Last update: 1 July 2020
Best Fixed Deposit Promos – July 2020
| Bank | Effective Rate (% p.a.) | Minimum Deposit | Maximum Deposit | Tenure | Promotion Period |
| Affin Bank/Affin Islamic Bank (eFixed Deposit Campaign) |
|
RM10,000 | RM10,000 |
|
1 July to 7 July 2020 |
| AmBank/AmBank Islamic (Fixed Deposit/Term Deposit-i – only through AmOnline Web via FPX) |
2.65 | RM10,000 | N/A | 6 months | 16 June to 8 July 2020 |
| AmBank/AmBank Islamic (FD/TD-i and Current/Savings Account Combined Promotion) |
|
|
|
6 months | 4 June to 31 Aug 2020 |
| Bank Rakyat (Term Deposit-i Campaign – only for existing customers) |
|
RM10,000 | N/A |
|
15 June to 15 Nov 2020 |
| Hong Leong Bank (eFixed Deposit/eFixed Deposit-i – 1-Day Special Promotion) |
2.80 | RM5,000 | RM200,000 | 3 months | Only on 7 July 2020 (6am to 11.55pm) |
| Hong Leong Bank (eFixed Deposit/eFixed Deposit-i Digital Days Promotion) |
2.75 | RM5,000 | RM2 million | 3 months | 1 to 31 July 2020 |
| OCBC Bank (Fixed Deposit Online Promotion – for online placements only) |
2.60 | RM1,000 | RM50,000 | 10 months | 22 June to 7 July 2020 |
| OCBC Bank (Premier Deal) |
3.15 | RM10,000 | RM3 million | 3 months | 1 Apr to 31 Dec 2020 |
| Public Bank (FD/TD-i Campaign) |
2.30 | RM10,000 | RM10 million | 3 months | 1 to 31 July 2020 |
| RHB Bank (Commodity Murabahah Deposit-i Promotion) |
|
RM10,000 | N/A |
|
26 June to 31 Aug 2020 |
Monthly Update
Here’s a roundup of this month’s updates to the best fixed deposit accounts in Malaysia.
- Overall, Islamic FD products are offering higher interest rates compared to conventional FD products across board.
- Bank Rakyat Term Deposit Account-i offers one of the best rates for 3-month, 6-month, and 9-month FD savings – making it a promising FD option. However, note that it is not protected by PIDM.
- The rates for the top 12-month FD savings have the biggest profit/interest gap between products.
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 |
| Affin Bank | Affin Bank Fixed Deposit | RM500 | 2.10% | RM17.50 | PIDM |
| India International Bank | India International Bank Fixed Deposit | RM1,000 | 2.05% | RM17.08 | PIDM |
| Bank Simpanan Nasional | BSN Term Deposit | RM500 | 2.00% | RM16.67 | PIDM |
| Bank of Nova Scotia | Bank of Nova Scotia Fixed Deposit | RM1,000 | 1.95% | RM16.25 | PIDM |
| Bank of China | Bank of China Fixed Deposit Account | RM1,000 | 1.90% | RM15.83 | 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 | 2.25% | RM56.25 | – |
| Affin Islamic Bank | Affin Islamic Term Deposit-i | RM500 | 2.20% | RM55.00 | PIDM |
| Agrobank | Agrobank Fixed Return Investment Account-i | RM1,000 | 2.15% | RM53.75 | – |
| Bank Muamalat | Bank Muamalat Fixed Term Account-i | RM1,000 | 2.10% | RM52.50 | PIDM |
| Al-Rajhi Bank | Al-Rajhi Term Deposit-i | RM500 | 2.05% | RM51.25 | 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 | 2.40% | RM120.00 | – |
| Agrobank | Agrobank Fixed Return Investment Account-i | RM1,000 | 2.30% | RM115.00 | – |
| Affin Islamic Bank | Affin Islamic Term Deposit-i | RM500 | 2.25% | RM112.50 | PIDM |
| MBSB Bank | MBSB Junior Term Deposit-i | RM500 | 2.20% | RM110.00 | PIDM |
| Bank Islam | Bank Islam Term Deposit-i | RM500 | 2.10% | RM105.00 | 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 | 2.45% | RM183.75 | – |
| Agrobank | Agrobank Fixed Return Investment Account-i | RM1,000 | 2.35% | RM176.25 | – |
| MBSB Bank | MBSB Junior Term Deposit-i | RM500 | 2.30% | RM172.50 | PIDM |
| Bank Muamalat | Bank Muamalat Fixed Term Account-i | RM1,000 | 2.20% | RM165.00 | PIDM |
| Al-Rajhi Bank | Al-Rajhi Term Deposit-i | RM500 | 2.15% | RM161.25 | PIDM |
Top 12-month FD rates in Malaysia
| Bank Name | Product Name | Minimum Deposit | Interest/Profit Rate | Profit on RM10,000 | Depositor’s Insurance |
| Alliance Islamic Bank | Alliance Islamic Junior Smart Term Deposit-i | RM500 | 3.10% | RM310.00 | PIDM |
| Kuwait Finance House | KFH Junior International Commodity Murabahah Deposit-i | RM1,000 | 2.65% | RM265.00 | PIDM |
| Bank Simpanan Nasional | BSN Term Deposit-i | RM500 | 2.45% | RM245.00 | PIDM |
| MBSB Bank | MBSB Term Deposit-i | RM500 | 2.40% | RM240.00 | PIDM |
| Bank Simpanan Nasional | BSN Term Deposit-i Senior Citizen | RM5,000 | 2.35% | RM235.00 | 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!
