Fixed Deposit Rates from Maybank, Public Bank, Ambank, RHB, and CIMB
The interest rate on fixed deposits has increased at a number of domestic banks. Here, we present the most recent fixed deposit interest rates from five of the biggest domestic banks.
On July 6, the Bank Negara stated that the Overnight Policy Rate (OPR) will increase by 25 basis points. Domestic banks increased interest rates on financial goods and wealth management tools at a similar pace. The rate on term deposits was also increased by roughly 25 basis points, or 0.25 percent.
The rate for a one-month fixed deposit is currently between 1.90 and 2.00 percent per annum, while rates for three months are 2.20 percent per annum, six months are 2.30 percent per annum, and twelve months are 2.35 percent per annum.
It is advised that you select a promotional fixed deposit if you wish to make a fixed deposit because they may offer a greater interest rate. Because Bank Negara may increase interest rates in September or November, when the fixed deposit rate may be raised once again, you can also choose short-term fixed deposits temporarily.
Let’s examine the fixed deposit rates offered by the top 5 domestic banks.
Maybank | Effective from 8th July 2022
Public Bank | Effective from 8th July 2022
RHB | Effective from 13th July 2022
CIMB | Effective from 13th July 2022
Am Bank | Effective from 14th July 2022
