What are the best fixed deposits in Malaysia? This is one of the most common questions we hear from Malaysians who want a stable and safe form of savings. With its combination of zero risk, guaranteed returns and the flexibility to choose the term of deposit, many people use fixed deposits as a reliable form of short to medium term savings.
Most time deposit accounts in Malaysia are also regulated by Perbadanan Insurans Deposit Malaysia (PIDM), which protects your investments in the event of a member bank failure. Therefore, the main considerations when determining which time deposit account to deposit your money into should be the interest rate, the minimum deposit amount, and whether they are protected by the PIDM.
Here are the funds that performed more consistently in November
| Bank | Effective Rate (% p.a.) | Minimum Deposit | Maximum Deposit | Tenure | Promotion Period |
| Affin Bank (Affin Banca Deposit campaign – requires customers to purchase bancasurrance products) |
– 9.88 or 19.88 (1 month)
– 5.88 or 11.88 (3 months) |
RM10,000 or RM50,000 (depending on banca product) | N/A | – 1 month
– 3 months |
7 Sept – 31 Dec 2022 |
| Alliance Bank (Investment & FD Bundle campaign – requires customers to invest in selected unit trust products) |
– 7.00 | RM1,000 | – Up to one time of invested unit trust amount | 3 months | 1 Oct 2022 – 31 Mar 2023 |
| Alliance Bank (Bancassurance & FD Bundle campaign – requires customers to purchase selected bancassurance products) |
– 8.00 (products with minimum annualised premium of RM50,000)
– 6.00 (products with minimum annualised premium of RM10,000) |
RM1,000 | – Up to one time of annualised premium amount of purchased product | 6 months | 1 Oct 2022 – 31 Mar 2023 |
| Alliance Bank (New Investor Campaign – unit trust and FD bundle) |
9.00 | RM1,000 | Up to one time of the invested unit trust amount | 3 months | 1 Oct 2022 – 31 Mar 2023 |
| Alliance Bank (Cooler Cashback e-FD – requires customers to set up mobile banking) |
3.40 | RM1,000 | RM100,000 | 12 months | 1 Oct – 30 Nov 2022 |
| AmBank (FD/CASA bundle promo – requires customers to deposit in their current/savings account-i as well) |
– 4.60 (Individual customers & AmBank SIGNATURE Priority Banking customers (AmStar Current Account/-i))
– 4.65 (AmWafeeq Savings Account-i accountholders) – 4.75 (AmBank SIGNATURE Priority Banking customers (AmStar Current Account/-i)) |
RM10,000 | – RM1 million (Individual and all AmBank SIGNATURE Priority Banking customers)
– No capping (AmWafeeq Savings Account-i accountholders) |
6 months | 18 July – 5 Nov 2022 |
| Bank Islam (MaxCash and TDT Extra campaign – requires customers to also deposit into Al-Awfar account) |
TDT Extra campaign – 4.00 (6 months) – 4.20 (12 months) – 4.40 (18 months) MaxCash campaign |
TDT Extra campaign – RM10,000 MaxCash campaign |
N/A | TDT Extra campaign – 6 months – 12 months – 18 months MaxCash campaign |
20 Oct – 31 Dec 2022 |
| Bank Muamalat (FTA-i BIG Fleksi Mega Campaign – at branch counters only) |
4.00 | RM5,000 | RM300 million | 3 months | 1 Nov 2022 – 31 Jan 2023 |
| CIMB Bank (CIMB eFixed Return Income Account-i promo) |
– 2.65 (3 months)
– 3.05 (6 months) – 3.30 (12 months) |
RM5,000 | N/A | – 3 months
– 6 months – 12 months |
13 Oct – 3 Nov 2022 |
| CIMB Bank (FRIA-i Bundle CASA-i campaign – requires customers to deposit into current/savings account as well) |
4.08 | RM10,000 | RM1 million | 6 months | 20 Sept – 31 Dec 2022 |
| CIMB Bank (TIA-i campaign) |
– 2.85 (3 months)
– 3.40 (6 months) – 3.70 (12 months) |
RM10,000 | N/A | – 3 months
– 6 months – 12 months |
19 Oct – 8 Nov 2022 |
| Hong Leong Bank (eFixed Deposit/-i promotion) |
– 3.00 (3 months)
– 3.30 (6 months) – 3.50 (12 months) – 3.60 (18 and 24 months) |
RM10,000 | RM200,000 | – 3 months
– 6 months – 12 months – 18 months – 24 months |
29 Oct 2022 – 4 Jan 2023 |
| HSBC Bank (Time Deposit Special Rate – only for new HSBC Premier Everyday Global Account customers) |
– 2.95 (RM200,000)
– 3.00 (RM500,000) – 3.10 (RM1 million) |
– RM200,000
– RM500,000 – RM1 million |
N/A | 6 months | 19 Sept – 11 Nov 2022 |
| Maybank (Fixed Deposit Combo campaign – requires customers to also deposit into current/savings account) |
3.50 | – RM9,000 (Kawanku Savings Account & Golden Savers Savings Account)
– RM49,500 (Maybank2u Premier, Premier 1 Account, and Premier Savings Account) |
N/A | 3 months | 18 Oct – 31 Dec 2022 |
| MBSB Bank (Term Deposit-i Booster campaign – customers can choose to either bundle with current/savings account, or not) |
Bundle with CASA Bundle A (70:30) – 4.83 (6 months) – 5.05 (9 months) – 5.55 (12 months) – 5.69 (15 months) – 5.76 (18 months) Bundle B (65:35) No bundle |
RM5,000 | N/A | – 6 months
– 9 months – 12 months – 15 months – 18 months |
1 Sept – 31 Dec 2022 |
| Public Bank (PB RCB Special FD/TD-i campaign – for Red Carpet Banking customers only) |
RCB Elite – 2.80 (3 months) – 3.10 (6 months) – 3.20 (9 months) – 3.30 (12 months) RCB Gold |
RM10,000 | RM10 million | – 3 months
– 6 months – 9 months – 12 months |
1 Sept – 31 Dec 2022 |
| Public Bank (PB eFD via FPX campaign) |
– 2.75 (3 months)
– 3.05 (6 months) – 3.15 (9 months) – 3.25 (12 months) |
RM5,000 | RM2 million | – 3 months
– 6 months – 9 months – 12 months |
1 Sept – 31 Dec 2022 |
| Public Bank (PB Special Fixed Deposit campaign) |
PB Golden 50 PLUS Fixed Deposit Account – 2.75 (3 months) – 3.05 (6 months) – 3.15 (9 months) – 3.25 (12 months) PLUS Fixed Deposit |
RM5,000 | RM10 million | – 3 months
– 6 months – 9 months – 12 months |
1 Sept – 31 Dec 2022 |
| Public Bank (RCB Birthday Monthly Privileges campaign) |
RCB Gold – 2.80 (3 months) – 3.10 (6 months) – 3.20 (9 months) – 3.30 (12 months) RCB Elite |
– RM50,000 (RCB Gold)
– RM100,000 (RCB Elite) |
– RM300,000 (RCB Gold)
– RM500,000 (RCB Elite) |
– 3 months
– 6 months – 9 months – 12 months |
1 Sept – 31 Dec 2022 |
| RHB Bank (UT/ASNB Term Deposit campaign – requires customers to also invest in selected unit trust funds or ASNB Variable Price) |
Unit trust funds – 14.50 (1 month) – 6.70 (3 months) – 4.50 (6 months) ASNB Variable Price |
Unit trust funds – RM30,000 ASNB Variable Price |
N/A | – 1 month
– 3 months – 6 months |
1 Oct – 31 Dec 2022 |
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