Bank of Nova Scotia Fixed Deposit Rate

The Bank of Nova Scotia offers a host of personal banking products, such as savings account, current account, and fixed deposit account. The money you deposit in a fixed deposit account is eligible for protection. You can rest assured that the deposited amount is guaranteed.

Bank of Nova Scotia Fixed Deposit Interest Rates 2019

Deposit Tenure (in Months) Interest Rate (% p.a)
1 3.20
2 3.25
3 3.25
4 3.30
5 3.30
6 3.30
7 3.30
8 3.30
9 3.30
10 3.35
11 3.35
12 3.35
>12 Negotiable

2nd Tier Interest Rates:

Deposit Tenure (in Months) Interest Rate (% p.a.)
1 3.30
2 3.30
3 3.40
4 3.40
5 3.40
6 3.50
7 3.50
8 3.50
9 3.55
10 3.55
11 3.55
12 3.65

Types of Bank of Nova Scotia Fixed Deposits

Fixed Deposit Account: The bank offers Fixed Deposit Accounts where you can deposit any sum above the set minimum for a period starting at 1 month. The interest rate depends on the deposit tenure.

Features and Benefits

  • The minimum deposit for a tenure of 1 month is RM5,000.
  • The minimum deposit sum for a tenure of 2 months and beyond is RM1,000.
  • The deposit tenure ranges from 1 month up to 12 months.
  • The funds deposited in the account is eligible for protection by Perbadanan Insurans Deposit Malaysia.
  • The rates are applicable to individuals and small-medium enterprises (SMEs).
  • The base lending rate applied is 6.90% p.a., effective from 5 February 2018.
 

Fees and Charges

Visit the nearest branch to get details on the fees and charges applicable.

How to Open a Bank of Nova Scotia Fixed Deposit Account

Over the Counter
  • Visit the nearest branch of the bank.
  • Inform the staff about your interest in fixed deposits.
  • Enquire the further details of the product.
  • Fill up the application form with relevant information.
  • Attach supporting documents with the application.
  • Submit them to the bank.

Contact Numbers for Bank of Nova Scotia Fixed Deposit

Branch Telephone Number Fax Email Address
Kuala Lumpur (603) 2052 3600 (603) 2052 3700 [email protected]
Johor Bahru (603) 2052 3604 (603) 2052 3701 -
Penang (604) 2519 102 (604) 2519 122 -
Labuan (60-87) 451 101 (60-87) 451 099 -

The interest rate for a fixed deposit account with Bank of Nova Scotia is determined based on the deposit amount and the tenure you choose. Check with the bank staff for further information on the product. You can also compare the rates with other banks in Malaysia before making the investment.

FAQs

Q. Can I make a premature withdrawal?

A. Yes. You can make premature withdrawal. However, it is not encouraged as no interest will be paid if the FD is prematurely withdrawn. This rule is applicable for placements and renewals made from 1 September 2018.  


Q. Do the interest rates remain constant?

A. No. The interest rates you get on fixed deposit accounts are subject to change without prior notice. 


Q. What is the maximum deposit tenure available under the scheme?

A. The bank does not specify the maximum deposit tenure available. You can visit the nearest branch to discuss the same with the bank staff. 


Q. When is a second-tier rate applicable?

A. Second-tier rates are applicable when you deposit an aggregate amount above RM1 million. If the aggregate deposit amount is below RM1 million, the rates mentioned in the first table will be applied.

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