Best Fixed Deposit Accounts In Malaysia - June 2023
ringgitplus
6th June 2023 - 6 min read
Last update: 6 June 2023
Best Fixed Deposit Promos – June 2023
| Bank | Effective Rate (% p.a.) | Minimum Deposit | Maximum Deposit | Tenure | Promotion Period |
| Affin Bank (eFixed Deposit/eTerm Deposit-i (eFD/eTD-i) Campaign) | – 3.83 (4 months) – 3.85 (6 months) – 4.00 (9 months) – 4.10 (12 months) | RM10,000 | RM200,000 | – 4 months – 6 months – 9 months – 12 months | 1 – 30 June 2023 |
| Alliance Bank (Dash4Cash eFD promotion – requires customers to apply and activate an Alliance SavePlus Account/-i) | 4.20 | RM1,000 | RM100,000 | 12 months | 1 Apr – 30 June 2023 |
| Bank Islam (MaxCash promotion – requires customers to deposit cash into TDT and invest in Al-Awfar) | 5.90 | RM10,000 (70:30 between TDT and Al-Awfar, respectively) | N/A | 12 months | 24 Mar – 31 Dec 2023 |
| Bank Islam (TDT Extra promotion) | 4.25 (OPR + 1.5% p.a.) | RM10,000 | N/A | 12 months | 24 Mar – 31 Dec 2023 |
| Bank Simpanan Nasional (Term Deposit-i bundle with BSN SSP Platinum promo – requires customers to tap into BSN SSP Platinum products) | 5.88 | RM5,000 (70:30 between Term Deposit-i and BSN SSP Platinum, respectively) | N/A | 6 months | 15 Feb – 15 Aug 2023 |
| CIMB Bank (eFD/eFRIA-i campaign – only on CIMB Clicks website) | – 3.53 (3 months) – 3.83 (6 months) – 3.90 (12 months) | RM1,000 | N/A | – 3 months – 6 months – 12 months | 10 May – 10 July 2023 |
| Hong Leong Bank (eFixed Deposit/-i promo) | – 3.85 (3 or 12 months) – 3.90 (6 months) | RM10,000 | RM200,000 | – 3 months – 6 months – 12 months | 1 – 30 June 2023 |
| Hong Leong Bank (Branch Unit Trust & FD bundle promo – requires customers to invest in selected unit trust products) | – 9.88 (1 month) – 7.18 (3 months) | RM10,000 (FD placement amount) | N/A | – 1 month – 3 months | 5 May – 30 June 2023 |
| Hong Leong Bank (Private Banking/Priority Banking Unit Trust & FD bundle promo – for new and existing Private/Priority Banking customers, and must invest in selected unit trust products) | – 11.88 (1 month) – 8.18 (3 months) | RM25,000 (FD placement amount) | N/A | – 1 month – 3 months | 5 May – 30 June 2023 |
| Maybank (e-Islamic Fixed Deposit-i promo) | Transfer from non-Maybank acc via M2U web – 3.87 (5 months) – 3.98 (7 months) Transfer from a Maybank/Maybank Islamic acc via M2U web – 3.77 (5 months) – 3.88 (7 months) | – RM1,000 (for transfers from non-MBB acc via M2U web) – RM5,000 (for transfers from MBB/MBB Islamic acc via M2U web) | RM15 million | – 5 months – 7 months | 30 May – 26 June 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) | RM10,000 | RM10 million | – 3 months – 6 months – 9 months – 12 months | 1 Apr- 30 June 2023 |
| Public Bank (PB Special Fixed Deposit campaign – for PLUS Fixed Deposit only) | – 3.60 (3 months) – 3.85 (6 months) – 3.90 (9 months) – 4.00 (12 months) | RM5,000 per receipt | RM10 million per customer | – 3 months – 6 months – 9 months – 12 months | 1 Apr – 30 June 2023 |
| Public Bank (eFD via FPX campaign) | – 3.65 (3 months) – 3.90 (6 months) – 3.95 (9 months) – 4.05 (12 months) | RM5,000 | RM2 million (per eFD account) | – 3 months – 6 months – 9 months – 12 months | 1 Apr – 30 June 2023 |
| RHB Bank (Unit Trust & FD/Commodity Murabahah Deposit-i campaign – requires customers to also invest in selected unit trust offerings) | – 21.00 (1 month) – 9.60 (3 months) – 6.70 (6 months) | RM30,000 (for FD placement and unit trust investment, respectively) | N/A | – 1 month – 3 months – 6 months | 1 Apr – 30 June 2023 |
| RHB Bank (Amanah Saham Nasional Berhad Variable Price & FD/Commodity Murabahah Depositi Campaign – requires customers to also invest in ASNB offerings) | – 8.90 (1 month) – 5.50 (3 months) – 4.60 (6 months) | RM10,000 (for FD placement and ASNB investment, respectively) | N/A | – 1 month – 3 months – 6 months | 1 Apr – 30 June 2023 |
Monthly Update
Here’s a roundup of this month’s updates to the best fixed deposit accounts in Malaysia.
- Banks have revised their FD interest/profit rates upwards due to the OPR hike in May.
- 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 (3.20% for 6-month tenure).
- Meanwhile, senior savers will be able to tap into BSN Term Deposit-i Senior Citizen (3.50% for 12-month tenure).
- The highest interest rate recorded in this month’s round-up is 3.50% (Bank Simpanan Nasional; 12-month FD), whereas the lowest stood at 2.70% (Maybank; 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 | 3.00% | RM25.00 | Malaysian Govt |
| Bank Muamalat | Bank Muamalat Fixed Term Account-i | RM1,000 | 2.95% | RM24.58 | PIDM |
| Bank of China | Bank of China Fixed Deposit Account | RM1,000 | 2.90% | RM24.17 | PIDM |
| Alliance Bank | Alliance Bank Fixed Deposit | RM500 | 2.75% | RM22.92 | PIDM |
| Maybank | Maybank eFixed Deposit | RM1,000 | 2.70% | RM22.50 | PIDM |
Top 3-month FD rates in Malaysia
| Bank Name | Product Name | Minimum Deposit | Interest/Profit Rate | Profit on RM10,000 | Depositor’s Insurance |
| MBSB Bank | MBSB Term Deposit-i | RM500 | 3.10% | RM77.50 | PIDM |
| Bank Simpanan Nasional | BSN Term Deposit | RM500 | 3.05% | RM76.25 | PIDM |
| Bank of China | Bank of China Fixed Deposit Account | RM1,000 | 3.00% | RM75.00 | PIDM |
| Bank of Nova Scotia | Bank of Nova Scotia Fixed Deposit | RM1,000 | 2.95% | RM73.75 | PIDM |
| Bank Islam | Bank Islam Term Deposit-i | RM500 | 2.90% | RM72.50 | PIDM |
Top 6-month FD rates in Malaysia
| Bank Name | Product Name | Minimum Deposit | Interest/Profit Rate | Profit on RM10,000 | Depositor’s Insurance |
| Agrobank | Agrobank Fixed Return Investment Account-i | RM1,000 | 3.30% | RM165.00 | Malaysian Govt |
| Bank Rakyat | Bank Rakyat Term Deposit Account-i | RM500 | 3.25% | RM162.50 | Malaysian Govt |
| MBSB Bank | MBSB Junior Term Deposit-i | RM500 | 3.20% | RM160.00 | PIDM |
| CIMB Bank | CIMB Unfixed Deposit | RM1,000 | 3.05% | RM152.50 | PIDM |
| RHB Bank | RHB Ordinary Fixed Deposit | RM500 | 3.00% | RM150.00 | PIDM |
Top 9-month FD rates in Malaysia
| Bank Name | Product Name | Minimum Deposit | Interest/Profit Rate | Profit on RM10,000 | Depositor’s Insurance |
| Agrobank | Agrobank Fixed Return Investment Account-i | RM1,000 | 3.40% | RM255.00 | Malaysian Govt |
| MBSB Bank | MBSB Term Deposit-i | RM500 | 3.30% | RM247.50 | PIDM |
| Bank Muamalat | Bank Muamalat Fixed Term Account-i | RM1,000 | 3.20% | RM240.00 | PIDM |
| Bank of China | Bank of China Fixed Deposit Account | RM1,000 | 3.10% | RM232.50 | PIDM |
| India International Bank | India International Bank Fixed Deposit | RM1,000 | 3.05% | RM228.75 | PIDM |
Top 12-month FD rates in Malaysia
| Bank Name | Product Name | Minimum Deposit | Interest/Profit Rate | Profit on RM10,000 | Depositor’s Insurance |
| Bank Simpanan Nasional | BSN Term Deposit-i Senior Citizen | RM5,000 | 3.50% | RM350.00 | PIDM |
| Bank Rakyat | Bank Rakyat Term Deposit Account-i | RM500 | 3.45% | RM345.00 | Malaysian Govt |
| MBSB Bank | MBSB Term Deposit-i | RM500 | 3.40% | RM340.00 | PIDM |
| Bank Muamalat | Bank Muamalat Fixed Term Account-i | RM1,000 | 3.30% | RM330.00 | PIDM |
| Affin Bank | Affin Bank Fixed Deposit | RM500 | 3.10% | RM310.00 | 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!
About THE AUTHOR
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Comments (64)
I am retiring soon. Looking to park my pension Rm2m approx in a safe product with monthly devidents of Rm8k.
Any ideas?
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
what is the name of the fund??
Keep in your EPF, bullshit just want to eat your money.
You better off stick with EPF, which gives about 100k annual return which you want to.
He need monthly withdraw ….EPF can withdraw monthly?
Yes you can request monthly withdrawal.
Can
He can coz he is a retiree soon
Can be arranged with EPF .
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.
Got.
There are a few depending on your risk appetite.
U cannot deposit 2m
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
What’s the point of saying this? 🤦🏻♂️
hahahahahhaha
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.
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.
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
Epf already can more than meet the rm8000 per month Martin requires.
EPF
EPF only allowed max 60K deposit per year. For RM2M, he needs 33 years to deposit all in 😛
put in EPF…little did I expect that there are so many kind soul here asking you to park in EPF…pls listen to them…dont listen to those asking you to invest.
Inform me the best All FD offer by banks
Other products offer are also welcome
ambank got new promo 2.98% 9 months until year end only
Hi, is the OCBC FD rate 2.9% until the end of Dec 2020?
Hi, what is the interest rate in Public Mutual unit trust money market ?
For 200’000 rm pls inform public mutual interest rate
local banks gives pathetic interest rate. Where else overseas investment s gives 6 to 7 precent per month!!!
Park inside EPF.
yah – Japan offers close to zero rate
pakistan with 14% interest rate lol
Yeah but is their central bank governing the safety of your money?
Tomorrow your money may disappear like Alibaba.
Hi is it possible to put 1bil in FD for 12months?
Hi, for the top 1 month FD rates, is no. 1 Bank Rakyat or Bank Muamalat? Thank you.
Latest updated & promo FD term rate.
Thank you.
hi there, pls advise best bank interest FD rates for RM 50K or RM 100K for 2 years, pls share
How about UOB?
uob has good rate.with monthly interest payout..
The best FD rate bank offer ?
Affin has good promotional 6,9,12m FD rate too(I can’t find online, but visible when I apply new FD).
Why considering FD where you have the EPF who offers 6% annually?
because FD is not liquid enough la
MBSB bank giving 3.6% on 12M basis
The FD interest rate is higher now
Yup maybank offer as high as 3.85% for fresh funds. Crazy deals !!
Acquire a shop house and rent it out. Make sure the rental can generate RM8k a month.
better return rate if buying a factory lot
If I’m nit mistaken maybank has other promos to like fresh funds (28/11-7/12) and their rates are superb
Yup, saw the flash deal. Keep an eye out for our updated FD promo for December post tomorrow!
Foreigners can apply for Sg Gov Treasury Bill for 6 months or 12 months, In Dec I placed S$600k in treasury bill at 4.4% cut-off year, equivalent to 4.5% per annum.
that one with 3.85%? yeaaaa that deal is very tempting, might place funds on maybank soon
Deal for 6 months
AM Bank 4.5 for 18mnths
I AM SO HAPPY FOR THE DETAILS FIX DEPOSIT INFORMATION AND I ANALYSIS FIRST ,THANK YOU.
Which is best investment platform FD or Unit trust? with low risk
Lowest risk is FD. So depends on your appetite
Hi Agrobank have promo until 24/2/2023. 4.25% for 12 months, 4.1% for 6 months.
Are all the banks now asking to register CRS before u can place a fix deposit ? And why ?
Life is too short the world is wide.. I would’ve spent some.
Do spend in Malaysia. Thank you
MBSB Bank offrering 4.3 % effective rate as of now April 25th 2023
Now BSN is High rate 5.8% untill 15 ogos 2023.
Can someone explain about the 6months & 12 months FD which one is better?