Best Fixed Deposit Rates in Malaysia — October 2026
By money.com.my EditorialRates and minimum deposit checked against the banks' own pages for 6 of 8 fixed deposits, last on 16 October 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. Our table is not ranked by rate: featured picks come first, then products by our editorial rating. Each row shows a headline rate; the tenure it applies to varies by product, so check the bank's own page for the rate at your 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 | 2.45% p.a.Headline rate (tenure varies, check the bank's page) | — | — | Savers comfortable placing FD online who want a slightly higher rate than the Big 3 banks | Details |
| 2 |  Maybank Maybank Fixed Deposit-i | 2.05% p.a.Headline rate (tenure varies, check the bank's page) | — | — | Shariah-conscious savers who want a halal equivalent of the Maybank FD with competitive profit rates | Details |
| 3 | Maybank Maybank Fixed Deposit | 2.05% p.a.Headline rate (tenure varies, check the bank's page) | — | — | Savers who want a reliable 12-month FD from Malaysia's largest bank with PIDM protection | Details |
| 4 |  CIMB Bank CIMB Fixed Deposit | 2.05% p.a.Headline rate (tenure varies, check the bank's page) | — | — | Existing CIMB customers who want to place FD easily via CIMB Clicks or CIMB OCTO app | Details |
| 5 |  Public Bank Public Bank Fixed Deposit | 1.80% p.a.Headline rate (tenure varies, check the bank's page) | — | — | Savers who want a Public Bank FD from RM1,000 for terms of 1 to 60 months | Details |
| 6 |  Hong Leong Bank HLB e-FD | 2.10% p.a.Headline rate (tenure varies, check the bank's page) | — | — | HLB ConnectFirst customers who want to consolidate savings and FD with one bank | Details |
| 7 |  AmBank AmBank Fixed Deposit | 2.00% p.a.Headline rate (tenure varies, check the bank's page) | — | — | Existing AmBank customers who want slightly above-average FD rates with PIDM protection | Details |
| 8 |  BSN (Bank Simpanan Nasional) BSN Fixed Deposit | 2.15% p.a.Headline rate (tenure varies, check the bank's page) | — | — | First-time savers and low-income earners who want a RM500-minimum government-backed FD | Details |
Rates and minimum deposit: checked against the bank's own product page for 6 of these 8 products, between 7 Oct 2026 and 16 Oct 2026. The other 2 have no such check in our data, so confirm their figures on the bank's page. Rates and terms can change without notice; confirm with the bank before you apply.
Our picks — ranked
How we ranked these: featured picks first, then our editorial rating, not ranked by interest rate — 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, and our table is not ordered by rate. Treat the rate column as a headline rate whose tenure varies by product, confirm the rate for your tenure on the bank's page, and check whether a higher advertised figure is a time-limited campaign with an end date and conditions such as new funds only.
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 expect to lose the interest at the banks whose terms we read: Hong Leong, Public Bank and BSN pay no interest on a premature withdrawal under their conventional terms. We could not read Maybank's or CIMB's current terms, so check the terms before placing the deposit.
Rates and minimum deposit: checked against the bank's own product page for 6 of these 8 products, between 7 Oct 2026 and 16 Oct 2026. The other 2 have no such check in our data, so confirm their figures on the bank's page. Rates and terms can change without notice; confirm with the bank before you apply.