Fixed Deposit
Fixed deposit or time deposit is a deposit account paying a fixed rate of interest for a fixed term, normally from 30 days to a year or more. You cannot withdraw funds before maturity without giving advance notice, and early withdrawal may lead to partial loss of interest. Upon maturity of your fixed deposit, your bank may automatically renew it together with the interest earned, alternatively, you may transfer it to your other accounts or withdraw the funds.

Interest
In Malaysia, the interest earned in fixed deposit accounts also varies according to the amount deposited, the length of time and differs from bank to bank.  Usually, the annual interest rate is in the region of 3% for a one-month deposit and goes up to about 3.5% for a 60-month deposit.  It would be advisable for you to check with your bank on the latest interest rates applicable.

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