After I have written an article on topic “Highest FD Rates in Malaysia“, I got good response. Some of my friends asking me on which bank pays the highest Fixed Deposit (FD) rates for 1 month.
So, today I’m going to share the best 1 month FD Rates in Malaysia. If we have RM 5000 for fixed deposit placement, which bank and what type of the account should we choose? In order to get the best 1 month FD, I have prepared the following table.
|1||Bank Rakyat Term Deposit Account||3.30% p.a.||No explicit guarantee from PIDM.|
|2||MBSB Conventional Fixed Deposit||3.10% p.a.||No explicit guarantee from PIDM.|
|3||Affin Bank||3.00 % p.a.||-|
|4||HongLeong Bank Mach Fixed Deposit||3.00 % p.a.||First Online Fixed Deposit|
MayBank, CIMB, RHB, BSN, Public bank, Ambank
|2.95 % p.a.|
3.00 % p.a.
Return Islamic Account-i (FRIA-i)
|3.00 % p.a.||-|
1st Update: Jun 2015
2nd Update: Jun 2016
3rd Update: July 2017
From the table above, we know that Bank Rakyat pay the highest 1 month Fixed Deposite rates. However, most of the bank in Malaysia like Maybank, CIMB or RHB is giving 2.95% or 3.00%.
In my view, Bank Rakyat pay the highest Fixed Deposite rates because their branches are less if compare to other bank. Besides, Bank Rakyat is no explicit guarantee from PIDM, so they pay higher rates to attract people.
LiangLiang writes about Saving, Blogging, and Investment, enjoys cooking and discovering everything new. Oh yes, she is a pretty and smart girl too.