It is already a month into the New Year but it feels like Christmas was just yesterday. It is the time of the year again that all employees have been anticipating! Zack have just received his annual bonus. However, this question has been bothering Zack for the past 2 weeks. How much should I place into fixed deposit?” It’s a tough decision! He needs to set aside a portion of cash for emergency fund before putting the rest into FD. 

If Zack withdraw his fixed deposit before maturity, the losses he would incur are as follow:   

1) For fixed deposit of 1 – 3 months, a premature withdrawal would result in an instant loss of ALL interests generated. For fixed deposit of more than 3 months, a premature withdraw during the first 3 months would also result an instant loss of ALL interests generated. 

2) On the other hand, if the premature withdrawal is made after 3 months, you will only earn 50% of the interest rate offered. The balance 50% of the interest will be retained by the bank as charges for early withdrawal.


In efforts to take on this concern, FINPosts sourced all the banks and their financial instruments equivalent to fixed deposit, bearing in mind the criteria for low risk appetite and guaranteed return. After thorough research, we have concluded that OCBC 360 savings account is currently the best alternative as it is offering a rate equivalent to FD and also the highest return compared to all savings account in the market and it is just a SAVINGS ACCOUNT. Which means it gives you the flexibility of withdrawing your money anytime without having the fear of forfeiting your return like FD. In fact, all of you are encouraged to have this savings account for your daily spending account!

OCBC 360 savings account offers a base rate 0.5%. Only 3 simple steps are to be taken to be entitled for an additional 1.2% return for each requirement fulfilled.

  1. To deposit at least RM 500 every month. You can even immediately withdraw it out as OCBC just wants the transaction shown in your account. ✔️
  2. To pay 3 online bills every month. Paying for credit card is also considered in this category. ✔️
  3. To spend at least RM 500 on your OCBC card(s) every month. If you have a Great Eastern policy, do get a OCBC card to enjoy 0% 12 months instalment for your insurance policies. This way, you get to prevent lapsation and also save on the service charges charged for payment modes other than yearly. ✔️


By fulfilling all 3 requirements, we will get to enjoy a maximum of 4.1% and the return is given on a monthly basis on the 14th business day of the following month. The return will vary as our balance varies every month.

Let’s do a simple calculation for your understanding. Say you have a RM 50,000 balance, this will be the return you’ll receive for the month.


Recommendation is based on the top 3 highest interest rate savings account in the market:

This is not a paid advertisement as FINPosts is a strictly neutral party which aims to deliver only the best financial recommendations for our readers. Do shoot us an email if you have better alternatives or suggestions and we would be more than thrilled to share your thoughts with others on our site. Stay tune for our next exciting post!

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