Fixed deposit is an investment scheme where you are supposed to deposit certain amount of money in a set period of time and gain pre-determined interest rate. It is an investment that carries low risk, by saving your money away for a short to long term, typically between a month and a few years long. Some institutions will let you to withdraw the money before the end of the term in times of emergency, but usually it requires you to pay penalty fee.
The biggest advantage of fixed deposit is you are offered with higher interest rate than any types of banking or financial services such as saving accounts. In general, the longer your selected term is or the more money that’s being put in, the higher interest rate that you’re offered with.
It can be a wise option to go if you want to avoid temptation of easy money withdrawal such as with typical saving account, or if you want to have a type of set and forget savings while earning significant investment return.
There are a lot of banking institutions in Malaysia that’s provided this service. One of them being China Construction Bank fixed deposit Malaysia. It is amongst the many financial services made available for both personal and corporate customers. China Construction Bank (CCB) Malaysia set varied tenure from 1 month to 12 months and above.
China Construction Bank Fixed Deposit Malaysia
| Currencies (Tenor) | MYR | USD | CNY | EUR |
|---|---|---|---|---|
| 1 month | 1,7% | 0,1% | 1,4% | 0% |
| 3 months | 1,75% | 0,2% | 1,9% | 0% |
| 6 months | 1,8% | 0,3% | 2,2% | 0% |
| 9 months | 1,9% | 0,3% | 2,3% | 0% |
| 12 months | 1,95% | 0,5% | 2,6% | 0% |
| Above 12 months | 2% | 0,5% | 2,6% | 0% |
The offered interest rate of fixed deposit account by CCB Malaysia ranges from 1.7% to 2% for Malaysian Ringgit. Aside from that, the bank also allows you to deposit money in major currencies such as US Dollar, China Yuan, and Europe Euro, with diversified interest rate for each. Below are the several ways to open an account of China Construction Bank fixed deposit Malaysia
How to apply for a fixed deposit in China Construction
- Visit the nearest CCB Bank Malaysia’s branch office in person if you’re already a holder of CCB saving account.
- Similarly, you may visit the branch if you don’t have saving account there yet, by bringing required documents such as identity card, proof or address, and others.
- Submit the documents accordingly and fill the fixed deposit form then sign the application.
Once you have opened a fixed deposit account and your term is up, you are allowed to select to reinvest the deposit or liquidate the fund into cash. If you choose to renew the term, you will earn the prior interest and increase the amount as a form of investment.
