Best Fixed Deposit Accounts In Malaysia

We provide monthly updates on the best fixed deposit rates in Malaysia with tables showing the top 5 rates for the duration of 1, 3, 6, 9, and 12 months.

 

Best Fixed Deposit Accounts In Malaysia

Last update: 1 April 2020

Best Fixed Deposit Promos – April 2020

Bank Effective Rate (% p.a.) Minimum Deposit Maximum Deposit Tenure Promotion Period
Affin Bank/Affin Islamic Bank
(Banca Deposit Campaign)
  • 17 (1 month for Fixed Deposit/AFFIN Maximiser Premium bundle)
  • 7 (3 months for i-Great Invest/AFFIN Islamic Term Deposit-i bundle)
  • RM50,000 at 1:1 ratio (Fixed Deposit/AFFIN Maximiser Premium bundle)
  • RM10,000 at 1:1 ratio (i-Great Invest/AFFIN Islamic Term Deposit-i bundle)
N/A
  • 1 month
  • 3 months
1 Mar to 31 June 2020
Alliance Bank
(Alliance Bank Fixed Deposit Campaign)
  • Option A
    • 3.30/3.35 (12 months)
  • Option B
    • 3.40 effective step-up rate (5 months)
  • Option C
    • 5.55/5.88 effective step-up rate (3 months)
  • Option A
    • RM50,000 in FD
    • RM10,000 in savings account
  • Option B
    • RM50,000 in FD
    • RM10,000 in savings account
  • Option C
    • 1:2 ratio for FD/Unit Trust at RM25,000:RM50,000
    • 1:1 ratio for FD/Banca Regular Premium at RM10,000:RM10,000
  • Option A
    • RM3 million in FD
  • Option B
    • RM1 million in FD
  • Option C
    • N/A
  • 12 months
  • 5 months
  • 3 months
1 April to 30 September 2020
AmBank
(eFixed Deposit/eTerm Deposit-i only for AmOnline users)
3.00 RM5,000 N/A 1 month 20 Mar to 15 April 2020
Hong Leong Bank
(eFixed Deposit/-i)
3.10 RM10,000 RM2 million 3 months 6 Mar to 30 Apr 2020
Maybank 
(eFixed Deposit/Maybank Islamic Fixed Deposit-i (eIFD-i) #StayAtHome Promotion)
  • 2.87 (2 months)
  • 3.05 (6 months)
  • RM5,000 (Individual, joint account depositors, and sole proprietorship)
  • RM10,000 (SMEs and Business Banking)
N/A
  • 2 months
  • 6 months
26 Mar to 26 April 2020
Public Bank
(eFixed Deposit Account)
3.18 RM10,000 RM2 million 4 months 9 Mar to 30 April 2020
Public Bank
(PB 2020 Double Bonus Campaign)
3.25 RM10,000 RM10 million 3 months 1 Mar to 30 June 2020
RHB Bank
(e-Term Deposit/e-Commodity Murabahah Deposit-i via FPX)
3.15 RM5,000 N/A (but  may be limited by maximum amount via FPX transfer) 3 months 18 Mar to 30 April 2020

Monthly Update

Here’s a roundup of this month’s updates to the best fixed deposit accounts in Malaysia.

  • Most Islamic FD products continue to provide better rates compared to conventional FD products.
  • Affin Islamic Bank dominates this round with its Affin Islamic Term Deposit-i, featuring one of the highest rates for 1, 3, 6, 9, and 12-month FD savings.

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
Affin Islamic Bank Affin Islamic Term Deposit-i RM500 2.75% RM23.00 PIDM
Bank Rakyat Bank Rakyat Term Deposit Account-i RM500 2.70% RM22.60
MBSB Bank MBSB Term Deposit-i RM500 2.60% RM21.60 PIDM
India International Bank India International Bank Fixed Deposit RM1,000 2.55% RM21.20 PIDM
Bank Simpanan Nasional BSN Term Deposit RM500 2.50% RM20.80 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 2.85% RM71.20
Affin Islamic Bank Affin Islamic Term Deposit-i RM500 2.80% RM70.00 PIDM
Agrobank Agrobank Fixed Return Investment Account-i RM1,000 2.65% RM66.20 PIDM
Public Bank Public Bank PB Golden 50 PLUS FD Account RM30,000 2.60% RM65.00 PIDM
Affin Bank Affin Bank Fixed Deposit RM500 2.55% RM63.80 PIDM

Top 6-month FD rates in Malaysia

Bank Name Product Name Minimum Deposit Interest/Profit Rate Profit on RM10,000 Depositor’s Insurance
Maybank Maybank e-Fixed Deposit RM5,000 3.05% RM153.40 PIDM
Bank Rakyat Bank Rakyat Term Deposit Account-i RM500 3.00% RM150.00
Affin Islamic Bank Affin Islamic Term Deposit-i RM500 2.90% RM145.80 PIDM
Agrobank Agrobank Fixed Return Investment Account-i RM1,000 2.80% RM140.00 PIDM
Kuwait Finance House KFH International Commodity Murabahah Deposit-i RM500 2.70% RM135.00 PIDM

Top 9-month FD rates in Malaysia

Bank Name Product Name Minimum Deposit Interest/Profit Rate Profit on RM10,000 Depositor’s Insurance
RHB Islamic Bank RHB Islamic Commodity Murabahah Deposit-i RM1,000 3.30% RM250.20 PIDM
Bank Rakyat Bank Rakyat Term Deposit Account-i RM500 3.05% RM228.80
Affin Islamic Bank Affin Islamic Term Deposit-i RM500 3.00% RM225.00 PIDM
Agrobank Agrobank Fixed Return Investment Account-i RM1,000 2.85% RM213.80 PIDM
MBSB Bank MBSB Junior Term Deposit-i RM500 2.80% RM210.00 PIDM

Top 12-month FD rates in Malaysia

Bank Name Product Name Minimum Deposit Interest/Profit Rate Profit on RM10,000 Depositor’s Insurance
Affin Islamic Bank Affin Islamic Term Deposit-i RM500 3.65% RM365.00 PIDM
Affin Bank Affin Bank Fixed Deposit RM500 3.40% RM340.00 PIDM
RHB Bank RHB Islamic Commodity Murabahah Deposit-i RM1,000 3.35% RM340.20 PIDM
Kuwait Finance House KFH Junior International Commodity Murabahah Deposit-i RM1,000 3.25% RM325.00 PIDM
Agrobank Agrobank Fixed Return Investment Account-i 45 Plus RM1,000 3.15% RM315.00 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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