The latest FD rates from Maybank (effective from 7 November)
Maybank has released the most recent fixed deposit rates!
The fixed deposit interest rate will be raised beginning November 7, 2022 (Monday), according to information on Maybank’s official website. This is consistent with Bank Negara’s November 3 announcement to raise the overnight policy rate (OPR).
The 1-month fixed deposit rate was increased from 2.20% to 2.45% p.a. The rate on 2-month fixed deposits has also been raised from 2.40% to 2.65% p.a. The 3-month fixed deposit rate has been raised from 2.45% per annum to 2.70% per annum.
In addition, the 6-month fixed deposit rate was raised from 2.55% to 2.80% p.a. The nine-month fixed deposit rate has been increased from 2.55% to 2.80% per annum. 12-month fixed deposits have also been increased from 2.60% to 2.85% p.a.
Fixed deposit interest is typically calculated monthly. The interest rate on fixed deposits is determined by the number of days in the deposit. For example, if you deposit RM5,000 for three months, the average monthly interest is RM11.25. It was RM10.21 before the rate increase, which means a RM1.04 increase.
