Established in 1966, Public Bank can be considered as one of the longest-operating banks in Malaysia. With more than 50 years of experience, it becomes less surprising to know that this bank has offered various services for its customers.
One of its prominent services is personal saving account, and you might have known about its conventional saving account. The bank also offers several types of fixed deposit as their banking product. But first, what actually is a fixed deposit?
To be briefly put, a fixed deposit account is a conventional saving account that is subject to a contracted tenure. As the reward, you will get better interest rate compared to the conventional saving account. This service applies this specific minimum deposit amount requirement and contracted tenure that you can choose according to your needs.
Public Bank Fixed Deposit Malaysia
PLUS Fixed Deposit Rates
| Tenure | Rate (% p.a) |
|---|---|
| 1 Month | 1,5% |
| 2 Months | 1,65% |
| 3 Months | 1,7% |
| 4 Months | 1,7% |
| 5 Months | 1,7% |
| 6 Months | 1,8% |
| 7 Months | 1,8% |
| 8 Months | 1,8% |
| 9 Months | 1,8% |
| 10 Months | 1,8% |
| 11 Months | 1,8% |
| 12 Months | 1,85% |
| 13 to 60 Months | Negotiable |
PB Golden 50 PLUS Fixed Deposit
| Tenure | Rate (% p.a) |
|---|---|
| 1 Month | 1,6% |
| 2 Months | 1,75% |
| 3 Months | 1,8% |
| 4 Months | 1,8% |
| 5 Months | 1,8% |
| 6 Months | 1,9% |
| 7 Months | 1,9% |
| 8 Months | 1,9% |
| 9 Months | 1,9% |
| 10 Months | 1,9% |
| 11 Months | 1,9% |
| 12 Months | 1,95% |
| 15 Months | 1,95% |
| 18 Months | 1,95% |
| 21 Months | 1,95% |
| 24 Months | 1,95% |
| 36 Months | 1,95% |
| 48 Months | 1,95% |
| 60 Months | 1,95% |
PB eFixed Deposit Rates
| Tenure | Rate (% p.a) |
|---|---|
| 1 Month | 1,5% |
| 2 Months | 1,65% |
| 3 Months | 1,7% |
| 4 Months | 1,7% |
| 5 Months | 1,7% |
| 6 Months | 1,8% |
| 7 Months | 1,8% |
| 8 Months | 1,8% |
| 9 Months | 1,8% |
| 10 Months | 1,8% |
| 11 Months | 1,8% |
| 12 Months | 1,85% |
| 13 Months | 1,85% |
| 14 Months | 1,85% |
| 15 Months | 1,85% |
| 16 Months | 1,85% |
| 17 Months | 1,85% |
| 18 Months | 1,85% |
| 19 Months | 1,85% |
| 20 Months | 1,85% |
| 21 Months | 1,85% |
| 22 Months | 1,85% |
| 23 Months | 1,85% |
| 24 Months | 1,85% |
| 36 Months | 1,85% |
| 48 Months | 1,85% |
| 60 Months | 1,85% |
According to the bank’s official website, the bank has several types of fixed deposit account with distinguishable interest rate ranging from 1.50% to 1.95% (2021 update). A negotiable interest rate is also available for PLUS fixed deposit services. This being said, you can go to your account-holding branch to get further information about the fixed deposit.
If you decide to be a Public Bank fixed deposit Malaysia account holder, you need to know the aforementioned aspects beforehand. All information regarding the interest rates is available on the bank’s official website. Information regarding the available contracted tenures is available as well.
The other essential information required is the minimum deposit to open your deposit account. Stated as well on the official website, for one-month tenure, depositor needs to prepare at least RM 5,000. For longer tenures (starting from 2-60 months), the minimum amount of deposit is RM 1,000.
Aside from the minimum deposit amount, the requirement to open your new fixed deposit account is basically the same with opening a conventional saving account. A valid identification document as well as some supporting documents like driving license, utility bills, and letter of employment may be required to validate your eligibility. Keep in mind all depositors need to be at least 18 years old. The procedure to open a Public Bank fixed deposit Malaysia account is as follows
How to apply for a fixed deposit in Public Bank
- Go to the nearest Public Bank branch and queue for the customer service.
- When your turn comes, tell the officer your intention to open a fixed deposit account.
- You will then get a further explanation about each fixed deposit service. Don’t hesitate to pose your inquiries.
- Choose one that suits your preferences. Then proceed to complete all procedures required to apply for a fixed deposit account.
It is advised to open your fixed deposit account in the nearest Public Bank branch. You may need comprehensive information about each fixed deposit type. Therefore, it will be more reassuring if you get the information directly from the officer.
