Latest and The Best Fixed Deposit / Time Deposit Interest Rates Promotion Offered by Malaysia Major Commercial and Foreign Banks – in February and March 2017.
Last Update: 8 February 2017
Malaysia Major Commercial Banks and Foreign Banks Fixed Deposit / Time Deposit Rates as of July 2016.
Bank – FD rates for 1 month, 3 months, 6 months and 12 months.
Affin Bank – 3.0%, 3.05%, 3.15% and 3.45% (Updated – Revised down 19/7/16)
Alliance Bank – 3.05%, 3.05%, 3.1% and 3.15% (Updated – Revised Down 20/7/16). FD Gold 12 months 3.25% (Interest paid monthly).
AmBank – 2.95%, 3.0%, 3.05% and 3.15% (Updated -Revised down 19/7/16). For Online Rates, they are higher.
Citibank – 2.70%, 2.75%, 2.75% and 2.85% (Updated – Revised down 25/7/16)
CIMB Bank – 2.95%, 3.0%, 3.05% and 3.10% (Updated – Revised down July 16)
Hong Leong Bank – 2.95%, 3.0%, 2.90% and 2.90% (Updated – Revised down 29/7/16)
Maybank – 2.95%, 3.00%, 3.05% and 3.10% (Updated – Revised down 15/7/16)
OCBC Bank – 2.90%, 3.00%, 3.05% and 3.25% (Revised July 14)
RHB Bank – 3.0%, 3.05%, 3.2% and 3.15% (Updated – Revised down 26/7/16)
Public Bank – 3.0%, 3.05%, 3.10% and 3.15%. PB Golden 50 Plus 12 months 3.25% (Updated – Revised down 14/7/16)agaim
UOB Bank – 2.70%, 2.80%, 2.90 % and 3.0% (Updated – Revised down AGAIN 5/8/16)
The highest over the counter FD rate for 12 months is by Affin Bank at 3.45%.
The Best Fixed / Time Deposit Promotions 2017
Please CALL THE NEAREST BANK BRANCH to reconfirm the rates (go to the bank website to get the contact number of the branch nearest to you) before going to the bank to check if promotions are still valid.
AmBank 9 Months FD Promo valid until end February 2017. Posted by ESB at GenXGenYGenZ Facebook on 12 Jan 2017.
“Ambank FD 9 months 4% p.a. , fresh fund, ends 28/2/2017 or when fund size is filled. by ESB”
Update 8 Feb 2017:
ESB informed that AmSignature customers earn extra 0.05%, i.e. 4.05% for above promo.
Another follower, Hui Wan, reported she was told that Am Signature offering 4.08% for 8 months FD Promo.
ALLIANCE BANK 12 Months FD Promo January, February and March 2017!!!
Update 8 Feb 2017: Winney Lim commented at GenX GenY GenZ Facebook Post that Alliance 4.05% for deposit less than RM500K closed. I.e. for deposit RM500K and above promo still valid.
Alliance Bank is offering 4.05% for 12 Months FD Gold with minimum deposit of RM50K fresh fund. In order to be qualified for FD Gold, the first name of the joint FD has to be age 40 and above. If none of the FD holders are 40 years old and above, you will still get 4% interest for 12 months FD which is pretty good based on current market.
AFFIN BANK –
CIMB Preferred Banking – courtesy of one of the Selfless Editors at GenX GenY GenZ Facebook – posted on 11 January 2017 :
“Conventional/Islamic FD Promo at branch, 3 months @ 4.00%, fresh fund.”
Update 8 Feb 2017, CIMB Preferred Banking Customer, please check with your RM for latest promos. Alicia Kok Yu Ming posted below CIMB Promo at GenX GenY GenZ Facebook:
Cimb 3.8% 3 months min 10k
Hong Leong Bank 3.8% for Walk In 12 Fixed Deposit Promo, valid until end January 2017.
If you visit Hong Leong Bank branch, they are offering 3.8% for 12 months Fixed Deposits, Minimum fresh fund RM10K.
Hong Leong Bank Online Banking Fixed Deposit Promo via FPX Only – Guaranteed 4% for 8 Months FD Promo with potential additional 0.18%. Promo until 28 February 2017.
Maybank 3.91% 10 Months Fixed Deposit Promo – courtesy of Alicia Kok Yu Ming & ESB at GenX GenY GenZ Facebook – posted on 7 February 2017 :
“Maybank FD 10 months 3.91% per annum, min 10k”
Additional Note: For Maybank Islamic Bank Step Up FD Product. please read the terms and conditions of the product as it may be subjected to OPR change.
Maybank GIA 6 and 12 Months Promo, valid till 15 February 2017 (yes until Feb 2017, this is not an error). Minimum RM10K for Individual and RM25K for Company.
As with all Fixed Deposit and Term Deposit Promo, you are to read the Terms and Conditions. Please note that the above so called Effective “Interest” Rate is not guaranteed but subjected to OPR changes. However, to be fair to Maybank, they are not calling the above Fixed Deposit but GIA-i campaign.
OCBC 4% for 12 Months Fixed Deposit Promo. Valid until 31 January 2017. Minimum deposit RM10K.
PUBLIC BANK Step Up Promos.
Go read the Terms & Conditions and understand them. If you too lazy, just go with OCBC or UOB.
UOB CNY Bank Straight Forward Fixed Deposit Promos. Valid until 28 February 2017. Minimum Fresh Fund RM10K.
4 Months – 3.68%
8 Months – 3.8%
12 Months – 3.95%
UOB FD Promos rates are not competitive for January 2017 versus OCBC including local banks such as AmBank, Maybank, CIMB and Alliance Bank where they are offering 4% interest rate for FD Promos (various tenures) for walk in customers. Therefore, don’t be surprise that UOB revise their FD promo interest rate for 12 months to 4% between mid January to end February 2017.
NON COMMERCIAL BANKS “SIMILAR TO FD” ACCOUNTS
For comparison, Bank Rakyat Deposit Promo:
However, for those of you who are not into Fixed Deposit Promotions and or don’t have the time keeping track of what is out there, check out Bank Rakyat’s Deposit Account i “interest rates” which are very good and most time better than FD Promos!!! However, it has been reported that Bank Rakyat’s dividend rate can be lower or higher than that stated in their website. So call their nearest branch to you for their latest dividend rate. And please note that your deposits with Bank Raykat are not eligible for PIDM.
To note, Bank Rakyat’s website states that for deposits more than RM5K, you may be entitled to monthly dividend, so check with them on this. Also please note, many members at LYN reported that the monthly dividend was not be credited into their accounts automatically; but they had to call Bank Rakyat staff and remind them to credit the “profit” every month!!!
MBSB PROMO – Syazni Nadzirin commented at GenX GenY GenZ Facebook 6 February 2017:
4.00% 9 months & 4.05% 12 months. Minimum 50k
MAYBANK Q-CASH FUND
For those of you who wants really short term deposit, i.e. less than 1 month. Go check out Maybank Q-Cash Money Market (similar to REPO).
Fund Minimum deposit RM50K
The Fund is suitable for Qualified Investors:
who have low risk tolerance;
who seek a regular income stream from their investments;
who wish to obtain a yield exceeding the Maybank Overnight Deposit Rate; and/or
who have very high liquidity requirement.
You can set the number of days you want your money in the Money Market Fund or just let it sit there until you want to withdraw. However, the cut off time for redemption request shall be at 10.30 a.m. on a Business Day.
Click here to read my article Burning Away Fixed Deposits and Earning FREE Gold Bars with Credit Cards – a soon to be best seller fiction novel. This article was written to benefit Fixed Deposit Fans and Credit Cards Users.
Click here to read my article The Secret To Eternal Happiness where I will tell you the pros and cons of Certificate Type FD (e.g. HLB and MBB) versus Statement Based FD (e.g. OCBC and UOB). And after reading this article, you may only want to go with Certificate Type FD and not Statement Based FD or vice-versa. Also, I will tell you why you need FD, actually lots of it, instead of having many properties which are not liquid in order to prolong your life. What you can do to get funds to pay your mountain high hospital bills that prolong the life of your liveless boy that lays in the Intensive Care Unit. And because I highlighted the cons of Statement Based FD, I may have unintentionally taught an evil child how to con his parent(s) hard earned money!
The above article covers many subjects:
2. INVESTING IN APARTMENTS IN MELBOURNE CBD.
3. DE FACTO FACTOR – Take note of this if you own property in Australia.
4. APARTMENT VERSUS BUNGALOW.
5. MAKING OTHER PEOPLE RICHER.
6. PROS AND CONS OF STATEMENT BASED VERSUS CERTIFICATE FIXED DEPOSITS.
7. ARE YOU RANKED IN THE TOP 1% OR 10% OR 50% RICHEST PERSON ON EARTH?
8. I AM STILL BLESSED BY MY GODS.
9. I THOUGHT I HAD A STROKE.
10. SPENDING MY CHILDREN’S FUTURE INHERITANCE ONCE AGAIN.
11. LIFE IS SHORT AND IT ENDS WHEN WE CAN NO LONGER EAT, SHIT AND SLEEP.
12. and THE SECRET TO ETERNAL HAPPINESS.
THE BEST “SAVINGS ACCOUNT” IN MALAYSIA AS GOOD AS FIXED DEPOSIT PROMO!!!
Want to earn more pocket money, click here and read my article on Maybank Mudarabah GIA-i Account which can be treated like a Savings Account where you can place and withdraw your money anytime; and best of all, you can earn 3.55% p.a. (valid 16 November 2016 until 15 December 2016) returns even if you just park your money in the GIA-i account for a single night.
An article by GenX