Fixed deposit is amongst the most popular investment form. It is where you deposit your cash at financial institution for agreed term (fixed time period) and interest rate. The financial institution might be a bank, credit union, or building society.
As the customer, you must know beforehand that when you deposit the money, it will be held by the institution for a pre-determine period of time. It typically ranges from one month to a few years. The institution will guarantee that there will be no change of interest period for the time being.
The essential understanding of this scheme is that you must not withdraw the money until the end of the term, or else you will be affected by penalty attached to the agreement. Moreover, fixed deposit account is the most suitable if you want capital security and investment return with certainty despite of the market fluctuations. A lot of investors use it as a part of their many investment sets.
Alliance Bank Malaysia also provides this service. As an institution bank that has been operating for more than 130 years, it offers an extensive range of products and services, including Alliance Bank fixed deposit Malaysia. To cater to your busy lifestyle, the bank allows you to monitor and manage the fixed deposit account at any time and from anywhere via online banking service tool.
To apply for one, you have to be aged 18 years old or under 18 years old and accompanied by guardian or parent. It is provided for individuals, corporations, sole proprietor, partnership, clubs, associations, societies, and more.
Alliance Bank Fixed Deposit Malaysia
Alliance Bank Fixed
| Deposit | Deposit Period | Effective Interest Rate |
|---|---|---|
| min. RM5,000 | 1 month | 1.55% |
| min. RM500 | 2 months | 1.65% |
| min. RM500 | 3 months | 1.7% |
| min. RM500 | 4 to 5 months | 1.75% |
| min. RM500 | 6 to 11 months | 1.8% |
| min. RM500 | 12 months | 1.85% |
| min. RM500 | 12 months | 1.85% |
| min. RM500 | 24 months | Negotiable |
Alliance Bank Tier 1 & Tier 2
| Tenure (Months) | Counter Rate (% p.a.) | 2nd Tier Rate (% p.a.) | 2nd Tier Rate (% p.a.) |
|---|---|---|---|
| (for Individual) | (for non Individual) | ||
| 1 | 1,55% | 1,35% | 1,35% |
| 2 | 1,65% | 1,45% | 1,45% |
| 3 | 1,7% | 1,5% | 1,5% |
| 4-5 | 1,75% | 1,55% | 1,55% |
| 6-11 | 1,8% | 1,6% | 1,6% |
| 12 | 1,85% | 1,65% | 1,65% |
| >12 | 1,85% | 1,65% | 1,65% |
| Above 24 months | Negotiable | Negotiable | Negotiable |
The service requires you to place initial deposit minimum of RM5,000 for 1 month tenure, and RM500 for any tenure over 1 month. The effective interest rates are ranging at 1.55% p.a. for 1 month tenure to 1.85% p.a. for 12 months tenure. Above that, the interest rate can be negotiated between the deposit account holder and the Alliance bank.
To apply for Alliance Bank fixed deposit Malaysia account, you have to fill online form first and provide various detail information according to what required by the bank.Follow the steps below to open a fixed deposit account at Alliance Bank
How to apply for a fixed deposit in Alliance Bank
- Set account opening appointment online at /www.alliancebank.com.my/Setting-Appointment-Form.aspx
- Collect and provide your identification contact details as required by the page.
- Submit your application.
Note that you should be aware of any terms and conditions provided by the bank. It is also crucial to compare the tenure and interest rate available.
