Where to keep your savings in Malaysia
What will I earn?
Simple interest paid at maturity, with no rollover. Banks publish a range of rates across their terms, so we show what you would earn at the bottom and the top of each bank's range. The exact rate for your term is on the bank's page.
For context, Bank Negara's Overnight Policy Rate (OPR) is 2.75%, set on 3 Sept 2026.
RM210.00
Alliance Bank e-FD at the bottom of its range (2.1%). At the top of its range, usually for a longer term or a promotion, it could earn up to RM245.00.
Fixed deposits, ranked by what you earn
Alliance Bank e-FD
Alliance Bank
RM210.00
or up to RM245.00 at the top of its range
Rate: 2.1% to 2.45% a year
- Minimum: RM500
- Term: 1 to 12 months
- Can be placed online
- PIDM insured
- e-FD placement is online-only (that's fine for most, but not for branch-only customers)
Bank's page (opens the bank's site)Checked 7 Oct 2026
BSN Fixed Deposit
BSN (Bank Simpanan Nasional)
RM185.00
or up to RM215.00 at the top of its range
Rate: 1.85% to 2.15% a year
- Minimum: RM500
- Term: 1 to 60 months
- Branch placement
- PIDM cover not confirmed in our notes
Bank's page (opens the bank's site)Check date not recorded
CIMB Fixed Deposit
CIMB Bank
RM175.00
or up to RM205.00 at the top of its range
Rate: 1.75% to 2.05% a year
- Minimum: RM1,000
- Term: 1 to 12 months
- Can be placed online
- PIDM insured
- Early termination forfeits all interest
Bank's page (opens the bank's site)Checked 7 Oct 2026
Maybank Fixed Deposit
Maybank
RM175.00
or up to RM205.00 at the top of its range
Rate: 1.75% to 2.05% a year
- Minimum: RM1,000
- Term: 1 to 60 months
- Can be placed online
- PIDM insured
- Early withdrawal forfeits interest earned
Bank's page (opens the bank's site)Checked 7 Oct 2026
Maybank Fixed Deposit-i
Maybank
RM175.00
or up to RM205.00 at the top of its range
Rate: 1.75% to 2.05% a year
- Minimum: RM1,000
- Term: 1 to 60 months
- Can be placed online
- PIDM insured
Bank's page (opens the bank's site)Checked 7 Oct 2026
AmBank Fixed Deposit
AmBank
RM165.00
or up to RM200.00 at the top of its range
Rate: 1.65% to 2% a year
- Minimum: RM1,000 (our sources also give RM500; confirm with the bank)
- Term: 1 to 60 months
- Can be placed online
- PIDM insured
Bank's page (opens the bank's site)Checked 7 Oct 2026
Public Bank Fixed Deposit
Public Bank
RM165.00
or up to RM180.00 at the top of its range
Rate: 1.65% to 1.8% a year
- Minimum: RM1,000
- Term: 1 to 60 months
- Can be placed online
- PIDM insured
- Board rates 1.65% (1 month) to 1.80% (7–12 months); longer terms negotiable
Bank's page (opens the bank's site)Check date not recorded
HLB e-FD
Hong Leong Bank
RM160.00
or up to RM190.00 at the top of its range
Rate: 1.6% to 1.9% a year
- Minimum: RM1,000 (our sources also give RM500; confirm with the bank)
- Term: 1 to 60 months
- Can be placed online
- PIDM insured
- Board rates 1.60%–1.90% p.a.
Bank's page (opens the bank's site)Checked 7 Oct 2026
For comparison: the same money in a savings account
Savings rates are variable and can change at any time, and your money stays accessible. Ranked by the base rate, because the higher rate usually needs conditions.
Boost Bank Savings Account
Boost Bank
RM250.00 to RM300.00
Rate: 2.5% to 3% a year
- Minimum: RM1
- Term: No fixed term
- Can be placed online
- PIDM insured
- App-based only, no physical counter
- Higher Special Jar rates are promotional and need partner spending
GX Bank Save
GX Bank (Grab)
RM200.00
Rate: 2% a year
- Minimum: RM20
- Term: No fixed term
- Can be placed online
- PIDM insured
- Grab-linked account — value reduces if you stop using Grab
- Digital bank — no physical branches
- App-based only
BSN Savings Account
BSN (Bank Simpanan Nasional)
RM25.00
Rate: 0.25% a year
- Minimum: RM20
- Term: No fixed term
- Branch placement
- PIDM cover not confirmed in our notes
- RM10 yearly fee if the account goes dormant
Fixed deposit rates
8 fixed deposits, highest bottom rate first, since that is the rate anyone placing money gets. Each rate is the range the bank publishes across its terms. For context, the OPR is 2.75%.
Alliance Bank e-FD
Alliance Bank
2.1% to 2.45%
- Minimum: RM500
- Term: 1 to 12 months
- Can be placed online
- PIDM insured
- e-FD placement is online-only (that's fine for most, but not for branch-only customers)
Bank's page (opens the bank's site)Checked 7 Oct 2026
BSN Fixed Deposit
BSN (Bank Simpanan Nasional)
1.85% to 2.15%
- Minimum: RM500
- Term: 1 to 60 months
- Branch placement
- PIDM cover not confirmed in our notes
Bank's page (opens the bank's site)Check date not recorded
CIMB Fixed Deposit
CIMB Bank
1.75% to 2.05%
- Minimum: RM1,000
- Term: 1 to 12 months
- Can be placed online
- PIDM insured
- Early termination forfeits all interest
Bank's page (opens the bank's site)Checked 7 Oct 2026
Maybank Fixed Deposit
Maybank
1.75% to 2.05%
- Minimum: RM1,000
- Term: 1 to 60 months
- Can be placed online
- PIDM insured
- Early withdrawal forfeits interest earned
Bank's page (opens the bank's site)Checked 7 Oct 2026
Maybank Fixed Deposit-i
Maybank
1.75% to 2.05%
- Minimum: RM1,000
- Term: 1 to 60 months
- Can be placed online
- PIDM insured
Bank's page (opens the bank's site)Checked 7 Oct 2026
AmBank Fixed Deposit
AmBank
1.65% to 2%
- Minimum: RM1,000 (our sources also give RM500; confirm with the bank)
- Term: 1 to 60 months
- Can be placed online
- PIDM insured
Bank's page (opens the bank's site)Checked 7 Oct 2026
Public Bank Fixed Deposit
Public Bank
1.65% to 1.8%
- Minimum: RM1,000
- Term: 1 to 60 months
- Can be placed online
- PIDM insured
- Board rates 1.65% (1 month) to 1.80% (7–12 months); longer terms negotiable
Bank's page (opens the bank's site)Check date not recorded
HLB e-FD
Hong Leong Bank
1.6% to 1.9%
- Minimum: RM1,000 (our sources also give RM500; confirm with the bank)
- Term: 1 to 60 months
- Can be placed online
- PIDM insured
- Board rates 1.60%–1.90% p.a.
Bank's page (opens the bank's site)Checked 7 Oct 2026
6 of 8 rows carry a check date against the bank's own page, . The rest have no check date in our data, so treat their figures with more care. Rates can change without notice; confirm with the bank before you apply.
Savings account rates
Your money stays accessible and the rate can change. Ordered by base rate. A rate shown as a range has a lower base rate and a higher rate that needs conditions; read the catch beside it.
Boost Bank Savings Account
Boost Bank
2.5% to 3%
- Minimum: RM1
- Term: No fixed term
- Can be placed online
- PIDM insured
- App-based only, no physical counter
- Higher Special Jar rates are promotional and need partner spending
Bank's page (opens the bank's site)Check date not recorded
GX Bank Save
GX Bank (Grab)
2%
- Minimum: RM20
- Term: No fixed term
- Can be placed online
- PIDM insured
- Grab-linked account — value reduces if you stop using Grab
- Digital bank — no physical branches
- App-based only
Bank's page (opens the bank's site)Checked 7 Oct 2026
BSN Savings Account
BSN (Bank Simpanan Nasional)
0.25%
- Minimum: RM20
- Term: No fixed term
- Branch placement
- PIDM cover not confirmed in our notes
- RM10 yearly fee if the account goes dormant
Bank's page (opens the bank's site)Check date not recorded
1 of 3 rows carry a check date against the bank's own page, . The rest have no check date in our data, so treat their figures with more care. Rates can change without notice; confirm with the bank before you apply.
Digital banks in Malaysia
A digital bank is a bank with no branches: you open the account and move money in a phone app. Bank Negara Malaysia announced five licences on 29 April 2022, three for conventional banks and two for Islamic banks. They are licensed banks, not e-wallets.
We do not print rates for a bank unless we have checked them against its own page. GX Bank and Boost Bank are in the savings table above with their checked rates. For the others, go to the bank's own page for today's rate and its conditions.
GX Bank
Consortium led by GXS Bank Pte. Ltd. and Kuok Brothers Sdn. Bhd.
Boost Bank
Consortium of Boost Holdings Sdn. Bhd. and RHB Bank Berhad
Ryt Bank
Consortium led by Sea Limited and YTL Digital Capital Sdn Bhd
AEON Bank
Consortium of AEON Financial Service Co., Ltd., AEON Credit Service (M) Berhad and MoneyLion Inc.
KAF Digital Bank
Consortium led by KAF Investment Bank Sdn. Bhd.
How it works
Fixed deposit, savings account, digital bank: which pocket for which money
A fixed deposit is for money you will not need until the term ends. In return for the lock-in, you get a rate agreed up front. A savings account is for money you may need this month, and you accept a variable rate for the freedom. A digital bank is just a bank without branches, so it can sit in either pocket; today the ones in our tables are savings accounts. A sensible split is an emergency pot in savings and the rest in deposits that match when you will need it.
How promo rates work
A headline rate often applies only on conditions: a minimum balance, a particular term, money that is new to the bank, a cap on the amount, or spending with the bank's partner. That is why every row above prints the minimum and the catch next to the rate. If the condition does not match your situation, the rate does not apply to you. Where a bank's page gives a condition we have not captured, the bank's page wins, which is why each row links to it.
PIDM deposit protection
PIDM protects deposits up to RM250,000 per depositor, per member bank. Islamic and conventional deposits are protected separately, each up to RM250,000. The limit is per bank, so spreading a large sum across different member banks protects more of it. PIDM explains the system.
Islamic term deposits
An Islamic deposit pays a profit rate, not an interest rate, under Shariah contracts. For the purpose of working out what you earn, a quoted profit rate is read the same way as an interest rate. Confirm with the bank whether the profit rate is indicative or fixed for your term.
What the OPR does to deposit rates
Bank Negara sets the Overnight Policy Rate (OPR) to guide borrowing costs across the economy. It stood at 2.75% at the decision on 3 Sept 2026. Banks set their own deposit rates and do not have to follow it, but when the OPR rises or falls, deposit rates tend to follow in the same direction over time. A fixed deposit locks in the rate on the day you place it, so a rate cut later does not touch a deposit you already hold, and a rate rise does not help it.
Questions people ask
+How much interest does RM10,000 earn in a 12-month fixed deposit?
Simple interest on RM10,000 for 12 months is RM160.00 at 1.6% (the lowest rate in our table, HLB e-FD) and RM245.00 at 2.45% (the highest, Alliance Bank e-FD). The sum is amount x rate x months / 12. The rate you get depends on the term you pick, and some banks only offer the top of their range on longer or larger deposits, so check the bank's page.
+Is my money protected if the bank fails?
Deposits at PIDM member banks are protected up to RM250,000 per depositor, per member bank. Islamic and conventional deposits at the same bank each get their own RM250,000 limit. The limit applies per bank, not per account, so three accounts at one bank share one limit. Check that your bank is a PIDM member on pidm.gov.my before you deposit.
+Should I choose a fixed deposit or a savings account?
A fixed deposit locks your money for a term in return for a rate agreed at the start. A savings account lets you take money out any time, but the rate is variable and the bank can change it. Put money you will need soon in savings, and money you will not touch for the term in a fixed deposit. Use the tool above to see what the lock-in is worth in ringgit on your amount.
+What is the OPR, and does it change my rate?
The OPR is the Overnight Policy Rate that Bank Negara sets. It was 2.75% at the decision on 3 Sept 2026. Banks set their own deposit rates, but they take the OPR as their benchmark, so deposit rates tend to move in the same direction when it changes. Today, none of the 8 fixed deposits in our table pays above 2.75% at the top of its range.
+Can I take money out of a fixed deposit early?
Usually only by breaking the deposit, and the penalty is set by the bank. Our notes say early withdrawal forfeits interest at: CIMB Fixed Deposit, Maybank Fixed Deposit. Read the bank's early-withdrawal terms on its page before you place the deposit.
+Is an Islamic fixed deposit different?
An Islamic term deposit pays a profit rate instead of an interest rate, and it is structured under Shariah contracts. In this page Maybank Fixed Deposit-i is marked Islamic, and the earnings tool treats the profit rate exactly as it treats an interest rate. Islamic and conventional deposits have separate PIDM limits.
+Are digital banks safe?
The five digital banks are licensed by Bank Negara Malaysia as banks. Whether a particular bank's deposits are covered by PIDM is shown on PIDM's own pages, so check there before you move a large sum. Our notes record GX Bank and Boost Bank savings as PIDM insured.
Where the figures come from
- Bank Negara Malaysia: Overnight Policy Rate (public API) · read daily
- PIDM: how deposits are protected
- Bank Negara Malaysia: five successful applicants for the digital bank licences · announced 29 April 2022
- Bank Negara Malaysia: GX Bank Berhad
- Bank Negara Malaysia: Boost Bank Berhad
- Bank Negara Malaysia: YTL Digital Bank Berhad (Ryt Bank)
- Bank Negara Malaysia: AEON Bank (M) Berhad
This is general information to help you compare, not financial advice. theringgit is not paid by any bank on this page, and the order of every table is set by the numbers shown.