5 Great Fixed Deposit Promotions in Malaysia You Cannot Afford to Miss!

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5 Great Fixed Deposit Promotions in Malaysia You Cannot Afford to Miss!

Fixed deposits (FD) are still extremely popular in Malaysia mainly owing to their low-risk nature while fetching higher returns than a normal savings bank account.

It’s also a fact that other investment tools like mutual funds and stocks gather better returns than fixed deposits, but they depend completely on market performance (hence making them riskier) and demand hands-on involvement of the investor.

A safe way to maximise returns without increasing the risk factor is to invest in a fixed deposit when banks offer promotional offers. These promotions may include special interest rates, an opportunity to win cash prizes, among other perks.

On many occasions, we are simply not aware of these temporary promotional offers and miss out on opportunities to amplify our fund’s value or win exciting prizes.

But there’s no reason to feel demoralised! We bring forth 5 such fixed deposit promotional offers which are currently running. So, hurry up!

1. Maybank Islamic FD promotion, February-March, 2018

A grab from the Maybank Islamic FD promotion page

Maybank Islamic is currently running a cash prize contest campaign on two of its fixed deposit platforms — Islamic Fixed Deposit-i and Prosperous Now! Account-i.

By depositing RM10,000 or above in a single certificate in any of the two platforms, you qualify to enter the campaign. The tenure for this deposit can be 6 months or a year.

Your deposit amount will determine the number of entries you gain into the contest. For example, if you deposit a sum of RM30,000, you gain 3 entries to the contest. The first phase of the campaign has just ended, but the second phase is up and expires on 31 March 2018.

Now, you must be curious to know about the benefits of enrolling in the contest. Here, is a list of cash prizes you could win:

  • Grand Prize: RM15,000
  • First Prize: RM10,000
  • Second Prize: RM5,000
  • 10 Consolation Prizes: RM500

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

2. Affin Bank FD promotion, February 2018

Affin Bank is currently running a promotion on its fixed deposits which can fetch you a maximum interest rate of 5.18% p.a. Both existing and new customers are eligible to reap the benefits of this promotion.

The minimum amount you need to deposit is RM10,000, consisting of completely fresh funds or a top up to an existing deposit. Offer is valid until 28 February 2018.

Here’s a table detailing the allowed proportion to combine fresh funds with existing funds:

Existing funds

New funds that can be added

< RM100,000

10%

RM100,000-RM499,999.99

20%

> RM500,000

30%


However, the interest will be calculated only on the fresh fund you add. You can choose a package out of the available options that are listed below:

Package Interest rate (% p.a.) Deposit tenure (months) Conditions applicable
Package 1 4.38 15 90% goes to FD and 10% goes to current account/savings account
4.48 18
4.58 24
Package 2 5 9 Invest in FD with ASNB Variable Funds, in 1:1 ratio
5.08 12
5.18 15
Package 3 5 9 Invest in FD with Unit Trust, either in 2:1 or 1:1 ratio

3. Hong Leong Bank FD promotion, February 2018

Hong Leong Bank is also offering a special interest rate of 4.30% p.a. on a 12-month fixed deposit. This festive season special offer covers four FD categories for you to choose from — Conventional FD, Senior Savers Flexi FD, Priority Banking Premium FD, and Junior FD.

And if you feel 12 months is too long a period to park your money, go for only 6 months, which will still get you an interest of 4.10% p.a. You need to deposit anywhere between RM10,000 to RM2 million to enjoy the special interest rates.

But hurry, the offer ends on 28 February 2018.

Related: ASB Investment FAQ: How to Buy Units, How Lucrative Are They?

4. RHB Bank FD promotion, February-March, 2018

A screen grab of RHB’s FD promotion page

Get both savings and protection with this FD promotion offered by the RHB Bank. You can earn a high interest of 7.88% p.a. on a 3-month tenure FD, and 4.50% p.a. on a 6-month tenure FD.

The invested amount should be less than RM20,000 and RM30,000 for 3 and 6 months deposits, respectively.

Along with the fixed deposit, you will also get the benefits of a life insurance policy by RHB Bancassurance for an annual premium of RM5,000 for the first year.

The offer is available until 31 March 2018.

Related: 6 Common Biases That Hurt Your Investment Decisions and How to Overcome Them

5. AmBank FD promotion, February-March, 2018

A screen grab of AmBank’s FD promotion page

AmBank is offering you a new way to celebrate the upcoming Chinese New Year. If you open an eFixed Deposit Account or eTerm Deposit-i Account with AmBank before 15 March 2018 for an 8-month tenure, you can earn interest of 4.03% p.a on your deposits.

These are some of the most exciting ongoing promotions that’ll boost your fixed deposits. So put in some research before you park your money, and look for the best offers that’ll give maximum returns on your money. Here’s wishing you many happy 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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