Fixed Deposit Rates Malaysia

Up to 2 35 p a.
Fixed deposit rates malaysia. Deposit interest rate in malaysia averaged 4 90 percent from 1980 until 2019 reaching an all time high of 9 75 percent in 1982 and a record low of 2 08 percent in 2009. B deposit account held by a financial institution conducting labuan banking business or labuan islamic banking business. A deposit account payable outside malaysia. However occasionally they may also be called time deposit accounts as well depending on the bank.
This page includes a chart with historical data for deposit interest rate in malaysia. That way you can enjoy high fixed deposit rates on large balances without worrying about having them insured. Fixed deposit efixed deposit. The promotional interest rate will only apply if the fixed deposit is held to maturity.
The rates presented here have been revised after several cuts to the overnight policy rate. In malaysia fixed interest savings products issued by most banks are most commonly called fixed deposit accounts. Or d non deposit account e g. In the event that your bank fails pidm protects you against the loss of your deposits but only for up to rm250 000 per depositor per bank.
Rm 1 000 to rm 5 000. Unit trust securities trading account. As a result banks have revised the interest profits rates on fixed deposit accounts to match the current financial situation. Which is currently at a historically low 1 75.
C deposit account held by a non deposit taking member. Protection for co operative banks now let s take a look at protection for co operative banks who provide loans mainly to farmers and small time businessmen with protection coming directly from the malaysian ministry of finance through the development of financial institution act. Most fixed deposit accounts in malaysia are also regulated by perbadanan insurans deposit malaysia pidm that gives protection for your investment in the unlikely event of member bank failure. About fixed deposits in malaysia.
4 november to 31 december 2020 this promotion is open to individuals who are the account holders of a current account or savings account or current account i or savings account i and have registered for hong leong connect. So when identifying which fixed deposit account to put your money in the main points of consideration should be interest rates minimum deposit amount and if they are insured by pidm. Earn fixed rates while enjoying the ease of managing your account online. Deposit interest rate in malaysia decreased to 2 98 percent in 2019 from 3 10 percent in 2018.
Efixed deposit i interest rate. Across the asian region some countries call similar bank issued products time deposits china or.