Fixed Deposits (FD) and Fixed Deposit-i are widely trusted investment options in Malaysia, offering a secure way for people to grow their savings.
These choices have become popular because they are safe, reliable, and provide consistent earnings.
Let’s look at these options and understand their differences, along with the current FD rates in January 2025.
Your Guide to Fixed Deposits + Latest FD Rates
What is Fixed Deposit (FD) and Fixed Deposit-i (FD-i)?
What is Fixed Deposit (FD)?
Fixed deposits, commonly known as FDs, are traditional savings accounts offered by banks and financial institutions.
They function on a straightforward principle: you deposit a specific sum of money for a predetermined period, ranging from a few months to several years.
During this tenure, the deposited amount accrues interest at a fixed rate, which is typically higher than in regular savings accounts.
The interest rate remains constant throughout the agreed-upon period, providing investors with stability and predictability in their earnings.
What is Fixed Deposit-i (FD-i)?
Fixed Deposit-i, often referred to as Islamic Fixed Deposits, follows the principles of Islamic finance. These deposits are Shariah-compliant, adhering to Islamic laws that prohibit earning interest (Riba).
Instead of earning interest, investors in Fixed Deposit-i accounts enter into a Mudarabah or Wakalah contract with the bank.
Under Mudarabah, the bank pools funds from investors and engages in Shariah-compliant activities.
Profits generated from these activities are shared between the bank and the investors based on agreed-upon ratios.
Key Differences between FD and FD-i
| FD | FD-i | |
| Interest vs. profit-sharing | Earn a fixed interest rate on your deposit | Using a profit-sharing model |
| Shariah Compliance | Operate on interest, which might not align with Shariah principles | Shariah-compliant |
| Flexibility in Tenures | A variety of tenures, accommodating both short-term and long-term investment preferences | Provides diverse tenure options, allowing you to align your investment with your specific goals and needs |
| Investment Profit Allocation | Earnings are based on fixed interest rates | Operates on profit-sharing; returns fluctuate based on profits from Shariah-compliant activities |
Latest Fixed Deposit/FD rates for January 2025
1. Alliance Bank
Offer: Alliance Bank Fixed Deposit: Personal Welcome Offer
Interest Rates: 3.80% per annum for 6 months
Minimum Deposit: RM10,000
Promotion Period: 1 October 2024 – 31 March 2025
Offer details and conditions: Exclusively for Alliance Bank new account holders; must be deposited in 30 days.
2. CIMB Bank
Offer: CIMB eFixed Deposit-i (eFD-i)
Interest Rates:
| Interest rate (%) | Lock-in period |
| 3.45 | 3 months |
| 3.70 | 6 months |
Minimum deposit: RM1,000
Promotion Period: 1 October 2024 – 15 January 2025
Preferential Terms: Users must use CIMB Clicks Website or CIMB OCTO APP, and transfer money from other banks to CIMB Bank accounts by FPX.
3. RHB Bank
Offer: RHB Term Deposit & e‑Term Deposit
Interest Rates: 3.70% per annum for 6 months *for all RHB Customer
| Eligible Customers | Tenure | Rate | Minimum Deposit |
| All RHB Customers | 6 months | 3.70% | RM 5,000 |
| RHB Premier Customers | 6 months | 3.80% | RM 20,000 |
Promotion Period: 3 January 2025 – 28 February 2025
Preferential Terms: Users must use HLB Connect Online or HLB Connect APP, and transfer money from other banks to Hong Leong Bank accounts by FPX.
4. Public Bank
Offer: PB RCB Special Fixed Deposit / Term Deposit-i
Interest rates:
| Lock-in period | Fixed deposit rate |
|---|---|
| 3 months | 3.60% |
| 6 months | 3.70% |
| 9 months | 3.55% |
| 12 months | 3.60% |
Minimum deposit: RM 5,000
Promotion period: 1 January 2025 – 31 March 2025
5. OCBC Bank
| Fixed Deposit Rate | Lock Up Period |
|---|---|
| 2.60% | 6 months |
Minimum deposit: RM1,000
Promotion period: 2 January 2025 – 31 January 2025
Offer details and conditions : Users must go to the OCBC Bank counter to transfer money from other banks to the OCBC Bank account in the form of ‘Fresh Funds’. Moreover, the deposit must be completed within 7 days.
6. BSN
Offer: BSN Term Deposit-i with BSN SSP Platinum
Interest rate:
| BSN Term Deposit-i | BSN SSP Platinum | Placement ratio | Lock-in period |
| 5.50% per annum | 0.01% per annum | 70%:30% | 6 months |
Minimum deposit: RM5,000
Offer period: 1 October 2024 – 31 December 2024
Offer Details & Conditions: Minimum placement amount is only for ‘New Funds”. Open to new and existing Bank Simpanan Nasional (BSN) customers.
7. Maybank
Offer: Maybank e-Islamic Fixed Deposit-i (eIFD-i)
Interest Rates:
| Promo Rates | Tenure |
|---|---|
| 3.70% | 6 months |
| 3.65% | 3 months |
Minimum Deposit: RM1,000
Promotion Period: 28 August 2024 – 31 December 2024
Offer details and conditions: Users must make eFD placement via the Maybank2U website.
Finding the best FD rates in Malaysia involves careful consideration. As a potential investor, focus on the duration, minimum deposit, and any special terms each bank offers.
By understanding these details, you can make a smart investment choice tailored to your needs. Stay informed, compare options, and choose wisely to maximize your earnings!
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