AmBank Fixed Deposit

About AmBank

AmBank Group, the parent company of AmBank, is a leading financial services group with over three million individual and corporate customers. Since its establishment 40 years ago, AmBank has been dedicated to supporting the economic development of Banking. It offers various financial services like wholesale banking, retail banking, investment banking, Islamic banking, and general insurance.

What is a fixed deposit?

Fixed deposit (FD) can be an excellent choice for new investors as it offers higher interest rates than regular savings accounts. The duration and return on these investments are also protected by the government, ensuring that your hard-earned money is safe from creditors!

What should I know before applying for fixed deposits?

• Interest ratesYou 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.
• TenureDifferent banks offer different tenures, ranging from 1 month to a few years. Choose the one that suits your needs and financial goals.
• Hidden feesIt is crucial to identify all costs incurred to avoid spending more than expected.
• PenaltyYou should be informed of the penalty amount to know what to expect if you need to withdraw the money before maturity.
• BanksBeing 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 AmBank?

AmBank offers 2 types of fixed deposits, namely:

• Conventional Fixed Deposit
• AmQuantum Investment

Who can apply for AmBank fixed deposits?

You are eligible to apply for Conventional Fixed Deposit and AmQuantum Investment if you are at least 18 years old.

Why should I choose AmBank fixed deposits?

Among other reasons, you should choose AmBank fixed deposits because:

• Low minimum deposit (from RM500)
• Flexible tenure (1 to 60 months)
• Protection by PIDM (up to RM250,000)
• Interest is credited into your Savings or Current account
• Option for automatic renewal
• For Conventional Fixed Deposit, you will be given an option to renew with principal only or principal and interest
• For AmQuantum Investment, you will be given an option to have your interest credited quarterly

What are the documents required to apply for AmBank fixed deposits?

Your identification card is the only document needed to apply for AmBank fixed deposits.

What is the tenure of AmBank fixed deposits?

• Conventional Fixed Deposit: 1 to 60 months
• AmQuantum Investment: 9 to 60 months

What is the minimum amount to deposit into AmBank fixed deposits?

• Conventional Fixed Deposit:
• 1 month: RM5,000
• 2 months and above: RM500
• AmQuantum Investment: RM5,000 (9 months and above)

What are the fees for AmBank fixed deposits?

Interest rates:

• Conventional Fixed DepositIt depends on your tenure (*1.40% – 1.70% p.a.)
• AmQuantum InvestmentIt depends on your tenure (*1.45% – 1.65% p.a.)
• Ad-hoc statement requestRM5 per request

To learn more about the interest rates, click here (CFD) | (AQI)

*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 AmBank for further information about fixed deposits?

You can contact AmBank through these channels:

• Phone: 03-2178 8888
• Email: customercare@ambankgroup.com
• AmOnline app: Menu – Inbox – AmMail – Create New Message

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.