The following table provides an overview of the fixed deposit rates offered by various banks in Malaysia from July to September 2024. The information includes the minimum deposit amount, interest rates for different tenures, and the conditions for deposit.
| Bank | Date | Minimum Deposit (RM) | Interest Rate (p.a.) | Conditions |
|---|
| Hong Leong Bank | Aug 1 - Sep 7, 2024 | 1,000 | 3 months - 3.45%, 6 months - 3.60%, 10 months - 3.60%, 12 months - 3.65% (Jul 23 - Aug 6), 12 months - 3.60% (Aug 7 - Sep 7) | Must be deposited via HLB Connect Online or HLB Connect APP through FPX from other banks |
| CIMB | Aug 1 - Aug 29, 2024 | 1,000 | 3 months - 3.50%, 6 months - 3.60% | Must be deposited via CIMB Clicks website, must click the link on CIMB Promotions webpage to deposit |
| Public Bank (Conventional Fixed Deposit) | Jul 1 - Sep 30, 2024 | 5,000 | 3 months - 3.45%, 6 months - 3.50%, 9 months - 3.50%, 12 months - 3.55% | Can be deposited via bank counter, or via PBe through FPX from other banks |
| Public Bank (Islamic Term Deposit) | Jul 1 - Sep 30, 2024 | 5,000 | 3 months - 3.45%, 6 months - 3.50%, 7 months - 3.55%, 12 months - 3.65%, 13 months - 3.35%, 15 months - 3.35%, 18 months - 3.25%, 24 months - 3.25% | Can be deposited online or via bank counter. 7 months and 13 months term deposits can only be deposited via bank counter |
| Standard Chartered | Jul 1 - Sep 30, 2024 | 30,000 | 6 months - 4.00% (Wealth Purchase Priority customers), 6 months - 3.90% (Non-Wealth Purchase Priority customers), 6 months - 3.80% (All customers) | Only for Fresh Fund, must be deposited via bank counter |
| Bank Rakyat | Jun 10 - Sep 30, 2024 | 10,000 | 8 months - 3.70%, 12 months - 3.80% | Must be deposited via bank counter |
| Maybank | Jul 1 - Sep 30, 2024 | 10,000 | 3 months - 4.68% (Effective rate 3.41%), 6 months - 4.88% (Effective rate 3.55%) | Must split the funds into 70% for fixed deposit and 30% for savings/current account. Must be deposited via bank counter |
| AmBank | Aug 1 - Aug 31, 2024 | 10,000 | 6 months - 7.15% (Final effective rate: 3.70%) | Money needs to be split into two parts, i.e., 50% into fixed deposit, 50% into savings account, the final effective rate is 3.70%. Must be deposited via AmOnline |
| Bank Islam (Term Deposits) | Jun 25 - Dec 31, 2024 | 10,000 | 6 months - 3.75%, 9 months - 3.95%, 12 months - 4.00% | Must be deposited via bank |
| Bank Islam (MaxCash) | Jun 25 - Dec 31, 2024 | 10,000 | 9 months - 3.96% (Effective rate), 12 months - 4.00% (Effective rate) | Funds need to be split into two parts, 70% into term deposit account, 30% into savings account |
| BSN | Jul 1 - Sep 30, 2024 | 5,000 | 6 months - 3.85% (Effective rate) | Funds need to be split into two parts. 70% of the funds into fixed deposit, 30% into BSN SSP Platinum. Fixed deposit can enjoy 5.50% p.a., but after deducting 30% BSN SSP Platinum funds, the effective rate is only 3.85%. Must be deposited via bank counter |
| ICBC Malaysia | Jul 26 - Aug 31, 2024 | 10,000 | 3 months - 3.55%, 3 months - 3.65%, 6 months - 3.70%, 6 months - 3.80% | *Must be deposited via bank counter. Others can be deposited online |
This table provides a comprehensive comparison of the fixed deposit rates offered by various banks in Malaysia. It is important to consider the interest rates, minimum deposit amount, and the conditions for deposit when choosing a bank for fixed deposit.
Please note that the information provided is based on the rates available from July to September 2024 and may vary. Always check with the respective banks for the most accurate and up-to-date information.
