With the National Bank announcing a 0.25% interest rate hike on July 6, banks in the country have also announced increases in time deposit rates and higher interest rate time deposit offers.
CIMB, AmBank and RHB have all introduced time deposit offers which can be deposited through Internet Banking, with AmBank offering up to 3.20%p.a. time deposit offers.
1. CIMB
Date: July 18, 2022 – September 15, 2022
Interest rate.
3 months – 2.40%p.a.
6 months – 2.60%p.a.
12 months – 2.85%p.a.
Minimum Deposit: RM5,000
Conditions: Deposit must be made through CIMB Clicks web version.
2. AmBank
Date: July 18 – August 31, 2022
Deposit Period: 12 months – 3.20%p.a.
Minimum deposit amount: RM10,000
Conditions: Must be transferred through AmOnline by FPX.
3. RHB
Date: June 27 – August 31, 2022
Interest Rate.
9 months – 2.55%p.a. (eFD)
9 months – 2.50%p.a. (over the counter)
Minimum Deposit: RM10,000
Conditions: Fresh Fund only, eFD must be transferred from other banks by FPX.
