Best Fixed Deposit Accounts In Malaysia - January 2022
The RinggitPlus Team
4 Jan - 5 min read
Last update: 4 January 2022
Best Fixed Deposit Promos – January 2022
| Bank | Effective Rate (% p.a.) | Minimum Deposit | Maximum Deposit | Tenure | Promotion Period |
| Alliance Bank (Alliance Privilege Customer Welcome Offer Promo – over the counter only) | 3.0 | RM1,000 | RM200,000 | 3 months | 1 Nov 2021 – 31 Mar 2022 |
| Alliance Bank (Banca FD Campaign 2021 – requires customers to invest in selected insurance plans) | – 9.88 (if purchase plan with annualised premium of RM10,000) – 15 (if purchase plan with annualised premium of RM30,000) | RM1,000 | Up to one time of annualised premium amount of bancassurance product purchased | 3 months | 15 July – 31 Mar 2022 |
| Alliance Bank (Alliance Privilege UT Combo – requires customers to invest RM50,000 in selected unit trust products) | 5.50 | RM1,000 | Up to one time of the invested minimum UT amount | 3 months | 15 June 2021 – 31 Mar 2022 |
| AmBank (FD/TD-i CASA Bundle Promo – requires customers to also deposit money into current or savings account) | – 3.10 (Individual customers) – 3.20 (AmWafeeq Savings accountholders) – 3.25 (AmBank SIGNATURE Priority Banking customers) | RM10,000 | – RM1 million (for AmBank SIGNATURE Priority Banking customers only) | 6 months | 8 Nov 2021 – 31 Jan 2022 |
| 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) | RM5,000 | N/A | – 3 months – 6 months – 12 months | 1 – 31 Jan 2022 |
| 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) | RM10,000 | RM10 million | – 1 to 2 months – 3 to 4 months – 5 to 6 months | 1 Jan – 31 Mar 2022 |
| Hong Leong Bank (eFixed Deposit/eFixed Deposit-i Promotion) | – 2.25 (3 months) – 2.30 (6 months) – 2.40 (12 months) – 2.45 (24 months) | RM10,000 | RM2 million | – 3 months – 6 months – 12 months – 24 months | 1 Jan – 31 Mar 2022 |
| Hong Leong Bank (eFD/eFD-i Promo – for new eFD customers only) | 2.45 | RM1,000 | RM100,000 | 6 months | 1 Jan – 31 Mar 2022 |
| Hong Leong Bank (FD Bundle With Current Or Savings Account Promo – requires customers to also deposit money into current/savings account) | 3.05 | RM100,000 | RM10 million | 12 months | 1 Jan – 31 Mar 2022 |
| Hong Leong Bank (2021 New-To-Priority Banking Campaign – requires customers to be a Priority banking customer and bundle with current/savings accounts) | 4.00 | RM100,000 | N/A | 3 months | 1 Sept 2021 – 31 Jan 2022 |
| Hong Leong Bank (Exclusive Promo For Aged 50 And Above) | 3.00 | RM10,000 | RM50,000 | 1 month | 1 Sept 2021 – 31 Jan 2022 |
| Maybank (Fixed Deposit Combo campaign – requires customers to deposit money into selected current or savings accounts) | 2.30 | – RM9,000 (for Kawanku Savings account and Golden Savers Savings account) – RM49,500 (for Maybank2u Premier, Premier 1 account, and Premier Savings account) | N/A | 3 months | 1 Dec 2021 – 19 Jan 2022 |
| Public Bank (FD/TD-i Campaign – applicable to PB Golden 50 PLUS Fixed Deposit Account, PLUS Fixed Deposit, and Term Deposit-i) | PB Golden 50 PLUS FD Account – 2.25 (6 months) – 2.30 (9 months) – 2.35 (12 months) PLUS FD/Term Deposit-i – 2.20 (6 months) – 2.25 (9 months) – 2.30 (12 months) | RM5,000 | RM10 million | – 3 months – 6 months – 12 months | 1 Jan – 30 Apr 2022 |
| RHB Bank (RHB Term Deposit/e-Term Deposit campaign) | 2.38 | RM10,000 | RM200,000 (FPX transfer) or maximum limit of customer’s banks | 8 months | 1 Dec 2021 – 15 Jan 2022 |
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, with Bank Rakyat offering one of the highest profit rates across board.
- Junior savers can opt for the MBSB Junior Term Deposit-i (1.95% for 6-month tenure).
- Meanwhile, senior applicants can apply for the Agrobank Fixed Return Investment Account-i 45 Plus (2.35% for 12-month tenure).
- The highest interest rate recorded in this month’s round-up is 2.40% (Kuwait Finance House Malaysia; 12-month FD), whereas the lowest stood at 1.65% (Bank of China; 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 | Malaysian Govt |
| Bank Muamalat | Bank Muamalat Fixed Term Account-i | RM1,000 | 1.80% | RM15.00 | PIDM |
| Bank Simpanan Nasional | BSN Term Deposit | RM500 | 1.75% | RM14.58 | PIDM |
| Al Rajhi Bank | Al Rajhi Term Deposit-i | RM500 | 1.70% | RM14.17 | PIDM |
| Bank of China | Bank of China Fixed Deposit Account | RM1,000 | 1.65% | RM13.75 | 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 | Malaysian Govt |
| MBSB Bank | MBSB Term Deposit-i | RM500 | 1.90% | RM47.50 | PIDM |
| Bank of Nova Scotia | Bank of Nova Scotia Fixed Deposit | RM1,000 | 1.75% | RM43.75 | PIDM |
| Public Bank | Public Bank eFixed Deposit | RM1,000 | 1.70% | RM42.50 | PIDM |
| Maybank Islamic | Maybank Islamic Prosperous Now! Account-i | RM1,000 | 1.60% | RM40.00 | PIDM |
Top 6-month FD rates in Malaysia
| Bank Name | Product Name | Minimum Deposit | Interest/Profit Rate | Profit on RM10,000 | Depositor’s Insurance |
| Bank Rakyat | Bank Rakyat Term Deposit Account-i | RM500 | 2.15% | RM107.50 | Malaysian Govt |
| Agrobank | Agrobank Fixed Return Investment Account-i | RM1,000 | 2.05% | RM102.50 | Malaysian Govt |
| MBSB Bank | MBSB Junior Term Deposit-i | RM500 | 1.95% | RM97.50 | PIDM |
| Bank Simpanan Nasional | BSN Term Deposit-i | RM500 | 1.85% | RM92.50 | PIDM |
| Alliance Bank | Alliance Bank Fixed Deposit | RM500 | 1.80% | RM90.00 | PIDM |
Top 9-month FD rates in Malaysia
| Bank Name | Product Name | Minimum Deposit | Interest/Profit Rate | Profit on RM10,000 | Depositor’s Insurance |
| Bank Rakyat | Bank Rakyat Term Deposit Account-i | RM500 | 2.20% | RM165.00 | Malaysian Govt |
| MBSB Bank | MBSB Term Deposit-i | RM500 | 2.05% | RM153.75 | PIDM |
| Al Rajhi Bank | Al Rajhi Term Deposit-i | RM500 | 1.90% | RM142.50 | PIDM |
| Bank of China | Bank of China Fixed Deposit Account | RM1,000 | 1.85% | RM138.75 | PIDM |
| RHB Islamic | RHB Islamic Commodity Murabahah Deposit-i | RM1,000 | 1.80% | RM135.00 | 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 International Commodity Murabahah Deposit-i | RM500 | 2.40% | RM240.00 | PIDM |
| Agrobank | Agrobank Fixed Return Investment Account-i 45 Plus | RM1,000 | 2.35% | RM235.00 | Malaysian Govt |
| Bank Simpanan Nasional | BSN Term Deposit | RM500 | 2.20% | RM220.00 | PIDM |
| Bank Muamalat | Bank Muamalat Fixed Term Account-i | RM1,000 | 2.05% | RM205.00 | PIDM |
| CIMB Bank | CIMB Islamic Fixed Return Income Account-i Monthly Returns | RM1,000 | 1.85% | RM185.00 | 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 (8)
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.
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