Fixed Deposit Calculator — Malaysia
Calculate your fixed-deposit maturity value and interest in MYR at current rates. No signup, no account needed.
Enter a deposit amount, a rate between 0% and 100%, and a term above zero (up to 50 years) to see results.
Fixed deposit rates in Malaysia (2026)
12-month FD board rates at the main banks are about 1.8–1.9% p.a. (Maybank 1.90%, Hong Leong 1.80%; banks' own pages, October 2026). PIDM insured up to RM250k. Islamic Commodity Murabaha deposits pay similar rates.
At around 2%, the fixed-deposit rate in Malaysia is on the low side by international standards.
Reference figures, ~2026. FD interest is often taxable and rates vary by bank and tenure - verify the current rate before depositing.
Worked example
For every RM 40,000 deposited at 2.00% for 5 years (quarterly compounding):
- Maturity value: RM 44,196
- Interest earned: RM 4,196
Scale to your deposit amount. Longer tenures and higher rates grow the maturity value; compare banks before locking in.
How to get the best fixed-deposit return in Malaysia
- Compare several banks - smaller and digital banks often pay more than the big high-street names.
- Ladder your deposits across different tenures so some matures regularly and you can reinvest at new rates.
- Check how often interest compounds; more frequent compounding grows the maturity value.
- Factor in tax on the interest, and compare against short-term government bills or bonds.
A real-data rate check: fixed deposit rates in Malaysia (2026)
Many finance calculators default to a generic 3-4% "fixed deposit" rate, but that overstates what a 12-month MYR fixed deposit actually pays in Malaysia today. Board rates published directly by the major banks are much lower: Maybank lists its standard 12-month Fixed Deposit / Islamic Fixed Deposit-i rate at 1.90% p.a., effective 21 July 2026 (Maybank2u rate sheet). Hong Leong Bank's own rate page lists 1.80% p.a. for 12 months (effective 1 August 2026), while CIMB, Public Bank and RHB publish their current board rates on their own rate pages. These board rates track Bank Negara Malaysia's Overnight Policy Rate (OPR), which the central bank has held at 2.75% through its 4 September 2026 Monetary Policy Committee meeting (paultan.org, 4 Sept 2026), unchanged since it last moved.
A broader bank-by-bank scan by Versa Malaysia (data as of 26 July 2026) confirms the same pattern across the industry: 12-month rates cluster in the 1.75%-2.15% p.a. range for Affin, AmBank, CIMB, Hong Leong Bank, HSBC, Maybank, OCBC, Public Bank and RHB, with only a handful of promotional or campaign products (e.g. Alliance Bank up to 2.45% p.a. and Bank Rakyat up to 2.40% p.a.) pushing above 2.2%. Versa's own commentary ties this directly to OPR policy: when BNM lowers or holds its benchmark rate, commercial banks adjust their deposit boards accordingly rather than competing far above it. That means a calculator defaulting to 3.5% or higher for a plain-vanilla 12-month FD is meaningfully out of step with what a general depositor is quoted at a bank counter or online banking portal in 2026.
A more realistic example: using A = P(1+r/n)^(nt) with a representative board rate of 2.00% p.a. (annual compounding, n=1), a RM10,000 deposit placed for 1 year grows to RM10,200.00 (RM200.00 in interest). The same RM10,000 left to renew for 3 years at the same rate compounds to RM10,612.08 (RM612.08 in interest) — a small but hand-verifiable difference from simple interest, since the second and third year's interest is calculated on the growing principal, not just the original RM10,000.
Frequently Asked Questions
How is FD maturity calculated in Malaysia?
Maturity = P × (1 + r/4)^(4n) for quarterly compounding, where P is the deposit, r the annual rate and n the years. fin·calc uses this standard method.
What is the current FD rate in Malaysia?
As a 2026 reference, fixed-deposit rates are around 2% per year, varying by bank and tenure. 12-month FD board rates at the main banks are about 1.8–1.9% p.a. (Maybank 1.90%, Hong Leong 1.80%; banks' own pages, October 2026). PIDM insured up to RM250k. Islamic Commodity Murabaha deposits pay similar rates.
Is FD interest taxable in Malaysia?
In Malaysia, fixed-deposit interest earned by individuals is not taxable when placed with a licensed bank under the Financial Services Act 2013, and does not need to be declared to LHDN.
Is a fixed deposit safe in Malaysia?
Fixed deposits carry no market risk. In Malaysia, deposits are protected by PIDM up to RM250,000 per depositor, per member bank. They trade higher safety for lower long-term returns than equities.
Should I choose a fixed deposit or invest instead in Malaysia?
A fixed deposit gives a guaranteed return and suits money you cannot afford to risk. Investing targets higher long-term growth but can fall in value. Many people keep an FD for safety and invest separately for growth.
What is a realistic 12-month fixed deposit rate in Malaysia right now?
As of mid-to-late 2026, standard 12-month MYR fixed deposit board rates from Maybank, CIMB, Public Bank, RHB and Hong Leong Bank cluster around 1.8%-2.05% p.a., with Bank Negara Malaysia's OPR held at 2.75% since its last change. A default of about 2.0% p.a. reflects a typical, non-promotional rate offered to the general public.
Why did this calculator's default rate change from 3.5%?
A 3.5% default no longer matches published bank rate sheets. Maybank's own rate card (effective 21 July 2026) lists 1.90% p.a. for a 12-month Fixed Deposit, and a same-period scan of CIMB, Public Bank, RHB and Hong Leong Bank shows the same 1.8%-2.05% p.a. range, so the default was lowered to about 2.0% to stay realistic.
Can I get a higher fixed deposit rate than the board rate?
Yes. Some banks run promotional or campaign fixed deposits above their standard board rate — for example Alliance Bank and Bank Rakyat have advertised 12-month rates up to roughly 2.4%-2.45% p.a., and senior-citizen or online-only FD products can also pay a premium over the ordinary counter rate. These promotions vary by bank, deposit size and time period, so always check the bank's current rate sheet before relying on a promotional figure.
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Sources
Deposit rates are compiled from each country's central-bank publications and the typical offerings of its major banks, reviewed for 2026 and subject to change — always confirm the current rate with your bank before depositing. See our methodology and editorial policy for how we source and update this data.
Additional sources for this page
Maybank2u Fixed Deposit Account Rates (effective 21 July 2026): Maybank 12-month Fixed Deposit rate of 1.90% p.a.. Bank Negara Malaysia OPR decision via paultan.org (4 September 2026): BNM holds OPR at 2.75% after September 2026 MPC meeting. Hong Leong Bank, Fixed Deposit interest rates (12 months 1.80% p.a., effective 1 August 2026) (accessed 15 October 2026). CIMB, Fixed Deposit Account interest rates (accessed 15 October 2026). Public Bank, Fixed Deposit Account (accessed 15 October 2026). and Versa Malaysia fixed deposit rate roundup (26 July 2026). See our methodology and editorial policy for how we source and update this data.