Fixed Deposit / Term Deposit
Redeem Deposit
1. How do I redeem my Fixed Deposit/Term Deposit account?
You may go to your Fixed Deposit/Term Deposit account details > Tap/click on Redeem FD
From 1 October 2024 onwards, redeem of deposit will require AmSecure authorisation if the transaction amount exceeds RM10,000.
2. Can I use the printed confirmation receipt to redeem in cash?
No. You can redeem it via AmOnline only.
3. Why was my Fixed Deposit/Term Deposit maturity date 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.
4. Can I redeem a Fixed Deposit/Term Deposit placed at branch in AmOnline?
No. You need to redeem it at the nearest AmBank branch.
5. What do I do if I want to change the tenure or principal amount on my Fixed Deposit/Term Deposit?
You can’t the tenure and the principal amount. You can either perform premature redemption or redeem upon maturity date on AmOnline. Thereafter, you may make the new placement on the same day.
6. Can I perform a premature redemption?
Yes, you can. However, effective Tuesday, 1 January 2019 onwards, all premature redemption will have NO interest/profit payable.
7. Can I perform partial redemption?
No, partial redemption is not available.
8. Will I be able to cancel the Fixed Deposit/Term Deposit account?
Placement of Fixed Deposit/Term Deposit is online and immediate. Hence if you wish to cancel it, you can perform an account redemption immediately.
9. My Fixed Deposit/Term Deposit has been pledged for application; can I still redeem the Fixed Deposit/Term Deposit?
No, redemption is not allowed if the Fixed Deposit/Term Deposit has been pledged or held as collateral for another product application. Please call AmBank Contact Centre for more information.
