Fixed Deposits / Term Deposits on AmOnline

 

1. How do I place new deposit?
I transfer from my AmBank account:
  • After login into your AmOnline:
    • If you are on iOS, tap on “More” at the bottom of the screen and select “Fixed/Term Deposit”.
    • If you are on Android, tap on the menu button at the top left and select “Fixed/Term Deposit”.
    • If you are on desktop or Mobile web browser, select “Fixed/Term Deposit” at the left menu.
  • Select “Place New Deposit”.
  • Select the product that suits your needs from the “Product Name” dropdown.
  • Select the range of tenure from the “Tenure” dropdown.
  • Enter the placement amount.
  • Select either “Transfer to account” or “Add to principal” for the interest/profit payment upon maturity to be transferred to.
  • If you have selected “Transfer to account”, select from your available Current/Savings Account in which the interest/profit will be transferred to.
  • Select your Current/Savings Account from the dropdown.
  • Read and accept the Terms & Conditions and click “Next” to proceed.
  • Check the details and then select “Confirm” to complete the placement.

I transfer fund from my Other Bank account (via FPX):
  • After logging into your AmOnline Web, select “Fixed/Term Deposit” at the left menu.
  • Select “Place New Deposit”.
  • Select the product that suits your needs from the “Product Name” dropdown.
  • Select the tenure from the “Tenure” dropdown.
  • If you have selected “Transfer to account”, select from your available Current/Savings Account in which the interest/profit will be transferred to.
  • Select From Account “Other Bank (FPX)” and select your bank of your choice to deduct the funds from.
  • Read and accept the Terms & Conditions and click “Next” to proceed.
  • Check the details and then select “Confirm”.
  • After you click “Confirm”, you will be directed to the selected bank’s online banking portal to complete the transaction.
  • After you have completed the transaction, you will see a transaction summary page for the FPX transaction.
  • Login to AmOnline to view the final confirmation of the transaction.
2. How do I place a new deposit using a Reward Code?
  • After login into your AmOnline:
    • If you are on iOS, tap on “More” at the bottom of the screen and select “Fixed/Term Deposit”.
    • If you are on Android, tap on the menu button at the top left and select “Fixed/Term Deposit”.
    • If you are on desktop or Mobile web browser, select “Fixed/Term Deposit” at the left menu.
  • Select “Place New Deposit”.
  • Select “Yes” for “Do you have Reward Code?”.
  • Input the Reward Code and click “Apply Code”.
  • Once the Reward Code is validated, the Product Name and Tenure will be automatically selected for you (you may change the selections if you wish to).
  • Enter the placement amount.
  • Select either “Transfer to account” or “Add to principal” for the interest/profit payment upon maturity to be transferred to.
  • If you have selected “Transfer to account”, select from your available Current/Savings Account in which the interest/profit will be transferred to.
  • Select the Transfer From account.
  • Select your Current/Savings Account from the dropdown.
  • Read and accept the Terms & Conditions and click “Next” to proceed.
  • Check the details and then select “Confirm” to complete the placement.
3. Why I am unable to find the option Transfer From Other Bank (FPX) in AmOnline mobile app?

Currently this option is only available at AmOnline web. Stay tuned for the mobile app!

4. What are Fixed/Term Deposit?

Fixed/Term Deposit is a service that allows you to make placement & redemption through AmOnline without the need to visit a branch.

5. What is the criteria to open Fixed/Term Deposit account?

You will need to have an AmBank or AmBank Islamic Current or Savings Account and be a registered user of AmOnline.

6. What is the minimum and maximum deposit amount?
Transfer from own AmBank account:

Fixed Deposit: The minimum amount is RM5,000 for 1 month and RM500 for tenure 2 months and above. There is no maximum amount.

Term Deposit: The minimum amount is RM1,000 for 1 month and RM500 for tenure 2 months and above. There is no maximum amount.

Transfer from Other Bank via FPX:

Fixed Deposit: : The minimum amount is RM5,000. The maximum amount is RM30,000.

Term Deposit: The minimum amount is RM5,000. The maximum amount is RM30,000.

7. How I can place FD/TD-i worth more than RM30,000** from another bank via FPX ?

You could split the amount.

For example, if you wish to place FD/TD-i worth RM50,000, you could split the amount into 2 separate placements of same or different amounts (both placements could be RM25,000 or split as RM30,000 and RM20,000).

**Note: This is subject to your selected bank’s FPX transaction limits

8. How do I redeem my deposit?
  • After login into your AmOnline, select “Fixed/Term Deposit” then “Redeem Deposit”.
  • Select the account to redeem from the “Fixed/Term Deposit account to redeem” dropdown.
  • Choose the account to redeem to and you need to check “I agree to redeem” to proceed.
  • Check the details and then select “Confirm” to execute the redemption.
9. Why my Fixed/Term Deposit maturity date was not same as per the maturity date during my placement?

With effect from Friday, 12 April 2019, the policy for maturity date for all existing Fixed Deposits and Term Deposits for all states will follow the Federal Territory of Kuala Lumpur’s weekend and Public Holidays as well as State Holidays calendar i.e.:

  • All maturity dates that fall on a Saturday or Sunday for all states will be shifted to Monday or the next business day, if Monday is a Public or State Holiday in the Federal Territory of Kuala Lumpur.

    Example 1: if the Fixed Deposits/Term Deposits matures on 10 May 2019 (Friday which is a weekend for the states of Kelantan and Terengganu), the maturity date will remain unchanged i.e. 10 May 2019 as it is a working day in Kuala Lumpur.

  • All maturity dates that fall on a Federal Territory of Kuala Lumpur’s Public or State Holiday, the maturity date will be shifted to the next business day, regardless of the states.

    Example 1: if the Fixed Deposits/Term Deposits matures on 1 May 2019 (National Public Holiday), the maturity date will then be shifted to 2 May 2019, with the interest/profit to be paid up to 2 May 2019.

10. What are the interest rates / profit rates and tenures available under Fixed/Term Deposit?

You can refer to our website www.ambank.com.my/eng/rates-fees-charges.

11. When is the effective date of my Fixed/Term Deposit placement? When will the Fixed/Term Deposit account reflect in AmOnline?

Fixed/Term Deposit placement will take effect and displayed in AmOnline immediately.

12. Do I need to link my Fixed/Term Deposit account to AmOnline?

No. Fixed/Term Deposit account will link to your AmOnline automatically.

13. Will there be a physical Fixed/Term Deposit certificate issued?

No. However, upon confirmation of placement, you can choose to print the Fixed/Term Deposit confirmation receipt for your own reference.

14. Can I use the printed confirmation receipt to redeem in cash?

No. You can redeem it via AmOnline only.

15. Can I convert a Fixed/Term Deposit placed at branch to Fixed/Term Deposit?

No. You will need to redeem the Fixed/Term Deposit first at the branch, and then make an Fixed/Term Deposit placement via AmOnline.

16. Are all Fixed/Term Deposit products Auto Renewable?

Yes.

17. What do I do if I want to change the tenure or principal amount on my Fixed/Term Deposit?

You will have the option to either perform premature redemption or redeem upon maturity date on AmOnline. Thereafter, you may make the new placement on the same day.

18. Can I perform a premature redemption?

Yes, you can. However, effective Tuesday, 1 January 2019 onwards, all Fixed Deposit/Term Deposit placements which are withdrawn before maturity will have NO interest/profit payable.

19. Will I be able to cancel the Fixed/Term Deposit account?

Placement of Fixed/Term Deposit is online and immediate. Hence if you wish to cancel it, you can perform an account redemption immediately.

20. Can I withdraw a certain amount of my Fixed/Term Deposit or make a partial redemption?

No, partial redemption is not available.

21. Who should I contact for further enquiries?

Kindly call our Contact Centre (24 hours) at +603 2178 8888.

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