AmBank Fixed Deposit Malaysia

What actually is a fixed deposit? To be simply put, it is a typical saving with a higher interest than a normal (conventional) saving. However, you will have to stick with a certain rule in which you cannot withdraw any bucks from your deposit account within the preset tenure. In Malaysia, many banks are offering this service, and one of them is AmBank.

If you are a customer of AmBank and already have a saving account, creating AmBank fixed deposit account is simply done. However, it does not mean dealing with AmBank fixed deposit Malaysia is very tricky to do. First thing you should do is to understand the concept of AmBank fixed deposit itself.

AmBank Fixed Deposit Malaysia

As mentioned earlier, there is a distinguishable interest rate that you can get on annual basis. Plus, there are tenures to choose, and some requirements to comply.

To get the insight of AmBank fixed deposit Malaysia and its interest rate, the easy way is to visit the bank’s official website. There is a lot of information about the interest rate per annum, and how many months do you have to deposit your money there.

AmBank Fixed Deposit Malaysia

DepositDeposit PeriodEffective Interest Rate
min. RM5,0001 month1.6%
min. RM5002 months1.6%
min. RM5003 months1.65%
min. RM5004 to 6 months1.7%
min. RM5007 to 11 months1.65%
min. RM50012 months1.55%
min. RM50015 to 21 months1.4%
min. RM50024 months1.45%
min. RM50036 months1.5%
min. RM50048 to 60 months1.55%

As per 2021, the deposit period available ranges from 1 to 60 months. The minimum deposit is RM 500 for tenure 2 to 60 months. As for the one-month deposit, you need to save RM5,000 as the minimum amount. The fixed deposit rate ranges from 1.4% to 1.7% per annum, depending on which tenure you are choosing.

If you are interested in making your own fixed deposit saving in AmBank, you need to be at least 18 years old. You also need to comply with the minimum saving amount for each tenure, like RM 500 or RM 5,000. Bringing your identification card/document is essential as well. Next, the procedure of making the fixed deposit is as follows

How to apply for a fixed deposit in AmBank

  1. First, determine which tenure you are going to choose. Make sure to acknowledge the interest rate as well.
  2. Then, go to the nearest branch of AmBank and tell the customer service that you are going to open a fixed deposit account. If you already have an account in AmBank, you can open the deposit account online. However, with offline application, you can get proper explanation directly from the bank’s officer itself.
  3. The customer service will then help you with your deposit application. Before proceeding with the application process, make sure you have fully understood what kind of fixed deposit you are applying for.

Well, keep in mind there is specific charge for statement request and the replacement of fixed deposit certificate. However, the amount is not significant, though.

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