Best Fixed Deposit Accounts In Malaysia - February 2023
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Last update: 2 February 2023

Best Fixed Deposit Promos – February 2023

BankEffective Rate (% p.a.)Minimum DepositMaximum DepositTenurePromotion Period
Affin Bank
(eFD/eTD-i promo – only applicable for deposits made through AffinAlways)
– 3.93 (4 months)

– 3.95 (6 months)

– 4.00 (9 months)

– 4.15 (12 months)
RM10,000 RM200,000– 4 months

– 6 months

– 9 months

– 12 months
21 Jan – 3 Feb 2023
Alliance Bank
(SavePlus Account eFD promo – requires customers to open a SavePlus savings account)
4.10RM1,000RM100,00012 months14 Dec 2022 – 28 Feb 2023
Alliance Bank
(CNY Wealth and FD bundle – requires customers to sign up for unit trust or bancassurance products)
– 13.88 (3 months, with unit trust investment)

– 9.00 (6 months, with bancassurance products)
– RM1,000 N/A– 3 months (unit trust)

– 6 months (bancassurance)
5 Dec 2022 – 28 Feb 2023
Alliance Bank
(Investment & FD Bundle campaign – requires customers to invest in selected unit trust products)
– 7.25RM1,000Up to one time of invested unit trust amount3 months1 Oct 2022 – 31 Mar 2023
Alliance Bank
(Bancassurance & FD Bundle campaign – requires customers to purchase selected bancassurance products)
– 8.25 (products with minimum annualised premium of RM50,000)

– 6.25 (products with minimum annualised premium of RM10,000)
RM1,000Up to one time of annualised premium amount of purchased product6 months1 Oct 2022 – 31 Mar 2023
Alliance Bank
(New Investor Campaign – unit trust and FD bundle)
9.25RM1,000Up to one time of the invested unit trust amount3 months1 Oct 2022 – 31 Mar 2023
AmBank
(FD/TD-i promo – requires customers to sign up for current/savings accounts)
Bundle A (50:50)
AmBank SIGNATURE
Priority Banking

– 6.55 (6 months)
– 6.95 (12 months)

New-to-Priority Individual
– 6.60 (6 months)
– 7.00 (12 months)

Bundle B (70:30)
Individual
– 5.10 (6 months)
– 5.40 (12 months)

AmWafeeq Savings Account-i
– 5.15 (6 months)
– 5.45 (12 months)

AmBank SIGNATURE
Priority Banking

– 5.20 (6 months)
– 5.50 (12 months)

New-to-Priority Individual
– 5.25 (6 months)
– 5.55 (12 months)
RM10,000
– RM1 million (for all except AmWafeeq Savings Account-i customers, who do not have capping)– 6 months

– 12 months
8 Nov 2022 – 31 Mar 2023
Bank Simpanan Nasional
(BSN Term Deposit-i Senior campaign – customers must be aged 50 years and above)
– 2.65 (1 month)

– 2.95 (3 months)

– 3.00 (6 months)

– 3.05 (9 months)
RM1,000N/A– 1 month

– 3 months

– 6 months

– 9 months
17 Dec 2022 – 31 Mar 2023
CIMB Islamic Bank
(TIA-i campaign)
– 4.00 (6 months)

– 4.30 (12 months)
RM1,000N/A– 3  months

– 6 months

– 12 months
26 Jan – 14 Mar 2023
CIMB Bank
(FD/FRIA-i: CNY campaign)
– 3.58 (3 months)

– 3.98 (8 months)

– 4.20 (12 months)
RM1,000N/A– 3  months

– 8 months

– 12 months
30 Jan – 14 Mar 2023
Hong Leong Bank
(eFixed Deposit/-i CNY promotion)
– 3.93 (3 months)

– 4.13 (6 months)

RM10,000RM200,000 – 3  months

– 6 months
5 Jan – 15 Feb 2023
Hong Leong Bank
(Private
Banking & Priority Banking Welcome Proposition
– for new Private Banking and Priority customers only)
– 4.08 (without additional product applications)

– 4.18 (with additional product applications)
RM10,000RM500,0003 months5 Jan -28 Feb 2023
Hong Leong Bank
(FD and unit trust bundle – for Private Banking and Priority customers only, required to invest in selected unit trust products)
– 11.88 (1 month)

– 8.18 (3 months)
N/ARM25,000– 1 month

– 3 months
6 Jan – 28 Feb 2023
Hong Leong Bank
(FD and unit trust bundle – requires customers to invest in selected unit trust products)
– 9.88 (1 month)

– 7.18 (3 months)
N/ARM10,000– 1 month

– 3 months
6 Jan – 28 Feb 2023
Hong Leong Bank
(FD and insurance bundle – requires customers to purchase selected bancassurance products)
Single Premium Products
– 8.88 (3 months)

Regular Premium Products
– 10.88 (3 months)
– 5.38 (12 months)
RM1,000Single Premium Products
Up to 0.5x of premium amount

Regular Premium Products
Up to annual premium amount
– 3 months

– 12 months
1 Jan -28 Feb 2023
HSBC Bank
(Time Deposit Special Rate – only for new HSBC Premier Everyday Global Account customers)
– 4.18 (min placement RM200,000)

– 4.28 (min placement RM500,000)

– 4.38 (min placement RM1 million)
– RM200,000

– RM500,000

– RM1 million
N/A6 months19 Sept 2022 – 28 Feb 2023
MBSB Bank
(CNY TD-i campaign)
– 4.10 (6 months)

– 4.25 (12 months)

– 4.30 (15 months)
– RM10,000 (fresh funds)

– Additional RM10,000 (roll over)

* New customers can also deposit RM50,000 to enjoy campaign rate and stand a chance to win cash prizes
N/A– 6 months

– 12 months

– 15 months
20 Jan – 31 Mar 2023
OCBC Bank
(Li Chun FD promo)
– 3.85 (6 months)

– 4.00 (13 months)
RM1,000N/A– 6 months

– 13 months
30 Jan – 5 Feb 2023
Public Bank
(PB RCB Special FD/TD-i campaign – Red Carpet Banking customers are required to maintain a minimum
aggregated deposit amount)
Term Deposit-i
RCB Gold
– 3.55 (3 months)
– 3.95 (6 months)
– 4.05 (9 months)
– 4.15 (12 months)

RCB Elite
– 3.60 (3 months)
– 4.00 (6 months)
– 4.10 (9 months)
– 4.20 (12 months)

PLUS Fixed Deposit
RCB Gold
– 3.45 (3 months)
– 3.85 (6 months)
– 3.95 (9 months)
– 4.05 (12 months)

RCB Elite
– 3.50 (3 months)
– 3.90 (6 months)
– 4.00 (9 months)
– 4.10 (12 months)
RM10,000RM10 million– 3 months

– 6 months

– 9 months

– 12 months
1 Jan – 31 Mar 2023
Public Bank
(PB FD Bonanza campaign – only for PLUS Fixed Deposits)
– 3.90 (15 months)

– 3.80 (18 months)
RM5,000 per receiptRM10 million per customer– 15 months

– 18 months
1 Jan – 31 Mar 2023
Public Bank
(PB Special Fixed Deposit campaign)
PB Golden 50 PLUS Fixed Deposit Account
– 3.45 (3 months)
– 3.85 (6 months)
– 3.95 (9 months)
– 4.05 (12 months)

PLUS Fixed Deposit
– 3.40 (3 months)
– 3.80 (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 Jan – 31 Mar 2023
Public Bank
(eFD via FPX campaign)
– 3.45 (3 months)

– 3.85 (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 Jan – 31 Mar 2023
Standard Chartered Bank
(Special FD rates – for new Priority Banking with minimum RM250,000 AUM and other selected customers only)
4.18N/ARM200,0006 months 1 Jan – 28 Feb 2023

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 (2.95% for 6-month tenure).
  • Meanwhile, senior savers will be able to tap into BSN Term Deposit-i Senior Citizen (3.25% for 12-month tenure).
  • The highest interest rate recorded in this month’s round-up is 3.30% (Agrobank; 12-month FD), whereas the lowest stood at 2.40% (Standard Chartered 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 RakyatBank Rakyat Term Deposit Account-iRM5002.75%RM22.92Malaysian Govt
Bank IslamBank Islam Term Deposit-iRM5002.65%RM22.08PIDM
Alliance BankAlliance Bank Fixed Deposit RM5002.50%RM20.83PIDM
MaybankMaybank eFixed DepositRM1,0002.45%RM20.42PIDM
Standard Chartered BankStandard Chartered Fixed DepositRM1,0002.40%RM20.00PIDM

Top 3-month FD rates in Malaysia

Bank NameProduct NameMinimum DepositInterest/Profit Rate Profit on RM10,000Depositor’s Insurance
AgrobankAgrobank Fixed Return Investment Account-iRM1,0002.90%RM72.50Malaysian Govt
MBSB Bank MBSB Term Deposit-iRM5002.85%RM71.25PIDM
Bank of ChinaBank of China Fixed Deposit AccountRM1,0002.75%RM68.75PIDM
CIMB BankCIMB Unfixed DepositRM1,0002.70%RM67.50PIDM
Public Islamic BankPublic Bank Islamic Term Deposit-iRM1,0002.65%RM66.25PIDM

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-iRM1,0003.10% RM155.00Malaysian Govt
Bank RakyatBank Rakyat Term Deposit Account-iRM5003.00%RM150.00Malaysian Govt
MBSB Bank MBSB Junior Term Deposit-iRM5002.95%RM147.50PIDM
Bank Simpanan NasionalBSN Term DepositRM5002.85%RM142.50PIDM
Bank of Nova ScotiaBank of Nova Scotia Fixed DepositRM1,0002.80%RM140.00PIDM

Top 9-month FD rates in Malaysia

Bank NameProduct NameMinimum DepositInterest/Profit Rate Profit on RM10,000Depositor’s Insurance
AgrobankAgrobank Fixed Return Investment Account-iRM1,0003.20%RM240.00Malaysian Govt
MBSB Bank MBSB Term Deposit-iRM5003.05%RM228.75PIDM
Bank MuamalatBank Muamalat Fixed Term Account-iRM1,0002.95%RM221.25PIDM
Bank of ChinaBank of China Fixed Deposit AccountRM1,0002.85%RM213.75PIDM
Affin BankAffin Bank Fixed DepositRM5002.80%RM210.00PIDM

Top 12-month FD rates in Malaysia

Bank NameProduct NameMinimum DepositInterest/Profit Rate Profit on RM10,000Depositor’s Insurance
AgrobankAgrobank Fixed Return Investment Account-iRM1,0003.30%RM330.00Malaysian Govt
Bank Simpanan Nasional IslamicBSN Term Deposit-i Senior CitizenRM5,0003.25%RM325.00PIDM
Bank RakyatBank Rakyat Term Deposit Account-iRM5003.20%RM320.00Malaysian Govt
Bank MuamalatBank Muamalat Fixed Term Account-iRM1,0003.05%RM305.00PIDM
India International Bank India International Bank Fixed DepositRM1,0002.85%RM285.00PIDM

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
2 months ago

what is the name of the fund??

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
10 months ago
Reply to  CK LIM

He need monthly withdraw ….EPF can withdraw monthly?

Anonymous
9 months ago
Reply to  mugun

Yes you can request monthly withdrawal.

Anonymous
6 months ago
Reply to  mugun

Can

Anonymous
5 months ago
Reply to  mugun

He can coz he is a retiree soon

Anonymous
20 days ago
Reply to  mugun

Can be arranged with EPF .

Helen Mee Tsin Ryder
7 months 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
3 months ago

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

James
5 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

Nalni Parthipan
4 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
3 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.

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
11 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
Reply to  lim

Park inside EPF.

Anonymous
3 months ago
Reply to  lim

yah – Japan offers close to zero rate

Anonymous
1 month ago
Reply to  lim

pakistan with 14% interest rate lol

Anonymous
11 months ago

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

Jan
11 months ago

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

Philip Lee
11 months ago

Latest updated & promo FD term rate.
Thank you.

jessy
10 months ago

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

chookn
9 months ago

How about UOB?

Pat Liew
7 months ago

The best FD rate bank offer ?

Anonymous
5 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
4 months ago
Reply to  Anonymous

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

Anonymous
3 months ago
Reply to  Anonymous

because FD is not liquid enough la

Anonymous
4 months ago

MBSB bank giving 3.6% on 12M basis

Shu Jean
3 months ago

The FD interest rate is higher now

amad663
1 month ago
Reply to  Shu Jean

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

Captain Jack Sparrow
2 months ago

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

Anonymous
1 month ago

better return rate if buying a factory lot

nis
2 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
2 months ago
Reply to  nis

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

dania
2 months ago
Reply to  nis

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

Lmp
2 months ago
Reply to  dania

Deal for 6 months

Bathe
1 month ago
Reply to  Lmp

AM Bank 4.5 for 18mnths

ENCIK NIK
1 month ago

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

G.P
29 days ago

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

Ren
27 days ago

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

Shirley Erndt
19 days ago

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

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