Best Fixed Deposit Rates in Malaysia — August 2026
By money.com.my EditorialLast updated: 13 April 2026Top 8 from 8 products reviewed
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Fixed deposits are the safest yield-bearing instrument for Malaysian savers — PIDM insures deposits up to RM250,000 per depositor per institution. Rates vary by bank, tenure (1–60 months), and whether you are a new or existing customer. Digital banks and smaller licensed banks consistently offer the highest rates, often 30–80 basis points above major bank offerings. We track live rates and rank by annualised yield for a 12-month benchmark tenure.
How fixed deposit rates actually work →New to FDs? Our guide explains board vs promotional/new-fund rates, how the OPR moves them, eFDs and Islamic FD, plus a worked FD-ladder example.Quick comparison
| # | Product | Key Rate | Annual Fee | Min Income | Best For | |
|---|---|---|---|---|---|---|
| 1 |  Alliance Bank Alliance Bank e-FD | 3.25% p.a. | — | — | Savers comfortable placing FD online who want a slightly higher rate than the Big 3 banks | Details |
| 2 |  Maybank Maybank Fixed Deposit-i | 3.10% p.a. | — | — | Shariah-conscious savers who want a halal equivalent of the Maybank FD with competitive profit rates | Details |
| 3 | Maybank Maybank Fixed Deposit | 3.10% p.a. | — | — | Savers who want a reliable 12-month FD from Malaysia's largest bank with PIDM protection | Details |
| 4 |  Public Bank Public Bank Fixed Deposit | 3.05% p.a. | — | — | Savers who want a lower entry deposit (RM500 minimum) without compromising on bank safety | Details |
| 5 |  CIMB Bank CIMB Fixed Deposit | 3.10% p.a. | — | — | Existing CIMB customers who want to place FD easily via CIMB Clicks or CIMB OCTO app | Details |
| 6 |  Hong Leong Bank HLB e-FD | 3.05% p.a. | — | — | HLB ConnectFirst customers who want to consolidate savings and FD with one bank | Details |
| 7 |  AmBank AmBank Fixed Deposit | 3.15% p.a. | — | — | Existing AmBank customers who want slightly above-average FD rates with PIDM protection | Details |
| 8 |  BSN (Bank Simpanan Nasional) BSN Fixed Deposit | 3.00% p.a. | — | — | First-time savers and low-income earners who want a RM500-minimum government-backed FD | Details |
Rates are verified against each provider's official source — open any product for its verification date. Always confirm directly with the bank before applying.
Our picks — ranked
How we ranked these: annualised interest rate (12-month), PIDM protection status, minimum deposit amount — from 8 products reviewed.
Frequently asked questions
Are fixed deposits in Malaysia safe?+
Yes. Fixed deposits at BNM-licensed member institutions are insured by PIDM (Perbadanan Insurans Deposit Malaysia) up to RM250,000 per depositor per institution. All licensed commercial banks, Islamic banks, and BNM-licensed digital banks are PIDM members.
Which bank offers the highest FD rate in Malaysia?+
Rates change monthly. Digital banks and mid-tier banks typically offer higher promotional rates than the Big-5 banks. Check our live comparison table for current rates.
What is the minimum deposit for an FD in Malaysia?+
Most banks require a minimum of RM500–RM5,000. Some digital banks accept deposits as low as RM1.
Can I withdraw my FD before maturity?+
Yes, but you will typically forfeit accrued interest for the broken period, and some banks charge an early withdrawal penalty. Check the terms before placing the deposit.
Rates and product details verified as of 13 April 2026. Product availability and rates are subject to change — always check with the provider before applying. All data sourced from official bank websites and Bank Negara Malaysia.