Best Fixed Deposit Accounts In Malaysia - October 2021
The RinggitPlus Team
1 Oct - 6 min read
Last update: 1 October 2021
Best Fixed Deposit Promos – October 2021
| Bank | Effective Rate (% p.a.) | Minimum Deposit | Maximum Deposit | Tenure | Promotion Period |
| Alliance Bank (Cash Oh Cash eFD Campaign – requires customers to open an Alliance SavePlus account) | 2.40 | RM1,000 | N/A (until total allocation has been reached) | 12 months | 1 Aug – 31 Oct 2021 |
| Alliance Bank (Alliance Privilege Welcome Offer – requires customers to join Alliance Privilege) | 3.00 | RM1,000 | RM100,000 | 3 months | 1 July – 31 Oct 2021 |
| Alliance Bank (Alliance Privilege UT Combo – requires customers to invest RM50,000 in selected unit trust products) | 5.50 | RM1,000 | Up to one time of the invested minimum UT amount | 3 months | 15 June 2021 – 31 Mar 2022 |
| AmBank (eTD-i via FPX Promo – requires customer to key in promo code “BEST6”) | 2.40 | RM10,000 | RM200,000 or maximum limit of customer’s bank | 6 months | 20 Sept – 31 Oct 2021 |
| AmBank (FD/TD-i and CASA Combined Promotion – requires customers to also deposit money in current/savings account) | – 2.75 (Individual customers) – 2.88 (AmBank SIGNATURE Priority Banking customers) – 2.80 (AmWafeeq Savings accountholders) | RM10,000 | – RM2 million – No cap (only for AmWafeeq Savings accountholders) | 9 months | 7 Aug – 31 Oct 2021 |
| Bank Muamalat (FTA-i Special Rates Campaign) | – 2.40 (3 months) – 2.45 (6 months) – 2.50 (9 months) – 2.60 (12 months) – 2.80 (18 months) | RM5,000 | Subject to capping limit for each tenure | – 3 months – 6 months – 9 months – 12 months – 18 months | 1 Aug – 31 Dec 2021 |
| CIMB Bank (CIMB Fixed Return Income Account-i via CIMB Clicks (Web/Desktop Only) Promo) | – 2.10 (3 months) – 2.20 (6 months) – 2.30 (12 months) | RM5,000 | N/A | – 3 months – 6 months – 12 months | 27 Sept – 3 Nov 2021 |
| Hong Leong Bank (Step Up Fixed Deposit Promotion) | – 2.00 (1 to 2 months) – 2.30 (3 to 4 months) – 2.90 (5 to 6 months) | RM10,000 | RM5 million | – 1 to 2 months – 3 to 4 months – 5 to 6 months | 1 Oct – 31 Dec 2021 |
| Hong Leong Bank (eFixed Deposit/eFixed Deposit-i Promotion) | – 2.30 (3 months) – 2.35 (6 months) – 2.40 (12, 18, 24 months) | RM10,000 | RM2 million | – 3 months – 6 months – 12 months – 18 months – 24 months | 1 Oct – 31 Dec 2021 |
| Hong Leong Bank (eFD/eFD-i Promo – for new eFD customers only) | 2.45 | RM1,000 | RM100,000 | 6 months | 1 Oct – 31 Dec 2021 |
| Hong Leong Bank (FD Bundle With Current Or Savings Account Promo – requires customers to also deposit money into current/savings account) | 3.05 | RM100,000 | RM5 million | 12 months | 1 Oct – 31 Dec 2021 |
| Hong Leong Bank (2021 New-To-Priority Banking Campaign – requires customers to be a Priority banking customer and bundle with current/savings accounts) | 4.00 | RM100,000 | N/A | 3 months | 1 Sept 2021 – 31 Jan 2022 |
| Hong Leong Bank (Exclusive Promo For Aged 50 And Above) | 3.00 | RM10,000 | RM50,000 | 1 month | 1 Sept 2021 – 31 Jan 2022 |
| Public Bank (PB eFD via FPX campaign) | – 2.00 (1 month) – 2.10 (2 months) – 2.20 (3 months) | RM5,000 | RM2 million | – 1 month – 2 months – 3 months | 1 Oct – 31 Dec 2021 |
| Public Bank (FD/TD-i Campaign) | – 2.08 (3 months) – 2.28 (8 months) | RM10,000 | RM10 million | – 3 months – 8 months | 1 July – 31 Dec 2021 |
| Public Bank (PB Journey Junior Savers Campaign – requires customers to have a WISE savings account and a PLUS FD account) | – 2.10 (over-the-counter deposits) – 2.18 (deposits made through PB Journey app) | RM5,000 | RM5 million | – 4 months | 2 Aug – 30 Nov 2021 |
| Public Bank (PB Journey Golden Savers Campaign – requires customers to also have/open a savings account) | – 2.20 (6 months) – 2.30 (9 months) | RM5,000 | RM5 million | – 6 months – 9 months | 1 July – 31 Dec 2021 |
| UOB (Digital Account Opening Campaign – requires customers to also have/open a savings account via UOB Mighty app) | – 2.60 | RM10,000 | RM500,000 | – 12 months | 26 July – 31 Dec 2021 |
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.
- Bank Rakyat dominates across the board, offering high interest rates for FD with 1-month, 3-month, and 9-month tenures.
- Junior savers can opt for MBSB Junior Term Deposit-i (2.05% for 9-month tenure) or the KFH Junior International Commodity Murabahah Deposit-i (1.65% for 1-month tenure) for a relatively good profit rate.
- Meanwhile, senior applicants can apply for Agrobank Fixed Return Investment Account-i 45 Plus (2.35% for 12-month tenure) or the BSN Term Deposit Senior Citizen (2.10% for 12-month tenure). Note that BSN Term Deposit Senior Citizen has a higher minimum deposit requirement of RM5,000.
- The highest interest rate recorded in this month’s round-up is 2.40% (Bank Rakyat; 12-month FD), whereas the lowest stood at 1.60% (AmBank; 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 |
| MBSB Bank | MBSB Term Deposit-i | RM500 | 1.85% | RM15.42 | PIDM |
| Agrobank | Agrobank Fixed Return Investment Account-i | RM1,000 | 1.80% | RM15.00 | Malaysian Govt |
| Bank of Nova Scotia | Bank of Nova Scotia Fixed Deposit | RM1,000 | 1.70% | RM14.17 | PIDM |
| Kuwait Finance House Malaysia | KFH Junior International Commodity Murabahah Deposit-i | RM1,000 | 1.65% | RM13.75 | PIDM |
| AmBank | AmBank Conventional Fixed Deposit | RM500 | 1.60% | RM13.33 | 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 Simpanan Nasional | BSN Term Deposit | RM500 | 1.80% | RM50.00 | PIDM |
| Bank of China | Bank of China Fixed Deposit Account | RM1,000 | 1.75% | RM43.75 | PIDM |
| Public Bank | Public Bank eFixed Deposit | RM1,000 | 1.70% | RM42.40 | PIDM |
| Affin Bank | Affin Bank Fixed Deposit | RM500 | 1.65% | RM41.25 | PIDM |
| Maybank Islamic Bank | Maybank Islamic Prosperous Now! Account-i | RM1,000 | 1.60% | RM40.00 | 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 | 2.15% | RM107.50 | Malaysian Govt |
| Agrobank | Agrobank Fixed Return Investment Account-i | RM1,000 | 2.05% | RM102.50 | Malaysian Govt |
| Bank Muamalat | Bank Muamalat Fixed Term Account-i | RM1,000 | 1.95% | RM97.50 | PIDM |
| Al Rajhi Bank | Al Rajhi Term Deposit-i | RM500 | 1.85% | RM92.50 | PIDM |
| RHB Bank | RHB Ordinary Fixed Deposit | RM500 | 1.80% | RM90.00 | PIDM |
Top 9-month FD rates in Malaysia
| Bank Name | Product Name | Minimum Deposit | Interest/Profit Rate | Profit on RM10,000 | Depositor’s Insurance |
| MBSB Bank | MBSB Junior Term Deposit-i | RM500 | 2.05% | RM153.75 | PIDM |
| Bank Muamalat | Bank Muamalat Fixed Term Account-i | RM1,000 | 1.95% | RM146.25 | PIDM |
| Al Rajhi Bank | Al Rajhi Term Deposit-i | RM500 | 1.90% | RM142.50 | PIDM |
| Kuwait Finance House Malaysia | KFH International Commodity Murabahah Deposit-i | RM500 | 1.85% | RM138.75 | PIDM |
| CIMB Bank | CIMB Unfixed Deposit | RM1,000 | 1.80% | RM135.00 | 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 Rakyat | Bank Rakyat Term Deposit Account-i | RM500 | 2.40% | RM240.00 | Malaysian Govt |
| Agrobank | Agrobank Fixed Return Investment Account-i 45 Plus | RM1,000 | 2.35% | RM235.00 | Malaysian Govt |
| MBSB Bank | MBSB Term Deposit-i | RM500 | 2.15% | RM215.00 | PIDM |
| Bank Simpanan Nasional | BSN Term Deposit Senior Citizen | RM5,000 | 2.10% | RM210.00 | PIDM |
| Bank Muamalat | Bank Muamalat Fixed Term Account-i | RM1,000 | 2.05% | RM205.00 | 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!
About THE AUTHOR
The RinggitPlus Team
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Comments (7)
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.
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 ?