Malayan Banking Berhad, or Maybank, is Malaysia’s largest corporation by market capitalisation on the Malaysian Bourse (Bursa Malaysia). It was established in 1960. Maybank offers a variety of goods and services to its customers, including commercial banking, investment banking, Islamic banking, offshore banking, leasing and hire purchase, insurance, asset management, stockbroking, and online banking. One of Maybank’s goals is to make financing accessible to everyone.
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.
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.
Different banks offer different tenures, ranging from 1 month to a few years. Choose the one that suits your needs and financial goals.
It is crucial to identify all costs incurred to avoid spending more than expected.
You should be informed of the penalty amount to know what to expect if you need to withdraw the money before maturity.
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.
Maybank offers 5 types of fixed deposits, namely:
Among other reasons, you should choose Maybank fixed deposits because:
The documents needed to apply for Maybank fixed deposits are as follows:
1 to 60 months. 12 months for Prosperous Now Account-i.
The interest rates depend on your tenure. To learn more about the interest rates, click here.
No interest shall be paid on any immediate fixed deposit premature withdrawal (Without 31 days’ Notice Period) that has not completed its respective full tenure period.
You can contact Maybank Customer service at 1-300-88-6688 or visit the nearest Maybank branch.
It stands for per annum or each year.
The amount of return earned by depositors.
The amount of time the money is locked in a fixed deposit account.
The amount of money locked in a fixed deposit account to earn interest.
The additional charge from the bank for withdrawals before maturity (or premature withdrawal).
The end of a set time when an investment becomes due, and the principal and interest are repaid.
The money withdrawal in a fixed deposit account before maturity.
The withdrawal of part of the amount in a fixed deposit account before maturity.