With a plethora of fixed deposit options available today, you may be confused as to which one to choose from.
Some of the important things to keep in mind while considering a suitable fixed deposit for yourself are as
follows:
Some of the important things to keep in mind while considering a suitable fixed deposit for yourself are as
follows:
1. Fixed Deposits are safe forms of investments as they are protected by PIDM for up to RM250,000.
2. Longer fixed deposit tenures tend to fetch you higher rates of interest.
3. You can stand to lose out on your interest if you withdraw your fixed deposit before the maturity date.
4. There are mainly two types of terms for fixed deposit accounts - short-term and long-term.
Short-term deposits usually are for less than a year, and can start from as short as thirty days.
Generally, depositors with quick savings goal would prefer short-term deposits. Anything above a year or
two are normally considered to be long-term deposits.
5. Fixed deposits can provide you with the potential for regular earnings.Short-term deposits usually are for less than a year, and can start from as short as thirty days.
Generally, depositors with quick savings goal would prefer short-term deposits. Anything above a year or
two are normally considered to be long-term deposits.
In Malaysia, investing in fixed deposits is very common and many banks offer them. Here is a list of some of the
fixed deposits that are offered by banks:
CIMB Unfixed Deposit: This fixed deposit gives you the flexibility to withdraw your funds partially while
your balance enjoys competitive rates. You need to maintain a minimum of RM1,000 in this account.
The interest rate usually varies from 2.95% p.a. to 3.40% p.a. for 1 month to 60 months.
your balance enjoys competitive rates. You need to maintain a minimum of RM1,000 in this account.
The interest rate usually varies from 2.95% p.a. to 3.40% p.a. for 1 month to 60 months.
Affin Bank Fixed Deposit: With Affin Bank’s fixed deposit, you get to choose from a flexible range of
tenures besides enjoying competitive rates. The interest rate varies from 3.00% p.a. to 4.00% p.a. for
1 month -60months.
tenures besides enjoying competitive rates. The interest rate varies from 3.00% p.a. to 4.00% p.a. for
1 month -60months.
MBSB Fixed Deposit: This fixed deposit given by MBSB has low risk and gives high returns. The interest
is paid in three ways – upon maturity, monthly, or quarterly. The initial placement is RM1,000.
There is also a senior citizen fixed deposit called 49'NERS, which is aimed for individuals who have
attained 49 years of age and above.
is paid in three ways – upon maturity, monthly, or quarterly. The initial placement is RM1,000.
There is also a senior citizen fixed deposit called 49'NERS, which is aimed for individuals who have
attained 49 years of age and above.
Mach Fixed Deposit: This is a fixed deposit offered by Hong Leong Bank at a competitive interest rate of
3.30% p.a. This is an online fixed deposit account that allows you to partially withdraw your deposits for
placement amounts of RM10,000 or more for a period of six months and above.
Alliance Bank FD Gold: This fixed deposit comes with benefits that include competitive rates and the 3.30% p.a. This is an online fixed deposit account that allows you to partially withdraw your deposits for
placement amounts of RM10,000 or more for a period of six months and above.
facility to make partial withdrawals in multiples of RM1,000 among others.
*Note: Currency (Deposit Amount) is mentioned in Malaysia Ringgit
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