RHB Bank Fixed Deposit

About RHB Bank

RHB Bank is one of Malaysia’s top banks, with a strong presence in ASEAN. Not only that, but RHB Bank is a fully integrated financial services group in Malaysia, offering a wide range of financial and service products to their customers and a fast and simple banking experience via cutting-edge technology. RHB Bank also launched RHB Islamic Bank, which offers Shariah-compliant banking and financial services through four business units: Retail Banking, Corporate & Investment Banking, Business & Transaction Banking, and Islamic Treasury.

What is a fixed deposit?

A fixed deposit (FD) is a great way to save money for a specific period. With high rates and complete safety from withdrawal, this investment type offers new investors great opportunities in return on their investments!

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 RHB Bank?

RHB Bank offers 4 types of fixed deposits, namely:

• RHB Ordinary Fixed Deposit
• RHB Senior Fixed Deposit
• RHB P.A.Y.S. Fixed Deposit (short tenure)
• RHB Commodity Murabahah Deposit-i (Shariah-compliant)

Who can apply for RHB Bank fixed deposits?

You are eligible to apply for RHB Bank fixed deposits if you are:

• 18 years old and above
• 50 years old and above (RHB Senior Fixed Deposit)
• A Malaysia resident and non-resident
• A part of sole proprietorships, societies, associations, companies, and businesses enterprises
• Non-interbank money market participants and government institutions
• A joint account is allowed:
  • Individuals under the age of 18 must open an account with a parent or legal guardian who is at least 18 years old
  • At least one account holder must be over the age of 50 (RHB Senior Fixed Deposit)

Why should I choose RHB Bank fixed deposits?

Among other reasons, you should choose RHB Bank fixed deposits because:

• Shariah-compliant, Tawarruq arrangement based on the Commodity Murabahah
• Enjoy flexible tenure from 1 to 60 months*
• Allows minimum partial withdrawal of RM1,000*
• Get monthly interest paid into your RHB Current or Savings account
• Get an overdraft facility of up to 100% of your fixed deposit amount
• Fixed deposit is protected by PIDM

*Based on selected fixed deposit

What are the documents required to apply for RHB Bank fixed deposits?

N/A

What is the tenure of RHB Bank fixed deposits?

• RHB Ordinary Fixed Deposit, RHB P.A.Y.S. Fixed Deposit & RHB Commodity Murabahah Deposit-i

  1 to 60 month

• RHB Senior Fixed Deposit

  12 to 60 months

What is the minimum amount to deposit into RHB Bank fixed deposits?

• RHB Ordinary Fixed Deposit
  • 1 month: RM5,000
  • 2 months and above: RM500

• RHB Senior Fixed Deposit & RHB P.A.Y.S. Fixed Deposit
  • RM10,000

• RHB Commodity Murabahah Deposit-i
  • RM1,000

What are the fees for RHB Bank fixed deposits?

• Loss of fixed deposit statement: N/A
• Request for FD summary: RM2 per page

What happens if I withdraw my money before maturity?

• FD placement for 1 to 3 months

  No interest will be paid

• FD placement that lasts more than 3 months

  Interest will be paid at 50% of the contracted rate on completed months, subject to 3 months from the date of placement

How do I contact RHB Bank for further information about fixed deposits?

For more information or assistance with RHB Bank fixed deposits, please contact RHB Customer Service Hotline at 03-9206 8118 or email customer.service@rhbgroup.com. or visit the nearest RHB 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.