Latest and The Best Fixed Deposit / Time Deposit Interest Rates Promotion Offered by Malaysia Major Commercial and Foreign Banks – in April May and June 2017.
Last Update: 22 April 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 FD Promo.
There is a 4.35% 5 Years Senior Fixed Deposit Promo by AmBank valid until end April 2017. However 5 Years is a very long time and the interest rate offered is only slightly higher than other FD Promo for 12 months.
Since March 2017, more and more bank are offering above 4% for 12 months and above, example CIMB up to 4.2% for their Preferred Banking Customers. Therefore, the 4.35% offered by AmBank for 60 Months tenure is not really “good”.
CIMB Fixed Deposit Promo – valid until 30 April 2017. Thanks to 吕景幸 for his comment on the promo on 3rd April and EweSB post on 4th April 2017 at GenX GenY GenZ Facebook:
Many people have reported that CIMB do offer promo interest rates for their Preferred Banking customers. Below are comments posted at GenX GenY GenZ Facebook in March 2017:
EweSB posted on 23 March – “CIMB : min 10 K , 3 months 3.8% p.a. , 6 months 3.85% p.a. , 1 year 4.1% p.a.”
Lee Hooi Cheng commented on 24 March – “Cimb preferred may get the relationship manager help to request for higher rates. 4.15% for Islamic and 4.20% for conventional fd for 1 year.”
If you are a CIMB Preferred Banking Customer, check with your Relationship Manager if you are eligible for better interest rates.
CIMB Preferred Banking Unfixed FD Promo April 2017 – thanks to Jon Jin who commented at GenX GenY GenZ Facebook on 4th April 2017.
4.2% for 12 Months FD BUT please note you need to have a CIMB Preferred Banking Current Account to be eligible for this promo.
Hong Leong Bank Fixed Deposit Promo for April 2017.
HLB has revised their FD Promo rates upwards for April 2017.
For deposit minimum deposit of RM10K and up to RM149,999 fresh fund you are entitled to 4% interest rate for both 6 and 12 months tenure.
For deposit deposit above RM150K fresh fund you are entitled to 4.05% interest rate for both 6 and 12 months tenure.
Hong Leong Islamic Bank Fixed Deposit Promo 4.05% for 12 months. Promo valid until end April 2017 posted by EweSB at GenX GenY GenZ Facebook on 22 March 2017
HONG LEONG BANK ONLINE BANKING FD PROMO evert TUESDAY only and via ONLINE BANKING.
If you are into Online Banking and only need FD placement(s) up to RM30K and you only need it on Tuesday, then check out HLB 4.15% FD/i via FPX.
If you would like to learn more about FPX deposit via online, click here to my Quickies/News Page where I have a short article on it.
Maybank average 3.93% 9 Months GIA-i Promo – April, May and June 2017. Posted by ESB at GenX GenY GenZ Facebook on 21 April 2017.
The above Maybank 9 Months GIA-i effective interest rate works out to be 3.93%
The plus of Maybank FD and GIA Promos is that they are opened to SME companies.
As with all Maybank Fixed Deposit, Term Deposit and GIA Promos, 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.
OCBC 4% for 12 Months Fixed Deposit Promo. Valid until 30 April 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.
RHB Bank Fixed Deposit Promo March 2017 – 4.05% for 12 Months.
Below posted by an Editor at GenX GenY GenZ Facebook on 2nd March 2017:
“RHB Premier customers – Conventional/Islamic FD Promo at branch, 12 months @ 4.05%, min. RM 50K, no need fresh fund”.
However, someone else reported for non Premier Banking customers, need to have certain sum maintained in CASA to be eligible for the promo.
UOB Straight Forward Fixed Deposit Promos. Valid until end April 2017. Minimum Fresh Fund RM10K.
4 Months – 3.68%
8 Months – 3.8%
12 Months – 4%
Please note that banks like HLB and CIMB are offering interest rates above 4% in late March 2017 and into April 2017. Therefore, you can expect UOB to revise their FD Promo rates in order to be competitive. Check with your Relationship Manager for latest rates.
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!!!
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