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 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!

4.5 34 votes
Article Rating

Discussion

1 Comment
Inline Feedbacks
View all comments
Patrick Liew
8 months ago

Inform me the best All FD offer by banks
Other products offer are also welcome

You May Also Like