Introduction
Choosing the right savings or fixed deposit account can significantly impact your financial growth. To help you make an informed decision, here is a comparison of the current promotions offered by five banks in Malaysia. Each bank provides unique benefits, interest rates, and terms, so you can select the one that best suits your financial needs.
| Bank | Interest Rate (p.a.) | Promotion Details | Minimum Deposit | Maximum Deposit | PIDM Protection |
|---|
| Boost Bank | 5.00% | Deposit into the Boost Birthday Jar to enjoy 5.00% p.a. interest rate throughout October. Interest is credited daily. | None | RM25,000 | Yes |
| Bank Islam | 4.00% | Be U APP offers a 12-month fixed deposit with a 4.00% p.a. interest rate. Promotion valid until December 31, 2024. | RM500 | None | Yes |
| MBSB | 4.00% | 12-month fixed deposit promotion with a 4.00% p.a. interest rate. Promotion valid until December 31, 2024. | RM10,000 | None | Yes |
| KDI Save | 4.00% | Savings account with a 4.00% p.a. interest rate, limited to the first RM50,000. Interest is credited daily. Assets are managed by Pacific Trustees Bhd, licensed by the Securities Commission Malaysia (SC). | None | RM50,000 | Yes |
| Bank Muamalat | 3.90% | 9-month fixed deposit with a 3.90% p.a. interest rate. Minimum deposit of RM30,000. | RM30,000 | None | Yes |
Conclusion
Selecting the best savings or fixed deposit account depends on your financial goals and the terms that suit you best. Whether you prefer higher interest rates with specific deposit limits or flexible terms with daily interest crediting, these promotions offer a variety of options to help you grow your savings securely. Always consider the minimum and maximum deposit requirements and ensure your deposits are protected by PIDM for added security.
