AFFIN Bank Fixed Deposit

About AFFIN Bank

Affin Bank Berhad is a subsidiary company of AFFIN Group. Being a financial service provider with over 111 branches nationwide, AFFIN Bank aims to provide the best financial services and solutions to individuals, businesses, and corporations to ensure profits and values for its shareholders.

What is a fixed deposit?

Fixed deposit (FD) is a type of short-term investment where an investor deposits a certain amount of money and agrees to refrain from withdrawing their cash for a set length of time. Upon maturity, investors will be paid a great interest rate, which is usually more significant than a conventional savings account. New investors prefer it because it is insured by the government and ensures high returns, depending on the interest rates and the tenure.

What should I know before applying for fixed deposits?

  • Interest rates

    You should know the interest rates upon maturity to ensure you gain a great amount of return. Interest rates differ from bank to bank and tenure to tenure.

  • Tenure

    Different banks offer different tenures, ranging from 1 month to a few years. Choose the one that suits your needs and financial goals.

  • Hidden fees

    It is crucial to identify all costs incurred to avoid spending more than expected.

  • Penalty

    You should be informed of the penalty amount to know what to expect if you need to withdraw the money before maturity.

  • Banks

    Being aware of the customer service and the reputation of the bank you are planning to apply your fixed deposit account is an important step! Do thorough research before deciding on a bank.

What are the types of fixed deposits offered by AFFIN Bank?

AFFIN Bank offers 1 type of fixed deposit, which is AFFIN Fixed Deposit.

Who can apply for AFFIN Fixed Deposit?

You are eligible to apply for AFFIN Fixed Deposit if you are:

  • At least 18 years old, and
  • A Malaysian or a permanent resident of Malaysia

Why should I choose AFFIN Fixed Deposit?

Among other reasons, you should choose AFFIN Fixed Deposit because:

  • Low minimum deposit (from RM500)
  • Flexible tenure (1 to 60 months)
  • Protection by PIDM (up to RM250,000)
  • 24/7 online banking services

What are the documents required to apply for AFFIN Fixed Deposit?

Your identification card is the only document needed to apply for AFFIN Fixed Deposit.

What is the tenure of AFFIN Fixed Deposit?

1 to 60 months.

What is the minimum amount to deposit into AFFIN Fixed Deposit?

  • 1 month: RM5,000
  • 2 months and above: RM500

What are the fees for AFFIN Fixed Deposit?

  • Interest rates: It depends on your tenure (*1.50% – 1.85% p.a.)
  • Additional Statement Request: RM5 (per request)

To learn more about the interest rates, click here.

*As of 25 March 2022

What happens if I withdraw my money before maturity?

  • Within 3 months of account opening

    No interest will be paid to you

  • After 3 months of account opening

    50% interest of the completed months will be paid to you

How do I contact AFFIN Bank for further information about AFFIN Fixed Deposit?

You can contact AFFIN Bank hrough these channels:

  • Phone: 03-8230 2222
  • Online form: Visit here
  • Branch visit: Click here to locate the nearest branch

What are the common terms of fixed deposit?

  • “p.a.”

    It stands for per annum or each year.

  • “Interest rate”

    The amount of return earned by depositors.

  • “Tenure”

    The amount of time the money is locked in a fixed deposit account.

  • “Deposit”

    The amount of money locked in a fixed deposit account to earn interest.

  • “Penalty”

    The additional charge from the bank for withdrawals before maturity (or premature withdrawal).

  • “Maturity”

    The end of a set time when an investment becomes due, and the principal and interest are repaid.

  • “Premature withdrawal”

    The money withdrawal in a fixed deposit account before maturity.

  • “Partial withdrawal”

    The withdrawal of part of the amount in a fixed deposit account before maturity.