What is Agrobank Fixed Deposit?
This is a conventional fixed deposit ( FD) from Agrobank. All you need is RM500 to start earning profit at high interest. If you prefer a short term deposit of only one month the minimum deposit is RM2500.
Can I withdraw my money at any time?
You can only withdraw cash after the FD period has ended. You are not allowed to withdraw partially or early. Sure, you can end the FD account at any time and get your money out but you will lose any interest that you've earned.
When will I get the interest?
Agrobank will pay the interest on the date of maturity - direct cash to your bank account. If you place this fixed deposit for more then twelve months you'll receive an interest payment every three months.
Can I renew this term deposit when it ends?
Of course you can. If you do not withdraw money when your FD matures, or instruct the Agrobank to close the account, the bank will also automatically renew your FD with the same terms and conditions. Any profit you earned from your initial FD will be reinvested.
Great! How do I open an account?
You can open an Agrobank FD easily with your Identification Card and a cash deposit of RM500.
Is this deposit protected?
Under Development of Financial Institution Act, you will get implicit protection from Ministry of Finance. So, yes, it is protected.