Last updated: 1 May 2026

How to find the best FD rate in Malaysia right now

The highest headline rate is not always the best rate for you. HSBC Premier offers 7.88% — but requires RM20,000 minimum and Premier banking status. AmBank and MBSB offer 3.68–3.75% with just RM1,000 and no special account required. This page helps you find the right rate for your deposit size, tenure and bank relationship.

Highest FD Rates Malaysia — May 2026 Snapshot

All promotional rates currently active as of April 27, 2026. Sorted by headline rate. “Open to All” means no special account or minimum relationship required.

Bank	Best Rate (p.a.)	Tenure	Min Deposit	Campaign	Ends	Eligibility
HSBC Premier	7.88%	3 Months	RM20,000	Premier Bundle	30 Jun 2026	Premier Required
UOB Bank	4.30%	6 Months	RM100,000	UOB FD Plus 4.3%	30 Jun 2026	Privilege Required
Standard Chartered Priority	4.28%	6 Months	RM100,000	Wealth Saver-i	30 Jun 2026	Priority Required
OCBC Bank	4.28%	6 Months	RM100,000	OCBC Deposit Drive	31 May 2026	Wealth Bundle
Alliance Bank	4.08%	6 Months	RM10,000	Bukit Mertajam FD Promo	30 Sep 2026	Branch Visit Required
MBSB Bank	3.75%	12 Months	RM1,000	MBSB Term Deposit-i	31 May 2026	Open to All
AmBank	3.68%	12 Months	RM1,000	AmBank Raya e-FD	31 May 2026	Open to All
Affin Bank	3.68%	11 Months	RM30,000	Affin FD Smart Pricing	7 May 2026	Ending Soon
Standard Chartered	3.60%	12 Months	RM50,000	Standard Chartered e-FD	30 Jun 2026	Fresh Funds Required
CIMB Bank	3.60%	6 Months	RM1,000	CIMB Raya e-FD	30 Apr 2026	Ending Soon
Maybank	3.55%	6 / 12 Months	RM1,000	Maybank e-Islamic FD	30 Apr 2026	Open to All
Public Bank	3.55%	6 Months	RM5,000	Public Bank e-FD	30 Jun 2026	Open to All

Best FD Rate by Deposit Size

Not everyone has RM100,000 to place. Here is the best available rate for each realistic deposit tier:

Under RM5,000

3.75%

MBSB Bank · 12 Months

Min RM1,000 · Open to All · No app needed

RM5,000 – RM20,000

4.08%

Alliance Bank · 6 Months

Min RM10,000 · Requires branch visit · Fresh funds

RM20,000+

7.88%

HSBC Premier · 3 Months

Min RM20,000 · Premier account required

RM50,000 – RM100,000

4.28%

Standard Chartered Priority · 6M

Min RM100,000 · Priority Banking required

Best Rate, No Conditions

3.75%

MBSB Bank · 12 Months

RM1,000 minimum · Fully online · No special status

Best Islamic FD

3.75%

MBSB Term Deposit-i · 12M

Shariah-compliant · PIDM protected · RM1,000 min

Best FD Rate by Tenure

1–3 Months (Short Term)

Best available: CIMB 3.45% (3M, RM1,000) or HSBC Premier 7.88% (3M, RM20,000 Premier). For short-term parking without conditions, CIMB Raya e-FD at 3.45% for 3 months is hard to beat before April 30 expiry.

6 Months

Best standard rate: Alliance Bank 4.08% (RM10,000, branch visit). Best no-conditions rate: CIMB 3.60% or Public Bank 3.55%. If you can make a branch visit, Alliance is clear winner at this tenure.

9–12 Months (Long Term)

Best overall: MBSB 3.75% or AmBank 3.68%, both at RM1,000 minimum, fully online, open to all. Locking in now before May 31 captures the promotional rate before potential post-Raya resets.

Flexible / Short Notice

Standard board rates hover at 1.75–2.00% for most banks. If you need liquidity, consider CIMB or Maybank savings accounts or money market funds as an alternative to locking funds in FD.

Key Insights for May 2026

⚠️ April 30 cliff — CIMB and Maybank promos ending

CIMB Raya e-FD (3.60%) and Maybank e-Islamic FD (3.55%) both expire on April 30, 2026 — three days away. If you are considering either bank, place before month-end or the rollover rate drops to board rate (around 1.95%). Historically Raya campaigns do not get extended.

✅ PIDM protection — what you need to know

All conventional FDs and Islamic Investment Accounts at licensed Malaysian banks are protected by PIDM up to RM250,000 per depositor per bank. If you hold both conventional and Islamic FD at the same bank, each is insured separately — up to RM500,000 total. For deposits above RM250,000, spreading across two banks fully protects your principal.

📊 Why the headline rate is not always the real rate

Banks advertise their highest tier. HSBC Premier at 7.88% requires Premier banking (typically RM200,000 in AUM or RM5,000 monthly salary credit). UOB 4.30% requires Privilege Banking. The actual best rate available to a regular Malaysian with RM5,000 to place is currently 4.08% (Alliance Bank, branch visit required) or 3.75% (MBSB, fully online, zero conditions).

🔁 Auto-renewal trap

Most banks auto-renew your FD at the prevailing board rate — not the promotional rate — when a campaign expires. A 3.60% promo FD that auto-renews on May 1 will roll over at roughly 1.95%. Set a calendar reminder before your maturity date to either withdraw or place at a new promotional rate manually.

Frequently Asked Questions

What is the highest FD rate in Malaysia right now?

The highest promotional FD rate currently available is HSBC Premier at 7.88% p.a. for 3 months, but this requires a minimum RM20,000 placement and HSBC Premier account status. For depositors without premier status, the highest accessible rate is Alliance Bank at 4.08% (6 months, RM10,000 minimum, branch visit required) or MBSB at 3.75% (12 months, RM1,000 minimum, fully online, open to all). Rates are updated daily on rates.my.

Which bank has the best FD rate with no minimum conditions?

As of April 2026, MBSB Bank offers 3.75% p.a. for 12 months with a minimum deposit of just RM1,000, no special account required, and no branch visit needed. AmBank also offers 3.68% for 12 months under the same open conditions. Both campaigns run until May 31, 2026.

Is FD interest taxable in Malaysia?

No. Fixed deposit interest income for individual Malaysian tax residents is fully exempt from income tax under Schedule 6 of the Income Tax Act 1967. This applies to both conventional FD interest and Islamic FD profit returns. Corporate depositors are taxed differently.

What happens if I withdraw my FD early?

Early or premature withdrawal of a fixed deposit in Malaysia typically results in forfeiture of all accrued interest for the placement period. Some banks may offer partial interest at a reduced penalty rate, but this varies by institution. You should only lock funds in FD that you are confident you will not need before the maturity date.

Is FD safe in Malaysia? What is PIDM?

Fixed deposits at all licensed banks in Malaysia are protected by PIDM (Perbadanan Insurans Deposit Malaysia) up to RM250,000 per depositor per bank. Conventional FD and Islamic Investment Account deposits are insured separately — meaning you can be protected up to RM500,000 at a single bank if you hold both types. PIDM protection applies automatically with no registration required.

Should I choose a 6-month or 12-month FD in 2026?

In the current environment where most promotional rates expire in May–June 2026, a 6-month FD lets you recapture potentially higher rates if BNM adjusts the OPR upward later in 2026. A 12-month FD locks in today’s rate and protects against potential rate cuts. If you believe rates are near their peak, 12 months at AmBank (3.68%) or MBSB (3.75%) is a reasonable choice. If you are uncertain, 6 months at CIMB or Public Bank preserves flexibility.

Compare individual bank rates in detail:

Maybank FD Rate · CIMB FD Rate · HSBC FD Rate · Alliance Bank FD Rate · Public Bank FD Rate · Standard Chartered FD Rate

All FD rates listed are promotional rates sourced from official bank websites and verified as of April 27, 2026. Rates are subject to change without notice. This page is for comparison purposes only and does not constitute financial advice. Always verify current rates directly with your bank before placing a deposit. PIDM protection limits and eligibility apply as per PIDM guidelines.