• Affin Bank Fixed Deposit Rate

     Affin Bank Fixed Deposits offered by Affin Bank Berhad, are financial tools where you can earn profits on your funds in an easy and safe way. Affin Bank offers a wide range of financial services and products for both corporate and retail customers. Known for its customer service and enhanced banking facilities, Affin Bank has improved the way of conventional banking.

    With the Affin Bank Fixed Deposits, you can enjoy a flexible range of tenures with attractive interest rates that will suit your need and preference. Whether you want to invest in a long-term or a short-term account, you can earn good returns on your deposits.

    Affin Bank Fixed Deposit Interest Rates 2018 (Updated on 19 Nov 2018)

    Affin Fixed Deposit Tenure (In Months) Interest Rates (% p.a.)
    1-2 3.25% p.a.
    3-5 3.30% p.a.
    6-8 3.40% p.a.
    9-11 3.50% p.a.
    12 4.05% p.a.
    13 to 60 Negotiable

    Types of Affin Bank Fixed Deposits

    Affin Bank offers 3 types of fixed deposits. They are:

    • Affin Fixed Deposit: This is the basic fixed deposit scheme. You can deposit for tenure starting from 1 month up to 60 months.
    • Affin FDPlus: This fixed deposit scheme is for your short-term investment. It is a KLIBOR pegged fixed deposit scheme. The tenure ranges from 1 month up to 12 months.
    • Affin FDPlus2: This fixed deposit scheme is for your foreign currency deposits. This is available for 6 international currencies.

    Affin Bank Fixed Deposit Features and Benefits:

    • You can choose a flexible tenure based on your financial needs and preference.
    • You can enjoy fixed returns on your deposits based on simple interest.
    • You can earn interest every 6 months if you choose to deposit funds for a minimum of 13 months and above.
    • You can withdraw partial funds from your fixed deposit account if required.
    • You can open a basic fixed deposit account for 1-month tenure by depositing a minimum of RM5,000.
    • You can deposit a minimum of RM500 by opting for a tenure of 2 months and above.
    • You need not pay any brokerage fee to open a fixed deposit account.
    • Your deposit is protected by Perbadanan Insurans Deposit Malaysia (PIDM).

    Affin Bank Fixed Deposit Eligibility Criteria

    • Fixed Deposit:
      • Minimum RM5,000 for one-month tenure.
      • Minimum RM500 for 2 months and above.
    • FDPlus:
      •  Minimum RM10,000 for 1, 3, 6, 9 and/or 12 months.
    • FDPlus2:
      •  RM5,000 for 3-month tenure.
    • Nationality (for AFFIN Fixed Deposit and AFFIN FD PLUS):
      • Malaysian citizens.
      • Permanent residents of Malaysia.
    • Minimum Age: 18 years.

    Affin Bank Fixed Deposit for Foreigners

    Affin Bank FDPlus2 is available for foreigners. This fixed deposit scheme is ideal for expatriates. It earns high interest returns on short-term deposits. The deposit can be made in 6 foreign currencies, such as USD, GBP, AUD, EUR, NZD, and SGD.

    Affin Bank Fixed Deposit Fees and Charges

    Affin Bank Fixed Deposit Fees & Charges
    Reprint/Replacement of lost Advice RM5.00 per request (from 2nd copy onwards)

    How To Open An Affin Bank Fixed Deposit Account?

    Online Enquiry Form
    • Visit the bank’s official website.
    • Open the product page and click on the “Apply Now” button.
    • Fill out your contact details in the form and submit the form.
    • You will receive a call from the bank staff to help you through the further process.
    Offline Method
    • Visit the nearest Affin Bank branch.
    • Express your interest to open an FD account with the bank.
    • Know the terms and conditions applicable.
    • Fill up the application form to open the account and deposit your money.
    • Be sure about the deposit tenure when you open the account.

    Affin Bank Fixed Deposit Promotion 2018 in Malaysia

    Affin Bank is offering a high fixed deposit interest rate up to 5.18% p.a. for a minimum of RM10,000 when you apply for:

    • Current/Savings Account (CASA)
    • ASNB Variable Funds
    • Unit Trust

    This promotional campaign for Affin Bank Fixed Deposits is effective until 28 February 2018.

    How does AFFINBANK FD Accounts Work?

    Consider that you have deposited RM10,000 in an Affin Fixed Deposit Account for a period of 12 months. The bank specifies that you can earn an interest rate of 4.05% p.a. for a deposit tenure of 12 months. For a tenure of 12 months and below, the interest will be paid only on maturity.

    Therefore, the interest you can earn on maturity is calculated below.

    I = [A x {1 + (R/100)T}] - A

    I = [RM10,000 x {1 + (4.05/100)12/12}] – RM10,000

    I = RM405

    The interest you earn on maturity is RM405 and the maturity amount you get is RM10,405.

    Affin Bank Contact Number for Fixed Deposits

    Use the following contact numbers to get in touch with the bank and get your queries sorted.

      Number Working Hours
    Contact Centre 03-8230 2222 Monday to Sunday—8:00 a.m. to 12:00 a.m.
    Customer Careline 1 800 88 3883 Monday to Thursday—8:45 a.m. to 5:45 p.m. Friday—8:45 a.m. to 4:45 p.m.
    General Line 03-2055 9000

    Affin Bank Fixed Deposit FAQs

    Q. Will my fixed deposit with Affin Bank be insured? If yes, what is the protection limit?

    A. Yes. The Affin Bank Fixed Deposit is protected by PIDM against any loss of your insured deposit in the event of failure by the bank. Your deposits are protected up to a maximum of RM250,000 which would include your principal amount and the interest you earn on that amount.

    Q. Can I withdraw my fixed deposit before it matures?

    A. Yes. Some conditions do apply for early or premature withdrawal of fixed deposit. You will not be paid any returns if you withdraw your fixed deposit within the first 3 months when you have chosen a tenure of minimum 3 months and above.

    If you have opted for a tenure of 1, 2 or 3 months, then you won’t be paid interest if you withdraw the fixed deposit before that tenure ends. If you withdraw your fixed deposit after the first 3 months of opening an account, then you will get only 50% of the total returns earned on the time completed.

    Q. Can I withdraw a partial amount from my fixed deposit?

    A. Yes, the Affin Bank allows partial withdrawal on your fixed deposit account. The rules that apply to partial withdrawal are explained below:

    • You are allowed partial withdrawal only if the fixed deposit is an individual, joint or a minor account.
    • The balance amount in your fixed deposit account must be more than RM20,000 after withdrawal.
    • You can only withdraw amount in multiples of RM5,000, or any other specific amount as set by the bank.
    • You will be charged a penalty interest rate of 50% on the contracted interest rate. This amount will be applied on the withdrawal amount to calculate the interest payable.
    • Do remember that if you open an Affin Fixed Deposit Account based on the promotional offer, then you are not allowed to withdraw partial funds from the fixed deposit.

    Q. Will my fixed deposit be renewed automatically after it matures?

    A. Yes. Your fixed deposit will be renewed automatically at the time of maturity for the same tenure at the bank’s prevailing interest rate unless you state otherwise. If you wish to not renew or change the terms of your fixed deposit, you have to send a written notice of instructions to the bank at the time of your fixed deposit account maturity.

    Q. Whom do I need to contact in case of any complaints or redress?

    A. Affin Bank has provided a number of avenues for you to express your dissatisfaction or address any complaints with regard to your fixed deposit. They are:

    You can consult a bank staff directly at any branch of Affin bank.

    • You can call the Care Line at 1 800-88-3883 (Customer Care and Quality).
    • You can email your complaint to yourvoice@affinbank.com.my.
    • You can complete the online feedback form available on the bank website.
    • You can fax your complaint to 03-20261104.
    • You can mail your query or complaint to:

    Customer Care and Quality

    17th Floor, Menara Affin

    80, Jalan Raja Chulan

    50200 Kuala Lumpur.

    Other Products offered by Affin Bank:

    Apart from offering Fixed Deposit, Affin Bank offers other products and services which include:

    News About Affin Bank Fixed Deposits in Malaysia

    • OPR Hike Has Little Impact On Affin Bank

      Affin Bank Bhd increased its base rate by 25 basis points (bps) following Bank Negara Malaysia’s announcement of increasing overnight policy rate (OPR) last month.

      Affin Bank also increased its base lending and financing rate by 25bps. The bank also announced 25 bps hike in its fixed deposit (FD) rate across the board. This might have little impact on Affin’s net profit for financial year 2018 and 2019. As per reports, the bank might record 1% net profit for FY18 and FY19 following its hike in FD rate.

      Affin Banks aggressive deposit pricing can be attributed to the bank’s urgency to meet net stable funding ratio (NSFR) requirement by 2019. Earlier, it was predicted that the bank would see 22 bps hike in FD rate, something which would have had a positive impact on Affin Bank’s net profit.

      BBazaar Malaysia

      22 February 2018

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