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The 4.1% may be a current offer for  set period, or with other Ts&Cs. The 12 month fixed deposit rate is followed for one cycle only, so even if you may start off at 4.1% the next year it may be different etc. It's not possible to change banks with the FD. Usually CIMB or Maybank offer a slightly higher rate of say 3.15 v. 3.10. But as mentioned above, it fluctuates. Do remember to have your interest paid out each year and not added to the principle. (I just checked and the 4.1% was only valid for placements made up until 30/06/2017 - so now it would be board rates given)

Thanks, Gravitas. You have answered both of my recent posts and thousands of others. Great you are sharing your experiences. It is encouraging.

hi
you would have to fish around to get the best rates, as the interest rates fluctuate
i put mine for 5 years, which gives a slightly better rate
cheers

Dear Ceasar, the 5 y. FD will be accepted by Mm2h authorities? Thank you for sharing your experience.
Sven.

When I did my MM2H, there was no time period for the FD, it was permanent. I opened the FD and closed it only when I decided that I did not want to continue with the MM2H and to move away from Malaysia. To close it I had to get a letter from the Ministry of Tourism. Not sure if I could have done a 5 year one, but I doubt it.

Since the MM2H is a 10 year thing, opening an FD for 5 years might not be acceptable, it might have to be permanent.

Different banks have different special deals at different times. I've used Ambank quite a bit in the past for my FD's, but once the period for the special rates are up the rate reverts to a lower more general rate. It might be 4.1% in the beginning and then reverts to say 3.3% when that period is up. Banks often offer those special rates for "fresh" money so if the same bank comes along with another offer you might not be eligible to get it. But if you can find a new deal with a different bank that would work as you'd be using "fresh" money. That's why it may be better to keep switching banks, but of course that wouldn't work with the MM2H Fixed Deposit.

By the way, if you have say MYR200k or more in total investments in a bank you may get to have a Privelage or Priority or Premier status and that allows you to have a personal account manager who will advise you and make things a lot easier for you and your money over the phone or via whatsapp.

Lastly, I did have accounts with several banks in Malaysia, including Maybank and CIMB, but didn't particularly like the service with either of those two.