Malaysian banks race to get deposits


The race for deposits comes after CIMB Group Bhd, the second largest lender, fixed its fixed deposit rates at 3.4% for a 12-month tenure two weeks ago from 3.15% previously. Analysts described the rate set by CIMB as aggressive and could trigger another round of competition for low cost funds.

PETALING JAYA: Malaysian banks are racing to increase their stash of deposits amid concerns on rising loan-to-deposit (LD) ratios.

This comes after CIMB Group Bhd, the second largest lender, fixed its fixed deposit rates at 3.4% for a 12-month tenure two weeks ago from 3.15% previously.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

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