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

Best Fixed Deposit Promos – June 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
(Alliance Coolest Cashback: eFD promo – requires customers to open a SavePlus/-i account)
2.80RM1,000RM50,00012 months1 Feb – 30 June 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
AmBank
(12-Month FD/TD-i and CASA Combined campaign – requires customers to have a current/savings account)
– 3.53 (individual customers)

– 3.63 (AmWafeeq Savings accountholders)

– 3.76 (AmBank SIGNATURE Priority Banking customers)

– 3.90 (new-to-bank SIGNATURE Priority Banking customers)
– RM10,000– RM2 million (individual customers)

– No cap (AmWafeeq savings accountholders)

– RM1 million (SIGNATURE Priority Banking customers)
12 months1 Apr – 30 June 2022
Bank Rakyat
(Bank Rakyat Term Deposit-i Year 2022 promo)
– 2.60 (12 months)

– 2.80 (24 months)
RM10,000N/A– 12 months

– 24 months
9 Mar – 9 July 2022
CIMB Bank
(CIMB eFixed Return Income Account-i )
– 2.35 (3 months)

– 2.45 (6 months)

– 2.55 (12 months)
RM5,000N/A– 3 months

– 6 months

– 12 months
1 June – 17 July 2022
Hong Leong Bank
(Step Up Fixed Deposit Promotion)
– 2.45 (1 to 12 months)

– 2.80 (13 to 24 months)

– 3.15 (25 to 36 months)
RM10,000– RM10 million– 1 to 12 months

– 13 to 24 months

– 25 to 36 months
1 Apr – 30 June 2022
Hong Leong Bank
(eFixed Deposit/eFixed Deposit-i Promotion)
– 2.15 (3 months)

– 2.25 (6 months)

– 2.60 (12 months)

– 2.65 (15 & 18 months)

– 2.75 (24 months)

RM10,000RM200,000 – 3  months

– 6 months

– 12 months

-15 months

– 18 months

– 24 months
1 Apr – 30 June 2022
Hong Leong Bank
(FD & CASA Bundle promotion – requires customers to have selected current/savings account)
3.05RM100,000RM10 million12 months4 Apr – 30 June 2022
Hong Leong Bank
(Raya Step Up 36 Months eFixed Deposit/-i promotion)
– 2.45 (1 to 12 months)

– 2.80 (13 to 24 months)

– 3.30 (25 to 36 months)
RM10,000RM200,000– 1 to 12 months

– 13 to 24 months

– 25 to 36 months
1 May – 30 June 2022
Hong Leong Bank
(eFixed Deposit/-i promo – only for new customers)
2.45RM1,000RM100,0006 months1- 30 June 2022
Public Bank
(PB eFD via FPX campaign)
– 2.30 (6 months)

– 2.35 (9 months)

– 2.40 (12 months)
RM5,000RM2 million – 6 months

– 9 months

– 12 months
1 May – 31 Aug 2022
Public Islamic Bank
(15-Month and 18-Month Term Deposit-i promo)
– 2.60 (15 months)

– 2.70 (18 months)
RM5,000– NIL (individual customers)

– RM50 million (non-individual customers)
– 15 months

-18 months
28 Mar – 30 July 2022
UOB Bank
(Mid Year 2022 Saturday Banking FD Plus promo – only on Saturdays, for over-the-counter transactions, and requires customers to bundle with a conventional savings or current account)
2.80RM10,000RM5 million12 months– 28 May 2022

– 4 June 2022

– 11 June 2022

– 18 June 2022

– 25 June 2022

Monthly Update

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

  • There has been an increase in the interest/profit rates offered by banks in the market due to the recent OPR hike.
  • Overall, Islamic FD products continue to offer higher interest rates compared to conventional FD products.
  • For short-term savings, you can opt for the Bank Rakyat Term Deposit Account-i (2.10% for 3-month tenure)
  • Junior savers can opt for the MBSB Junior Term Deposit-i (2.20% for 6-month tenure).
  • Meanwhile, senior applicants can apply for the Agrobank Fixed Return Investment Account-i 45 Plus (2.03% for 6-month tenure).
  • The highest interest rate recorded in this month’s round-up is 2.45% (Bank Simpanan Nasional; 12-month FD), whereas the lowest stood at 1.75% (Public Bank; 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-iRM1,0002.05%RM17.08PIDM
MBSB BankMBSBS Term Deposit-iRM5002.00%RM16.67PIDM
Bank IslamBank Islam Term Deposit-iRM5001.90%RM15.83PIDM
AgrobankAgrobank Fixed Return Investment Account-iRM1,0001.87%RM15.58PIDM
Public BankPublic Bank eFixed DepositRM1,0001.75%RM14.58PIDM

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-iRM5002.10%RM52.50Malaysian Govt
Bank of ChinaBank of China Fixed Deposit AccountRM1,0002.00%RM50.00PIDM
Bank of Nova ScotiaBank of Nova Scotia Fixed DepositRM1,0001.95%RM48.75PIDM
Maybank IslamicMaybank Islamic Prosperous Now! Account-iRM1,0001.85%RM46.25PIDM
UOBUOB Fixed DepositRM5001.80%RM45.00PIDM

Top 6-month FD rates in Malaysia

Bank NameProduct NameMinimum DepositInterest/Profit Rate Profit on RM10,000Depositor’s Insurance
MBSB BankMBSB Junior Term Deposit-iRM5002.20%RM110.00PIDM
Bank Simpanan NasionalBSN Term Deposit-iRM5002.10%RM105.00PIDM
CIMB BankCIMB Unfixed DepositRM1,0002.05%RM102.50PIDM
AgrobankAgrobank Fixed Return Investment Account-i 45 PlusRM1,0002.03%RM101.50Malaysian Govt
Affin BankAffin bank Fixed DepositRM5001.95%RM97.50PIDM

Top 9-month FD rates in Malaysia

Bank NameProduct NameMinimum DepositInterest/Profit Rate Profit on RM10,000Depositor’s Insurance
MBSB BankMBSB Term Deposit-iRM5002.30%RM172.50PIDM
Bank MuamalatBank Muamalat Fixed Term Account-iRM1,0002.20%RM165.00PIDM
Bank of ChinaBank of China Fixed Deposit AccountRM1,0002.10%RM157.50PIDM
AgrobankAgrobank Fixed Return Investment Account-iRM1,0002.08%RM156.00Malaysian Govt
RHBRHB Ordinary Fixed DepositRM5002.05%RM153.75PIDM

Top 12-month FD rates in Malaysia

Bank NameProduct NameMinimum DepositInterest/Profit Rate Profit on RM10,000Depositor’s Insurance
Bank Simpanan NasionalBSN Term DepositRM5002.45%RM245.00PIDM
MBSB Bank MBSB Term Deposit-iRM5002.40%RM240.00PIDM
Bank MuamalatBank Muamalat Fixed Term Account-iRM1,0002.35%RM230.00PIDM
Bank of ChinaBank of China Fixed Deposit AccountRM1,0002.15%RM215.00PIDM
Alliance BankAlliance Bank Fixed DepositRM5002.10%RM210.00PIDM

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
11 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
8 months ago
Reply to  Martin

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

mugun
3 months ago
Reply to  CK LIM

He need monthly withdraw ….EPF can withdraw monthly?

Anonymous
2 months ago
Reply to  mugun

Yes you can request monthly withdrawal.

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
11 months ago

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

Arultharuman
6 months ago
Reply to  Jessie

For 200’000 rm pls inform public mutual interest rate

lim
4 months ago
Reply to  Jessie

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

Anonymous
4 months ago

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

Jan
4 months ago

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

Philip Lee
3 months ago

Latest updated & promo FD term rate.
Thank you.

jessy
3 months ago

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

chookn
1 month ago

How about UOB?

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