According to the official website of Maybank, the interest rate on time deposits will be increased from Monday 12 September 2022. This is in line with the increase in the Overnight Policy Rate (OPR) announced by the National Bank on 8 September.
1-month time deposit rate is being increased to 2.20% p.a. from the previous 1.95%. 2-month time deposit rate is also being increased to 2.40% p.a. from 2.15%. 3-month time deposit rate is being increased to 2.45% p.a. from 2.20% p.a.
If you deposit RM5,000 for 3 months, the average interest rate for 1 month is RM10.21. Before the interest rate increase, the interest rate was RM9.167, an increase of about RM1.04.
