Malaysia Bank Fixed Deposit Rate

I felt very proud because I have a great amount of money in fixed deposit. This is because fixed deposit would be safer investments type but inflation rates running high, you may actually lose more value in your fixed deposit savings over time than what you actually receive back in interest. This is the main risk of investing in low interest rates investments like fixed deposit.

BSN

About 2 week ago, almost all bank in Malaysia lowered fixed deposit interest rate to 3% p.a. Are you affected by these interest rate changes? What are you planning to do? I have done some self-research and found that Bank Simpanan National is offering 3.6% p.a., which is the highest fixed deposit interest rate currently. I can see a lot of auntie & uncle go to put their hard earned money in this kind of bank during Chinese New Year.

But the thing that always makes people confused is the calculation work. To know more about this, you can go back to my previous article -> How To Calculate Bank FD Rate

12 thoughts on “Malaysia Bank Fixed Deposit Rate”

  1. DarrenNg,

    CIMB now only offers 2% of interest for F.D. it drops 1% within a month. real pathetic! so, which bank offers highest interest now?

  2. Bank Rakyat maybe… but all the bank are same now 2% only but is there gonna be an effect on FD rates because of Government just lunch stimulus package?

    do you guys have any link for FD calculator … i dont really know how to count FD..

    Example

    RM10k FD + 2% FD rates (1 MONTH) = RM200 <—earning

    Is that correct?

  3. in india its a very good and attractive,,,it offers more than 9.5% how was it,,,,any question please ,,contact on my email

  4. I placed 2 FDS in BSN for RM1k &RM2K on 14/01/2008,tenures 9 and 12mths.On 26/9/11, I handed the two original FDS at the same BSM branch to redeem them. I was told that the BSN computer system showed I have reported earlier first theywere lost,then got 2 new FD certs which I used to redeem.I said I never reported any loss,nor got new FDs nor redeemed them.On insisting that this may have occured due to a computer error and/or human intervention in system,they took back my 2 original FD certs and agreed to investigate at Shah Alam HQ. To date, no response though the staff at Branch expressed deep concern and promisedto resolve.May be this happened coz i was complacent to leave the FDs too long after maturity opening a worm to creep into computer and to steal the money realizing I am already 75 yrs old and gone.Appreciate yr comments and advice if I receive a negative response from BSN.My contact No. 03-78762672. Regards.

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