Best Fixed Deposit Accounts In Malaysia - January 2022
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Best Fixed Deposit Accounts In Malaysia

Last update: 4 January 2022

Best Fixed Deposit Promos – January 2022

BankEffective Rate (% p.a.)Minimum DepositMaximum DepositTenurePromotion Period
Alliance Bank
(Alliance Privilege Customer Welcome Offer Promo – over the counter only)
3.0RM1,000RM200,0003 months1 Nov 2021 – 31 Mar 2022
Alliance Bank
(Banca FD Campaign 2021 – requires customers to invest in selected insurance plans)
– 9.88 (if purchase plan with annualised premium of RM10,000)

– 15 (if purchase plan with annualised premium of RM30,000)
RM1,000Up to one time of annualised premium amount of bancassurance product purchased3 months15 July – 31 Mar 2022
Alliance Bank
(Alliance Privilege UT Combo – requires customers to invest RM50,000 in selected unit trust products)
5.50RM1,000Up to one time of the invested minimum UT amount3 months15 June 2021 – 31 Mar 2022
AmBank
(FD/TD-i CASA Bundle Promo – requires customers to also deposit money into current or savings account)
– 3.10 (Individual customers)

– 3.20 (AmWafeeq Savings accountholders)

– 3.25 (AmBank SIGNATURE Priority Banking customers)
RM10,000– RM1 million (for AmBank SIGNATURE Priority Banking customers only)6 months8 Nov 2021 – 31 Jan 2022
CIMB Bank
(CIMB Fixed Return Income Account-i via CIMB Clicks (Web/Desktop Only) Promo)
– 2.10 (3 months)

– 2.20 (6 months)

– 2.30 (12 months)
RM5,000N/A– 3 months

– 6 months

– 12 months
1 – 31 Jan 2022
Hong Leong Bank
(Step Up Fixed Deposit Promotion)
– 2.00 (1 to 2 months)

– 2.30 (3 to 4 months)

– 2.90 (5 to 6 months)
RM10,000RM10 million– 1 to 2  months

– 3 to 4 months

– 5 to 6 months
1 Jan – 31 Mar 2022
Hong Leong Bank
(eFixed Deposit/eFixed Deposit-i Promotion)
– 2.25 (3 months)

– 2.30 (6 months)

– 2.40 (12 months)

– 2.45 (24 months)
RM10,000RM2 million– 3  months

– 6 months

– 12 months

– 24 months
1 Jan – 31 Mar 2022
Hong Leong Bank
(eFD/eFD-i Promo – for new eFD customers only)
2.45RM1,000RM100,0006 months1 Jan – 31 Mar 2022
Hong Leong Bank
(FD Bundle With Current Or Savings Account Promo – requires customers to also deposit money into current/savings account)
3.05RM100,000RM10 million12 months1 Jan – 31 Mar 2022
Hong Leong Bank
(2021 New-To-Priority Banking Campaign – requires customers to be a Priority banking customer and bundle with current/savings accounts)
4.00RM100,000N/A3 months1 Sept 2021 – 31 Jan 2022
Hong Leong Bank
(Exclusive Promo For Aged 50 And Above)
3.00RM10,000RM50,0001 month1 Sept 2021 – 31 Jan 2022
Maybank
(Fixed Deposit Combo campaign – requires customers to deposit money into selected current or savings accounts)
2.30– RM9,000 (for Kawanku Savings account and Golden Savers Savings account)

– RM49,500 (for Maybank2u Premier, Premier 1 account, and Premier Savings account)
N/A3 months 1 Dec 2021 – 19 Jan 2022
Public Bank
(FD/TD-i Campaign – applicable to PB Golden 50 PLUS Fixed Deposit Account, PLUS Fixed Deposit, and Term Deposit-i)
PB Golden 50 PLUS FD Account
– 2.25 (6 months)
– 2.30 (9 months)
– 2.35 (12 months)

PLUS FD/Term Deposit-i
– 2.20 (6 months)
– 2.25 (9 months)
– 2.30 (12 months)
RM5,000RM10 million– 3 months

– 6 months

– 12 months
1 Jan – 30 Apr 2022
RHB Bank
(RHB Term Deposit/e-Term Deposit campaign)
2.38RM10,000RM200,000 (FPX transfer) or maximum limit of customer’s banks8 months 1 Dec 2021 – 15 Jan 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, with Bank Rakyat offering one of the highest profit rates across board.
  • Junior savers can opt for the MBSB Junior Term Deposit-i (1.95% for 6-month tenure).
  • Meanwhile, senior applicants can apply for the Agrobank Fixed Return Investment Account-i 45 Plus (2.35% for 12-month tenure).
  • The highest interest rate recorded in this month’s round-up is 2.40% (Kuwait Finance House Malaysia; 12-month FD), whereas the lowest stood at 1.65% (Bank of China; 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 RakyatBank Rakyat Term Deposit Account-iRM5001.85%RM15.42Malaysian Govt
Bank MuamalatBank Muamalat Fixed Term Account-iRM1,0001.80%RM15.00PIDM
Bank Simpanan NasionalBSN Term DepositRM5001.75%RM14.58PIDM
Al Rajhi BankAl Rajhi Term Deposit-iRM5001.70%RM14.17PIDM
Bank of ChinaBank of China Fixed Deposit AccountRM1,0001.65%RM13.75PIDM

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-iRM5002.00%RM50.00Malaysian Govt
MBSB BankMBSB Term Deposit-iRM5001.90%RM47.50PIDM
Bank of Nova ScotiaBank of Nova Scotia Fixed DepositRM1,0001.75%RM43.75PIDM
Public BankPublic Bank eFixed DepositRM1,0001.70%RM42.50PIDM
Maybank IslamicMaybank Islamic Prosperous Now! Account-iRM1,0001.60%RM40.00PIDM

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-iRM5002.15%RM107.50Malaysian Govt
AgrobankAgrobank Fixed Return Investment Account-i RM1,0002.05%RM102.50Malaysian Govt
MBSB BankMBSB Junior Term Deposit-iRM5001.95%RM97.50PIDM
Bank Simpanan NasionalBSN Term Deposit-iRM5001.85%RM92.50PIDM
Alliance BankAlliance Bank Fixed DepositRM5001.80%RM90.00PIDM

Top 9-month FD rates in Malaysia

Bank NameProduct NameMinimum DepositInterest/Profit Rate Profit on RM10,000Depositor’s Insurance
Bank RakyatBank Rakyat Term Deposit Account-iRM5002.20%RM165.00Malaysian Govt
MBSB BankMBSB Term Deposit-iRM5002.05%RM153.75PIDM
Al Rajhi BankAl Rajhi Term Deposit-iRM5001.90%RM142.50PIDM
Bank of ChinaBank of China Fixed Deposit AccountRM1,0001.85%RM138.75PIDM
RHB IslamicRHB Islamic Commodity Murabahah Deposit-iRM1,0001.80%RM135.00PIDM

Top 12-month FD rates in Malaysia

Bank NameProduct NameMinimum DepositInterest/Profit Rate Profit on RM10,000Depositor’s Insurance
Kuwait Finance House MalaysiaKFH International Commodity Murabahah Deposit-iRM5002.40%RM240.00PIDM
AgrobankAgrobank Fixed Return Investment Account-i 45 PlusRM1,0002.35%RM235.00Malaysian Govt
Bank Simpanan NasionalBSN Term Deposit RM5002.20%RM220.00PIDM
Bank MuamalatBank Muamalat Fixed Term Account-iRM1,0002.05%RM205.00PIDM
CIMB BankCIMB Islamic Fixed Return Income Account-i Monthly ReturnsRM1,0001.85%RM185.00PIDM

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
1 year 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
6 months 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
3 months ago
Reply to  Martin

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

Patrick Liew
1 year 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
6 months ago

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

Arultharuman
1 month ago
Reply to  Jessie

For 200’000 rm pls inform public mutual interest rate

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