Last update: 4 January 2021
Best Fixed Deposit Promos – January 2021
| Bank | Effective Rate (% p.a.) | Minimum Deposit | Maximum Deposit | Tenure | Promotion Period |
| Affin Bank (Combo Special Campaign – requires the opening and maintenance of a current/savings account to qualify for the campaign) |
– 1.98 (3 months)
– 2.18 (6 months) – 2.22 (9 months) – 2.28 (12 months) |
– RM10,000 (RM9,000 in FD and RM1,000 in current or savings account) | – RM1 million (RM900,000 in FD and RM100,000 in current or savings account) | – 3 months
– 6 months – 9 months – 12 months |
1 to 19 Jan 2021 |
| Alliance Bank (2021 Wealth and Fixed Deposit Campaign – requires investment in selected unit trust funds or purchase Banca Regular Premium products to qualify for the promotion) |
– 20.21 (1 month)
– 6.38 (3 months) |
RM1,000 | N/A | – 1 month
– 3 months |
4 Jan to 31 Mar 2021 |
| CIMB (eFixed Deposit Promotion on CIMB Clicks Web/Desktop only) |
– 2.10 (3 months)
– 2.20 (6 months) – 2.25 (12 months) |
RM5,000 | N/A | – 3 months
– 6 months – 12 months |
11 Nov 2020 to 20 Jan 2021 |
| HSBC Premier (Wealth and Banca Bundle Q1 2021 – requires investment in selected banca/wealth products to qualify for the campaign) |
– 2.88
– 4.38 – 6.38 |
RM50,000 | N/A | – 3 months | 4 Jan to 31 Mar 2021 |
| Hong Leong Bank (FD Pledge Credit Cards Campaign – requires customers to apply for a new HLB credit card by pledging an FD) |
4.00 | RM2,000 | RM50,000 | – 3 months | 1 Jan to 31 Mar 2021 |
| Hong Leong Bank (eFixed Deposit-i) |
– 2.30 (3 months)
– 2.35 (6 months) – 2.30 (12 months) |
RM10,000 | RM2 million | – 3 months
– 6 months – 12 months |
8 Jan to 31 Mar 2021 |
| OCBC Bank (Online FD Promo) |
1.90 | RM1,000 | Subject to online banking withdrawal limit by customer’s bank | 12 months | 5 Nov to 31 Jan 2021 |
| Public Bank (PB Fixed Deposit/Term Deposit-i Campaign) |
– 2.08 (3 months)
– 2.28 (8 months) |
RM10,000 | RM10 million | – 3 months
– 8 months |
1 Jan to 31 Mar 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 |
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 most 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.
- The highest interest rate recorded in this month’s round-up is 2.40% (KFH Malaysia; 12-month FD), whereas the lowest stood at 1.50% (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 Name | Product Name | Minimum Deposit | Interest/Profit Rate | Profit on RM10,000 | Depositor’s Insurance |
| MBSB Bank | MBSB Junior Term Deposit-i | RM500 | 1.85% | RM15.42 | PIDM |
| Bank Muamalat | Bank Muamalat Fixed Term Account-i | RM1,000 | 1.80% | RM15.00 | PIDM |
| Bank of Nova Scotia | Bank of Nova Scotia Fixed Deposit | RM1,000 | 1.70% | RM14.17 | PIDM |
| Bank of China | Bank of China Fixed Deposit Account | RM1,000 | 1.65% | RM13.75 | PIDM |
| Maybank | Maybank Fixed Deposit | RM1,000 | 1.50% | RM12.50 | 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 | – |
| Agrobank | Agrobank Fixed Return Investment Account-i | RM1,000 | 1.90% | RM47.50 | – |
| India International Bank | India International Bank Fixed Deposit | RM1,000 | 1.85% | RM46.25 | PIDM |
| Al-Rajhi Bank | Al-Rajhi Term Deposit-i | RM500 | 1.80% | RM45.00 | PIDM |
| Alliance Bank | Alliance Islamic Term Deposit-i | RM500 | 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 45 Plus | RM1,000 | 2.00% | RM100.00 | – |
| Bank Muamalat | Bank Muamalat Fixed Term Account-i | RM1,000 | 1.95% | RM97.50 | PIDM |
| Affin Bank | Affin Bank Fixed Deposit | RM500 | 1.85% | RM92.50 | PIDM |
| RHB Islamic Bank | RHB Islamic Commodity Murabahah Deposit-i | RM1,000 | 1.80% | RM90.00 | PIDM |
Top 9-month FD rates in Malaysia
| Bank Name | Product Name | Minimum Deposit | Interest/Profit Rate | Profit on RM10,000 | Depositor’s Insurance |
| Bank Rakyat | Bank Rakyat Term Deposit Account-i | RM500 | 2.20% | RM165.00 | – |
| MBSB Bank | MBSB Term Deposit-i | RM500 | 2.05% | RM153.75 | – |
| Bank Simpanan Nasional | BSN Term Deposit | RM500 | 1.90% | RM142.50 | PIDM |
| Kuwait Finance House Malaysia | KFH International Commodity Murabahah Deposit-i | RM1,000 | 1.85% | RM138.75 | PIDM |
| CIMB Bank | CIMB Unfixed Deposit | RM1,000 | 1.80% | RM135.00 | PIDM |
Top 12-month FD rates in Malaysia
| Bank Name | Product Name | Minimum Deposit | Interest/Profit Rate | Profit on RM10,000 | Depositor’s Insurance |
| Kuwait Finance House Malaysia | KFH Junior International Commodity Murabahah Deposit-i | RM1,000 | 2.40% | RM240.00 | PIDM |
| Agrobank | Agrobank Fixed Return Investment Account-i | RM1,000 | 2.35% | RM235.00 | – |
| MBSB Bank | MBSB Term Deposit-i | RM500 | 2.15% | RM215.00 | PIDM |
| Al-Rajhi Bank | Al-Rajhi Term Deposit-i | RM500 | 2.00% | RM200.00 | PIDM |
| India International Bank | India International Bank Fixed Deposit | RM1,000 | 1.95% | RM195.00 | 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
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