Fixed deposits (FD) are 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, unit trusts and stocks gather better returns than fixed deposits, but they depend completely on market performance (hence making them riskier) and at times demand the 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.
But there’s no reason to feel demoralised! We bring forth 5 great fixed deposit promotional offers which are currently running. So, hurry up!
1. OCBC 12-month FD promotion
From 5 March 2018 onwards, every 12-month FD placement with the OCBC Bank will give you a return at the rate of 4.20% p.a. The previous rate associated with OCBC fixed deposit stood at 3.25% p.a.
Having said that, you will have to keep the following points in mind in order to get the benefits of OCBC’s FD promotion:
- The promotion is valid only for the placements made any time from 5 March 2018 to 30 June 2018.
- Premature withdrawals made before 1 January 2019 will not earn you any interest.
- The promotion is valid only for a 12-month FD placement.
- The minimum amount to be deposited to enjoy the promotional rate is RM10,000.
- The maximum limit of funds that can be invested in this facility is RM10 million.
- You are required to invest fresh funds in order to enjoy this promotional rate.
2. Hong Leong Bank Pay & Save 8-month FD
You can enjoy higher returns on your FD placement with the Hong Leong Bank via Pay & Save account. In just 3 simple steps, you can enhance your returns with HLB FD. This is an ongoing promotion and is valid only till 22 June 2018.
In order to earn a higher rate of interest, you need to follow the steps given below:
- Open a Pay & Save account with Hong Leong Bank with a minimum deposit amount of RM1,000.
- Link a minimum of 2 credit cards or loans with a standing instruction of at least RM100 within one month from the account opening date.
- You will be contacted by the bank through an SMS if you are entitled to the promotional FD rate.
The promotional rate and other details are mentioned in the table below:
|FD tenure||Minimum deposit amount||Maximum deposit amount||Promotional rate|
3. HSBC Advance – special rate time deposit offer
The HSBC is offering you a preferential FD rate of 5% p.a. for a 3-month fixed deposit placement. All you need to do to avail the benefits of this promotional offer is to open an HSBC Advance account and deposit a minimum of RM5,000 in the fixed deposit scheme.
Keep in mind:
- The maximum deposit amount for this facility is RM30,000.
- You are required to invest fresh funds in the facility.
- The promotion is valid only until 30 June 2018.
4. OCBC Al-Amin FD-i promotion
It’s time to put your hard-earned money to proper use with OCBC Al-Amin FD-i promotional offer. The facility helps you maximise your savings by giving you higher returns via the promotional FD rate of 4.20% p.a. with your 12-month fixed deposit placement. You can get better returns on your investment given that you do not opt for a premature withdrawal on this facility before 1 January 2019.
Let’s take a closer look at this promotional offer:
- Tenure: 12 months.
- Promotional rate: 4.20% p.a.
- Minimum deposit amount: RM10,000.
- Maximum deposit amount: RM10 million.
- Validity: Until 30 June 2018.
- Funds required: Fresh funds.
5. RHB Bancassurance fixed deposit campaign
RHB brings to you a way to provide your family a secure future and boost your savings with the help of a single plan.
You can enjoy a higher interest rate range with your FD with RHB by opting for RHB Bancassurance life insurance with your FD. With equal contributions to both FD and life insurance plan, you can enjoy returns at a rate of as high as 7.88% p.a. You can enjoy these rates until 30 June 2018.
For more details, refer to the table below:
|Life insurance premium (Minimum annual first-year premium)||FD amount||
|RM5,000||Maximum of RM20,000 at a ratio of 1:1||7.88% p.a.|
|6 months||RM5,000||Maximum of RM30,000 at a ratio of 1:1||
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