Fixed Deposit Calculator
Plan smarter for your future
Enter your deposit, interest rate, and tenure to find out how much you’ll earn from your fixed deposit.
Calculate your guaranteed returns
Rates may change at the time of your lock-in.
RM
%
Total Investment
RM100,000
Interest Rate (p.a.)
3% p.a.
Time Period
0 Years 6 Months
Est. Returns
RM1,479
Total Value
RM101,479
Note: The actual interest earned may be different from the calculated interest due to a variety of factors
Total Investment RM100,000
Est. Returns RM1,479
Total Value
$101K
Disclaimer:
Our Fixed Deposit Calculator helps you visualise how much your savings can grow over a fixed period.
By entering your deposit amount, expected interest rate, and tenure, you can instantly estimate your maturity amount and the total interest earned—helping you make more informed decisions with your money.
Benefits of fixed deposits
Guaranteed returns
Fixed deposits provide a fixed, predictable interest rate not subject to market fluctuations until maturity.
Better interest rates
Fixed deposits generally have better interest rates than a savings account.
PIDM Protection
Fixed deposits are protected by PIDM up to RM250,000.
Various tenure options
Choose terms ranging from a few months to several years, depending on your goals.
Suitable for short- to medium-term goals
FDs work well for planned expenses like travel, school fees, or building an emergency reserve ladder.
Available in multiple currencies
Some banks allow FD placements not just in MYR, but also in USD, EUR, GBP, AUD, and more.
Ideal for conservative savers
Fixed deposits are especially suitable for those who prefer capital protection over higher-risk investments.
Are there any fixed deposit alternatives?
Try StashAway Simple
Your cash after 5 years
Let's compare a fixed deposit at 2.70% p.a. with StashAway's Simple at 3.55% p.a.
After five years, StashAway Simple would generate about RM1,905 in interest, compared to only RM1,424 from a 2.7% fixed deposit—both based on an initial RM10,000 deposit.
That is RM481 more!
Disclaimer
Our Cash Management Solutions
Simple™
Start earning more on your cash
Our new investors enjoy extra 0.15% p.a. boosted returns on the Simple portfolio. Terms and conditions apply.
By creating an account, you agree to the Platform Agreement
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Frequently Asked Questions
What is a fixed deposit?
A Fixed Deposit (FD) is a type of savings product that lets you earn a guaranteed interest rate on a lump sum of money over a fixed period of time.
Offered by banks and financial institutions, it is one of the most straightforward and low-risk ways to grow your savings. FDs are commonly used by individuals looking to preserve capital while earning a predictable return.
You agree to lock in your money for a set period—typically ranging from 1 to 24 months or more—and in return, the bank pays you interest. If you withdraw early, there may be penalties or a reduction in interest earned.
FDs are also insured under Perbadanan Insurans Deposit Malaysia (PIDM) for up to RM250,000 per depositor per bank, adding an extra layer of safety.
Can I withdraw my fixed deposit early?
Yes, but doing so may lead to forfeiture of interest and possible penalties.
What's the difference between simple interest and compound interest?
Simple interest is earned only on your original deposit, while compound interest builds on both your principal and previously earned interest. Over time, compound interest grows your money much faster.
| Feature | Simple Interest | Compound Interest |
|---|---|---|
| What it earns on | Principal only | Principal + accumulated interest |
| Growth speed | Slower, linear | Faster, exponential |
| Common uses | Fixed deposits | StashAway Simple |
How is fixed deposit interest calculated?
Fixed deposit interest is usually calculated using simple interest, meaning you earn interest only on your original deposit. The formula is: Interest = Principal × Rate × Time. Most banks pay FD interest monthly or at maturity, and it doesn’t compound unless specifically stated for multi-year deposits.
In most cases, banks in Malaysia use simple interest for FDs. That means your interest is calculated only on the initial deposit, not on accumulated interest.
Formula:
Interest = Principal x Interest Rate x Time
Here are a few examples to illustrate how interest is earned over different tenures:
| Principal | Interest Rate (p.a.) | Tenure | Interest Earned | Maturity Amount |
|---|---|---|---|---|
| RM10,000 | 3.20% | 3 months | RM80 | RM10,080 |
| RM10,000 | 3.50% | 6 months | RM175 | RM10,175 |
| RM10,000 | 3.80% | 12 months | RM380 | RM10,380 |
The maturity amount you see reflects how much you’ll receive at the end of your selected tenure, assuming you don’t withdraw early. While longer tenures often offer higher interest rates, they also reduce liquidity. Be sure to compare rates across banks before committing—especially during promotional campaigns.
Want to explore your options? Check out the Latest FD Rates in Malaysia updated monthly.
What is the minimum amount to open a fixed deposit in Malaysia?
It depends on the bank and tenor, but it's usually more than RM1,000. Refer to our latest weekly updates on the best Malaysia fixed deposit rates.
Are fixed deposit returns guaranteed?
Yes, interest rates are fixed at the time of deposit and insured up to RM250,000 per bank under PIDM.
How is fixed deposit interest paid?
Fixed deposits typically payout interest at the end of the tenure also known as at maturity. However, some banks may offer monthly, quarterly or semi-annual payout options for longer tenures.
What’s the best tenure for a fixed deposit?
That depends on your financial goals. Shorter tenures offer more flexibility, while longer ones may offer slightly higher returns.
Are fixed deposits better than savings accounts?
It depends on your strategy as fixed deposits and savings accounts differ.
| Feature | Fixed Deposits (FDs) | Savings Accounts |
|---|---|---|
| Interest Rate | Usually higher, fixed for the entire term | Lower, may vary month to month |
| Flexibility | Low — funds locked in for a set period | High — withdraw anytime |
| Early Withdrawal | Penalties or loss of interest | No penalties |
| Risk Level | Very low, guaranteed rate | Very low, but variable rate |
| Ideal For | Medium-term savings you won’t need immediately | Emergency funds or daily money management |
| Minimum Balance | Often required | Usually low or none |
| Interest Type | Generally simple interest | Often compounded monthly |