If you’re looking for attractive fixed deposit promotions, several banks in Malaysia are offering competitive rates. Here are the details for Bank Islam, MBSB, and Bank Rakyat’s fixed deposit promotions.
1. Bank Islam Fixed Deposit Promotion
- Promotion Period: June 25, 2024 – December 31, 2024
- Minimum Deposit: RM10,000
- Interest Rates:
- 3 months: 3.75% p.a.
- 6 months: 3.95% p.a.
- 12 months: 4.00% p.a.
- Deposit Method: Must be deposited through the bank counter
2. MBSB Fixed Deposit Promotion
- Promotion Period: September 2, 2024 – December 31, 2024
- Minimum Deposit: RM10,000
- Interest Rates:
- 6 months: 3.70% p.a.
- 12 months: 4.00% p.a.
- Deposit Method: Must be deposited through the MBSB counter. If using Fresh Fund, the minimum deposit is RM10,000. If using existing account funds, an additional RM10,000 must be added.
3. Bank Rakyat Fixed Deposit Promotion
- Promotion Period: June 10, 2024 – September 30, 2024
- Minimum Deposit: RM1,000
- Interest Rates:
- 8 months: 3.70% p.a.
- 12 months: 3.80% p.a.
- Deposit Method: Must be deposited through the bank counter
Benefits of Fixed Deposits in Malaysia
- Encourages Habit of Saving: Fixed deposits help inculcate a disciplined saving habit.
- Safe Option with No Market-Related Risks: Your principal amount is secure, and there are no market fluctuations affecting your returns.
- Interest Payments: You can choose between cumulative and non-cumulative interest payment options.
- Loan Against FD: You can avail loans up to 95% of your deposit amount.
- Guaranteed Returns: Fixed deposits offer assured returns, making them a reliable investment.
- Fixed Interest Rates: The interest rates are fixed, providing stability in returns.
- Deposit Insurance: In Malaysia, deposits are insured by Perbadanan Insurans Deposit Malaysia (PIDM) up to RM250,000 per depositor per bank.
- Higher Interest Rates for Senior Citizens: Some banks offer additional interest rates for senior citizens.
Conclusion
These promotions offer a great opportunity to grow your savings with competitive interest rates. Be sure to visit the respective bank counters to take advantage of these offers before they expire. Happy saving!