Maybank has increased the interest rate on fixed deposits, and depositors can now enjoy higher interest rates on their deposits!
According to the official website of Maybank, the interest rate of Fixed Deposit will be increased from May 13, 2022, and depositors can enjoy an additional 0.25% interest rate on their deposits.
Previously, 1-month fixed deposits were only entitled to 1.50% p.a., while from May 13 they will be entitled to 1.75% p.a. The interest rate for 3-month fixed deposits has also been increased to 1.95% p.a. from 1.75% p.a. previously.
As for fixed deposits of 6 months, they are entitled to 2.05% p.a. and 2.10% p.a. for 12 months.
It is expected that the National Bank will raise the interest rate twice in the second half of 2022, therefore, the interest rate of time deposit in domestic banks should also increase twice.
It is recommended to place short-term fixed deposits, such as 1 month, 3 months or 6 months, so that you can enjoy higher interest rates when the banks increase their time deposit rates first.
