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

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4 Ongoing Fixed Deposit Promotions 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 being 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 wealth.

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 still be well-advised to check out all the top options 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 5 great fixed deposit promotions (in no particular order) which are currently running. So, hurry up, and make the most of them.

1. Public Bank eFixed Deposit offer: Promotional interest rates of up to 3.90% p.a.

This fixed deposit is available for all new and existing PBe users, and sole proprietors who have conventional CASA and registered for PBe. Investing in this fixed deposit fetches you interest rates ranging from 3.40% p.a. to 3.90% p.a., depending on the tenure you choose.

The interest you accrue from this fixed deposit will be credited to your CASA on monthly basis. This offer is valid until 31 December 2018. More details on the promotional rates you can expect below:

Deposit Tenure Promotional Interest Rates
3 months 3.40% p.a.
6 months 3.45% p.a.
9 months 3.50% p.a.
12 months 3.80% p.a.
15 months 3.90% p.a.

What you’ll need to keep in mind

  • The minimum placement amount is RM5,000
  • The promotional interest rate is applicable for one cycle only
  • You cannot partially withdraw the placement amount in your PB fixed deposit
  • This fixed deposit is eligible for protection by Perbadanan Insurans Deposit Malaysia (PIDM)

Click here for more information.

Related: How Investment-Ready Are You?

2. RHB Fixed Deposit: Make the most of promotional interest rates that range up to 4.35% p.a.

Ensure your child’s dreams are secure with the RHB Fixed Deposit promotion. Investing in this lets you save money and fetches you high returns with promotional rates of up to 4.35% p.a. You have the option of choosing any one of the two tenures available.

This promotional offer is only valid till 31 December 2018. Check out the table below for a brief summary of this fixed deposit.

Eligible products Mode of application Minimum deposit amount Deposit period Promotional IRates
FD/CMD-i Over-the-counter RM10,000 13 months 4.35% p.a.
FD/CMD-i Over-the-counter RM10,000 5 months 4.03% p.a.

What you’ll need to keep in mind

  • You have to open an RHB Fixed Deposit or Commodity Murabahah Deposit-i Account
  • The maximum amount you can place in the FD/CMD-i account is RM10 million
  • This offer is available for all new and existing RHB customers
  • The interest/profit you earn will be paid upon maturity and will be credited to your active CASA account
  • Partial withdrawal is not allowed

Click here for more information.

Related: Understanding Investment Risk: 4 Important Things to Know

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

3. HSBC Fixed Deposit: Enjoy promotional interest rates of up to 4.28% p.a.

If you open a Time Deposit (TMD) or Term Deposit-i (TD-i) with the HSBC, you get access to great promotional rates. This promotion has two offers—Offer A and Offer B. For each of these offers, you can get promotional rates of up to 4.28% p.a.

You will have to deposit a minimum of RM100,000 for a period of six months. This promotion is valid till 31 December 2018. Take a look at the table below for additional details:

Type of offer Minimum deposit amount Maximum deposit amount Tenure Promotional rate
Offer A RM100,000 RM500,000 6 months 4.00% p.a.
Offer B RM100,000 RM500,000 6 months 4.28% p.a.

What you’ll need to keep in mind

  • You can get benefits of either Offer A or Offer B, and not both
  • You can only place fresh funds in this deposit
  • You have to make the placement at any one of the HSBC Bank/HSBC Amanah Bank branches
  • If you transfer funds to your HSBC Premier Account, you have to place this amount in the deposit within 7 days
  • No interest will be paid if you uplift the deposit within 3 months
  • You will receive half of the actual promotional rate for the completed number of months if you uplift your deposit after 3 months and before maturity
  • You cannot partially withdraw your placement amount
  • This deposit will automatically get renewed for another cycle of 6 months with the prevailing board rates unless the customer instructs otherwise

Click here for more information.

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

4. Bank Islam Term Deposit-i: Take advantage of rates as high as 7% p.a.

To enjoy the promotional benefits, you will have to place a minimum of RM50,000 in a Bank Islam  Term Deposit-i Tawarruq Account for 3 months.

The deposit will automatically renew for seven cycles till it completes 24 months. This promotion by Bank Islam is ongoing and is valid until 31 December 2018. More details of this offer in the table below:

Rollover count Profit rate
Start 3.80% p.a.
1 3.90% p.a.
2 4.20% p.a.
3 4.50% p.a.
4 4.55% p.a.
5 4.60% p.a.
6 4.65% p.a.
7 7.00% p.a.

What you’ll need to keep in mind

  • You cannot partially withdraw your placement amount with this campaign
  • You can pledge your placement amount as a collateral to get any credit facility
  • You have to deposit the money in the TDT-i Account in the form of fresh funds
  • You have to pay the Ibra’/rebate if you make an early termination
  • Withdrawing funds before maturity results in not accruing any profit

Click here for more information.

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!

You may also like some of our other investment-related blogs:

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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