• Public Bank Fixed Deposit

    Public Bank Fixed Deposit

    One of the most convenient ways to save money, is to invest a little amount of money in safe saving instruments. Gold has been a stable option, until very recently when Gold prices have been quite unpredictable like any other commodity market. However, another saving instrument which is not only safe with zero risks, but also can be managed easily by individuals are fixed deposit and the one from Public Bank in Malaysia, has a hoard of features to make the most of. Public Bank interest rates, that you earn through the fixed deposit are reasonably higher, offering attractive interest rates on deposits. Opening an FD account takes little time or effort and has the least amount of hassles at Public Bank. Also, if you wish to apply as an entity such as club, society or organization, you can do so, besides the regular individual application.

    People who do not reside in Malaysia, but have are originally non-residential Malaysians, can also open this account. The tenures are also set as variables to allow people to enjoy the product to the fullest. There is also the option for auto renewal to help make life easier for everyone, both the bank as well as the depositor. There is also overdraft facility available, which has attractive rates. Read on to know more about this deposit scheme form Public Bank.

    Features of Public Bank Fixed Deposit

    Public Bank Fixed Deposits come with a host of features and benefits, some of which are mentioned below.

    • Attractive interest rates – Public Bank Fixed Deposits offer extremely competitive and attractive interest rates on deposits.
    • Hassle free process – Opening a fixed deposit account with Public Bank is simple and hassle free.
    • Flexibility – Accounts can be opened by individuals and entities alike (clubs, societies, etc.), ensuring no one is left behind.
    • Non Resident accounts – FDs can be opened by non-residents also.
    • Flexible tenure – Public Bank FDs come with flexible tenures designed to suit individual requirements.
    • Automatic renewal – One can opt for automatic renewal of accounts, making things simpler in the process.
    • Overdraft – Overdraft facility at attractive rates is available to account holders.

    Public Bank Fixed Deposit Schemes

    Public Bank offers two Fixed Deposit Accounts to customers, each catering to a different requirement. These two plans are mentioned below.

    1. Public Bank PLUS Fixed Deposit Account – This Fixed Deposit is a safe investment option for individuals who have worked hard to earn their money. It allows their money to grow steadily over a period of time, offering attractive interests rates and flexible tenures.
      • Ease of opening account for persons (resident and non-resident).
      • Ease of starting accounts for partnerships, business entities, organizations, clubs or societies.
      • Flexible tenure period ranging from 1 to 60 months and in multiples of 1 month.
      • Minimum placements: for 1 month - RM5,000 and for 2 months and above - RM1,000
      • They provide Automatic renewal for your ease.
      • Interest is payable at every 6 months for FD receipts of 13 months and above.
      • Optional overdraft facility of up to 100% margin at attractive rates.
    2. PB Golden 50 PLUS Fixed Deposit Account – This product from Public Bank is designed especially for senior citizens, with an intention of offering them stability and security during times of need. Higher interest rates and low charges make this ideal for senior citizens looking for peaceful retirement options.
      • This is an exclusive plan for senior citizens.
      • Accounts can be easily opened for individuals (resident and non-resident) aged 50 years and above. One of the depositors must be aged 50 years and above for joint accounts.
      • Attractive profit rates offered by the bank.
      • Optional overdraft facility is available up to 100% margin.
      • Introducer is not required to start an account.
      • Service charge will be waived off for the current account.
    3. Public Bank eFixed Deposit Account - You can open a Public Bank eFixed Deposit Account online. You get competitive interest rates on your deposits.

    4. Public Bank Foreign Currency Fixed Deposit Account - This is a multi-foreign currency account that has designated account for each currency. This account is available for all individuals and business entities.

    Public Bank Fixed Deposit Interest Rates

    Interest rates offered by Public Bank depend on the tenure of a particular account, with rates varying accordingly. Accounts with longer tenures generally earn higher interest rates compared to lower tenures. The tables below highlight the interest rates for Public Bank PLUS Fixed Deposit Account and Public Bank Golden 50 PLUS Fixed Deposit Account.

    PLUS Fixed Deposit Rates PB Golden 50 PLUS Fixed Deposit PB eFixed Deposit Rates
    Tenure Rate (% p.a) Rate (% p.a) Rate (% p.a)
    1 Month 2.95 3.05 2.95
    2 Months 2.95 3.05 2.95
    3 Months 3 3.1 3
    4 Months 3 3.1 3
    5 Months 3 3.1 3
    6 Months 3.05 3.15 3.05
    7 Months 3.05 3.15 3.05
    8 Months 3.05 3.15 3.05
    9 Months 3.05 3.15 3.05
    10 Months 3.05 3.15 3.05
    11 Months 3.05 3.15 3.05
    12 Months 3.1 3.2 3.1
    13 to 60 Months Negotiable 3.2 3.1
    Effective 28 July 2016

    How to open a Public Bank Fixed Deposit

    Individuals wishing to open a FD account with Public Bank need to meet some basic eligibility criteria. On successfully meeting them, one needs to fill up an application form and provide basic details like name, contact number, email id, etc. They might also be required to submit necessary documents for verification, as required by the bank.

    FAQs on Public Bank Fixed Deposit

    Q. Can one open a joint Public Bank Golden 50 PLUS Fixed Deposit Account?

    A. Yes, a joint account can be opened, subject to at least one depositor being over 50 years.

    Q. Is there an overdraft facility available?

    A. Yes, an overdraft facility is available for both accounts.

    Q. When is the interest credited?

    A. Interest is credited on fixed dates, payable half yearly for the PLUS Fixed Deposit Account.

    Q. Does one require an introducer in order to open a Public Bank Golden 50 PLUS Fixed Deposit Account?

    A. No, there is no need for an introducer to open this account.

    Q. How can one contact the bank to open a FD account?

    A. Individuals wishing to open a FD account can call the bank at their 24/7 customer care centre or directly visit any branch.

    Other Products offered by Public Bank:

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

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