Best Fixed Deposit Accounts In Malaysia
The RinggitPlus Team
2 Aug - 5 min read
Last update: 2 August 2021
Best Fixed Deposit Promos – August 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 |
| 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 |
| Bank Rakyat (Term Deposit-i Over-The-Counter Promotion) |
– 2.48 (8 months)
– 2.58 (11 months) – 2.78 (18 months) |
RM10,000 | N/A | – 8 months
– 11 months – 18 months |
16 May – 31 Aug 2021 |
| CIMB Bank (CIMB Fixed Return Income Account-i via CIMB Clicks Promo) |
– 2.00 (3 months)
– 2.10 (6 months) – 2.15 (12 months) |
RM5,000 | N/A | – 3 months
– 6 months – 12 months |
2 June – 9 Sept 2021 |
| 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 July – 30 Sept 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 |
| RHB Bank (e-Commodity Murabahah Deposit-i Promotion 2021) |
– 2.50 (12 months)
– 2.55 (15 months) |
RM10,000 | N/A | – 12 months
– 15 months |
Over-the-counter
11 June – 31 August 2021 FPX 1 July – 31 August 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.
- MBSB 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 (1.90% for 3-month tenure) or KFH Junior International Commodity Murabahah Deposit-i (2.40% for 12-month tenure) for a relatively good profit rate.
- Meanwhile, senior citizens can apply for Agrobank Fixed Return Investment Account-i 45 Plus (2.00% for 6-month tenure) or BSN Term Deposit Senior Citizen (2.10% for 12-month tenure). Note that BSN has a slightly higher minimum deposit of RM5,000 as compared to Agrobank’s RM1,000.
- The highest interest rate recorded in this month’s round-up is 2.40% (Kuwait Finance House Malaysia; 12-month FD), whereas the lowest stood at 1.60% (AmBank Islamic; 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 |
| Al Rajhi Bank | Al Rajhi Term Deposit-i | RM500 | 1.70% | RM14.17 | PIDM |
| Bank Islam | Bank Islam Term Deposit-i | RM500 | 1.65% | RM13.75 | PIDM |
| AmBank Islamic | AmBank Islamic Term Deposit-i | 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 |
| MBSB Bank | MBSB Junior Term Deposit-i | RM500 | 1.90% | RM47.50 | PIDM |
| Bank Simpanan Nasional | BSN Term Deposit | RM500 | 1.80% | RM45.00 | PIDM |
| Bank of Nova Scotia | Bank of Nova Scotia Fixed Deposit | 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 |
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 45 Plus | RM1,000 | 2.00% | RM100.00 | 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 |
| Bank of China | Bank of China Fixed Deposit | RM1,000 | 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 Term Deposit-i | RM500 | 2.05% | RM153.75 | PIDM |
| Bank Simpanan Nasional | BSN 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 |
| RHB Bank | RHB Ordinary Fixed Deposit | RM500 | 1.80% | RM135.00 | PIDM |
| UOB Bank | UOB Fixed Deposit | RM500 | 1.75% | RM131.25 | PIDM |
Top 12-month FD rates in Malaysia
| Bank Name | Product Name | Minimum Deposit | Interest/Profit Rate | Profit on RM10,000 | Depositor’s Insurance |
| Kuwait Finance House Malaysia | KFH Junior International Commodity Murabahah Deposit-i | RM1,000 | 2.40% | RM240.00 | 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 |
| Bank of China | Bank of China Fixed Deposit Account | RM1,000 | 1.90% | RM190.00 | PIDM |
| CIMB Bank | CIMB Islamic Fixed Return Income Account-i Monthly Returns | RM1,000 | 1.85% | RM185.00 | 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 (6)
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
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 ?