Best Fixed Deposit Accounts In Malaysia - February 2023
ringgitplus
2nd February 2023 - 7 min read
Last update: 2 February 2023
Best Fixed Deposit Promos – February 2023
| Bank | Effective Rate (% p.a.) | Minimum Deposit | Maximum Deposit | Tenure | Promotion Period |
| Affin Bank (eFD/eTD-i promo – only applicable for deposits made through AffinAlways) | – 3.93 (4 months) – 3.95 (6 months) – 4.00 (9 months) – 4.15 (12 months) | RM10,000 | RM200,000 | – 4 months – 6 months – 9 months – 12 months | 21 Jan – 3 Feb 2023 |
| Alliance Bank (SavePlus Account eFD promo – requires customers to open a SavePlus savings account) | 4.10 | RM1,000 | RM100,000 | 12 months | 14 Dec 2022 – 28 Feb 2023 |
| Alliance Bank (CNY Wealth and FD bundle – requires customers to sign up for unit trust or bancassurance products) | – 13.88 (3 months, with unit trust investment) – 9.00 (6 months, with bancassurance products) | – RM1,000 | N/A | – 3 months (unit trust) – 6 months (bancassurance) | 5 Dec 2022 – 28 Feb 2023 |
| Alliance Bank (Investment & FD Bundle campaign – requires customers to invest in selected unit trust products) | – 7.25 | RM1,000 | Up to one time of invested unit trust amount | 3 months | 1 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) | RM1,000 | Up to one time of annualised premium amount of purchased product | 6 months | 1 Oct 2022 – 31 Mar 2023 |
| Alliance Bank (New Investor Campaign – unit trust and FD bundle) | 9.25 | RM1,000 | Up to one time of the invested unit trust amount | 3 months | 1 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) | RM1,000 | N/A | – 1 month – 3 months – 6 months – 9 months | 17 Dec 2022 – 31 Mar 2023 |
| CIMB Islamic Bank (TIA-i campaign) | – 4.00 (6 months) – 4.30 (12 months) | RM1,000 | N/A | – 3 months – 6 months – 12 months | 26 Jan – 14 Mar 2023 |
| CIMB Bank (FD/FRIA-i: CNY campaign) | – 3.58 (3 months) – 3.98 (8 months) – 4.20 (12 months) | RM1,000 | N/A | – 3 months – 8 months – 12 months | 30 Jan – 14 Mar 2023 |
| Hong Leong Bank (eFixed Deposit/-i CNY promotion) | – 3.93 (3 months) – 4.13 (6 months) | RM10,000 | RM200,000 | – 3 months – 6 months | 5 Jan – 15 Feb 2023 |
| Hong Leong Bank (Private Banking & Priority Banking Welcome Proposition – for new Private Banking and Priority customers only) | – 4.08 (without additional product applications) – 4.18 (with additional product applications) | RM10,000 | RM500,000 | 3 months | 5 Jan -28 Feb 2023 |
| Hong Leong Bank (FD and unit trust bundle – for Private Banking and Priority customers only, required to invest in selected unit trust products) | – 11.88 (1 month) – 8.18 (3 months) | N/A | RM25,000 | – 1 month – 3 months | 6 Jan – 28 Feb 2023 |
| Hong Leong Bank (FD and unit trust bundle – requires customers to invest in selected unit trust products) | – 9.88 (1 month) – 7.18 (3 months) | N/A | RM10,000 | – 1 month – 3 months | 6 Jan – 28 Feb 2023 |
| Hong Leong Bank (FD and insurance bundle – requires customers to purchase selected bancassurance products) | Single Premium Products – 8.88 (3 months) Regular Premium Products – 10.88 (3 months) – 5.38 (12 months) | RM1,000 | Single Premium Products Up to 0.5x of premium amount Regular Premium Products Up to annual premium amount | – 3 months – 12 months | 1 Jan -28 Feb 2023 |
| HSBC Bank (Time Deposit Special Rate – only for new HSBC Premier Everyday Global Account customers) | – 4.18 (min placement RM200,000) – 4.28 (min placement RM500,000) – 4.38 (min placement RM1 million) | – RM200,000 – RM500,000 – RM1 million | N/A | 6 months | 19 Sept 2022 – 28 Feb 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 (Li Chun FD promo) | – 3.85 (6 months) – 4.00 (13 months) | RM1,000 | N/A | – 6 months – 13 months | 30 Jan – 5 Feb 2023 |
| Public Bank (PB RCB Special FD/TD-i campaign – Red Carpet Banking customers are required to maintain a minimum aggregated deposit amount) | Term Deposit-i RCB Gold – 3.55 (3 months) – 3.95 (6 months) – 4.05 (9 months) – 4.15 (12 months) RCB Elite – 3.60 (3 months) – 4.00 (6 months) – 4.10 (9 months) – 4.20 (12 months) PLUS Fixed Deposit RCB Gold – 3.45 (3 months) – 3.85 (6 months) – 3.95 (9 months) – 4.05 (12 months) RCB Elite – 3.50 (3 months) – 3.90 (6 months) – 4.00 (9 months) – 4.10 (12 months) | RM10,000 | RM10 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 receipt | RM10 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 – 3.45 (3 months) – 3.85 (6 months) – 3.95 (9 months) – 4.05 (12 months) PLUS Fixed Deposit – 3.40 (3 months) – 3.80 (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 Jan – 31 Mar 2023 |
| Public Bank (eFD via FPX campaign) | – 3.45 (3 months) – 3.85 (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 Jan – 31 Mar 2023 |
| Standard Chartered Bank (Special FD rates – for new Priority Banking with minimum RM250,000 AUM and other selected customers only) | 4.18 | N/A | RM200,000 | 6 months | 1 Jan – 28 Feb 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 (2.95% for 6-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 2.40% (Standard Chartered 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 Rakyat | Bank Rakyat Term Deposit Account-i | RM500 | 2.75% | RM22.92 | Malaysian Govt |
| Bank Islam | Bank Islam Term Deposit-i | RM500 | 2.65% | RM22.08 | PIDM |
| Alliance Bank | Alliance Bank Fixed Deposit | RM500 | 2.50% | RM20.83 | PIDM |
| Maybank | Maybank eFixed Deposit | RM1,000 | 2.45% | RM20.42 | PIDM |
| Standard Chartered Bank | Standard Chartered Fixed Deposit | RM1,000 | 2.40% | RM20.00 | PIDM |
Top 3-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 | 2.90% | RM72.50 | Malaysian Govt |
| MBSB Bank | MBSB Term Deposit-i | RM500 | 2.85% | RM71.25 | PIDM |
| Bank of China | Bank of China Fixed Deposit Account | RM1,000 | 2.75% | RM68.75 | PIDM |
| CIMB Bank | CIMB Unfixed Deposit | RM1,000 | 2.70% | RM67.50 | PIDM |
| Public Islamic Bank | Public Bank Islamic Term Deposit-i | RM1,000 | 2.65% | RM66.25 | 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 | 3.10% | RM155.00 | Malaysian Govt |
| Bank Rakyat | Bank Rakyat Term Deposit Account-i | RM500 | 3.00% | RM150.00 | Malaysian Govt |
| MBSB Bank | MBSB Junior Term Deposit-i | RM500 | 2.95% | RM147.50 | PIDM |
| Bank Simpanan Nasional | BSN Term Deposit | RM500 | 2.85% | RM142.50 | PIDM |
| Bank of Nova Scotia | Bank of Nova Scotia Fixed Deposit | RM1,000 | 2.80% | RM140.00 | 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 | 3.20% | RM240.00 | Malaysian Govt |
| MBSB Bank | MBSB Term Deposit-i | RM500 | 3.05% | RM228.75 | PIDM |
| Bank Muamalat | Bank Muamalat Fixed Term Account-i | RM1,000 | 2.95% | RM221.25 | PIDM |
| Bank of China | Bank of China Fixed Deposit Account | RM1,000 | 2.85% | RM213.75 | PIDM |
| Affin Bank | Affin Bank Fixed Deposit | 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 |
| Agrobank | Agrobank Fixed Return Investment Account-i | RM1,000 | 3.30% | RM330.00 | Malaysian Govt |
| Bank Simpanan Nasional Islamic | BSN Term Deposit-i Senior Citizen | RM5,000 | 3.25% | RM325.00 | PIDM |
| Bank Rakyat | Bank Rakyat Term Deposit Account-i | RM500 | 3.20% | RM320.00 | Malaysian Govt |
| Bank Muamalat | Bank Muamalat Fixed Term Account-i | RM1,000 | 3.05% | RM305.00 | PIDM |
| India International Bank | India International Bank Fixed Deposit | RM1,000 | 2.85% | RM285.00 | 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 (46)
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??
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.
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
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.
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
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?
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!
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
Hi Agrobank have promo until 24/2/2023. 4.25% for 12 months, 4.1% for 6 months.
Life is too short the world is wide.. I would’ve spent some.