Compare and Find the Best Fixed Deposit Rates in Malaysia

Last updated: 7 April 2014

How much are you saving?

RM

For how long?

year(s) month(s)

Quick Fixed Deposit Tips:

  1. Check that your fixed deposit is protected under Perbadanan Insurans Deposit Malaysia (PIDM).
  2. Watch out for hidden fees & charges (e.g. setup cost / establishment fee).
  3. Don't break your agreement or access your fixed deposit early to avoid break cost or penalty fee.
Bank / FD Name Minimum deposit Term Interest Rate
(% per year)
Total Interest Earned
Affin Bank Fortune Rides Your Way RM2,000
Plus minimum in current / savings account: RM1,000
1 year 3.00% (advertised promo rate) Actual effective interest rate 3.00% click to learn more RM1,000 Apply Now
Affin Bank Fixed Deposit RM5,000 1 year 3.00% RM1,000 Apply Now
Affin Islamic General Investment Account-i RM5,000 1 year 3.00% RM1,000 Apply Now
Alliance Bank Fixed Deposit RM500 1 year 3.00% RM1,000 Apply Now
Alliance Islamic Bank Investment Account-i RM500 1 year 3.00% RM1,000 Apply Now
AmBank Am50Plus RM5,000 1 year 3.00% RM1,000 Apply Now
AmBank Fixed Deposit RM500 1 year 3.00% RM1,000 Apply Now
AmIslamic Bank General Investment Account-i RM500 1 year 3.00% RM1,000 Apply Now
AmIslamic Bank Am50Plus Investment Account-i RM5,000 1 year 3.00% RM1,000 Apply Now
Bank Rakyat Deposits Account-i RM500 1 year 3.00% RM1,000 Apply Now
BSN Senior Citizen Fixed Deposit Account (above RM50,000) RM50,000 1 year 3.00% RM1,000 Apply Now
BSN Senior Citizen Fixed Deposit Account (RM5,000 to RM50,000) RM5,000 1 year 3.00% RM1,000 Apply Now
BSN AHSAN General Investment RM500 1 year 3.00% RM1,000 Apply Now
BSN Fixed Deposit Account RM500 1 year 3.00% RM1,000 Apply Now
BSN AHSAN Senior General Investment RM5,000 1 year 3.00% RM1,000 Apply Now
CIMB Bank Fixed Deposit Account RM1,000 1 year 3.00% RM1,000 Apply Now
CIMB Bank Big Plus for 50 Plus RM30,000 1 year 3.00% RM1,000 Apply Now
CIMB Islamic General Investment Account-i RM1,000 1 year 3.00% RM1,000 Apply Now
Citibank Time Deposit-i RM1,000 1 year 3.00% RM1,000 Apply Now
Citibank Time Deposit RM1,000 1 year 3.00% RM1,000 Apply Now
Hong Leong CNY 6-month Fixed Deposit Step Up RM5,000
Plus minimum in current / savings account: RM400
1 year 3.00% (advertised promo rate) Actual effective interest rate 3.00% click to learn more RM1,000 Apply Now
Hong Leong Chinese New Year Open House Deposits Promotion RM5,000
Plus minimum in current / savings account: RM5,000
1 year 3.00% (advertised promo rate) Actual effective interest rate 3.00% click to learn more RM1,000 Apply Now
Hong Leong 12-Month Fixed Deposit Step Up Promotion RM10,000
Plus minimum in current / savings account: RM500
1 year 3.00% (advertised promo rate) Actual effective interest rate 3.00% click to learn more RM1,000 Apply Now
Hong Leong 6-month Fixed Deposit Step Up Rates with CASA RM10,000
Plus minimum in current / savings account: RM600
1 year 3.00% (advertised promo rate) Actual effective interest rate 3.00% click to learn more RM1,000 Apply Now
Hong Leong Fixed Deposit RM500 1 year 3.00% RM1,000 Apply Now
Hong Leong Senior Savers Flexi FD RM10,000 1 year 3.00% RM1,000 Apply Now
Hong Leong Islamic Term Deposit-i (above RM 1 million) RM500 1 year 3.00% RM1,000 Apply Now
Hong Leong Islamic Term Deposit-i (RM 200,000 to RM 1 million) RM500 1 year 3.00% RM1,000 Apply Now
Hong Leong Islamic Junior General Investment Account-i RM1,000 1 year 3.00% RM1,000 Apply Now
Hong Leong Islamic General Investment Account-i RM500 1 year 3.00% RM1,000 Apply Now
Hong Leong Islamic Term Deposit-i RM500 1 year 3.00% RM1,000 Apply Now
Mach FD RM1,000 1 year 3.00% RM1,000 Apply Now
Maybank eFixed Deposit RM1,000 1 year 3.00% RM1,000 Apply Now
Maybank Fixed Deposit Account RM1,000 1 year 3.00% RM1,000 Apply Now
Maybank Islamic General Investment Account-i (GIA-i) RM1,000 1 year 3.00% RM1,000 Apply Now
Maybank Islamic Fixed Deposit-i (IFD-i) RM1,000 1 year 3.00% RM1,000 Apply Now
MBSB The Golden Horse - Triple Rewards Campaign RM80,000
Plus minimum in current / savings account: RM20,000
1 year 3.00% RM1,000 Apply Now
MBSB Fixed Deposit RM1,000 1 year 3.00% RM1,000 Apply Now
OCBC MYR Fixed Deposit RM1,000 1 year 3.00% RM1,000 Apply Now
OCBC Al-Amin Nabil General Investment Account-i RM1,000 1 year 3.00% RM1,000 Apply Now
Public Bank Super FD Gets Even Better RM24,000
Plus minimum in savings account: RM6,000
1 year 3.00% (advertised promo rate) Actual effective interest rate 3.00% click to learn more RM1,000 Apply Now
Public Bank PLUS Fixed Deposit Account RM1,000 1 year 3.00% RM1,000 Apply Now
Public Bank PB Golden 50 Plus Fixed Deposit (FD) Account RM30,000 1 year 3.00% RM1,000 Apply Now
Public Islamic Bank Mudharabah General Investment Account-i RM1,000 1 year 3.00% RM1,000 Apply Now
RHB Senior Fixed Deposit RM10,000 1 year 3.00% RM1,000 Apply Now
RHB Ordinary Fixed Deposit RM500 1 year 3.00% RM1,000 Apply Now
RHB Islamic Bank Mudharabah General Investment Account-i RM500 1 year 3.00% RM1,000 Apply Now
Standard Chartered Saadiq General Investment Account-i RM1,000 1 year 3.00% RM1,000 Apply Now
UOB Golden Saver RM100,000 1 year 3.00% RM1,000 Apply Now
UOB Fixed Deposit RM500 1 year 3.00% RM1,000 Apply Now

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About Fixed Deposits
Fixed Deposits Tips

What is a Fixed Deposit account?

A Fixed Deposit account (FD) is a financial instrument offered by banks, which allows you to save your money for a fixed period of time to generate higher interest compared to a conventional savings account. In many western countries, FD is also known as term deposit or time deposit.

How does a Fixed Deposit account work?

In a typical FD arrangement, you place a sum of money into a bank by cash or cheque, and receive in return a certificate of deposit indicating the deposited amount, the interest and the maturity date. At the specified maturity date, you then return the certificate of deposit to the bank to withdraw your deposited amount plus interest.

How to get higher interest from your FD?

FD's generally provide savers with higher interest rates than regular savings accounts. As such, if you have some spare cash that you do not need access to, you can boost your income by choosing to invest in it.

  • Take advantage of FD promotions: Most banks run FD promotions a few times a year in order to entice new and recurring customers. Interest rates from FD promotions are usually higher than the board rate. Keep yourself updated with the latest FD promotions by checking iMoney’s online calculator regularly (Scroll up to use the calculator).
  • Compare the rates: Different banks have different FD interest rates. To get maximum returns from your deposits, check the rates of all the banks before opening an FD. This can also be done via iMoney’s online calculator. If you are interested in Shari'ah compliant FDs only, check our comparison page for Islamic Fixed Deposits
  • Lengthen your Fixed Deposit period: Typically, the longer your FD period is, the higher the interest rate is. However, bear in mind that you may risk losing all or part of your interest if the fund is withdrawn prematurely.

What happens if you terminate your FD before the maturity date?

Based on the standard policy of major banks in Malaysia, you will instantly lose all interest if you:

  • make a premature withdrawal from an FD with a term of one, two or three months
  • make a premature withdrawal before three months from an FD account with a term longer then three months

However, if you make a premature withdrawal from an FD after three months, you get to keep half of the interest generated.

Are your FD deposits safe?

In Malaysia, all deposits made at a member bank are automatically protected by Perbadanan Insurans Deposit Malaysia (PIDM). In the event that your bank fails, PIDM protects you against the loss of your deposits, but only for up to RM250,000 per depositor per bank. For peace of mind, look for the PIDM sign that indicates your bank is a member bank.

For those with more than RM250,000, consider getting maximum protection by depositing your money in sums of RM250,000 with different banks. Alternatively, you can also place your money into an Islamic account or a joint-name account with the same bank, as they are insured separately. For more information on PIDM, click here.

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