
1 year ago
Reply to  CK LIM

He need monthly withdraw ….EPF can withdraw monthly?

Anonymous
11 months ago
Reply to  mugun

Yes you can request monthly withdrawal.

Anonymous
8 months ago
Reply to  mugun

Can

Anonymous
7 months ago
Reply to  mugun

He can coz he is a retiree soon

Anonymous
2 months ago
Reply to  mugun

Can be arranged with EPF .

Helen Mee Tsin Ryder
9 months ago
Reply to  CK LIM

Epf only accept RM60k voluntary contribution annually only… not 2M. There is no way RM8000/month with RM2M. Unless you are good in stock market. Equity and unit trusts bonds all depreciating in this pandemic period. No interests incomes can be fixed. Except conventional bank FD only. Interest rates are still very low.

Azizan
5 months ago

Got.
There are a few depending on your risk appetite.

Anonymous
18 days ago
Reply to  CK LIM

U cannot deposit 2m

James
6 months ago
Reply to  Martin

If u can have 2m pension but don’t know where to park it.. U likely don’t belong to blue collar group and not have the 2m

Nalni Parthipan
6 months ago
Reply to  Martin

All Banks and Insurance companies are regulated under BNM, instead insurance one step forwards not only given dividends and Interest . Perhaps given coverage as well.

Azizan
5 months ago

Rule of thumb: Insurance/Takaful meant for coverage purposes not investment.
Yeah, there are product linked to the investment platform, but still cannot rely there to get good profits.

Anonymous
27 days ago
Reply to  Martin

Uncle go buy ETF…average 7-10% p.a.
or leave it in EPF average 6%/p.a. roughly 120K/yr
low risk and reasonable return
or go buy a few 300k house and collect rent..reasonable yield and future house appreciation.

Good luck

Patrick Liew
2 years ago

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

Sasa
2 years ago

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

ALAN CONRAD CHEONG CHI LOONG
2 years ago

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

Jessie
1 year ago

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

Arultharuman
1 year ago
Reply to  Jessie

For 200’000 rm pls inform public mutual interest rate

lim
1 year ago
Reply to  Jessie

local banks gives pathetic interest rate. Where else overseas investment s gives 6 to 7 precent per month!!!

Anonymous
6 months ago
Reply to  lim

Park inside EPF.

Anonymous
5 months ago
Reply to  lim

yah – Japan offers close to zero rate

Anonymous
3 months ago
Reply to  lim

pakistan with 14% interest rate lol

Anonymous
1 year ago

Hi is it possible to put 1bil in FD for 12months?

Jan
1 year ago

Hi, for the top 1 month FD rates, is no. 1 Bank Rakyat or Bank Muamalat? Thank you.

Philip Lee
1 year ago

Latest updated & promo FD term rate.
Thank you.

jessy
1 year ago

hi there, pls advise best bank interest FD rates for RM 50K or RM 100K for 2 years, pls share

chookn
10 months ago

How about UOB?

Anonymous
1 month ago
Reply to  chookn

uob has good rate.with monthly interest payout..

Pat Liew
9 months ago

The best FD rate bank offer ?

Anonymous
7 months ago

Affin has good promotional 6,9,12m FD rate too(I can’t find online, but visible when I apply new FD).

Anonymous
6 months ago
Reply to  Anonymous

Why considering FD where you have the EPF who offers 6% annually?

Anonymous
4 months ago
Reply to  Anonymous

because FD is not liquid enough la

Anonymous
6 months ago

MBSB bank giving 3.6% on 12M basis

Shu Jean
5 months ago

The FD interest rate is higher now

amad663
3 months ago
Reply to  Shu Jean

Yup maybank offer as high as 3.85% for fresh funds. Crazy deals !!

Captain Jack Sparrow
3 months ago

Acquire a shop house and rent it out. Make sure the rental can generate RM8k a month.

Anonymous
3 months ago

better return rate if buying a factory lot

nis
3 months ago

If I’m nit mistaken maybank has other promos to like fresh funds (28/11-7/12) and their rates are superb

Pang Tun Yau
3 months ago
Reply to  nis

Yup, saw the flash deal. Keep an eye out for our updated FD promo for December post tomorrow!

dania
3 months ago
Reply to  nis

that one with 3.85%? yeaaaa that deal is very tempting, might place funds on maybank soon

Lmp
3 months ago
Reply to  dania

Deal for 6 months

Bathe
2 months ago
Reply to  Lmp

AM Bank 4.5 for 18mnths

ENCIK NIK
3 months ago

I AM SO HAPPY FOR THE DETAILS FIX DEPOSIT INFORMATION AND I ANALYSIS FIRST ,THANK YOU.

G.P
2 months ago

Which is best investment platform FD or Unit trust? with low risk

Ren
2 months ago

Hi Agrobank have promo until 24/2/2023. 4.25% for 12 months, 4.1% for 6 months.

Pat
1 month ago
Reply to  Ren

Are all the banks now asking to register CRS before u can place a fix deposit ? And why ?

Shirley Erndt
2 months ago

Life is too short the world is wide.. I would’ve spent some.

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