Fixed Deposit Calculator Malaysia 2026
Work out the interest at maturity, the maturity amount and the effective yearly yield of a Malaysian fixed deposit, including auto-renewals.
Preview page. The rates are checked against official sources; the page is awaiting final review before it is published.
Result
This is an estimate for planning. Confirm the final figure with the bank, JPJ or LHDN before you commit.
How it's calculated
A fixed deposit, or term deposit at an Islamic bank, pays simple interest for an agreed number of months. The bank quotes a yearly rate, and the interest for the placement is that rate scaled to the tenure:
interest = principal × rate × months ÷ 12
When the deposit auto-renews, the bank places the principal plus the interest into a new deposit for the same tenure. Each placement earns interest on the previous one, so a series of renewals compounds. The effective yearly yield puts the whole series on a yearly basis:
effective yield = (maturity amount ÷ principal)^(12 ÷ total months) − 1
Worked example (the default inputs). RM 10,000.00 placed for 12 months at 3.00% a year with no renewals. Interest is 10,000 × 3% × 12 ÷ 12 = RM 300.00, the maturity amount is RM 10,300.00, and the effective yearly yield is 3.00%.
With two auto-renewals the same deposit runs for three years. The second placement starts at RM 10,300.00 and earns RM 309.00, the third starts at RM 10,609.00 and earns RM 318.27. Total interest is RM 927.27 and the final amount RM 10,927.27, still a 3.00% effective yield because each placement was a full year.
Rates differ by bank, tenure, amount and promotion, and the renewal rate is the board rate on the day of renewal. Enter the rate quoted to you rather than an average.
Short tenures, promotions and laddering
Promotional rates are usually for short tenures such as three or six months, and a 3.8% three-month promotion rolled over four times is not the same as 3.8% for a year, because the renewals fall back to the board rate. Use the renewals field with the rate you expect after the promotion to see the realistic figure. Laddering, which means splitting a sum into several deposits maturing at different times, keeps some money reachable without breaking the whole deposit and lets you catch new promotions as each rung matures.
Fixed deposit against other places for cash
A fixed deposit suits money you will not need before maturity and want protected by PIDM. Money that must stay reachable belongs in a savings or flexi account, and money that can stay invested for years may do better elsewhere. The ASB calculator on this site includes a fixed deposit comparison line for that reason. Whatever you choose, the interest on a Malaysian fixed deposit is not taxed in the hands of an individual.
FAQ
How is fixed deposit interest calculated in Malaysia?
Banks quote a rate per year and pay simple interest for the tenure: principal × rate × months ÷ 12. A 12-month placement of RM 10,000 at 3% earns RM 300; a 6-month placement earns RM 150. Interest is paid at maturity, or for longer tenures sometimes every six months. Islamic banks offer the same structure as term deposits with a profit rate based on a commodity murabahah or tawarruq contract.
What happens when a fixed deposit auto-renews?
At maturity the bank places the principal, usually with the interest added, into a new deposit for the same tenure at the board rate on that day, not necessarily the promotional rate you first had. Each renewal therefore compounds the interest. This calculator assumes the same rate on every renewal; check the rate the bank actually applies, because promotions rarely carry over.
What is the effective yearly yield?
The yield that, compounded once a year, would turn the amount placed into the maturity amount over the whole period. For a single 12-month placement it equals the quoted rate. For shorter tenures rolled over several times it is slightly higher than the quoted rate, because each renewal earns interest on the previous interest. It lets you compare a 3-month promotion against a 12-month rate fairly.
Is my fixed deposit protected?
Deposits with a PIDM member bank in Malaysia are protected up to RM 250,000 per depositor per bank, covering principal and interest, with conventional and Islamic deposits counted separately. Check that the institution is a member and keep each bank below the limit if the amount is large.
What if I withdraw before maturity?
Most banks pay no interest at all on a conventional fixed deposit withdrawn before three months, and a reduced rate after that; some pay nothing on early withdrawal regardless of the period. Partial withdrawal is often allowed in multiples of RM 1,000 with the same penalty on the part withdrawn. Choose the tenure you are confident you can leave untouched, and ladder several deposits if you may need some of the money.