Best Fixed Deposit Accounts In Malaysia - June 2023
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Last update: 6 June 2023

Best Fixed Deposit Promos – June 2023

BankEffective Rate (% p.a.)Minimum DepositMaximum DepositTenurePromotion Period
Affin Bank
(eFixed Deposit/eTerm Deposit-i (eFD/eTD-i) Campaign)
– 3.83 (4 months)

– 3.85 (6 months)

– 4.00 (9 months)

– 4.10 (12 months)
RM10,000RM200,000– 4 months

– 6 months

– 9 months

– 12 months
1 – 30 June 2023
Alliance Bank
(Dash4Cash eFD promotion – requires customers to apply and activate an Alliance SavePlus Account/-i)
4.20RM1,000RM100,00012 months1 Apr – 30 June 2023
Bank Islam
(MaxCash promotion – requires customers to deposit cash into TDT and invest in Al-Awfar)
5.90RM10,000 (70:30 between TDT and Al-Awfar, respectively)N/A12 months24 Mar – 31 Dec 2023
Bank Islam
(TDT Extra promotion)
4.25 (OPR + 1.5% p.a.)RM10,000N/A12 months24 Mar – 31 Dec 2023
Bank Simpanan Nasional
(Term Deposit-i bundle with BSN SSP Platinum promo – requires customers to tap into BSN SSP Platinum products)
5.88RM5,000 (70:30 between Term Deposit-i and BSN SSP Platinum, respectively)N/A6 months15 Feb – 15 Aug 2023
CIMB Bank
(eFD/eFRIA-i campaign – only on CIMB Clicks website)
– 3.53 (3 months)

– 3.83 (6 months)

– 3.90 (12 months)
RM1,000N/A– 3  months

– 6 months

– 12 months
10 May – 10 July 2023
Hong Leong Bank
(eFixed Deposit/-i promo)
– 3.85 (3 or 12 months)

– 3.90 (6 months)
RM10,000RM200,000 – 3  months

– 6 months

– 12 months
1 – 30 June 2023
Hong Leong Bank
(Branch Unit Trust & FD bundle promo – requires customers to invest in selected unit trust products)
– 9.88 (1 month)

– 7.18 (3 months)
RM10,000 (FD placement amount)N/A– 1 month

– 3 months
5 May – 30 June 2023
Hong Leong Bank
(Private Banking/Priority Banking Unit Trust & FD bundle promo – for new and existing Private/Priority Banking customers, and must invest in selected unit trust products)
– 11.88 (1 month)

– 8.18 (3 months)
RM25,000 (FD placement amount)N/A– 1 month

– 3 months
5 May – 30 June 2023
Maybank
(e-Islamic Fixed Deposit-i promo)
Transfer from non-Maybank acc via M2U web
– 3.87 (5 months)
– 3.98 (7 months)

Transfer from a Maybank/Maybank Islamic acc via M2U web
– 3.77 (5 months)
– 3.88 (7 months)
– RM1,000 (for transfers from non-MBB acc via M2U web)

– RM5,000 (for transfers from MBB/MBB Islamic acc via M2U web)
RM15 million– 5 months

– 7 months
30 May – 26 June 2023
Public Bank
(PB RCB Special FD/TD-i campaign – Red Carpet Banking customers are required to maintain a minimum
aggregated deposit amount)
RCB Gold
– 3.65 (3 months)
– 3.90 (6 months)
– 3.95 (9 months)
– 4.05 (12 months)

RCB Elite
– 3.70 (3 months)
– 3.95 (6 months)
– 4.00 (9 months)
– 4.10 (12 months)
RM10,000RM10 million– 3 months

– 6 months

– 9 months

– 12 months
1 Apr- 30 June 2023
Public Bank
(PB Special Fixed Deposit campaign – for PLUS Fixed Deposit only)
– 3.60 (3 months)

– 3.85 (6 months)

– 3.90 (9 months)

– 4.00 (12 months)
RM5,000 per receiptRM10 million per customer– 3 months

– 6 months

– 9 months

– 12 months
1 Apr – 30 June 2023
Public Bank
(eFD via FPX campaign)
– 3.65 (3 months)

– 3.90 (6 months)

– 3.95 (9 months)

– 4.05 (12 months)
RM5,000RM2 million (per eFD account)– 3 months

– 6 months

– 9 months

– 12 months
1 Apr – 30 June 2023
RHB Bank
(Unit Trust & FD/Commodity Murabahah Deposit-i campaign – requires customers to also invest in selected unit trust offerings)
– 21.00 (1 month)

– 9.60 (3 months)

– 6.70 (6 months)
RM30,000 (for FD placement and unit trust investment, respectively)N/A– 1 month

– 3 months

– 6 months
1 Apr – 30 June 2023
RHB Bank
(Amanah Saham Nasional Berhad Variable Price & FD/Commodity Murabahah Depositi Campaign – requires customers to also invest in ASNB offerings)
– 8.90 (1 month)

– 5.50 (3 months)

– 4.60 (6 months)
RM10,000 (for FD placement and ASNB investment, respectively)N/A– 1 month

– 3 months

– 6 months
1 Apr – 30 June 2023

Monthly Update

Here’s a roundup of this month’s updates to the best fixed deposit accounts in Malaysia.

  • Banks have revised their FD interest/profit rates upwards due to the OPR hike in May.
  • 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 (3.20% for 6-month tenure).
  • Meanwhile, senior savers will be able to tap into BSN Term Deposit-i Senior Citizen (3.50% for 12-month tenure).
  • The highest interest rate recorded in this month’s round-up is 3.50% (Bank Simpanan Nasional; 12-month FD), whereas the lowest stood at 2.70% (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 RakyatBank Rakyat Term Deposit Account-iRM5003.00%RM25.00Malaysian Govt
Bank MuamalatBank Muamalat Fixed Term Account-iRM1,0002.95%RM24.58PIDM
Bank of ChinaBank of China Fixed Deposit AccountRM1,0002.90%RM24.17PIDM
Alliance BankAlliance Bank Fixed DepositRM5002.75%RM22.92PIDM
MaybankMaybank eFixed DepositRM1,0002.70%RM22.50PIDM

Top 3-month FD rates in Malaysia

Bank NameProduct NameMinimum DepositInterest/Profit Rate Profit on RM10,000Depositor’s Insurance
MBSB BankMBSB Term Deposit-iRM5003.10%RM77.50PIDM
Bank Simpanan NasionalBSN Term DepositRM5003.05%RM76.25PIDM
Bank of ChinaBank of China Fixed Deposit AccountRM1,0003.00%RM75.00PIDM
Bank of Nova ScotiaBank of Nova Scotia Fixed DepositRM1,0002.95%RM73.75PIDM
Bank IslamBank Islam Term Deposit-iRM5002.90%RM72.50PIDM

Top 6-month FD rates in Malaysia

Bank NameProduct NameMinimum DepositInterest/Profit Rate Profit on RM10,000Depositor’s Insurance
Agrobank Agrobank Fixed Return Investment Account-iRM1,0003.30% RM165.00Malaysian Govt
Bank RakyatBank Rakyat Term Deposit Account-iRM5003.25%RM162.50Malaysian Govt
MBSB BankMBSB Junior Term Deposit-iRM5003.20%RM160.00PIDM
CIMB BankCIMB Unfixed DepositRM1,0003.05%RM152.50PIDM
RHB BankRHB Ordinary Fixed DepositRM5003.00%RM150.00PIDM

Top 9-month FD rates in Malaysia

Bank NameProduct NameMinimum DepositInterest/Profit Rate Profit on RM10,000Depositor’s Insurance
AgrobankAgrobank Fixed Return Investment Account-iRM1,0003.40%RM255.00Malaysian Govt
MBSB Bank MBSB Term Deposit-iRM5003.30%RM247.50PIDM
Bank MuamalatBank Muamalat Fixed Term Account-iRM1,0003.20%RM240.00PIDM
Bank of ChinaBank of China Fixed Deposit AccountRM1,0003.10%RM232.50PIDM
India International BankIndia International Bank Fixed DepositRM1,0003.05%RM228.75PIDM

Top 12-month FD rates in Malaysia

Bank NameProduct NameMinimum DepositInterest/Profit Rate Profit on RM10,000Depositor’s Insurance
Bank Simpanan NasionalBSN Term Deposit-i Senior CitizenRM5,0003.50%RM350.00PIDM
Bank RakyatBank Rakyat Term Deposit Account-iRM5003.45%RM345.00Malaysian Govt
MBSB Bank MBSB Term Deposit-iRM5003.40%RM340.00PIDM
Bank MuamalatBank Muamalat Fixed Term Account-iRM1,0003.30%RM330.00PIDM
Affin BankAffin Bank Fixed Deposit RM5003.10%RM310.00PIDM

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

Anonymous
7 months ago

what is the name of the fund??

Anonymous
23 days ago

Keep in your EPF, bullshit just want to eat your money.

CK LIM
1 year ago
Reply to  Martin

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

mugun
1 year ago
Reply to  CK LIM

He need monthly withdraw ….EPF can withdraw monthly?

Anonymous
1 year ago
Reply to  mugun

Yes you can request monthly withdrawal.

Anonymous
10 months ago
Reply to  mugun

Can

Anonymous
10 months ago
Reply to  mugun

He can coz he is a retiree soon

Anonymous
4 months ago
Reply to  mugun

Can be arranged with EPF .

Helen Mee Tsin Ryder
1 year 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.

Azizan
7 months ago

Got.
There are a few depending on your risk appetite.

Anonymous
3 months ago
Reply to  CK LIM

U cannot deposit 2m

James
9 months 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

Jimmy
1 month ago
Reply to  James

What’s the point of saying this? 🤦🏻‍♂️

Naz
26 days ago
Reply to  Jimmy

hahahahahhaha

Nalni Parthipan
8 months 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.

Azizan
7 months ago

Rule of thumb: Insurance/Takaful meant for coverage purposes not investment.
Yeah, there are product linked to the investment platform, but still cannot rely there to get good profits.

Anonymous
3 months ago
Reply to  Martin

Uncle go buy ETF…average 7-10% p.a.
or leave it in EPF average 6%/p.a. roughly 120K/yr
low risk and reasonable return
or go buy a few 300k house and collect rent..reasonable yield and future house appreciation.

Good luck

Jimmy
1 month ago
Reply to  Anonymous

Epf already can more than meet the rm8000 per month Martin requires.

Anonymous
1 month ago
Reply to  Martin

EPF

Anonymous
24 days ago
Reply to  Anonymous

EPF only allowed max 60K deposit per year. For RM2M, he needs 33 years to deposit all in 😛

Joe
15 days ago
Reply to  Martin

put in EPF…little did I expect that there are so many kind soul here asking you to park in EPF…pls listen to them…dont listen to those asking you to invest.

Patrick Liew
2 years ago

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

Sasa
2 years ago

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

ALAN CONRAD CHEONG CHI LOONG
2 years 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
1 year ago
Reply to  Jessie

For 200’000 rm pls inform public mutual interest rate

lim
1 year ago
Reply to  Jessie

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

Anonymous
8 months ago
Reply to  lim

Park inside EPF.

Anonymous
8 months ago
Reply to  lim

yah – Japan offers close to zero rate

Anonymous
5 months ago
Reply to  lim

pakistan with 14% interest rate lol

Anonymous
1 month ago
Reply to  Anonymous

Yeah but is their central bank governing the safety of your money?
Tomorrow your money may disappear like Alibaba.

Anonymous
1 year ago

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

Jan
1 year ago

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

Philip Lee
1 year ago

Latest updated & promo FD term rate.
Thank you.

jessy
1 year ago

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

chookn
1 year ago

How about UOB?

Anonymous
4 months ago
Reply to  chookn

uob has good rate.with monthly interest payout..

Pat Liew
1 year ago

The best FD rate bank offer ?

Anonymous
10 months ago

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

Anonymous
8 months ago
Reply to  Anonymous

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

Anonymous
7 months ago
Reply to  Anonymous

because FD is not liquid enough la

Anonymous
8 months ago

MBSB bank giving 3.6% on 12M basis

Shu Jean
7 months ago

The FD interest rate is higher now

amad663
6 months ago
Reply to  Shu Jean

Yup maybank offer as high as 3.85% for fresh funds. Crazy deals !!

Captain Jack Sparrow
6 months ago

Acquire a shop house and rent it out. Make sure the rental can generate RM8k a month.

Anonymous
5 months ago

better return rate if buying a factory lot

nis
6 months ago

If I’m nit mistaken maybank has other promos to like fresh funds (28/11-7/12) and their rates are superb

Pang Tun Yau
6 months ago
Reply to  nis

Yup, saw the flash deal. Keep an eye out for our updated FD promo for December post tomorrow!

Henry Lim
2 months ago
Reply to  Pang Tun Yau

Foreigners can apply for Sg Gov Treasury Bill for 6 months or 12 months, In Dec I placed S$600k in treasury bill at 4.4% cut-off year, equivalent to 4.5% per annum.

dania
6 months ago
Reply to  nis

that one with 3.85%? yeaaaa that deal is very tempting, might place funds on maybank soon

Lmp
6 months ago
Reply to  dania

Deal for 6 months

Bathe
5 months ago
Reply to  Lmp

AM Bank 4.5 for 18mnths

ENCIK NIK
6 months ago

I AM SO HAPPY FOR THE DETAILS FIX DEPOSIT INFORMATION AND I ANALYSIS FIRST ,THANK YOU.

G.P
5 months ago

Which is best investment platform FD or Unit trust? with low risk

Jimmy
1 month ago
Reply to  G.P

Lowest risk is FD. So depends on your appetite

Ren
5 months ago

Hi Agrobank have promo until 24/2/2023. 4.25% for 12 months, 4.1% for 6 months.

Pat
3 months ago
Reply to  Ren

Are all the banks now asking to register CRS before u can place a fix deposit ? And why ?

Shirley Erndt
4 months ago

Life is too short the world is wide.. I would’ve spent some.

Jimmy
1 month ago
Reply to  Shirley Erndt

Do spend in Malaysia. Thank you

Anonymous
1 month ago

MBSB Bank offrering 4.3 % effective rate as of now April 25th 2023

Anonymous
15 days ago
Reply to  Anonymous

Now BSN is High rate 5.8% untill 15 ogos 2023.

Sindy
1 month ago

Can someone explain about the 6months & 12 months FD which one is better?

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