Best Fixed Deposit Accounts In Malaysia - September 2022
The RinggitPlus Team
1st September 2022 - 6 min read
Last update: 1 September 2022
Best Fixed Deposit Promos – September 2022
| Bank | Effective Rate (% p.a.) | Minimum Deposit | Maximum Deposit | Tenure | Promotion 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 (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 months | 1 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 product | 6 months | 1 Apr – 30 Sept 2022 |
| Alliance Bank (New Investor Campaign – unit trust and FD bundle) | 8.28 | RM1,000 | Up to one time of the invested unit trust amount | 3 months | 1 Apr – 30 Sept 2022 |
| Alliance Bank (Cooler Cashback e-FD – requires customers to set up mobile banking) | 3.05 | RM1,000 | RM10,000 | 12 months | 14 July – 30 Sept 2022 |
| AmBank (FD/CASA bundle promo – requires customers to deposit in their current/savings account-i as well) | – 3.85 (Individual customers) – 3.90 (AmWafeeq Savings Account-i accountholders) – 4.10 (AmBank SIGNATURE Priority Banking customers) | – RM10,000 | – RM1 million (Individual and AmBank SIGNATURE Priority Banking customers) – No capping (AmWafeeq Savings Account-i accountholders) | 6 months | 18 July – 30 Sept 2022 |
| AmBank (eTerm Deposit-i via FPX campaign – requires customers to key in a reward code “BEST12”) | 3.20 | RM10,000 | RM200,000 via FPX, or subject to customer’s transaction limit | 12 months | 18 July – 11 Sept 2022 |
| Bank Muamalat (FTA-i BIG Deals Campaign) | – 2.68 (6 months) – 2.95 (12 months) – 3.00 (18 months) | RM5,000 | – RM100 million (6 months) – RM400 million (12 months) – RM500 million (18 months) | – 6 months – 12 months – 18 months | 15 Apr – 15 Oct 2022 |
| Bank Rakyat (Term Deposit-i Account – for existing customers only) | 3.30 | RM10,000 | N/A | 12 months | 8 Aug – 30 Sept 2022 |
| Bank Simpanan Nasional (BSN Term Deposit-i Senior Citizen campaign) | 2.88 | RM5,000 | – RM5 million (6 months) | 6 months | 24 Aug – 31 Oct 2022 |
| CIMB Islamic Bank (CIMB FRIA-i Bundle with CASA-i campaign – requires customers to make placements in current or savings account as well) | 3.83 | RM10,000 | RM1 million | 6 months | 25 July – 30 Sept 2022 |
| CIMB Bank (CIMB eFixed Return Income Account-i promo) | – 2.40 (3 months) – 2.60 (6 months) – 2.85 (12 months) | RM5,000 | N/A | – 3 months – 6 months – 12 months | 18 July – 15 Sept 2022 |
| Hong Leong Bank (FD/CASA bundle campaign – requires customers to make placements in current or savings account as well) | 3.50 | RM100,000 | – RM10 million | 12 months | 1 July – 30 Sept 2022 |
| Hong Leong Bank (eFixed Deposit/-i promotion) | – 2.55 (3 months) – 2.85 (6 months) – 3.05 (12 months) – 3.30 (18 months) – 3.30 (24 months) | RM10,000 | RM200,000 | – 3 months – 6 months – 12 months – 18 months – 24 months | 1 Sept – 31 Oct 2022 |
| Hong Leong Bank (eFixed Deposit/-i promo – only for new customers) | 2.95 | RM1,000 | RM200,000 | 6 months | 1 Sept – 31 Oct 2022 |
| Maybank Islamic (Islamic Fixed Deposit RUSH campaign) | Fresh funds – 2.80 (6 months) – 3.00 (12 months) Non-fresh funds – 2.75 (6 months) – 2.95 (12 months) | RM10,000 | RM15 million | – 6 months – 12 months | 26 Aug – 7 Sept 2022 |
| Public Bank (PB RCB Special FD/TD-i campaign – for Red Carpet Banking customers only) | RCB Elite – 2.65 (3 months) – 2.75 (6 months) – 2.80 (9 months) – 2.85 (12 months) RCB Gold – 2.60 (3 months) – 2.70 (6 months) – 2.75 (9 months) – 2.80 (12 months) | RM10,000 | RM10 million | – 3 months – 6 months – 9 months – 12 months | 1 Sept – 31 Dec 2022 |
| Public Bank (PB eFD via FPX campaign) | – 2.60 (3 months) – 2.70 (6 months) – 2.75 (9 months) – 2.80 (12 months) | RM5,000 | RM2 million | – 3 months – 6 months – 9 months – 12 months | 1 Sept – 31 Dec 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.
- Junior savers can opt for MBSB Junior Term Deposit-i (2.45% for 6-month tenure).
- Meanwhile, senior applicants can apply for BSN Term Deposit Senior Citizen (2.60% for 12-month tenure).
- The highest interest rate recorded in this month’s round-up is 2.60% (Bank Simpanan Nasional; 12-month FD), whereas the lowest stood at 1.95% (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 |
| Bank Muamalat | Bank Muamalat Fixed Term Account-i | RM1,000 | 2.30% | RM19.17 | PIDM |
| MBSB Bank | MBSB Term Deposit-i | RM500 | 2.25% | RM18.75 | PIDM |
| Bank of China | Bank of China Fixed Deposit Account | RM1,000 | 2.15% | RM17.92 | PIDM |
| Public Bank | Public Bank eFixed Deposit | RM1,000 | 2.00% | RM16.67 | PIDM |
| Maybank | Maybank Fixed Deposit | RM1,000 | 1.95% | RM16.25 | 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 | 2.35% | RM58.75 | Malaysian Govt |
| Bank of China | Bank of China Fixed Deposit Account | RM1,000 | 2.25% | RM56.25 | PIDM |
| Agrobank | Agrobank Fixed Return Investment Account-i | RM1,000 | 2.21% | RM55.25 | Malaysian Govt |
| Alliance Bank | Alliance Bank Fixed Deposit | RM500 | 2.20% | RM55.00 | PIDM |
| Al Rajhi Bank | Al Rajhi Term Deposit-i | RM500 | 2.10% | RM52.50 | 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 | 2.50% | RM125.00 | Malaysian Govt |
| MBSB Bank | MBSB Junior Term Deposit-i | RM500 | 2.45% | RM122.50 | PIDM |
| Bank Simpanan Nasional | BSN Term Deposit | RM500 | 2.35% | RM117.50 | PIDM |
| CIMB Islamic | CIMB Islamic Fixed Return Income Account- Maturity Returns | RM1,000 | 2.30% | RM115.00 | PIDM |
| Bank Islam | Bank Islam Term Deposit-i | RM500 | 2.25% | RM112.50 | PIDM |
Top 9-month FD rates in Malaysia
| Bank Name | Product Name | Minimum Deposit | Interest/Profit Rate | Profit on RM10,000 | Depositor’s Insurance |
| MBSB Bank | MBSB Term Deposit-i | RM500 | 2.55% | RM191.25 | PIDM |
| Bank Muamalat | Bank Muamalat Fixed Term Account-i | RM1,000 | 2.45% | RM183.75 | PIDM |
| Bank of China | Bank of China Fixed Deposit Account | RM1,000 | 2.35% | RM176.25 | PIDM |
| Public Islamic Bank | Public Bank Islamic Term Deposit-i | RM1,000 | 2.30% | RM172.50 | PIDM |
| UOB Bank | UOB Fixed Deposit | RM500 | 2.25% | RM168.75 | PIDM |
Top 12-month FD rates in Malaysia
| Bank Name | Product Name | Minimum Deposit | Interest/Profit Rate | Profit on RM10,000 | Depositor’s Insurance |
| Bank Simpanan Nasional | BSN Term Deposit Senior Citizen | RM5,000 | 2.60% | RM260.00 | PIDM |
| Bank Muamalat | Bank Muamalat Fixed Term Account-i | RM1,000 | 2.55% | RM255.00 | PIDM |
| Agrobank | Agrobank Fixed Return Investment Account-i | RM1,000 | 2.39% | RM239.00 | Malaysian Govt |
| Bank of Nova Scotia | Bank of Nova Scotia Fixed Deposit | RM1,000 | 2.35% | RM235.00 | PIDM |
| RHB Bank | RHB Ordinary Fixed Deposit | RM500 | 2.30% | RM230.00 | 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!
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The RinggitPlus Team
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Comments (26)
I am retiring soon. Looking to park my pension Rm2m approx in a safe product with monthly devidents of Rm8k.
Any ideas?
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
You better off stick with EPF, which gives about 100k annual return which you want to.
He need monthly withdraw ….EPF can withdraw monthly?
Yes you can request monthly withdrawal.
Can
He can coz he is a retiree soon
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.
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
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.
Inform me the best All FD offer by banks
Other products offer are also welcome
ambank got new promo 2.98% 9 months until year end only
Hi, is the OCBC FD rate 2.9% until the end of Dec 2020?
Hi, what is the interest rate in Public Mutual unit trust money market ?
For 200’000 rm pls inform public mutual interest rate
local banks gives pathetic interest rate. Where else overseas investment s gives 6 to 7 precent per month!!!
Park inside EPF.
Hi is it possible to put 1bil in FD for 12months?
Hi, for the top 1 month FD rates, is no. 1 Bank Rakyat or Bank Muamalat? Thank you.
Latest updated & promo FD term rate.
Thank you.
hi there, pls advise best bank interest FD rates for RM 50K or RM 100K for 2 years, pls share
How about UOB?
The best FD rate bank offer ?
Affin has good promotional 6,9,12m FD rate too(I can’t find online, but visible when I apply new FD).
Why considering FD where you have the EPF who offers 6% annually?
MBSB bank giving 3.6% on 12M basis