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 February 2025.

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

Latest Fixed Deposit/FD rates for February 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:

Minimum deposit: RM1,000

Promotion Period: 16 January 2025 – 24 March 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

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:

Minimum deposit: RM 5,000

Promotion period: 1 January 2025 – 31 March 2025

5. OCBC Bank

Minimum deposit: RM1,000

Promotion period: 23 January 2025 – 2 March 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. Maybank

Offer: Maybank e-Islamic Fixed Deposit-i (eIFD-i)

Interest Rates:

Minimum Deposit: RM1,000

Promotion Period: 15 January 2025 – 15 February 2025

Offer details and conditions: Users must make eFD placement via the Maybank2U website.

7. BSN

Offer: BSN Term Deposit-i with BSN SSP Platinum

Interest rate:

Minimum deposit: RM5,000

Offer period: 16 January 2025 – 15 February 2025

Offer Details & Conditions: Minimum placement amount is only for ‘New Funds”. Open to new and existing Bank Simpanan Nasional (BSN) customers.

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!

Version: CN, BM

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