Compare Fixed-Rate Deposits in Malaysia

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20 live offers compared from 16 providers, from RM3.75. Updated daily.

What are Fixed-Rate Deposits in Malaysia?

A fixed deposit (FD), or term deposit, locks a lump sum with a bank for a set period in exchange for a guaranteed rate of return, typically higher than an ordinary savings account. In Malaysia both conventional fixed deposits and Shariah-compliant Islamic fixed deposits (based on structures such as Commodity Murabahah or Tawarruq) are widely offered. FDs are a low-risk way to earn a predictable return on money you do not need immediate access to, with tenures from one month to several years.

How the Malaysian market works

Fixed deposits are offered by conventional and Islamic banks, with rates influenced by Bank Negara Malaysia's Overnight Policy Rate (OPR). You commit a minimum amount for a chosen tenure and receive a fixed interest or profit rate; withdrawing early usually forfeits some or all of the return. Banks frequently run promotional FD campaigns offering higher rates for new funds, larger placements, or when paired with other products. Islamic term deposits pay profit under Shariah-compliant contracts.

Benefits

Guaranteed returns — The interest or profit rate is fixed for the tenure, giving a predictable, low-risk return.

PIDM protection — Fixed deposits are insured by Perbadanan Insurans Deposit Malaysia up to RM250,000 per depositor per bank.

Higher than savings — FD rates typically exceed ordinary savings-account returns for locked funds.

Shariah-compliant options — Islamic fixed deposits pay profit under Shariah structures for customers who prefer them.

How to choose

Compare the rate against the tenure and the minimum placement required, and note that promotional rates often apply only to fresh funds or specific tenures. Ensure you can leave the money untouched, since early withdrawal usually forfeits the return. Decide between conventional and Islamic deposits, check whether interest is paid at maturity or periodically, and confirm the bank is PIDM-insured. Ladder multiple FDs if you want a balance of return and access.

Leading providers in Malaysia

Maybank, Public Bank, Hong Leong Bank, RHB Bank and Alliance Bank offer competitive conventional and Islamic fixed deposits, frequently with promotional campaigns. Kuwait Finance House Malaysia and Bank Muamalat Malaysia are Islamic banks providing Shariah-compliant term deposits. Because promotional rates shift regularly, compare current FD campaigns across several banks, and check whether the best rate requires new funds or a bundled product.

What it costs

Fixed deposits do not charge a fee; instead they pay you a return, commonly around 3.75% or higher on promotional campaigns depending on tenure and OPR conditions. Minimum placements often start from around RM1,000, with higher tiers unlocking better promotional rates. The main cost is opportunity cost: your money is locked for the tenure, and withdrawing early typically forfeits some or all interest, so only deposit funds you can spare.

Protections and regulation

Fixed deposits are offered by banks licensed and supervised by Bank Negara Malaysia (BNM), and eligible ringgit deposits are protected by Perbadanan Insurans Deposit Malaysia (PIDM) up to RM250,000 per depositor per member bank, covering both conventional and Islamic FDs. Islamic term deposits fall under the Islamic Financial Services Act 2013. Complaints can be escalated to the Ombudsman for Financial Services.

Common questions

Can I withdraw before maturity? Yes, but early withdrawal usually means forfeiting some or all of the interest or profit, so FDs suit money you can lock away.

Are fixed deposits safe? Yes, eligible FDs at PIDM member banks are insured up to RM250,000 per depositor per bank, making them very low risk.

Why do promotional rates vary? Banks offer higher rates for fresh funds, specific tenures or larger placements to attract deposits, so the best rate often has conditions attached.

Fixed-Rate Deposits in Malaysia — FAQ