Authority: Public Bank is a major domestic bank in Malaysia founded in 1966. It has 250 local branches in the country and listed on the Malaysian Stock Exchange (Bursa Malaysia).
How to open a Public Bank Fixed Deposit in Malaysia:
- You can open this type of deposit account at a Public Bank branch in Malaysia. You can find the closest branch in Malaysia by state on the Public Bank Website: http://www.pbebank.com
- Optionally for more information about open this product you can call their customer service in Malaysia on: 1-800-22-5555
What is the eligibility for deposit insurance with your Public Bank Deposit Account:
In Malaysia for fixed deposits, individual and business depositors are protected with a maximum limit of RM250,000 coverage per depositor per member institution.
For more information please visit: PIDM - http://www.pidm.gov.my
Information to consider when opening a Malaysian Public Bank 1 Year Fixed Deposit:
Within Malaysia, the Bank Negara Malaysia (BNM) is the central bank of Malaysia, it performs the role of monetary policy decision making and is highly influential with the interest rates it sets. Public Bank is affected by these decisions, and when setting 1 year rates they would need to forecast BNM policies into the future when increasing, decreasing or keeping the same Public Bank's Malaysian Ringgit fixed deposits. In addition it will consider its internal business model when factoring when it may decide to have a competitive deposit interest rate. It may do this to attract deposits from its customers to build its funding base. For banks such as Public Bank, it can be a stable source of funding when deciding to expand its lending or reduce dependence and risk from the interbank market during times of volatility in the financial markets.
The current FD Interest Rate listed below are for a 12 month / 1 year period, please note rates are not applicable to non-SMEs and non-residents, please refer to branch for applicable rates.
The rate of 3.35% is 0.05% lower than the average 3.4%. Also it is 0.75 % lower than the highest rate.Updated May, 2016