Best Fixed Deposit Accounts In Malaysia - June 2022
The RinggitPlus Team
1 Jun - 6 min read
Last update: 1 June 2022
Best Fixed Deposit Promos – June 2022
| Bank | Effective Rate (% p.a.) | Minimum Deposit | Maximum Deposit | Tenure | Promotion Period |
| Affin Bank (Affin Banca Deposit campaign – requires customers to purchase bancasurrance products) | – 8.88 or 18.88 (1 month) – 4.88 or 10.88 (3 months) | RM10,000 or RM50,000 (depending on banca product) | N/A | – 1 month – 3 months | 1 May – 31 Dec 2022 |
| Alliance Bank (Alliance Coolest Cashback: eFD promo – requires customers to open a SavePlus/-i account) | 2.80 | RM1,000 | RM50,000 | 12 months | 1 Feb – 30 June 2022 |
| Alliance Bank (Investment & FD Bundle campaign – requires customers to invest in selected investment products) | – 6.28 (for investment in unit trusts) – 5.00 (for investment in retail securities or sukuk, and structure investment) | RM1,000 | – Up to one time of invested unit trust amount – Up to one-third of invested retail securities or structured investment amount | 3 months | 1 Apr – 30 Sept 2022 |
| Alliance Bank (Bancassurance & FD Bundle campaign – requires customers to purchase selected bancassurance products) | – 7.50 (products with minimum annualised premium of RM50,000) -5.50 (products with minimum annualised premium of RM10,000) | RM1,000 | – Up to one time of annualised premium amount of purchased product | 6 months | 1 Apr – 30 Sept 2022 |
| Alliance Bank (New Investor Campaign – unit trust and FD bundle) | 8.28 | RM1,000 | Up to one time of the invested unit trust amount | 3 months | 1 Apr – 30 Sept 2022 |
| AmBank (12-Month FD/TD-i and CASA Combined campaign – requires customers to have a current/savings account) | – 3.53 (individual customers) – 3.63 (AmWafeeq Savings accountholders) – 3.76 (AmBank SIGNATURE Priority Banking customers) – 3.90 (new-to-bank SIGNATURE Priority Banking customers) | – RM10,000 | – RM2 million (individual customers) – No cap (AmWafeeq savings accountholders) – RM1 million (SIGNATURE Priority Banking customers) | 12 months | 1 Apr – 30 June 2022 |
| Bank Rakyat (Bank Rakyat Term Deposit-i Year 2022 promo) | – 2.60 (12 months) – 2.80 (24 months) | RM10,000 | N/A | – 12 months – 24 months | 9 Mar – 9 July 2022 |
| CIMB Bank (CIMB eFixed Return Income Account-i ) | – 2.35 (3 months) – 2.45 (6 months) – 2.55 (12 months) | RM5,000 | N/A | – 3 months – 6 months – 12 months | 1 June – 17 July 2022 |
| Hong Leong Bank (Step Up Fixed Deposit Promotion) | – 2.45 (1 to 12 months) – 2.80 (13 to 24 months) – 3.15 (25 to 36 months) | RM10,000 | – RM10 million | – 1 to 12 months – 13 to 24 months – 25 to 36 months | 1 Apr – 30 June 2022 |
| Hong Leong Bank (eFixed Deposit/eFixed Deposit-i Promotion) | – 2.15 (3 months) – 2.25 (6 months) – 2.60 (12 months) – 2.65 (15 & 18 months) – 2.75 (24 months) | RM10,000 | RM200,000 | – 3 months – 6 months – 12 months -15 months – 18 months – 24 months | 1 Apr – 30 June 2022 |
| Hong Leong Bank (FD & CASA Bundle promotion – requires customers to have selected current/savings account) | 3.05 | RM100,000 | RM10 million | 12 months | 4 Apr – 30 June 2022 |
| Hong Leong Bank (Raya Step Up 36 Months eFixed Deposit/-i promotion) | – 2.45 (1 to 12 months) – 2.80 (13 to 24 months) – 3.30 (25 to 36 months) | RM10,000 | RM200,000 | – 1 to 12 months – 13 to 24 months – 25 to 36 months | 1 May – 30 June 2022 |
| Hong Leong Bank (eFixed Deposit/-i promo – only for new customers) | 2.45 | RM1,000 | RM100,000 | 6 months | 1- 30 June 2022 |
| Public Bank (PB eFD via FPX campaign) | – 2.30 (6 months) – 2.35 (9 months) – 2.40 (12 months) | RM5,000 | RM2 million | – 6 months – 9 months – 12 months | 1 May – 31 Aug 2022 |
| Public Islamic Bank (15-Month and 18-Month Term Deposit-i promo) | – 2.60 (15 months) – 2.70 (18 months) | RM5,000 | – NIL (individual customers) – RM50 million (non-individual customers) | – 15 months -18 months | 28 Mar – 30 July 2022 |
| UOB Bank (Mid Year 2022 Saturday Banking FD Plus promo – only on Saturdays, for over-the-counter transactions, and requires customers to bundle with a conventional savings or current account) | 2.80 | RM10,000 | RM5 million | 12 months | – 28 May 2022 – 4 June 2022 – 11 June 2022 – 18 June 2022 – 25 June 2022 |
Monthly Update
Here’s a roundup of this month’s updates to the best fixed deposit accounts in Malaysia.
- There has been an increase in the interest/profit rates offered by banks in the market due to the recent OPR hike.
- Overall, Islamic FD products continue to offer higher interest rates compared to conventional FD products.
- For short-term savings, you can opt for the Bank Rakyat Term Deposit Account-i (2.10% for 3-month tenure)
- Junior savers can opt for the MBSB Junior Term Deposit-i (2.20% for 6-month tenure).
- Meanwhile, senior applicants can apply for the Agrobank Fixed Return Investment Account-i 45 Plus (2.03% for 6-month tenure).
- The highest interest rate recorded in this month’s round-up is 2.45% (Bank Simpanan Nasional; 12-month FD), whereas the lowest stood at 1.75% (Public 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 Name | Product Name | Minimum Deposit | Interest/Profit Rate | Profit on RM10,000 | Depositor’s Insurance |
| Bank Muamalat | Bank Muamalat Fixed Term Account-i | RM1,000 | 2.05% | RM17.08 | PIDM |
| MBSB Bank | MBSBS Term Deposit-i | RM500 | 2.00% | RM16.67 | PIDM |
| Bank Islam | Bank Islam Term Deposit-i | RM500 | 1.90% | RM15.83 | PIDM |
| Agrobank | Agrobank Fixed Return Investment Account-i | RM1,000 | 1.87% | RM15.58 | PIDM |
| Public Bank | Public Bank eFixed Deposit | RM1,000 | 1.75% | RM14.58 | 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 | 2.10% | RM52.50 | Malaysian Govt |
| Bank of China | Bank of China Fixed Deposit Account | RM1,000 | 2.00% | RM50.00 | PIDM |
| Bank of Nova Scotia | Bank of Nova Scotia Fixed Deposit | RM1,000 | 1.95% | RM48.75 | PIDM |
| Maybank Islamic | Maybank Islamic Prosperous Now! Account-i | RM1,000 | 1.85% | RM46.25 | PIDM |
| UOB | UOB Fixed Deposit | RM500 | 1.80% | RM45.00 | PIDM |
Top 6-month FD rates in Malaysia
| Bank Name | Product Name | Minimum Deposit | Interest/Profit Rate | Profit on RM10,000 | Depositor’s Insurance |
| MBSB Bank | MBSB Junior Term Deposit-i | RM500 | 2.20% | RM110.00 | PIDM |
| Bank Simpanan Nasional | BSN Term Deposit-i | RM500 | 2.10% | RM105.00 | PIDM |
| CIMB Bank | CIMB Unfixed Deposit | RM1,000 | 2.05% | RM102.50 | PIDM |
| Agrobank | Agrobank Fixed Return Investment Account-i 45 Plus | RM1,000 | 2.03% | RM101.50 | Malaysian Govt |
| Affin Bank | Affin bank Fixed Deposit | RM500 | 1.95% | RM97.50 | PIDM |
Top 9-month FD rates in Malaysia
| Bank Name | Product Name | Minimum Deposit | Interest/Profit Rate | Profit on RM10,000 | Depositor’s Insurance |
| MBSB Bank | MBSB Term Deposit-i | RM500 | 2.30% | RM172.50 | PIDM |
| Bank Muamalat | Bank Muamalat Fixed Term Account-i | RM1,000 | 2.20% | RM165.00 | PIDM |
| Bank of China | Bank of China Fixed Deposit Account | RM1,000 | 2.10% | RM157.50 | PIDM |
| Agrobank | Agrobank Fixed Return Investment Account-i | RM1,000 | 2.08% | RM156.00 | Malaysian Govt |
| RHB | RHB Ordinary Fixed Deposit | RM500 | 2.05% | RM153.75 | 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 | RM500 | 2.45% | RM245.00 | PIDM |
| MBSB Bank | MBSB Term Deposit-i | RM500 | 2.40% | RM240.00 | PIDM |
| Bank Muamalat | Bank Muamalat Fixed Term Account-i | RM1,000 | 2.35% | RM230.00 | PIDM |
| Bank of China | Bank of China Fixed Deposit Account | RM1,000 | 2.15% | RM215.00 | PIDM |
| Alliance Bank | Alliance Bank Fixed Deposit | RM500 | 2.10% | RM210.00 | 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
The RinggitPlus Team
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Comments (16)
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
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.
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!!!
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?