It‘s already the 3rd month of the year and if you've received any angpaus during the Chinese New Year, it's time to find a place to keep them! Thanks to their extremely low risks and higher interest rates than your conventional savings accounts, you should place your angpau money into fixed deposit accounts. But, not all fixed deposits accounts are made the same. Today, we will go through some of the best rates you can get in March 2021 from 5 major banks in Malaysia!
1. Public Bank
Promotion Period: Until 30th April 2021
Interest Rates:
• 2.00% (1 mth)
• 2.10% (2 mth)
• 2.20% (3 mth)
Minimum Placement: RM 5,000
Maximum Placement: RM 2,000,000
T&C: Deposits through FPX transactions on PBe Online Banking.
#Public Bank Fixed Deposit / Term Deposit-i
Promotion Period: Until 31th March 2021
Interest Rates:
• 2.08% (3 mth)
• 2.28% (8 mth)
Minimum Placement: RM 10,000
Maximum Placement: RM 1,000,000
T&C: Limited to Fresh Funds. Limited to PBB & PIBB customers.
2. RHB Bank
#RHB Bank Commodity Murabahah Deposit-i (CMD-i)/e-Term Deposit-i
Promotion Period: Until 31th March 2021
Interest Rates:
• 2.35% (6 mth)
• 2.35% (12 mth)
Minimum Placement: RM 10,000
Maximum Placement: RM 2,000,000
T&C: Deposits through FPX transactions on RHB Now Online Banking.
3. Hong Leong Bank
#Hong Leong Bank e-Fixed Deposit / e-Fixed Deposit-i
Promotion Period: Until 31th March 2021
Interest Rates:
• 2.50% (3 mth)
• 2.50% (6 mth)
Minimum Placement: RM 10,000
Maximum Placement: RM 2,000,000
T&C: Fixed Deposit cum savings promotion at a 10:1 ratio. i.e. If you have RM 10,000 in your FD, you need RM 1,000 in your savings account.
4. CIMB Bank
Promotion Period: Until 4th March 2021
Interest Rates:
• 2.10% (3 mth)
• 2.20% (6 mth)
• 2.25% (12 mth)
Minimum Placement: RM 5,000
T&C: Limited to CIMB customers. Deposits fresh funds through CIMB Clicks, not applicable for CIMB Clicks App.
5. OCBC Bank
Promotion Period: Until 31st March 2021
Interest Rates:
• 2.28% (12 mth)
Minimum Placement: RM 1,000
T&C: Fresh fund deposits through FPX transactions on OCBC Bank Online Banking.
6. Alliance Bank
#2021 Wealth and Fixed Deposit Campaign
Promotion Period: Until 31st March 2021
Interest Rates:
• 20.21% (1 mth)
• 6.38% (3 mth)
Minimum Placement: RM 1,000
T&C: Invest in selected Alliance Bank Unit Trust (UT) funds or purchase Banca Regular Premium (RP) products.
7. Bank Muamalat
Promotion Period: Until 31st July 2021
Interest Rates:
• 3.03% (12 mth)
• 3.08% (15 mth)
• 3.18% (18 mth)
Minimum Placement: RM 5,000
T&C: Fixed Deposit cum savings promotion at a 8:2 ratio. i.e. If you have RM 8,000 in your FD, you need RM 2,000 in your savings account.
These are some Fixed Deposit promotions coming out from 7 major banks in Malaysia to help make the most of your angpau money. For more information and detailed terms and conditions, be sure to click on the links in the article or head over to your nearest bank branch!
*All interest rate percentages are per annum.
*Details compiled by XiiaoC
