Malaysia Best Fixed Deposit Rates [June 2025]

With Malaysia’s Overnight Policy Rate (OPR) holding firm at 3.00% as of 2025, fixed deposits (FDs) continue to stand out as one of the safest and most rewarding ways to grow your savings—especially for those who prefer low risk over market volatility.

While conventional savings accounts barely keep up with inflation, many local banks now offer FD interest rates (promotional) of up to 4.10% p.a., making them a practical choice for both short-term savers and long-term planners.

Whether you're parking your bonus or planning your financial buffer, FDs guarantee returns, protect your capital, and reward you more the longer you stay committed—as long as you don’t break it early.

Best Malaysia Fixed Deposit Promotions June 2025

Kicking off our guide, we spotlight the standout fixed deposit promotions of the season that you won't want to miss. These special offers not only provide rates that soar above the average but typically require a higher minimum deposit. 

Best Malaysia Fixed Deposit June 2025

Let's look into the most popular fixed deposit tenures and the attractive rates offered by various banks in Malaysia.

These fixed deposits are favored for their safety and predictable returns, providing savers with options ranging from as short as 1 month to as long as 12 months. 

Best 1-month Fixed Deposit Rates in Malaysia

Best 3-month Fixed Deposit Rates in Malaysia

Best 6-month Fixed Deposit Rates in Malaysia

Best 9-month Fixed Deposit Rates in Malaysia

Best 12-month Fixed Deposit Rates in Malaysia

Overview of Banks in Malaysia and Their Fixed Deposit Offerings

Malaysia’s banking sector includes a wide mix of local, foreign, and Islamic banks, each offering unique strengths. From major players like Maybank, CIMB, and Public Bank with wide networks and digital platforms, to specialised banks such as MBSB, Agrobank, and Al Rajhi Bank Malaysia, each institution brings distinct propositions to the market.

Many banks operate both conventional and Islamic banking arms, giving Malaysians the option to choose Shariah-compliant products. Whether you value government backing, digital convenience, or a focused community approach, knowing a bank’s background helps you better assess its fixed deposit offerings.

Affin Bank

Affin Bank Berhad is a Malaysian commercial banking group established in 1975. Part of the Affin Group (linked historically to the Armed Forces Fund Board), it provides a range of retail and corporate banking services with a network of over 100 branches nationwide. 

Affin Bank offers conventional banking and also operates Affin Islamic Bank as its Islamic banking arm, catering to customers seeking Shariah-compliant products. As a mid-sized bank, Affin is known for focusing on community and enterprise banking, aiming to grow its presence among consumers and small businesses.

AFFIN Fixed Deposit (FD):

Affin Bank TIA-i Campaign (until 15 Jun 2025):

Agrobank

Agrobank (Bank Pertanian Malaysia Berhad) is a government-owned developmental bank founded in 1969 to support Malaysia’s agricultural sector. It operates under the Ministry of Finance and was originally a development finance institution specialising in loans for farmers and agribusinesses. 

In July 2015, Agrobank transitioned into a full-fledged Islamic bank, ensuring that all its financing and deposit products comply with Shariah principles. With an extensive branch network across rural and urban areas, Agrobank balances its policy role in agricultural development with commercial banking services, promoting financial inclusion in the farming community.

Agrobank Fixed Return Investment Account-i:

Al Rajhi Bank Malaysia

Al Rajhi Bank Malaysia is the local subsidiary of Al Rajhi Bank from Saudi Arabia, one of the world’s largest Islamic banking groups. Incorporated in 2006 and launched in Malaysia in 2007, it was the first Arab bank to establish operations in Southeast Asia. 

Al Rajhi Bank Malaysia offers Shariah-compliant banking services for retail, corporate, and investment customers, mirroring the Islamic products of its parent bank. With a growing network of branches, the bank is known for bridging Middle Eastern and Malaysian financial markets and delivering modern Islamic financial solutions backed by Middle Eastern expertise.

Al Rajhi Term Deposit-i:

Alliance Bank

Alliance Bank Malaysia Berhad is a mid-sized Malaysian bank that provides a broad suite of consumer and business banking services. It is part of the Alliance Financial Group, an integrated financial services conglomerate. The bank has its roots in mergers of several local financial institutions and has been publicly listed since the early 2000s. 

Alliance Bank focuses on retail banking, SMEs, and wealth management, and it operates nationwide via a network of branches and digital banking platforms. Notably, its subsidiary Alliance Islamic Bank offers Shariah-compliant products, complementing the bank’s conventional banking services. 

Alliance Bank Fixed Deposit:

Alliance Personal Welcome Offer (until 30 Sep 2025):

AmBank

AmBank (Arab-Malaysian Bank) is one of Malaysia’s prominent banking groups, operating under AMMB Holdings Berhad. Founded in 1975, the AmBank Group’s core businesses span retail banking, commercial (wholesale) banking, and Islamic banking. The AmBank brand primarily covers conventional personal and business banking and is supported by a nationwide network of roughly 175 branches and hundreds of ATMs. 

AmBank is known for offering diverse financial products such as deposits, loans, credit cards, and insurance (through its subsidiaries). It also runs AmBank Islamic for Shariah-compliant services. As a mid-to-large size local bank, AmBank has a solid reputation in consumer banking and has been involved in various partnerships and initiatives to expand its digital banking and customer reach in Malaysia.

Ambank Conventional Fixed Deposit:

Ambank eFD/eTD-i Campaign (FPX) (until 14 Jun 2025):

Ambank eFD/eTD-i Campaign (CASA) (until 14 Jun 2025):

Bank Muamalat Malaysia

Bank Muamalat Malaysia Berhad is a full-fledged Islamic bank, notable for being the second such bank established in the country (after Bank Islam). It commenced operations in October 1999, formed from the Islamic banking divisions spun off by several conventional banks during a sector restructuring. Bank Muamalat provides a spectrum of Shariah-compliant products, from retail banking services like savings, current accounts and personal financing, to business banking and trade finance, all in adherence to Islamic principles. 

The bank is jointly owned by DRB-HICOM (a Malaysian conglomerate) and Khazanah Nasional (the government’s investment arm), reflecting strong backing from both private and public sectors. With its focus on ethical banking and inclusive service to all Malaysians regardless of race or religion, Bank Muamalat has built a reputation as a stable and community-oriented Islamic bank.

Bank Muamalat Fixed Term Account-i:

Bank Rakyat

Bank Rakyat (Bank Kerjasama Rakyat Malaysia Berhad) is Malaysia’s largest Islamic cooperative bank, established in 1954 under the cooperative movement laws. Initially a conventional cooperative bank, it converted fully into an Islamic banking system in 2003 to better serve members and customers with Shariah-compliant products. As a cooperative, Bank Rakyat is owned by its members (largely Malaysian cooperatives and individuals) and falls under the purview of the Ministry of Entrepreneur Development and Cooperatives. 

It is well known for consumer financing, particularly personal loans (popular among public sector employees) and savings deposit accounts. With over 100 branches and outreach via cooperative networks, Bank Rakyat plays a key role in financial inclusion. The bank’s strong asset base (over RM117 billion in assets as of end 2023) underscores its position as a financially robust and trusted institution in Malaysia’s banking sector.

Bank Rakyat Term Deposit Account-i:

Bank Simpanan Nasional (BSN)

Bank Simpanan Nasional (BSN) is a government-owned savings bank founded in 1974 with a mandate to encourage savings and financial inclusion among Malaysians. It was created by an Act of Parliament, taking over the functions of the former Post Office Savings Bank. BSN’s focus is on retail banking for the masses: it offers savings accounts, fixed deposits, microloans, and government-introduced savings schemes. 

With a wide network of branches and banking agents (including post offices and appointed retail outlets) across urban and rural areas, BSN ensures banking access even in remote communities. The bank is often seen as the “people’s bank,” promoting the virtue of thrift and serving as a vehicle for various government-backed savings initiatives. Its fully-owned status by the Ministry of Finance means deposits with BSN carry an implicit government guarantee, bolstering its reputation as a safe haven for small savers.

BSN Term Deposit

Term Deposit-i with BSN SSP bundle campaign (until 30 Jun 2025)

*70% TD-i and 30% SSP ratio to be eligible for 5.50% p.a.

Bank of China (Malaysia)

Bank of China (Malaysia) Berhad is the Malaysian subsidiary of Bank of China, one of the world’s largest state-owned banks from China. Bank of China first established a presence in Malaya in 1939, operating several branches before exiting in 1959 due to regulatory changes. The bank re-entered the Malaysian market in 2001, marking the end of a decades-long hiatus and the start of its modern operations as a locally incorporated entity. 

In Malaysia, Bank of China focuses on facilitating trade finance, corporate banking, and services for the Chinese business diaspora, while also offering retail banking products such as deposits, remittance services, and foreign currency accounts. It is a relatively smaller player in consumer banking compared to local Malaysian banks, but it leverages its global network and expertise in RMB (Chinese yuan) transactions. Bank of China Malaysia is regarded as a bridge for economic ties between Malaysia and China, providing banking support for cross-border investments and enterprises.

Bank of China Fixed Deposit Account:

CIMB Bank

CIMB (an acronym for Commerce International Merchant Bankers) has evolved into a universal bank offering consumer, commercial, investment, and Islamic banking services. Headquartered in Kuala Lumpur, CIMB Group is among the top banking groups in Southeast Asia and is a leading corporate advisor in the region. 

CIMB Bank is the group’s main commercial banking arm in Malaysia, operating a vast network of over 200 branches nationwide. It serves around 28 million customers across ASEAN and beyond, reflecting its significant regional presence. In Malaysia, CIMB is often noted as the second-largest bank by assets. The group also has a prominent Islamic banking subsidiary (CIMB Islamic) and has been at the forefront of Islamic finance innovation. 

CIMB Fixed Deposit

CIMB eTIA-i/ TIA-i Campaign (until 30th Jun 2025)

CIMB eFD-i Campaign (until 30th Jun 2025)

Hong Leong Bank

Hong Leong Bank Berhad is a major public-listed banking group in Malaysia and part of the Hong Leong Financial Group. It originated from a banking business founded in 1905 in Kuching (Sarawak) and eventually became known as Hong Leong Bank after the Hong Leong Group acquired and expanded it. Today, Hong Leong Bank offers a comprehensive range of services including retail banking (deposits, loans, cards), corporate banking, and wealth management. It is among the top five domestic banks by assets, known for its prudent management and strong asset quality. 

Hong Leong Bank has also been a pioneer internationally – notably being the first Malaysian bank to expand into China’s banking sector by investing in Bank of Chengdu in 2008, and it has subsidiaries in Vietnam and Cambodia. In Malaysia, it operates a robust branch network and has embraced digital banking innovations. 

The bank also operates Hong Leong Islamic Bank as a wholly owned subsidiary to provide Islamic banking products. Customers often associate Hong Leong Bank with stability, efficient customer service, and a focus on mortgage and SME lending.

HLB Fixed Deposit Account

HSBC Malaysia

HSBC Bank Malaysia Berhad, commonly known as HSBC Malaysia, is one of the largest foreign banks operating in the country and a key member of the global HSBC Group. Established in Malaysia in 1984, it has a longstanding presence and is among the oldest financial institutions in the nation. 

As a full-service bank, HSBC Malaysia offers a comprehensive suite of financial products: retail banking (including deposits, credit cards, personal loans, and mortgages), commercial and corporate banking, wealth management, and investment banking.

HSBC Amanah Malaysia Berhad is the bank’s Islamic banking arm, providing a full range of Shariah-compliant products such as Islamic current and savings accounts, personal and business financing, and Islamic investment solutions. This enables HSBC Malaysia to cater to the diverse needs of both conventional and Islamic banking customers across the country.

HSBC Time Deposit

HSBC Everyday Global Account TD/-i (until 30 Jun 2025)

India International Bank Malaysia

India International Bank (Malaysia) Berhad (IIBM) is the first Indian-origin bank in Malaysia, established in 2012 as a joint venture between three Indian banks: Bank of Baroda, Indian Overseas Bank, and Andhra Bank. The creation of IIBM marked a milestone in Malaysia–India economic relations, providing a dedicated institution to serve the banking needs arising from trade, investment, and diaspora ties between the two countries. 

Based in Kuala Lumpur with a few branches in major cities, IIBM offers both retail and corporate banking services. For individuals, it provides savings and fixed deposit accounts, personal loans, and remittance services (particularly facilitating money transfers to India). On the corporate side, it focuses on trade finance, corporate loans, and services for Indian expatriate businesses in Malaysia. As a smaller foreign bank, IIBM leverages its shareholders’ expertise to deliver niche services – it is often the go-to bank for customers who require familiarity with the Indian banking system or need seamless transactions between Malaysia and India. Regulated by Bank Negara Malaysia, IIBM operates under local banking rules while drawing on its Indian roots for operational support and product offerings.

India International Bank Fixed Deposit

Maybank

Malayan Banking Berhad, popularly known as Maybank, is the largest bank in Malaysia by total assets and market capitalisation. Founded in 1960, it has grown into a leading banking group in Southeast Asia with an extensive international network. In Malaysia, Maybank boasts several hundred branches – one of the most extensive domestic networks. 

As a universal bank, Maybank offers the full spectrum of financial services: everyday retail banking (deposits, credit cards, home loans), business and corporate banking, investment banking, insurance (via Etiqa), and asset management. Maybank is especially noted for its dominance in consumer banking and its status as a household name; it has consistently been rated as Malaysia’s most valuable bank brand. 

The group also has a significant Islamic banking arm, Maybank Islamic Berhad, which is the largest Islamic bank in Malaysia and in the ASEAN region. This arm provides Shariah-compliant products parallel to its conventional offerings – from Islamic savings accounts and term deposits to sukuk financing and takaful insurance. 

Maybank eFixed Deposit Account

Maybank e-IFD-i (until 15 Jun 2025):

MBSB Bank

MBSB Bank Berhad is one of Malaysia’s newer Islamic banks, officially formed in 2018 through the transformation of Malaysia Building Society Berhad (MBSB) into a banking institution. MBSB itself was a long-running financial services company (established in 1950, known for home financing) that acquired an Islamic banking license by taking over Asian Finance Bank. The result, MBSB Bank, is a full-fledged Islamic bank wholly owned by the MBSB corporate group. 

Backed in part by the Employees Provident Fund (a major shareholder of MBSB), the bank operates under Shariah principles and offers a comprehensive range of products for individuals and businesses. MBSB Bank’s services include personal financing, home and vehicle financing, deposit accounts, and corporate financing, all structured in compliance with Islamic law.

MBSB Term Deposit-i:

MBSB Term Deposit-i Campaign (until 30 Jun 2025):

MBSB TIA-i Campaign (until 30 Jun 2025):

Public Bank

Public Bank Berhad is one of Malaysia’s leading domestic banks, distinguished by its consistent performance and customer service excellence. Founded in 1966 by the late Tan Sri Teh Hong Piow, Public Bank has grown to become the third-largest bank in Malaysia by assets. It is also among the most profitable and efficiently managed banks in the country, often lauded for low non-performing loans and high cost-efficiency. 

Public Bank’s core business is retail banking – it has a large customer base of individuals and small businesses. The bank offers a wide array of products including savings and fixed deposit accounts, housing and vehicle loans, credit cards, and unit trust funds (through its subsidiary Public Mutual). With over 250 branches across Malaysia, Public Bank has an extensive reach. 

It has a conservative approach, which has helped it maintain a strong balance sheet and weather economic cycles with stability. Public Bank also operates Public Islamic Bank (its Islamic banking division) to provide Shariah-compliant services parallel to its conventional offerings. 

Public Bank eFixed Deposit:

Public Bank eFD via FPX Campaign (until 30 Jun 2025):

Public Bank PowerInvest Fixed Deposit (until 30 Jun 2025):

* UT / Insurance / Takaful : PLUS FD / TD-i Ratio (2 : 1)

Public Bank PowerInvest Fixed Deposit (until 30 Jun 2025):

* UT / Insurance / Takaful : PLUS FD / TD-i Ratio (5 : 1)

Standard Chartered

Standard Chartered Bank Malaysia Berhad, is the oldest bank operating in the country, with its first branch established in Penang in 1875. It was locally incorporated on 29 February 1984. As a member of the global Standard Chartered Group, the bank has a significant presence in Malaysia, employing over 8,000 people across more than 30 branches nationwide, including its head office at Menara Standard Chartered in Kuala Lumpur.

Standard Chartered Malaysia offers a comprehensive range of financial services encompassing retail banking (such as savings and current accounts, credit cards, personal loans, and mortgages), wealth management, and wholesale banking solutions for small and medium-sized enterprises (SMEs), corporations, and institutions. The bank is particularly recognized for its cross-border banking capabilities, facilitating international trade and investment for clients.

The bank's Islamic banking subsidiary, Standard Chartered Saadiq Berhad, was established in November 2008. It provides a full suite of Shariah-compliant products and services, including Islamic savings and current accounts, financing solutions, and investment products, catering to both individual and corporate clients.

Standard Chartered (Fixed Deposit / Term Deposit-i campaign) (until 30 Jun 2025):

RHB Bank

RHB Bank Berhad is the flagship entity of RHB Banking Group, which ranks as the fourth-largest financial services group in Malaysia. The group was formed via mergers, notably a 1997 merger between Kwong Yik Bank and DCB Bank that created the core of today’s RHB Bank. 

RHB offers a full suite of banking services: it has substantial operations in retail banking, business banking, and also owns RHB Investment Bank and RHB Islamic Bank to cover investment banking and Islamic financial services, respectively. With about 200+ branches in Malaysia and presence in regional markets, RHB Bank serves millions of customers. 

In the consumer segment, RHB is known for its deposit accounts, competitive mortgage and loan products, and credit cards (often collaborating on promotions with retailers). It also has a growing digital banking presence via its RHB Now platform. The bank’s corporate arm provides services to SMEs and large companies, from financing to cash management. 

RHB Ordinary Fixed Deposit:

RHB Premier (Term Deposit)

Alternatives to Fixed Deposits

Fixed deposits, while a staple in traditional saving strategies, come with their own set of limitations. Primarily, they require locking in funds for a fixed term, during which access is restricted without incurring penalties.

The interest rates, although stable, may not always keep pace with inflation, potentially diminishing the real value of savings over time.

Given these constraints, many savers and investors are exploring alternative investment instruments that offer flexibility, potentially higher returns, and other benefits that fixed deposits lack.

Cash Management Solutions

Cash management solutions stand out for their high liquidity and the potential for higher yields compared to traditional fixed deposits.

By investing in money market funds, these solutions offer a safe investment avenue with returns that can outpace those of fixed deposits.

The flexibility to withdraw funds without penalties makes them an attractive option for investors seeking both safety and accessibility.

One such option for savvy investors who want more from their idle cash is StashAway Simple. StashAway Simple offers investors a projected rate of 3.6% p.a. without needing to lock up your money and it does not impose minimum or maximum investment.

Flexi Home Loan Account

A flexi home loan account allows for the prepayment of home loans, reducing the interest cost over the loan's tenure. Any excess payments can be withdrawn, providing a unique blend of savings and liquidity. 

This option effectively uses the interest-saving mechanism as an indirect investment return, appealing to homeowners looking to reduce their mortgage costs while maintaining access to their funds.

National Education Savings Scheme (SSPN)

The SSPN is tailored for parents and guardians aiming to save for their children's higher education. It offers competitive dividends and is backed by the Malaysian government, ensuring a high level of security. 

Contributions to SSPN qualify for tax relief, making it a financially savvy choice for families planning for educational expenses. This scheme highlights the importance of targeted savings with specific long-term goals in mind.

Amanah Saham Nasional Berhad (ASNB)

ASNB funds, particularly appealing to both Bumiputera and Non-bumi investors, offer a range of fixed and variable price funds. These funds have historically provided returns that are competitive, if not superior, to fixed deposits. 

The stability of fixed-price funds, combined with the potential for higher dividends, makes ASNB an attractive option for investors looking for more dynamic and potentially rewarding investment opportunities compared to the fixed nature of FDs.

Read more: Difference between ASB, ASM, ASN

Differences between Savings and Fixed Deposits Accounts

Not all bank accounts are built the same. While both savings and fixed deposits help you grow your money safely, they serve different purposes—one gives you flexibility, the other rewards you for commitment.

Here’s a side-by-side breakdown to help you decide which one works better for your financial situation:

Many Malaysians use both account types in tandem—FDs for short-term wealth-building, and savings accounts for everyday access. 

Types of FDs in Malaysia

Not all fixed deposits are created equal. If you’ve ever seen headlines promising “up to 6.28% p.a.” returns, chances are the actual yield is much lower once you factor in the fine print.

In Malaysia, banks commonly offer promotional fixed deposits that fall under two main types: Step-Up FDs and FDs with CASA bundling. Both can still offer decent returns—if you know how to read between the lines.

Here’s how each type works:

For example, a bundled FD offering “6.28% p.a.” may actually deliver only 4.02% p.a. after averaging. Always calculate the effective interest rate (EIR)—not just the headline figure—before locking in your money.

What Happens if I Withdraw My Fixed Deposit Early?

Fixed deposits are designed to reward patience. So if you’re thinking of dipping into your funds before maturity—even just a day early—be prepared to give up some, or even all, of your interest.

Banks in Malaysia offer flexible tenures from as short as 1 month to as long as 5 years, but the penalties for early withdrawal vary depending on your FD’s duration.

Here’s how early withdrawals are typically treated:

• Tenure of 1–3 months: Any early withdrawal—whether full or partial—means you’ll forfeit 100% of the interest earned. Even if you’re just a day away from maturity, you get nothing.
• Tenure of more than 3 months: If you withdraw within the first 3 months, the same rule applies—no interest will be paid. But if you withdraw after the third month, banks may still give you interest, but only at 50% of your original rate, calculated on a pro-rated basis.

Moral of the story? Only lock in an FD when you’re certain you won’t need the cash before the end of the tenure. Otherwise, you risk turning your high-interest account into one that pays less than a regular savings account.

Are My Deposits Safe?

Yes—if your money is placed with a licensed bank, your deposits are protected. In Malaysia, all FDs with commercial and Islamic banks that are members of Perbadanan Insurans Deposit Malaysia (PIDM) are automatically insured—up to RM250,000 per person, per bank, covering both principal and interest. This means that even in the unlikely event your bank fails, PIDM will reimburse your insured deposits with no action or fees required from you.

If you're depositing more than RM250,000, one simple way to stay fully protected is to spread your funds across multiple PIDM member banks, or consider joint accounts, which enjoy separate coverage under PIDM. For example, placing RM250,000 in your name and another RM250,000 in a joint account with your spouse ensures both are fully covered.

Not all banks fall under PIDM, though. Development financial institutions (DFIs) such as Bank Rakyat or Agrobank are governed instead under the Development Financial Institutions Act 2002 (DFIA) and don’t offer standard deposit insurance. However, most DFIs do guarantee 100% principal and interest on deposits, especially for retail and cooperative savers. Always check the bank's guarantee terms before committing your funds.

Key Considerations When Choosing a Fixed Deposit Account

Beyond the interest rates and promotions, there are key factors to consider when selecting a fixed deposit account. Here are some critical points to bear in mind:

Tenure Options

Different banks offer a variety of fixed deposit tenure options that can range from as short as a week to several years. Assess what length of time aligns with your financial plans and look for banks that offer the flexibility you need.

Minimum Deposit

Each bank will have a minimum deposit requirement for fixed deposit accounts. Ensure that you're comfortable with the amount you must lock in and that it doesn't compromise your short-term financial requirements.

Interest Rates

The interest rate is a pivotal factor in calculating your returns. Keep an eye on both the base rates and any promotional rates, evaluating how these can help grow your savings over time.

Access to Funds

Consider if you may need to access your funds before the fixed term ends. Some banks offer partial withdrawal options, while others may not. Understand the terms and potential penalties for early withdrawal before committing to an account.

Additional Benefits

Many banks offer additional benefits with their fixed deposit accounts, such as insurance coverage, credit card tie-ins, or loyalty program bonuses. These add-ons can significantly enhance the overall value of the fixed deposit and should be taken into account when deciding.

By keeping these considerations at the forefront, you can make a well-informed choice regarding your fixed deposit account selection in Malaysia.

Diversify Your Investments for Better Returns

While fixed deposit accounts offer secure and assured growth, diversification is key to maximizing your financial returns. Consider integrating your fixed deposit strategy with other investment avenues, such as unit trust funds, stocks, or real estate investment trusts (REITs), to create a balanced portfolio that can yield higher returns over the long term.

Financial advisors often recommend the 50/30/20 rule, where 50% of your income goes to necessities, 30% to discretionary spending, and 20% to savings and investments. Within this 20%, a portion can be directed to fixed deposits, with the rest allocated to a mix of other investment vehicles.