If you have some excess cash lying around, you will want to put it to use. With a fixed deposit account, you can watch as your account balance grows. While true, it’s wise to shop around and find the best account for your needs. With this in mind, here are three things to look for in a good fixed deposit account.
Highest rates: First and foremost, when you put money in the bank, you will want to enjoy a solid return on your investment. In fact, when you want to find the best FD rate in Malaysia, you will want to take your time and choose an institution offering the best rate possible. Otherwise, if you choose a random company or don’t research deposit rates, you will leave plenty of cash on the table. Remember, the sole reason you will want to put money in the bank is to make more money.
Excellent record of customer service: When you put large sums of cash in the bank, you will want to trust the bank and its employees. If not, you will struggle and not feel at ease when you deal with the bank. For this reason, you need to consider an established and well-known bank. In fact, you need to consider signing up for a Maybank fixed deposit account as you will not struggle to contact a customer service representative if something occurs. If you choose a small or unknown bank, you may suffer when you want to talk to an employee or deal with a routine issue.
Long-term rates: Often, a consumer will walk into a bank and deposit a large sum of cash thinking they will enjoy a decent long-term rate. However, banks will often draw clients in by offering a teaser rate. Then, after a few months, the bank will usually reduce the rate drastically. Fortunately, when choosing a Public Bank fixed deposit account, you can avoid this as they offer excellent rates on long-term deposits. If you don’t follow this advice, you may suffer in the future when a bank pulls the original offer and gives out a lower rate on your money.
When you want to open a fixed deposit account, don’t choose the first bank you encounter. No, you need to research your options and understand what you will enjoy out of the experience. Then, you can enjoy a solid return on your investment.