Maybank, Public Bank and RHB have all announced increases in their time deposit rates with effect from 12 September, with Maybank offering the highest rates.
Maybank’s 1-month time deposit rate is 2.20%, compared to Public Bank’s 2.10% and RHB’s 2.15%. For 2-month time deposits, Maybank offers 2.40%, Public Bank and RHB offer 2.25%.
For 3-month time deposits, Maybank offers 2.45%, Public Bank and RHB offer 2.30%. 6-month time deposits, Maybank offers 2.55%, Public Bank offers 2.45% and RHB offers 2.50%.
For 12-month time deposits, Maybank and Public Bank offer 2.60% and RHB offers 2.55%.
As the banks increase the interest rates on regular time deposits, it is believed that the interest rates on the Promotional Fixed Deposit (PFD) offer that will be introduced soon will also increase.
