Best Fixed Deposit (FD) Interest Rates In Malaysia - Nov 2022

CompareHero.my Team

CompareHero.my Team

Last updated 09 November, 2021

 

*Updated on 4 November 2022

If you are looking for a safe investment with relatively high returns, a fixed deposit might be just the thing for you. Fixed Deposits are a form of investment that is very similar to a savings account, with some slight differences. If you agree to a fixed deposit, you are not allowed to take out your money until the term of the deposit is over. Because the investment term and the interest rate are fixed, you can very easily calculate the returns you will receive on your deposit. Fixed deposits are very popular in Malaysia and there is fierce competition among banks to sell you their fixed deposit offerings.

Check out the Best Fixed Deposit in Malaysia for November 2022. 

 

Bank

Product

Interest Rate

(% p.a.)

Tenure

Promotion Period

Affin Bank

Banca Deposit

Required to purchase Bancasurrance Premium or BancaTakaful products.

9.88 or 19.88%

 5.88 or 11.88%

1 month

3 months

7 Sept – 31 Dec 2022

Alliance Bank

Investment & FD Bundle Campaign

Required to invest in selected Conventional Unit Trust products.

7%

3 months  1 Oct 2022 – 31 Mar 2023

Alliance Bank

Bancassurance & FD Bundle Campaign

Required to purchase selected bancassurance products)

8%

(products with minimum annualized premium of RM50,000) 

6%

(products with minimum annualized premium of RM10,000)

6 months  1 Oct 2022 – 31 Mar 2023

Alliance Bank

New Investor Campaign

For new investment customers on selected Conventional Unit Trust Products.

9% 

3 months  1 Oct 2022 – 31 Mar 2023

Alliance Bank 

Cooler Cashback e-FD

Required to set up mobile banking. 

3.40% 

12 months  1 Oct – 30 Nov 2022
AmBank

FD/CASA Bundle Promo

Combine Fixed Deposit/Term Deposit-i (FD/TD-i) with Current or Savings Account/Current or Savings Account-i (CASA/CASA-i).

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)

6 months  18 July – 5 Nov 2022
Bank Islam

 

TDT Extra campaign

Must also deposit into Al-Awfar account.

 

4 %

4.20%

4.40%

6 months 

12 months 

18 months 

20 Oct – 31 Dec 2022
Bank Islam 

MaxCash Campaign

Must also deposit into Al-Awfar account.

4.35%

5.7%

3 months 

6 months 

20 Oct – 31 Dec 2022
Bank Muamalat

FTA-i (FD-i) Fleksi Mega Campaign

Required to deposit RM5,000 only.

4% 3 months  1 Nov 2022 – 31 Jan 2023
CIMB Bank 

CIMB FRIA-i Bundle CASA-i

Bundle your Fixed Return Income Account-i (FRIA-i) with your new or existing Current/Savings Account-i (CASA-i) savings.

4.08% 6 months  20 Sept – 31 Dec 2022
CIMB Bank  Islamic Term Investment Account -i  2.85%

3.40%

3.70%

3 months 

6 months 

12 months 

19 Oct – 8 Nov 2022
Hong Leong Bank

eFixed Deposit/-i Promotion

Must deposit via HLB Connect. 

3.00%

3.30%

3.50% 

3.60% 

3 months 

6 months 

12 months 

18 or 24 months 

29 Oct 2022 – 4 Jan 2023
HSBC Bank

Time Deposit Special Rates 

Exclusive for New HSBC Premier Everyday Global Account customers.

2.95%

(deposit (RM200,000)

3.00%

(deposit RM500,000)

3.10%

(deposit RM1 million)

6 months  19 Sept – 11 Nov 2022
MBSB Bank

MBSB Term Deposit-i Booster Campaign

Choose to bundle with current/savings account, or not. 

Bundle A 

4.83% (6 months)
5.05% (9 months)
5.55% (12 months)
5.69% (15 months)
5.76% (18 months)

 

Bundle B 

5.20% (6 months)

5.43% (9 months)

5.90% (12 months)

 

No Bundle 

3.30% (6 months)
3.40% (9 months)
3.65% (12 months)
3.67% (15 months)
3.70% (18 months)

6 months 

9 months 

12 months 

15 months 

18 months 

1 Sept – 31 Dec 2022
Public Bank

 

PB RCB Special FD/TD-i Campaign

 

RCB Elite
2.80% (3 months)
3.10% (6 months)
3.20% (9 months)
3.30% (12 months)

RCB Gold
2.75% (3 months)
3.05% (6 months)
3.15% (9 months)
3.25% (12 months)

3 months 

6 months 

9 months 

12 months 

1 Sept – 31 Dec 2022
Public Bank  PB eFD via FPX Campaign 2.75%

3.05% 

3.15% 

3.25% 

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

2.70% (3 months)
3.00% (6 months)
3.10% (9 months)
3.20% (12 months)

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
2.85% (3 months)
3.15% (6 months)
3.25% (9 months)
3.35% (12 months)

3 months 

6 months 

9 months 

12 months 

1 Sept – 31 Dec 2022
RHB Bank

Fixed Deposit/Commodity Murabahah Deposit-i

Must 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

8.70% (1 month)
4.80% (3 months)
3.70% (6 months)

1 month

3 months 

6 months

1 Oct – 31 Dec 2022

 

Things to consider when using a fixed deposit

tips-fixed-deposit

  1. Do not tie up money that you need to survive.

If you use a fixed deposit, you will not be able to touch the investment amount for a while, so make sure you can survive without it. Make sure you have a steady stream of income and an emergency fund that is available at any time before taking a fixed deposit.

  1. Make sure the interest rate is worth it.

The interest rate on fixed deposits is generally a little higher than the interest rate on savings account. However, if you are planning to use your savings to get a fixed deposit at another bank, you might spend the additional benefit on transaction fees! Before deciding on your course of action, make sure that the returns you realize are enough to cover the cost.

Are fixed deposits a good investment?

A fixed deposit can be a good investment if you are looking for safety and security with decent returns. For example, if you have some money left over but you don’t want to take any risk, you can choose to take a fixed deposit, assuming you won’t need the money for a while.

However, if you want to realize returns that are a little higher, you could consider investing in the stock market, or joining a p2p-lending network. You can even invest in your own business, if you are really adventurous!

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