Compare Fixed Deposits

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Fixed Deposit Comparison
Points to look for while comparing various Fixed
Deposit schemes
Report By, Aysha Maria
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• Getting a fixed deposit scheme is one of the
  safest and most popular modes of saving.
• Banks in Malaysia offer a host of fixed deposit
  products to match the financial need of almost
  all types of customers.
• While availing and retaining a fixed deposit
  scheme isnt a herculean task, the essence lies
  in spotting the scheme that suits your financial
  requirements the best.
• Here are some of the most basic and significant
  points of comparison that you should look for
  before investing your hard-earned money in the
  fixed deposit financial tool.

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Compare rates of interest offered by various banks
Compare rates of interest offered by various banks

• Malaysian economy is teeming with domestic and
  international banks that offer a host of fixed
  deposit schemes to customers. Separate schemes
  are available for customers from various
  employment backgrounds. Also Islamic banking
  fixed deposits are another variant of deposit
  schemes that are offered by banks in Malaysia.
  Amidst so many choices, there may be times when
  you will not know which scheme is the best for
  you to avail. Interest rate offered by various
  banks can be a good data point for zeroing in on
  the deposit scheme that suits your financial
  requirement the best. Rates are often closely
  coupled with deposit tenure and deposit amount.
  Based on all these parameters, a deposit that
  offers maximum returns should ideally be chosen
  by customers.

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Compare rates of interest offered by various banks
Check the financial institute with which you are
placing your deposit

• The bank with which you place your deposit plays
  a crucial role in ensuring growth and safety of
  your hard-earned money.
• It is best to go for financial entities that are
  renowned and have an established reputation as
  well as steady growth.
• This will shield your money from unforeseen bank
  collapses and resulting loss of money.

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Compare rates of interest offered by various banks
Check the frequency of interest payment

• Usually, banks offer various interest payout
  frequencies to customers. This can be
  half-yearly, quarterly, yearly or even monthly.
  Depending upon your financial requirement and
  preference of obtaining interest, choose the
  deposit scheme that offers you the most suitable
  interest payout frequency.

Click here for FD Interest Rates in Malaysia
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Compare rates of interest offered by various banks
Look for liquidity, whether available or not

• A lot of bank deposits offer flexibility of
  partially or fully withdrawing your deposit
  amount even before the maturity of your deposit.
  This gives freedom to customers to use their
  money for emergency financial needs.

If you know that you will need the deposit money
in case of any urgent financial crisis then it is
better for you to choose a fixed deposit that
offers liquidity as one of its primary features.
There are deposits that charge a small amount of
fee for partial withdrawals and there are those
too that let you withdraw partially without
paying any fee.
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Choose the one that fits your requirement the
best and use your deposit money to fulfill any of
your urgent financial needs. With the above major
data points in mind, choosing that perfect
deposit scheme amidst thousands of those
available in the market, will be a really smooth
cake walk.
Happy Depositing
Aysha Maria