Last update: 1 April 2021
Best Fixed Deposit Promos – April 2021
| Bank | Effective Rate (% p.a.) | Minimum Deposit | Maximum Deposit | Tenure | Promotion Period |
| Affin Bank (Riang Raya Sihat Sejahtera Campaign – requires customers to deposit money into current/savings account as well) |
– 2.33 (3 months)
– 2.40 (6 months) – 2.50 (12 months) |
RM10,000 | RM1 million | – 3 months
– 6 months – 12 months |
1 Apr to 5 May 2021 |
| AmBank (eFixed Deposit/eTerm Deposit-i via AmOnline or FPX – requires customers to key in reward code) |
– 2.50 (9 months)
– 2.70 (18 months) |
RM10,000 | N/A | – 9 months
– 18 months |
1 Apr to 31 May 2021 |
| CIMB Bank (eFixed Deposit March 2021 Campaign) |
– 2.05 (3 months)
– 2.15 (6 months) – 2.20 (12 months) |
RM5,000 | N/A | – 3 months
– 6 months – 12 months |
22 Mar to 6 May 2021 |
| Hong Leong Bank (eFixed Deposit-i) |
– 2.30 (3 months)
– 2.35 (6 and 12 months) – 2.40 (18 and 24 months) |
RM10,000 | RM2 million | – 3 months
– 6 months – 12 months – 18 months – 24 months |
23 Mar to 30 June 2021 |
| Public Bank (eFD via FPX Campaign) |
– 2.00 (1 month)
– 2.10 (2 months) – 2.20 (3 months) |
RM5,000 | RM2 million | – 1 month
– 2 months – 3 months |
1 Jan to 30 Apr 2021 |
| Public Bank (PB Fixed Deposit/Term Deposit-i) |
– 2.08 (3 months)
– 2.28 (8 months)
|
RM10,000 | RM10 million | – 3 months
– 8 months |
1 Jan to 30 June 2021 |
| Public Bank (PB Journey Golden Savers Campaign – requires customers to also have/open a savings account) |
– 2.10 (3 months)
– 2.20 (6 months) – 2.30 (9 months) |
RM5,000 | RM5 million | – 3 months
– 6 months – 9 months |
1 Feb to 30 June 2021 |
| Standard Chartered (FD/TD-i 6.18% p.a. Campaign – requires customers to invest in unit trust products) |
6.18 | RM100,000 | N/A | 3 months | 18 Dec 2020 to 15 Apr 2021 |
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.
- Bank Rakyat offers the best rate for several FD products this month (3, 6 and 9-month tenure). However, do take note that Bank Rakyat’s FD products are not protected by PIDM.
- Kuwait Finance House Malaysia is offering a competitive rate of 2.4% for those who are looking to park their money in FD with a longer tenure.
- Meanwhile, junior savers can opt for MBSB Junior Term Deposit-i (1.85% for 1-month tenure) or Hong Leong Islamic Junior Term Deposit-i (1.75% for 12-month tenure).
- The highest interest rate recorded in this month’s round-up is 2.40% (KFH Malaysia; 12-month FD), whereas the lowest stood at 1.55% (Alliance 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 |
| MBSB | MBSB Junior Term Deposit-i | RM500 | 1.85% | RM15.42 | PIDM |
| Bank Simpanan Nasional | BSN Term Deposit | RM500 | 1.75% | RM14.58 | PIDM |
| Affin Bank | Affin Bank Fixed Deposit | RM500 | 1.70% | RM14.17 | PIDM |
| Bank Islam | Bank Islam Term Deposit-i | RM500 | 1.65% | RM13.75 | PIDM |
| Alliance Bank | Alliance Bank Fixed Deposit | RM500 | 1.55% | RM12.92 | 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 | – |
| MBSB | MBSB Term Deposit-i | RM500 | 1.90% | RM47.50 | PIDM |
| Bank Muamalat | Bank Muamalat Fixed Term Account-i | RM1,000 | 1.85% | RM46.25 | PIDM |
| Al-Rajhi Bank | Al-Rajhi Term Deposit-i | RM500 | 1.80% | RM45.00 | PIDM |
| Bank of Nova Scotia | Bank of Nova Scotia Fixed Deposit | RM1,000 | 1.75% | RM43.75 | 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 | – |
| Agrobank | Agrobank Fixed Return Investment Account-i | RM1,000 | 2.05% | RM102.50 | – |
| Bank of China | Bank of China Fixed Deposit Account | RM1,000 | 1.80% | RM90.00 | PIDM |
| AmBank | AmBank Am50 Plus | RM5,000 | 1.70% | RM85.00 | PIDM |
| UOB | UOB Fixed Deposit | RM500 | 1.65% | RM82.50 | PIDM |
Top 9-month FD rates in Malaysia
| Bank Name | Product Name | Minimum Deposit | Interest/Profit Rate | Profit on RM10,000 | Depositor’s Insurance |
| Bank Rakyat | Bank Rakyat Term Deposit Account-i | RM500 | 2.20% | RM165.00 | – |
| Bank Muamalat | Bank Muamalat Fixed Term Account-i | RM1,000 | 1.95% | RM146.25 | PIDM |
| Bank Simpanan Nasional | BSN Term Deposit-i | RM500 | 1.90% | RM142.50 | PIDM |
| RHB Islamic Bank | RHB Islamic Commodity Murabahah Deposit-i | RM1,000 | 1.80% | RM135.00 | PIDM |
| OCBC Bank | OCBC MYR Fixed Deposit | RM1,000 | 1.70% | RM127.50 | 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 | – |
| Bank Simpanan Nasional | BSN Term Deposit | RM500 | 2.20% | RM220.00 | PIDM |
| CIMB Bank | CIMB Unfixed Deposit | RM1,000 | 1.85% | RM185.00 | PIDM |
| Hong Leong Islamic Bank | Hong Leong Islamic Junior Term Deposit-i | RM1,000 | 1.75% | RM175.00 | 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!
Inform me the best All FD offer by banks
Other products offer are also welcome