Public Bank was established in 1966, with its first branch located on Jalan Gereja in Kuala Lumpur. Not only that, but Public Bank is now the third-largest banking group in Malaysia, with a total asset size of approximately RM451.26 billion at the end of 2020. Now, Public Bank continues to expand its business in Malaysia and other regions by promoting and introducing a diverse range of financial and service products that meet the needs of today’s customers.
What is a fixed deposit?
A fixed deposit (FD) is the best option for people who want to keep their money safe and earn some interest from it. The returns are higher than other saving accounts, and you are guaranteed by the government!
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 Public Bank?
Public Bank offers 3 types of fixed deposits, namely:
PLUS Fixed Deposit Account
PB eFixed Deposit Account
PB Golden 50 PLUS Fixed Deposit Account (for senior citizens)
Who can apply for Public Bank fixed deposits?
You are eligible to apply for Public Bank fixed deposits if you are:
18 years old and above
50 years old and above (PB Golden 50 PLUS Fixed Deposit Account)
A Malaysia resident or non-resident
A part of partnerships, corporate entities, associations, clubs, societies, or sole proprietors with existing conventional or Islamic personal Current Account or Savings Account (designated CASA)
Have registered for PBe
Why should I choose Public Bank fixed deposits?
Among other reasons, you should choose Public Bank fixed deposits because:
Get the low minimum deposit starting from RM1,000*
Enjoy flexible tenure from 1 to 60 months
Allowed minimum partial withdrawal of RM1,000*
Enjoy a special discount, especially for account holders aged 50 and up*
Flexible interest payment methods of 6 months or upon maturity*
For your convenience, automatic renewal is available
The deposits maintained are protected by PIDM
*Based on selected fixed deposit
What are the documents required to apply for Public Bank fixed deposits?
N/A.
What is the tenure of Public Bank fixed deposits?
1 to 60 months.
What is the minimum amount to deposit into Public Bank fixed deposits?
PLUS Fixed Deposit Account
1 month: RM5,000
2 months and above: RM1,000
PB eFixed Deposit Account
RM1,000
PB Golden 50 PLUS Fixed Deposit Account
1-12 months: RM30,000 per fixed deposit receipt
15, 18, 21, 24, 36, 48 and 60 months: RM10,000 per fixed deposit receipt
What are the fees for Public Bank fixed deposits?
Lost or misplaced fixed deposit receipt:
RM5 service charge
RM10 stamp duty for the ‘Indemnity Letter for Lost Fixed Deposit’
Request for statement: RM2 per page
What happens if I withdraw my money before maturity?
FD placement for 1 to 3 months
No interest will be paid to you
FD placement that lasts more than 3 months
For each completed month, interest will be calculated and paid at half of the originally contracted rate
How do I contact Public Bank for further information about fixed deposits?
For more information or assistance with Public Bank fixed deposits, please contact 1-800-22-9999 or email rfsd@publicbank.com.my or visit the nearest Public Bank branches.
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.
