A fixed deposit is a form of savings kept with a banking institution for a stated period. The rate of interest for a fixed deposit account is generally higher than a normal savings account. Most banking institutions offer fixed deposit accounts of various tenures to cater for the needs of consumers.
You can check out the fixed deposit accounts offered by the banking institutions from their respective websites.
some people deposits their savings in a Fixed Deposits Accounts to benefit from the higher Interest Rates, but some are are just to Secured a Loan or securing a Contract / Govt Tenders
Currently banks in Malaysia has various types of FD accounts to cater different segments of Markets - Interest may varied from 3.0 - 3.6% . .
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