Fixed deposit rates in Malaysia are changing fast in 2025, and the gap between promotional offers and standard rates has never been wider. CIMB’s eFD-i promotional rate of 3.60% p.a. and HSBC’s headline 4.28% offer vastly different value propositions than the 2.05% standard 12-month Maybank rate, making it critical to compare options before committing.

4 related posts

OPR: 2.75% · Deposit Interest Rate 2025: 2.42% · Maybank 6-Month FD: 1.95% · CIMB eFD-i Max: 3.60% · Tenures from: 1 to 9+ months

Quick snapshot

1Confirmed facts
2What’s unclear
  • Availability of 7%+ standard rates from mainstream banks (unverified claim; source needed)
  • Exact non-resident deposit limits vary by bank policy (unverified claim; source needed)
3Timeline signal
4What’s next
Key metric Value
Overnight Policy Rate (OPR) 2.75% (cut from 3.00%)
Deposit Interest Rate 2025 2.42%
Typical FD Tenures 1-12 months
Highest Promo Rate CIMB 3.60% eFD-i
PIDM Protection Limit RM250,000 per depositor per bank
Lowest Min Deposit MBSB: RM500

Which bank in Malaysia has the best FD rate?

The answer depends on what you’re optimizing for: raw rate, minimum deposit, tenure flexibility, or bundled requirements. Alliance Bank’s Privilege Welcome promo currently leads at 3.90% for 6 months, but that’s reserved for new Privilege customers with a minimum RM10,000 deposit, valid through 30 September 2025. HSBC’s Everyday Global TD Campaign offers 4.28% p.a. for 6 months—highest across all promotions—though it requires a steeper RM50,000 minimum and up to RM1,000,000 for Premier Elite clients, running until 30 September 2025.

Top banks by rate

  • Alliance Bank — 3.90% (6 months, new Privilege customers, min RM10,000, Apr–Sep 2025)
  • HSBC — 4.28% (6 months, min RM50,000, Jul–Sep 2025)
  • CIMB eFD-i — 3.60% (private banking clients, p.a.)
  • Bank Islam — 3.75% (12 months, min RM10,000, Jul–Aug 2025)
The catch

Promotional rates above 3% almost always require new customer status, specific codes like AmBank’s HOT10, or bundled products. Standard rates from the same banks typically fall between 1.75% and 2.15%.

StashAway overview

StashAway aggregates Malaysia FD rates and tracks which banks offer the best deals by tenure. Their April 2025 data shows BSN offering 2.35% for 6 months and India International Bank at 2.70% for 1 month—both respectable but well below promo rates from conventional banks.

CIMB rates

CIMB’s standard eFD-i rates range from 1.75% to 2.15% depending on tenure. Their promotional 2025 campaign offers up to 3.45% for 7 months (min RM1,000, valid 11 July – 14 August 2025). For private banking clients, rates can reach 3.60% p.a.

Bottom line: The highest headline rate (4.28% HSBC) requires RM50,000 minimum. For most depositors with smaller amounts, Alliance Bank at 3.90% with RM10,000 or CIMB at 3.45% with RM1,000 offer better accessibility.

What is the Maybank fixed deposit rate now?

Maybank maintains some of the most recognizable standard rates in Malaysia, though they trail promotional offerings from competitors. Their standard rates span 1.80% to 2.15% p.a. across tenures of 1 to 60 months, with a minimum deposit of RM1,000. The 6-month rate sits at 1.95%, while the 12-month standard rate is 2.05%.

Tenure-based rates

  • 1 month: 1.75%
  • 6 months: 1.95%
  • 12 months: 2.05%
  • Tenure range: 1–60 months

1-9 month details

Maybank’s shorter tenures (1-9 months) cluster around 1.75% to 1.95%. These rates apply through Maybank2u for online bookings, and the bank does not currently run promotional campaigns matching competitors’ yields. Customers seeking higher returns may need to compare alternatives or wait for potential seasonal campaigns.

Why this matters

Maybank holds the largest market share in Malaysian deposits, which means many readers likely hold accounts there. Watching their rate movements signals broader market trends.

Can foreigners put fixed deposits in Malaysia?

Foreigners can open fixed deposit accounts in Malaysia, though eligibility and limits vary by bank. Standard Chartered explicitly states eligibility for Malaysian and Permanent Resident customers aged 18+ with NRIC required. For non-residents, each bank sets its own policies on maximum deposit amounts, and some require proof of income or local employment.

Eligibility rules

  • General requirement: Age 18+ with valid identification
  • Malaysians: NRIC typically required
  • Non-residents: Passport, proof of address, and bank-specific documentation needed
  • Note: Some promos restricted to new customers or Malaysian residents only

Non-resident limits

Research indicates uncertainty around exact non-resident deposit ceilings. Wise (currency transfer platform) notes on MYR transfers suggest that non-residents opening Malaysian bank accounts face reporting thresholds, but specific FD limits aren’t consistently published across bank websites. Non-residents should contact their chosen bank directly for current policy.

The trade-off

Foreign depositors gain access to Malaysian financial stability but sacrifice the PIDM protection benefits available to Malaysian residents up to RM250,000.

What is Malaysia’s current interest rate?

Bank Negara Malaysia cut the Overnight Policy Rate (OPR) to 2.75% in 2025, down from 3.00%, aiming to support economic growth. This benchmark rate directly influences what banks can offer on deposits. The deposit interest rate—a weighted average of bank FD rates published by the central bank—stands at 2.42% for 2025.

OPR details

The OPR functions as the reference rate Banks use when pricing deposits and loans. A lower OPR typically compresses deposit margins, meaning banks have less incentive to offer above-average FD rates. The cut to 2.75% signals accommodative monetary policy intended to reduce borrowing costs across the economy.

Deposit rates trend

Deposit rates track below OPR because banks maintain spread between what they pay depositors and what they charge borrowers. Standard FD rates from major banks (1.75%-2.15%) sit below both the OPR and the 2.42% deposit rate average, with promotional rates (3.45%-4.28%) temporarily exceeding the trend line.

Bottom line: The OPR cut to 2.75% creates a lower baseline for deposit rates, but competitive promotions temporarily push some FDs above the market average. Once promos expire, expect rates to revert closer to standard ranges.

Which bank gives 7% interest on fixed deposits?

No mainstream Malaysian bank currently offers 7% interest on standard fixed deposits. Claims of 7%, 8.75%, or 9.5% FD rates circulating online typically reference bundled promotions that require purchasing investment products, insurance policies, or unit trusts alongside the deposit.

High rate availability

RHB Bank offers up to 9.25% p.a. for a 1-month term, but this requires a minimum RM30,000 unit trust investment bundle. Alliance Bank’s Bancassurance bundle offers 6.00% p.a. for 6 months with a RM50,000 annualised insurance premium. These rates look attractive on paper but come with strings attached.

Current vs projected

The highest straightforward FD rate without bundled requirements currently reaches approximately 4.28% (HSBC, 6 months). This figure already exceeds typical savings account rates by a significant margin and requires a RM50,000 minimum. For depositors unwilling to meet high minimums or buy bundled products, the realistic ceiling sits around 3.90% (Alliance Bank) or 3.75% (Bank Islam).

What to watch

Claims of 7%+ “FD rates” often involve investment-linked products where the high return applies to the investment component, not the deposit. Always confirm whether a rate requires purchasing separate financial products.

Promotional FD rates comparison across Malaysian banks (July–September 2025)
Bank Promo Rate (% p.a.) Tenure Min Deposit Promo End Date
HSBC 4.28 6 months RM50,000 30 Sep 2025
Alliance Bank 3.90 6 months RM10,000 30 Sep 2025
Bank Islam 3.75 12 months RM10,000 31 Aug 2025
MBSB Bank 3.83 9 months RM500 31 Jul 2025
CIMB 3.45 7 months RM1,000 14 Aug 2025
Public Bank 3.45 6 months RM5,000 30 Sep 2025
AmBank 3.60 10 months RM1,000 31 Aug 2025
Hong Leong Bank 3.45 6 months RM1,000 31 Jul 2025
Standard Chartered 3.60 12 months RM30,000 31 Jul 2025
Affin Bank 3.30 12 months RM10,000 31 Jul 2025

Ten banks run active promotional campaigns as of mid-July 2025, ranging from 3.30% (Affin Bank) to 4.28% (HSBC). Most promos expire by late August or September, suggesting limited windows for depositors to lock in above-average rates.

Standard FD rates for major Malaysian banks
Bank Rate Range (% p.a.) Tenure Range Min Deposit
Maybank 1.80 – 2.15 1–60 months RM1,000
CIMB 1.75 – 2.15 1–60 months RM1,000
HSBC 1.95 – 2.15 1–60 months RM1,000
Alliance Bank 1.90 – 2.45 1–60 months RM500
Bank Rakyat 2.10 – 2.40 1–60 months RM500
MBSB Bank Varies Varies RM500

Standard rates cluster in a narrow band between 1.75% and 2.45%, with Bank Rakyat and Alliance Bank offering marginally higher standard yields. MBSB Bank and Alliance Bank maintain the lowest entry thresholds at RM500 minimum deposits.

Upsides

  • PIDM protects deposits up to RM250,000 per bank
  • Promotional rates up to 4.28% available for limited periods
  • Minimum deposits as low as RM500 (MBSB, Alliance Bank)
  • Islamic FD options available (Bank Islam, CIMB eFD-i, MBSB)
  • Online account opening available (HSBC, Maybank)

Downsides

  • Standard rates (1.75%–2.15%) lag behind inflation expectations
  • Highest promo rates require RM10,000–RM50,000 minimums
  • Most promos expire within 1–3 months
  • Bundled products required for rates exceeding 6%
  • Non-residents face unclear deposit limits and documentation requirements

Islamic fixed deposits such as CIMB’s eFD-i offer Shariah-compliant returns alongside competitive promotional rates, making them attractive alternatives for eligible depositors seeking faith-based banking options.

— CIMB Bank (Official Bank)

MBSB Term Deposit-i tends to have competitive FD interest rates when compared to other banks, but having the minimum deposit fixed at RM500.

— iMoney (Finance Portal)

Related reading: Singapore Fixed Deposit Rates March 2025 · UOB Points to Miles 2025 Conversion Rates

Additional sources

hsbc.com.my, ringgitplus.com, data.worldbank.org, cimb.com.my, imoney.my, ajobthing.com, sc.com, ftp.bills.com.au

Among Malaysian banks like HSBC and Maybank, RHBs latest 2025 rates stand out with competitive promotions that could boost your savings yield up to 4%.

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Frequently asked questions

What is a fixed deposit in Malaysia?

A fixed deposit (FD) is a savings product where you deposit a lump sum for a fixed tenure at a locked interest rate. Unlike savings accounts, your rate won’t change during the term, and early withdrawal typically incurs penalties. Tenures typically range from 1 to 60 months.

How does OPR affect FD rates?

The Overnight Policy Rate (OPR) set by Bank Negara Malaysia serves as the benchmark for bank lending and deposit pricing. When OPR decreases, banks typically reduce FD rates to maintain their lending margin. The recent cut to 2.75% creates downward pressure on deposit rates, though promotional campaigns can temporarily exceed the trend.

What is Public Bank fixed deposit rate?

Public Bank’s current special campaign offers up to 3.45% p.a. for 6 months with a minimum deposit of RM5,000, valid from 10 July to 30 September 2025. Their standard rates fall within the typical 1.75%–2.15% range across tenures of 1–60 months.

Is HSBC FD rate competitive?

Yes, HSBC currently offers one of the highest promotional rates at 4.28% p.a. for 6 months (minimum RM50,000, valid until 30 September 2025). Their standard rates of 1.95%–2.15% align with market norms. HSBC also allows online account opening, adding convenience for digital-savvy depositors.

How to use a Malaysia fixed deposit rate calculator?

Most comparison sites like RinggitPlus, StashAway, and iMoney offer FD calculators where you input your deposit amount, preferred tenure, and compare calculated returns across banks. For example, RM10,000 at 3.45% for 6 months earns approximately RM172.50 in interest before withholding tax.

What are FD rates for senior citizens in Malaysia?

Some banks offer preferential rates for senior citizens aged 60 and above, typically 0.10%–0.20% above standard rates. However, senior-specific promos weren’t prominently featured in July 2025 promotional campaigns. Contact individual banks or check their official websites for current senior citizen offerings.

Can NRIs open FDs in Malaysia?

Non-Resident Indians and other non-residents can open fixed deposit accounts in Malaysia with valid passport, proof of address, and bank-specific documentation. Limits and eligibility vary by institution, and some promotional rates restrict participation to Malaysian residents. Non-residents should confirm current policies directly with their chosen bank.

What is the minimum deposit for Malaysian FDs?

Minimum deposits range from RM500 (MBSB Bank, Alliance Bank) to RM1,000 (Maybank, CIMB, HSBC) for standard accounts. Promotional rates sometimes require higher minimums—HSBC’s 4.28% promo demands RM50,000, while AmBank’s HOT10 code requires RM1,000. Always check the specific terms for each promotional campaign.

The fixed deposit market in Malaysia rewards shoppers. Promotional rates above 3% exist, but they come with expiration dates, minimum thresholds, and eligibility conditions that don’t apply to standard savings accounts. For investors with RM10,000 or more sitting in low-yield accounts, moving funds into a short promotional FD could yield an extra RM100–RM200 over six months compared to staying put. Those with smaller amounts or shorter time horizons should focus on low-minimum options like MBSB at RM500 or watch for new campaigns that better fit their situation.