Best Fixed Deposit Accounts In Malaysia - September 2022
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Last update: 1 September 2022

Best Fixed Deposit Promos – September 2022

BankEffective Rate (% p.a.)Minimum DepositMaximum DepositTenurePromotion Period
Affin Bank
(Affin Banca Deposit campaign – requires customers to purchase bancasurrance products)
– 8.88 or 18.88 (1 month)

– 4.88 or 10.88 (3 months)
RM10,000 or RM50,000 (depending on banca product)N/A– 1 month

– 3 months
1 May – 31 Dec 2022
Alliance Bank
(Investment & FD Bundle campaign – requires customers to invest in selected investment products)
– 6.28 (for investment in unit trusts)

– 5.00 (for investment in retail securities or sukuk, and structure investment)
RM1,000– Up to one time of invested unit trust amount

– Up to one-third of invested retail securities or structured investment amount
3 months1 Apr – 30 Sept 2022
Alliance Bank
(Bancassurance & FD Bundle campaign – requires customers to purchase selected bancassurance products)
– 7.50 (products with minimum annualised premium of RM50,000)

-5.50 (products with minimum annualised premium of RM10,000)
RM1,000– Up to one time of annualised premium amount of purchased product6 months1 Apr – 30 Sept 2022
Alliance Bank
(New Investor Campaign – unit trust and FD bundle)
8.28RM1,000Up to one time of the invested unit trust amount3 months1 Apr – 30 Sept 2022
Alliance Bank
(Cooler Cashback e-FD – requires customers to set up mobile banking)
3.05RM1,000RM10,00012 months14 July – 30 Sept 2022
AmBank
(FD/CASA bundle promo – requires customers to deposit in their current/savings account-i as well)
– 3.85 (Individual customers)

– 3.90 (AmWafeeq Savings Account-i accountholders)

– 4.10 (AmBank SIGNATURE Priority Banking customers)
– RM10,000– RM1 million (Individual and AmBank SIGNATURE Priority Banking customers)

– No capping (AmWafeeq Savings Account-i accountholders)
6 months18 July – 30 Sept 2022
AmBank
(eTerm Deposit-i via FPX campaign – requires customers to key in a reward code “BEST12”)
3.20RM10,000RM200,000 via FPX, or subject to customer’s transaction limit 12 months18 July – 11 Sept 2022
Bank Muamalat
(FTA-i BIG Deals Campaign)
– 2.68 (6 months)

– 2.95 (12 months)

– 3.00 (18 months)
RM5,000– RM100 million (6 months)

– RM400 million (12 months)

– RM500 million (18 months)
– 6 months

– 12 months

– 18 months
15 Apr – 15 Oct 2022
Bank Rakyat
(Term Deposit-i Account – for existing customers only)
3.30RM10,000N/A12 months8 Aug – 30 Sept 2022
Bank Simpanan Nasional
(BSN Term Deposit-i Senior Citizen campaign)
2.88 RM5,000– RM5 million (6 months) 6 months24 Aug – 31 Oct 2022
CIMB Islamic Bank
(CIMB FRIA-i Bundle with CASA-i campaign – requires customers to make placements in current or savings account as well)
3.83RM10,000RM1 million6 months25 July – 30 Sept 2022
CIMB Bank
(CIMB eFixed Return Income Account-i promo)
– 2.40 (3 months)

– 2.60 (6 months)

– 2.85 (12 months)
RM5,000N/A– 3 months

– 6 months

– 12 months
18 July – 15 Sept 2022
Hong Leong Bank
(FD/CASA bundle campaign – requires customers to make placements in current or savings account as well)
3.50RM100,000– RM10 million12 months1 July – 30 Sept 2022
Hong Leong Bank
(eFixed Deposit/-i promotion)
– 2.55 (3 months)

– 2.85 (6 months)

– 3.05 (12 months)

– 3.30 (18 months)

– 3.30 (24 months)

RM10,000RM200,000 – 3  months

– 6 months

– 12 months

– 18 months

– 24 months
1 Sept – 31 Oct 2022
Hong Leong Bank
(eFixed Deposit/-i promo – only for new customers)
2.95RM1,000RM200,0006 months1 Sept – 31 Oct 2022
Maybank Islamic
(Islamic Fixed Deposit RUSH campaign)
Fresh funds
– 2.80 (6 months)
– 3.00 (12 months)

Non-fresh funds
– 2.75 (6 months)
– 2.95 (12 months)
RM10,000RM15 million– 6 months

– 12 months
26 Aug – 7 Sept 2022
Public Bank
(PB RCB Special FD/TD-i campaign – for Red Carpet Banking customers only)
RCB Elite
– 2.65 (3 months)
– 2.75 (6 months)
– 2.80 (9 months)
– 2.85 (12 months)

RCB Gold
– 2.60 (3 months)
– 2.70 (6 months)
– 2.75 (9 months)
– 2.80 (12 months)
RM10,000RM10 million– 3 months

– 6 months

– 9 months

– 12 months
1 Sept – 31 Dec 2022
Public Bank
(PB eFD via FPX campaign)
– 2.60 (3 months)

– 2.70 (6 months)

– 2.75 (9 months)

– 2.80 (12 months)
RM5,000RM2 million– 3 months

– 6 months

– 9 months

– 12 months
1 Sept – 31 Dec 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.
  • Junior savers can opt for MBSB Junior Term Deposit-i (2.45% for 6-month tenure).
  • Meanwhile, senior applicants can apply for BSN Term Deposit Senior Citizen (2.60% for 12-month tenure).
  • The highest interest rate recorded in this month’s round-up is 2.60% (Bank Simpanan Nasional; 12-month FD), whereas the lowest stood at 1.95% (Maybank; 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 NameProduct NameMinimum DepositInterest/Profit Rate Profit on RM10,000Depositor’s Insurance
Bank MuamalatBank Muamalat Fixed Term Account-iRM1,0002.30%RM19.17PIDM
MBSB BankMBSB Term Deposit-iRM5002.25%RM18.75PIDM
Bank of ChinaBank of China Fixed Deposit AccountRM1,0002.15%RM17.92PIDM
Public BankPublic Bank eFixed DepositRM1,0002.00%RM16.67PIDM
MaybankMaybank Fixed DepositRM1,0001.95%RM16.25PIDM

Top 3-month FD rates in Malaysia

Bank NameProduct NameMinimum DepositInterest/Profit Rate Profit on RM10,000Depositor’s Insurance
Bank RakyatBank Rakyat Term Deposit Account-iRM5002.35%RM58.75Malaysian Govt
Bank of ChinaBank of China Fixed Deposit AccountRM1,0002.25%RM56.25PIDM
AgrobankAgrobank Fixed Return Investment Account-iRM1,0002.21%RM55.25Malaysian Govt
Alliance BankAlliance Bank Fixed DepositRM5002.20%RM55.00PIDM
Al Rajhi BankAl Rajhi Term Deposit-iRM5002.10%RM52.50PIDM

Top 6-month FD rates in Malaysia

Bank NameProduct NameMinimum DepositInterest/Profit Rate Profit on RM10,000Depositor’s Insurance
Bank RakyatBank Rakyat Term Deposit Account-iRM5002.50%RM125.00Malaysian Govt
MBSB BankMBSB Junior Term Deposit-iRM5002.45%RM122.50PIDM
Bank Simpanan NasionalBSN Term DepositRM5002.35%RM117.50PIDM
CIMB IslamicCIMB Islamic Fixed Return Income Account- Maturity ReturnsRM1,0002.30%RM115.00PIDM
Bank IslamBank Islam Term Deposit-iRM5002.25%RM112.50PIDM

Top 9-month FD rates in Malaysia

Bank NameProduct NameMinimum DepositInterest/Profit Rate Profit on RM10,000Depositor’s Insurance
MBSB BankMBSB Term Deposit-iRM5002.55%RM191.25PIDM
Bank MuamalatBank Muamalat Fixed Term Account-iRM1,0002.45%RM183.75PIDM
Bank of ChinaBank of China Fixed Deposit AccountRM1,0002.35%RM176.25PIDM
Public Islamic BankPublic Bank Islamic Term Deposit-iRM1,0002.30%RM172.50PIDM
UOB BankUOB Fixed DepositRM5002.25%RM168.75PIDM

Top 12-month FD rates in Malaysia

Bank NameProduct NameMinimum DepositInterest/Profit Rate Profit on RM10,000Depositor’s Insurance
Bank Simpanan NasionalBSN Term Deposit Senior CitizenRM5,0002.60%RM260.00PIDM
Bank MuamalatBank Muamalat Fixed Term Account-iRM1,0002.55%RM255.00PIDM
AgrobankAgrobank Fixed Return Investment Account-iRM1,0002.39%RM239.00Malaysian Govt
Bank of Nova ScotiaBank of Nova Scotia Fixed DepositRM1,0002.35%RM235.00PIDM
RHB BankRHB Ordinary Fixed Deposit RM5002.30%RM230.00PIDM

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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Martin
2 years ago

I am retiring soon. Looking to park my pension Rm2m approx in a safe product with monthly devidents of Rm8k.
Any ideas?

Kasman Muslimin
1 year ago
Reply to  Martin

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

CK LIM
11 months ago
Reply to  Martin

You better off stick with EPF, which gives about 100k annual return which you want to.

mugun
6 months ago
Reply to  CK LIM

He need monthly withdraw ….EPF can withdraw monthly?

Anonymous
5 months ago
Reply to  mugun

Yes you can request monthly withdrawal.

Anonymous
2 months ago
Reply to  mugun

Can

Anonymous
1 month ago
Reply to  mugun

He can coz he is a retiree soon

Helen Mee Tsin Ryder
3 months ago
Reply to  CK LIM

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.

James
27 days ago
Reply to  Martin

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

Nalni Parthipan
15 days ago
Reply to  Martin

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.

Patrick Liew
2 years ago

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

Sasa
1 year ago

ambank got new promo 2.98% 9 months until year end only

ALAN CONRAD CHEONG CHI LOONG
1 year ago

Hi, is the OCBC FD rate 2.9% until the end of Dec 2020?

Jessie
1 year ago

Hi, what is the interest rate in Public Mutual unit trust money market ?

Arultharuman
9 months ago
Reply to  Jessie

For 200’000 rm pls inform public mutual interest rate

lim
7 months ago
Reply to  Jessie

local banks gives pathetic interest rate. Where else overseas investment s gives 6 to 7 precent per month!!!

Anonymous
17 days ago
Reply to  lim

Park inside EPF.

Anonymous
7 months ago

Hi is it possible to put 1bil in FD for 12months?

Jan
7 months ago

Hi, for the top 1 month FD rates, is no. 1 Bank Rakyat or Bank Muamalat? Thank you.

Philip Lee
7 months ago

Latest updated & promo FD term rate.
Thank you.

jessy
6 months ago

hi there, pls advise best bank interest FD rates for RM 50K or RM 100K for 2 years, pls share

chookn
4 months ago

How about UOB?

Pat Liew
3 months ago

The best FD rate bank offer ?

Anonymous
1 month ago

Affin has good promotional 6,9,12m FD rate too(I can’t find online, but visible when I apply new FD).

Anonymous
17 days ago
Reply to  Anonymous

Why considering FD where you have the EPF who offers 6% annually?

Anonymous
14 days ago

MBSB bank giving 3.6% on 12M basis

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