4 Ongoing Fixed Deposit Promotions That You Just Can’t Ignore!

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4 Ongoing Fixed Deposit Promotions That You Just Can’t Ignore!

Fixed deposits are a popular investment tool for many Malaysians who want to steadily and securely grow their wealth. For complete clarity on how FDs work, don’t forget to check out our beginner’s guide to fixed deposits.

That said, what you should ideally be doing is to build an investment portfolio that’s made up of multiple low-risk, medium-risk and high-risk investments in order to offset combined risk and ensure steady growth of your money.

If you’re looking to invest in an FD, you might be aware that you’re literally spoilt for choice as most of the banks offer FD products (with slightly varying rates of returns). You’ll be well-advised to check out accounts offering some of the best FD returns in Malaysia right now.

A safe way to steadily grow your wealth without increasing the risk factor is to invest in a fixed deposit when banks extend promotional offers like special rates on particular deposit amounts and tenures. On many occasions, we are simply not aware of these time-bound promotional offers and miss out on opportunities to amplify our fund’s value.

But there’s no reason to feel demoralised! We bring forth 4 great fixed deposit promotions which are currently running. So, hurry up, and make the most of them.

Related: How Investment-Ready Are You?

Am50Plus Fixed Deposit Promotion

Image source: Screengrab of Am50Plus Fixed Deposit Promotion page

This fixed deposit account is tailor-made for senior citizens who’re looking to build a retirement corpus or saving up for any other reason. As part of this promotion, you can earn a higher rate of interest – 4.50% p.a. every month for 36 months.

All you need to do is deposit a minimum of RM100,000 as fresh funds. This offer is valid until 15 July 2018.

What you’ll need to keep in mind

  • The depositor should be at least 49 years old
  • Once this FD matures, it will be renewed at the prevailing board rate for the same tenure
  • Interest amount will be credited into your AmBank account every month
  • No interest will be paid if you break the FD prematurely on or before 1 January 2019

Click here for more information.

Related: 9 Essential Questions About Fixed Deposits That Everyone Needs to Ask Before Investing

Bank of China 12-Month FD Special Rate Campaign

Image source: Screengrab of Bank of China 12-Month FD Special Rate Campaign page

Invest in a Bank of China Fixed Deposit and enjoy promotional interest rates on MYR, CNY, and USD deposits.

Currency

Deposit period Promotional interest rates Minimum deposit amount

MYR

12 months 4.28% p.a. RM5,000

4.28% p.a.

RM5,000 – RM149,999.99
4.40% p.a.

RM150,000 or more

CNY 3.78% p.a.

CNY10,000

USD 2.80% p.a.

USD5,000

For the MYR deposit, the first interest rate is only valid for existing customers while the other two rates are valid for new customers only. The CNY and USD deposit rates are valid for both existing as well as New-to-Bank customers. This offer is valid until 31 July 2018.

What you’ll need to keep in mind

  • Upon maturity, this FD will be renewed at the prevailing board rate for the same tenure
  • Interest amount will be credited into your nominated account once the FD matures
  • No interest will be paid in case of premature withdrawal of the FD within three months
  • CNY and USD deposits require you to convert MYR into the equivalent value of foreign currency at the prevailing rate

Click here for more information.

Related: How to Build and Grow a Fund for Your Child’s Higher Education

AmOnline ePROMO – Fixed Deposit/Term Deposit-i

Image source: Screengrab of AmOnline ePROMO – Fixed Deposit/Term Deposit-i page

When you don’t have the time to visit a bank and invest in an FD, starting one online can be more convenient. Invest in an eFixed Deposit/eTerm Deposit-i from AmBank today and benefit from promotional interest rates of 4.28% p.a. for 8 months.

To begin with, log in to your AmOnline account and click on ‘Fixed/Term Deposit’. Fill out the form that pops up with all mandatory information. In the space for a ‘Reward Code’, type out ‘LAUNCH’ to enjoy the promotional FD rates. This offer is valid until 31 July 2018.

What you’ll need to keep in mind

  • The minimum deposit amount for promotional rates is RM1,000
  • The interest that you earn will be credited into your AmBank account
  • This FD will be renewed upon maturity at the prevailing board rate for the same tenure
  • If the FD is withdrawn prematurely within three months, no interest will be paid

Click here for more information.

Related: 5 Good Reasons Why Millennials Should Invest in Unit Trusts

Hong Leong Islamic Bank Fixed Deposit-i Promotion

Image source: Screengrab of Hong Leong Islamic Bank Fixed Deposit-i Promotion page

Choose Hong Leong Islamic Bank for promotional FD rates as a part of their festive season campaign. For starters, invest in ASNB Variable Priced Funds to enjoy 8.88% p.a. returns on a 2-month Fixed Deposit-i. This offer is valid until 31 July 2018. Here’s a table containing more details of this promotion:

Minimum investment in ASNB

Sales charges ASNB:FD-i Ratio Maximum deposit amount

Promotional FD rates and tenure

RM30,000

5%

1 ASNB : 2 FD-i

Up to 2x ASNB investment (shouldn’t exceed RM2 million)

Two-month FD-i at 8.88% p.a.


What you’ll need to keep in mind

  • To qualify for promotional rates, invest a minimum of RM30,000 in ASNB Variable Priced Funds at Hong Leong Islamic Bank (HLISB) or Hong Leong Bank (HLB) branches
  • The interest that you earn will be credited into your nominated CASA-i account
  • This FD-i will be renewed once it matures for the same tenure at the prevailing board rate
  • Partial withdrawal of this FD-i isn’t allowed

Click here for more information.

Related: All You Wanted to Know About Taking a Loan to Finance ASB Investment

So we’ll suggest that you compare multiple FD options if you’re still dilly-dallying over which bank to choose for your investments. In addition, remember to check the fine print as early withdrawal penalties or other additional charges can jeopardise the high returns on offer.

And if you haven’t already noticed, most of these promotions are due to end within a month’s time. So, make sure that you do your research quickly and choose the right investment tool for maximum financial gains.

Here’s wishing you great returns!

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All information provided in this article/blog, published on this website is strictly for general information purpose only. BBazaar does not provide any warranty about the authenticity and accuracy of such information. BBazaar will not be held responsible for any loss and/or damage that arises or is incurred by use of such information. Please visit the websites of respective banks/financial institutions for more details about products.

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