Maybank’s time deposit rate will be increased on September 12!
Maybank’s time deposit and lending rates will be increased from September 12, according to a news release from Maybank.
Maybank’s 1-month time deposit rate is now 1.95% p.a., while the 3-month rate is 2.20%, 6-month 2.30% and 12-month 2.35%. Each of these time deposit rates will increase by 0.25% after the National Bank raises interest rates by 0.25%.
Do you know how much extra interest you will get with the 0.25% increase in time deposit rate? Here’s an example of depositing RM10,000. If you deposit RM20,000, the total additional interest you will get is around RM4.16.
If you are planning to deposit Maybank’s time deposit, you can wait until September 12 when Maybank announces the time deposit rate.
