Have you ever heard about fixed deposit as a type of easy investment? Some of you may have heard about it, but some others haven’t, so it is crucial for us to help you understand what fixed deposit is. Well, a fixed deposit is a kind of saving, yet due to a contracted tenure applied you can get a return with a higher interest rate, if compared to conventional saving account.
In addition, by applying certain tenure, you should not withdraw the deposited money until the maturity date comes. Early withdrawal may result in paying some penalty fees and even interest cancellation.
RHB Bank Fixed Deposit Malaysia
| TENURE | RATE |
|---|---|
| 1 - 2 Months | 3,2% |
| 3 - 5 Months | 3,25% |
| 6 Months | 3,3% |
| 7 - 11 Months | 3,3% |
| 12 Months | 3,35% |
| 13 - 17 Months | Negotiable |
| 18 - 35 Months | Negotiable |
| 36 - 47 Months | Negotiable |
| 48 Months | Negotiable |
| 49 - 60 Months | Negotiable |
All banks own their tenure, which typically ranges from 1-60 months. RHB Bank, one of the prominent banks in Malaysia, also has its RHB Bank fixed deposit Malaysia. The bank also applies the aforementioned tenure, similar terms and conditions, yet different interest rate and minimum deposit amount compared to other banks.
You should know that RHB Bank offers three types of fixed deposit: ordinary fixed deposits, P.A.Y.S. fixed deposit, and senior fixed deposit. All of these offer different features and requirements. For example, for P.A.Y.S. fixed deposit you need to prepare RM 10,000 as the minimum deposit; while for ordinary fixed deposit, you only need RM 5,000 to open an account.
The interest rate may also different one from another. For instance, during promotional period, the interest rate for senior fixed deposit may go up to 2.35% per annum for a minimum deposit of RM 10,000. Well, you can follow this procedure below to open your RHB Bank fixed deposit Malaysia
How to apply for a fixed deposit in RHB Bank
- Bringing all the required documents, go to the nearest branch of RHB Bank. If you are an RHB Bank saving account holder, then you can bring your bank book as well.
- Queue for customer service then tell your intention to open a fixed deposit account.
- You will then be given further information about each fixed deposit type. You may also get a recommendation for their product. Choose which one suits your needs and don’t be shy to ask your inquiries have there been any. Make sure to understand well about the fixed deposit type you are applying for.
- Lastly, proceed to complete the processes needed to open the account.
To avoid confusion, it is advised that you directly visit the nearest branch to get the most updated information regarding this matter. You can also directly open your new fixed deposit account upon visit, so you can bring the required requirements, such as valid identification document, supporting documents (any of driving license, telephone bills, electricity bills, water bills, or letter of employment). Moreover, all fixed deposit account holders have to be 18 years old at least.
