Fixed Deposit Malaysia 2019

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.

Fixed deposit malaysia 2019. Longer tenures of up to 60 months offer interest rates of up to 4 15. Top 1 month fd rates in. 13 july to 31 december 2020. The affin bank fixed deposit plan allows you to grow your savings with just rm500.

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 the member bank failure. One of the banks with the lowest point of entry for an fd account. Effective 7 december 2019 maybank will no longer be issuing certificates for new conventional fixed deposit placements made over the counter otc by retail individual customers. However an acknowledgement slip will be provided to depositors as evidence of the placement made.

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. And continuously roll overs at maturity for one year. Since fixed deposit accounts are popular choices banks in malaysia offer competitive advantages and rates for their who are willing to sign up for fixed deposit accounts with them. The minimum deposit term that you can have with a bank for a fixed deposit account is for one month and the longest that you can have is up to 5 years.

The tables below will be updated every month. Fd rates are affected by bnm base rate which is different depending on the bank. 2nd september 2020 the best fixed time deposit promotions please call the nearest bank branch to reconfirm the rates go to the bank website to get the contact number. Say he decides to deposit rm5 000 into a fixed deposit account for 1 month at a rate of 3 interest p a.

Fixed deposits fd rates in malaysia are around 2 3 affected by fd promotions and determined by the individual bank. In malaysia all deposits made at a member bank are automatically protected by perbadanan insurans deposit malaysia pidm. Here are the highest interest fixed deposit accounts in malaysia arranged by duration. Ocbc premier banking promo.

5 august to 30 september 2020 2. Fixed deposit i premier deal effective rate. 3 months offer period. It also offers an attractive 3 90 interest rate per annum for a tenure of 12 months.

Up to 2 90 p a. He will potentially earn rm150 in interest and also the flexibility of withdrawing his cash at the end of each month. Term deposit offer via over the counter e term deposit offer via fpx effective rate.