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Bank & Product Name
Interest Rate
(% per year)
Features
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Asian Finance Bank Basic Savings Account-i
asian finance bank

0.00%

  • Free unlimited Over-The Counter (OTC) withdrawals
  • Free Standing Instruction to pay financing installment
  • No service charge for incidents of insufficient funds when doing Standing Instruction
Apply Now
CIMB Kwik Account

0.00%

  • Apply for your account online
  • No minimum deposit required
  • Can make online purchases without physical card
  • Minimum RM10 to apply for Kwik card (needed for withdrawal)
  • Maximum deposit is RM4,999
Apply Now
UOB eAccount
UOB

0.05%

  • Enjoy higher interest rate at 2.78% for deposit above RM20,000
  • Special Brokerage Rates - as low as 0.08%
  • Easy to manage with eStatement - view updated transaction records
  • High adjustable online transaction limit - Default limit is RM 50,000 up to RM250,000
  • Minimum initial deposit of RM 500
Apply Now
AmBank Family Special Savings Account
AmBank

0.20%

  • You can create a Special Savings Account via Internet Banking
  • Up to 10 accounts linked to your Everyday Current Account to help you save consistently and achieve your saving goals
  • Initial deposit RM50
Apply Now
AmBank Savers’ G.A.N.G
AmBank

0.20%

  • Free Coin Box with account opening of RM300 and above.
  • ATM card access.
  • 12 years & below.
  • Initial deposit RM50
  • Min balance to maintain RM10
Apply Now
AmBank Islamic Savers’ G.A.N.G Account-i
AmBank Islamic

0.20%

  • Free Coin Box with account opening of RM300 and above.
  • ATM card access
  • 12 years & below
  • Initial deposit is RM50
  • Minimum balance to maintain is RM10
Apply Now
AmBank Islamic Akaun-i Family Special Savings
AmBank Islamic

0.25%

  • You can create a Special Savings Account via Internet Banking
  • Up to 10 accounts linked to your Everyday Current Account to help you save consistently and achieve your saving goals
  • Initial deposit RM50
  • 12 years & above
  • Minimum balance to maintain is RM10
Apply Now
HSBC Basic Savings
HSBC

0.25%

  • Free ATM/Debit card
  • 8 Free ATM transactions per month at any of HSBC ATM machines
  • 18 years old & above
  • Initial RM20 deposit required
Apply Now
HSBC Amanah Basic Savings Account-i

0.25%

  • Free ATM/Debit card
  • 8 Free ATM/Debit card transactions per month at any of HSBC ATM/Debit card machines
  • 18 years old & above
  • Initial RM20 deposit required
Apply Now
Standard Chartered JustOne Personal Savings Account
Standard Chartered

0.25%

  • Fee waiver for withdrawals at over 12,000 MEPS ATMs nationwide
  • Fee waiver for withdrawals at more than 360 HOUSe ATMs nationwide
  • Fee waiver for fund transfers via Standard Chartered ATMs nationwide
  • Free fund transfers via Standard Chartered Online Banking
  • Complimentary Debit Card
  • Initial Deposit is RM1,500
  • 18 years old & above
Apply Now
Standard Chartered Basic Savings Account
Standard Chartered

0.25%

  • No service fees
  • Initial RM20 deposit required
Apply Now
RHB Basic Savings Account
RHB

0.28%

  • Introducer not required
  • Initial RM20 deposit required
Apply Now
Hong Leong Basic Savings Account
Hong Leong Bank

0.40%

  • The first 6 over-the-counter transactions visits are free
  • Domestic cash withdrawals at HLB/HLISB are free
  • International withdrawals and withdrawals at other banks' ATMs cost RM1 per transaction
  • Withdrawals via MEPs ATM network (Indo, SG, TH, KR) cost RM8 per transaction
  • Initial RM20 deposit required
Apply Now
Hong Leong Islamic Bank Basic Savings Account-i
Hong Leong Islamic Bank

0.40%

  • No introducer required
  • Initial RM20 deposit required
  • Minimum balance to maintain of RM10
Apply Now
Maybank Islamic Savings Account-i
Maybank Islamic

0.40%

  • Cashless shopping via Maybankard e-Debit (previously e-Pos)
  • Access to Maybank Kawanku Phonebanking
  • Get Treats Points with Maybank Debit Visa Card
  • RM1 deposit needed for kids below 12
  • RM250 deposit needed: adults
  • 18 years old and below
  • Club / Association / Society are allowed
Apply Now
CIMB Basic Savings Account

0.45%

  • Bankcard facility
  • Monthly statement for account with more than 20 transactions. Otherwise, quarterly posting of statement
  • Minimum opening deposit of RM20
Apply Now
Standard Chartered JustOne Preferred Savings Account
Standard Chartered

0.50%

  • Fee waiver for withdrawals at over 12,000 MEPS ATMs nationwide
  • Fee waiver for withdrawals at more than 360 HOUSe ATMs nationwide
  • Fee waiver for fund transfers via Standard Chartered ATMs nationwide
  • Free fund transfers via Standard Chartered Online Banking
  • Complimentary Debit Card
  • Optional Cheque Book
  • Initial Deposit is RM5,000
  • 18 years old & above
Apply Now
Public Bank Basic Savings Account
Public Bank

0.55%

  • Annual fee for Bankcard/ATM Card is waived
  • 6 over-the-counter & 8 ATM cash withdrawals for free each month
  • Initial RM20 deposit required
  • Minimum balance to maintain of RM20
Apply Now
UOB Basic Savings Account
UOB

0.55%

  • Enjoy the benefits of UOB Debit Mastercard
  • Accessibility to UOB personal internet banking
  • Initial RM20 deposit required
Apply Now
CIMB Prime Savings Account

0.60%

  • A unique savings account which offers up to 1% additional bonus interest rate, if there is a regular monthly saving of RM200 and above into this account.
  • One withdrawal is allowed per month, any subsequent withdrawal within the same month will be charged RM2 per withdrawal
  • Minimum initial deposit of RM1,000
Apply Now
Public Islamic Bank Basic Wadiah Savings Account-i
Public Islamic Bank

0.60%

  • Free Bankcard/ATM card. For joint account, only one Bankcard/ATM card will be issued
  • No annual fee
  • Initial RM20 deposit required
  • Minimum balance to maintain of RM20
Apply Now
RHB MySave Account
RHB

0.60%

  • Collect Clubcard Points on all spending on Tesco-RHB Debit Card (except e-debit purchases)
  • Free phone banking
  • Free Internet Banking services
  • 18 years old & above
  • Initial Deposit is RM100
  • Annual fee is RM20 for main cardholder
  • Annual fee is RM10 for additional cardholder
Apply Now
Public Bank PB Bright Star Savings Account
Public Bank

0.70%

  • Allows automatic monthly fund transfer
  • Requires a minimum daily average balance of RM500 in the account during the Programme period
  • Child must achieve the minimum achievement to gain anything.
  • Initial deposit is RM50
  • 18 years old & below
Apply Now
Public Bank PB SaveLink Account
Public Bank

0.70%

  • Minimum balance to enjoy interest is RM10,000
  • Easy access to your account through any Public Bank branch, ATM or PBeBank.com
  • Value-added BonusLink Points on every ringgit you have in your account, provided you keep a Monthly Average Credit Balance (MACB) of RM500 and above per month
  • Every one (1) Ringgit of MACB would be accorded 0.02 BonusLink Points
  • Extra BonusLink Points would be awarded for every Ringgit you spend to purchase Banker's Cheques for MIDF/MIH public share issue via debiting of PB SaveLink Account over the counter, subject to a minimum purchase of RM2,000
  • Initial Deposit is RM500
  • Minimum balance to maintain is RM20
Apply Now
Bank Muamalat Basic Savings Account
Bank Muamalat

0.75%

  • First two Bank GIRO transactions each month will be charged at RM0.50 each. The rest at RM2.00
  • Initial RM20 deposit required
Apply Now
Bank Rakyat Basic Savings Account-i Nuri
Bank Rakyat

0.75%

  • Basic saving account
  • 12 years old and below
  • Minimum Initial Deposit RM10
  • Withdrawal is limited to once a month
Apply Now
CIMB Islamic Basic Savings Account-i

0.75%

  • Free savings passbook
  • ATM card (on application)
  • Internet banking facilities i.e. fund transfer, bill payment and account enquiry
  • 18 years old & above
  • Initial Deposit is RM20
  • Joint account allowed
Apply Now
CIMB Regular Savings Account

0.80%

  • Extensive network of ATMs and Cash Deposit Machines (CDMs) at more than 300 conveniently-located branches to help you meet you cash needs
  • Individuals aged 18 years and above who are either residents or non-residents. Minimum initial deposit for statement savings account - RM250 or passbook savings account - RM500
Apply Now
BSN GIRO-i eSaver
BSN LOGO

0.85%

  • Waiver on annual fee
  • Minimum initial deposit of RM500.
Apply Now
CIMB Islamic Wadiah Savings Account-i

0.90%

  • Internet Banking facility
  • Principal deposit guaranteed under the concept of Wadiah Yad Dhamanah
  • ATM withdrawal limit up to RM5,000
  • Minimum initial deposit of RM500
Apply Now
CIMB Islamic EcoSave Savings Account-i

0.94%

  • ATM card - with up to RM5,000 ATM withdrawals (on application).
  • Cash incentive of RM5 (if there are no over-the-counter transactions for the month) and an average monthly balance of RM5,000 a month is maintained.
  • Minimum balance to maintain is RM10
  • Initial Deposit is RM250
  • 18 years old to 50 years old
  • Clubs/Associations/Societies whose activities are not prohibited by Syariah.
Apply Now
BSN Basic Savings Account-i
BSN LOGO

0.95%

  • Based on Shariah principle - Wadiah
  • Initial deposit of RM20
Apply Now
BSN Basic Savings Account
BSN LOGO

0.95%

  • Savings Passbook provided
  • Waiver of annual fee for Bank Card / ATM Card
  • Free ATM Mini Statement
  • Minimum balance to maintain is RM10
  • RM20 will be charged if account is closed within 3 months of opening
Apply Now
Alliance Bank Savings Account
Alliance Bank

1.00%

  • Savings passbook for your records and to facilitate deposits and withdrawals
  • Cheque eXpress Service & Cash Deposit Machines for convenient cheque/cash deposit
  • Initial Deposit RM250
  • 12 years & above accompanied by guardian/parent
  • Min balance to maintain RM20
Apply Now
Alliance Bank Basic Savings Account
Alliance Bank

1.00%

  • Discounted fee for the first two GIRO transactions in a month
  • Initial RM20 deposit required
  • Minimum balance to maintain of RM20
Apply Now
Alliance Islamic Bank Savings Account-i
Alliance Islamic Bank

1.00%

  • Savings passbook for your records and to facilitate deposits and withdrawals.
  • ASLAM International Debit cum ATM Card for local and worldwide usage (only applicable for Personal & Joint Account).
  • Allianceonline self-banking services.
  • Minimum initial deposit of RM250
  • 18 years old & above
Apply Now
Alliance Islamic Bank Basic Savings Account-i
Alliance Islamic Bank

1.00%

  • Discounted fee for the first two GIRO transactions in a month
  • No issuance and annual fee charges if you apply for the ASLAM International Bank Card
  • Initial RM20 deposit required
  • Minimum balance to maintain of RM20
Apply Now
AmBank Everyday Savings Account
AmBank

1.00%

  • Nationwide e-Banking Centres for easy depositing.
  • Manage the account conveniently via AmOnline Internet Banking.
  • Statement will be sent to customers on a monthly basis.
  • Initial deposit RM200
  • Min balance to maintain is RM10
Apply Now
AmBank Islamic Basic Savings Account-i
AmBank Islamic

1.00%

  • Enjoy unlimited ATM withdrawals and over the counter transactions at an annual fee of RM8.
  • Convenience of e-Banking Centres and AmOnline Internet Banking facility.
  • Initial Deposit RM20
  • 12 years & above
Apply Now
Bank of China Malaysia Basic Savings Account

1.00%

  • Interest bearing passbook account
  • Account can be opened singly or jointly
  • Initial Deposit of RM20.
Apply Now
CIMB AirAsia Savers Account

1.00%

  • Earn 250 AirAsis BIG Points with every RM1,500 average quarterly balance in your CIMB Bank AirAsia Savers Account
  • Enjoy special low fares to selected destinations via AirAsia
  • Get E-Gift Voucher on your birthday month if you maintain an average monthly balance of RM3,000
  • Get RM5 for each month that you do not conduct an over-the-counter transaction and maintain an average monthly balance of RM5,000.
  • 18 years old & above
  • Initial Deposit is RM250
  • Joint account allowed
Apply Now
Citi Basic Savings Account

1.00%

  • No service fees
  • Initial RM20 deposit required
Apply Now
Hong Leong Islamic Multi-Tier savings account -i
Hong Leong Islamic Bank

1.00%

  • Profit calculated daily credited monthly. ATM services at over 200 strategic locations throughout Malaysia and access to over 2,500 MEPS throughout country
  • Muslim and Non Muslim individuals aged 18 years old and above
Apply Now
Public Bank Young Achiever Savings Account
Public Bank

1.00%

  • ATM card to account holders 12 years old and above
  • 18 years old & below
  • Initial Deposit RM500
  • Minimum balance to maintain RM20
Apply Now
Public Bank PLUS Savings Account
Public Bank

1.00%

  • Minimum balance to enjoy interest is RM3,000
  • Initial Deposit is RM250
  • Clubs/Associations/Societies
  • Minimum balance to maintain is RM20
Apply Now
RBS Basic Savings Account
royal bank of scotland - rbs

1.00%

  • n.a.
  • Initial RM20 deposit required
Apply Now
RHB Passbook Savings Account
RHB

1.00%

  • Multi tiered, calculated daily and credited half-yearly
  • Initial Deposit RM250
  • RM20.00 on accounts closed within 6 months from date it is opened
Apply Now
RHB Statement Savings Account
RHB

1.00%

  • RM0.50 for the 1st two over-the-counter Inter Bank Giro transactions within the month
  • Free Internet Banking services
  • RHB Bankcard
  • No Passbook required
  • 18 years old & above
  • Initial Deposit is RM100
Apply Now
Standard Chartered JustOne Priority Savings Account
Standard Chartered

1.00%

  • Fee waiver for withdrawals at over 12,000 MEPS ATMs nationwide
  • Fee waiver for withdrawals at more than 360 HOUSe ATMs nationwide
  • Fee waiver for fund transfers via Standard Chartered ATMs nationwide
  • Free fund transfers via Standard Chartered Online Banking
  • Complimentary Debit Card
  • Dedicated Relationship Managers & Service Channels
  • Fee waiver for withdrawals at Visa/Plus or MasterCard/Cirrus network ATMs worldwide
  • Fee waiver for outward telegraphic transfer within Standard Chartered Bank's network
  • Initial Deposit RM10,000 OR maintain RM20,000 in JustOne Proprity Current Account
  • 18 years old & above
Apply Now
UOB Passbook Savings Account
UOB

1.00%

  • Watch the growth of your savings through your stylishly designed passbook
  • Interest calculated on daily basis and is credited into your account twice yearly
  • Minimum initial deposit of RM 5000
Apply Now
UOB Saving Plus
UOB

1.00%

  • UOB Debit MasterCard
  • Passbooklesss
  • Online access to banking
  • Initial Deposit is RM2,000
  • 18 years old & above
Apply Now
Public Islamic Bank Bestari Savings Account-i
Public Islamic Bank

1.01%

  • Free unlimited withdrawals
  • Automatic conversion to Wadiah Savings Account-i when the account holder turns 18 years
  • Hibah (if any) will be payable at the Bank’s discretion
  • Ease of opening for individuals or joint account (with an adult) up to 18 years old with initial deposit of RM10
Apply Now
Asian Finance Bank Mudharabah Savings Account-i
asian finance bank

1.05%

  • 24 hours - 7 days Electronic Banking services
  • Ad-hoc statements every 6 months
  • Free ATM Card. (for the 1st time issuance)
  • Free unlimited withdrawals
  • Free unlimited Over-The Counter (OTC) withdrawal transactions
  • No service charge will be imposed for incidents of insufficient funds when executing the Standing Instruction.
  • Minimum balance to maintain is RM20
  • 12 years & above
  • 18 years old & above for ATM Card
Apply Now
BSN GIRO-i Savings Account-i
BSN LOGO

1.06%

  • Card & Account passbook/statement RM12
  • Annual fee RM10
Apply Now
Alliance Bank Alliance Senior Savers
Alliance Bank

1.20%

  • Alliance Privilege Banking membership when a minimum deposit of RM200,000 and above is maintained at all times 
  • 48 years & above
  • Minimum balance to maintain is RM50
  • Initial deposit of RM1,000
Apply Now
AmBank Basic Savings Account
AmBank

1.20%

  • 6 free over-the-counter withdrawals per month
  • 8 free ATM cash withdrawals per month
  • Minimum initial deposit is RM20.
  • Minimum balance to maintain of RM10
  • Minimum age is 12 years old & above.
Apply Now
Maybank Kawanku Savings Account
Maybank

1.20%

  • OTC service at any Maybank branch
  • Kawanku Phone Banking access
  • Autodebit services
  • E-Kawanku Savings Account that offers the convenience of an ATM Card or Debit Card instead of a passbook.
  • Initial Deposit RM250 as an Individual
  • RM50 with a letter of employment
Apply Now
Public Bank 50 PLUS Savings Account
Public Bank

1.26%

  • Service charge waived
  • Discounts on selected insurance products with Lonpac Insurance Berhad, or creation of will with PB Trustee Services
  • 50 years & above
  • Joint Account, where one must be above 50
  • Introducer is not required
  • Initial Deposit is RM2,000
  • Minimum balance to maintain is RM20
Apply Now
Maybank Basic Savings Account
Maybank

1.30%

  • No service or maintenance charge as long as a minimum balance of RM20 is maintained
  • Initial RM20 deposit required
Apply Now
Alliance Bank Alliance Buddy
Alliance Bank

1.40%

  • Free withdrawals
  • Do not make more than 1 withdrawal within 1 calendar month for 12 consecutive months
  • Place a minimum total deposit of RM100 every month for 12 consecutive months
  • Initial deposit RM50
  • 18 years old & below.
  • Minimum balance to maintain is RM1 or more.
Apply Now
Hong Leong Senior Savers Savings Account
Hong Leong Bank

1.40%

  • You are protected with FREE Personal Accident Insurance Coverage of RM30,000. For your convenience, you can conduct your banking via our nationwide branches, ATM network, Hong Leong Phone Banking and Hong Leong Connect.
  • Senior citizens age 50 and above only
Apply Now
Alliance Islamic Bank Alliance Junior Smart Saver-i
Alliance Islamic Bank

1.50%

  • Junior Debit Card-i for cash withdrawal and cashless purchase at any authorized MEPS and MasterCard merchants
  • Provides children some financial independence while allowing parents or guardian full control on the monthly withdrawal limit
  • Only eligible for children below the age of 18 accompanied by parent/guardian
Apply Now
Kuwait Finance House Basc Savings Account-i
Kuwait Finance House

1.50%

  • Based on Shariah principle of Mudharabah (profit sharing).
  • Non-passbook savings account
  • 18 years and above
  • Initial RM20 deposit required
Apply Now
Alliance Bank Alliance My eSaving Account
Alliance Bank

1.75%

  • Internet-based personal savings account
  • No Savings passbook
  • Cheque eXpress Service & Cash Deposit Machines for convenient cheque/cash deposit
  • Alliance My eSaving Debit Mastercard is issued upon opening of account
  • Initial Deposit RM250
  • Min balance to maintain RM20
  • 18 years old & above.
  • 18 years old & below: joint holder in Trust or Beneficiary
Apply Now
Alliance Islamic Bank Alliance My eSaving Account
Alliance Islamic Bank

1.75%

  • Alliance My eSaving Debit MasterCard-i is issued upon opening of account
  • Allianceonline self-banking service
  • Internet-based personal savings account
  • Minimum account opening amount of RM250
Apply Now
Maybank Islamic Basic Savings Account-i
Maybank Islamic

1.75%

  • The Bank may at its discretion pay hibah (gift) to the depositors
  • No service or maintenance charge as long as a minimum balance of RM20 is maintained
  • Initial RM20 deposit required
Apply Now
Maybank Golden Savers Savings Account
Maybank

1.76%

  • Passbookless. Online access to banking.
  • Maybank Visa Debit, allows you to spend without cash or cheques.
  • 50 years & above
  • Initial Deposit is RM1,000
  • Minimum balance to enjoy interest is RM1,000
  • Joint account is allowed
Apply Now
Bank Muamalat BeeSTAR-i Savings Account
Bank Muamalat

2.00%

  • Free 5 withdrawals per month for account balance RM 5,000 and above which is maintained throughout the entire month: MEPS inter-bank ATM withdrawals
  • A depositor is entitled for 1-year free coverage of Takaful PA and Khairat upon opening of account.
  • Free goodies upon opening of BeeSTAR-i Savings Account within a specified deposit a mount range (while stocks last).
  • 18 years old & below.
  • Initial Deposit is RM250
  • Minimum balance to maintain is RM10
Apply Now
Bank Muamalat Al-Mudharabah Savings Account
Bank Muamalat

2.00%

  • Free 5 withdrawals per month for account balance RM 5,000 and above which is maintained throughout the entire month: MEPS inter-bank ATM withdrawals
  • A depositor is entitled for 1-year free coverage of Takaful PA and Khairat with an initial deposit of RM 5,000 and above upon opening of the account.
  • Initial Deposit is RM10
  • Minimum balance to maintain is RM10
  • 18 years old & above
Apply Now
BSN GIRO eSaver
BSN LOGO

2.00%

  • Interest based savings account with online convenience
  • High multi-tiered interest rates
  • 5% bonus interest on the interest for minimum monthly balance of RM5,000
  • Minimum balance to maintain is RM100
  • 18 years old & above
Apply Now
Mach Dream Jar Savings Account
Mach by Hong Leong Bank

2.00%

  • RM2 cash reward for every RM500 goal amount achieved
  • Initial RM50 deposit required (but not more than the goal amount)
  • Minimum value to maintain of RM50
Apply Now
RHB MaxSave Account
RHB

2.01%

  • Free phone banking
  • Free Internet Banking services
  • 12 years & above
  • Initial deposit is RM200
Apply Now
AFFIN ISLAMIC Savings Account-i
AFFIN ISLAMIC BANK

2.05%

  • A Shariah-compliant product
  • Statement or passbook for easy tracking of your transactions
  • Initial deposit of RM100
Apply Now
Hong Leong Premium Savings Account
Hong Leong Bank

2.15%

  • Premium Savings Account is a high interest savings account that gives the flexibility and choice to earn a higher savings interest provided the savings is retained for a fixed period of time, ranging from 31 to 179 days
  • Minimum RM10,000 up to a maximum of RM2 million per customer
Apply Now
AFFIN ISLAMIC Affin Barakah Charity Account-i
AFFIN ISLAMIC BANK

2.20%

  • A Shariah-compliant product
  • Save and donate by providing the opportunity to help the needy with ease and convenience
  • Initial deposit of RM100
  • No age restriction
Apply Now
Maybank Maybank2u Savers-i
Maybank

2.20%

  • Passbookless. Online access to banking.
  • Cashless shopping with Maybank Debit
  • Unlimited withdrawing with an ATM Card (An ATM card is RM8 annual fee)
  • 18 years old & above
  • Minimum balance to maintain is RM250
  • Initial Deposit is RM250
Apply Now
Maybank Maybank2u Savers
Maybank

2.22%

  • Passbookless. Online access to banking.
  • Cashless shopping with Maybank Debit
  • Unlimited withdrawing with an ATM Card (An ATM card is RM8 annual fee)
  • 18 years old & above
  • Minimum balance to maintain RM250
  • Initial Deposit RM250
  • Minimum balance to enjoy interest RM2,000
Apply Now
AFFINBANK Junior Saver
Affin Bank

2.40%

  • Open an Junior Saver savings account with just RM1.00
  • Free personal accident coverage of 5 times the saving balance up to maximum RM50,000
  • Initial deposit of RM1.00
  • 12 years old & below
Apply Now
BSN SEDAR Account
BSN LOGO

2.50%

  • Fixed and attractive returns
  • Bonuses up to 30% in interest earned
  • 18 years old & above
Apply Now
AFFINBANK Affin Plus
Affin Bank

2.60%

  • Have the convenience of cheque writing, combined accounts for easy management, and earn at great interest rates
  • 18 years and above
Apply Now
AFFINBANK Saving Account
Affin Bank

2.65%

  • Basic saving account
  • Individuals, non-profit organisations etc
  • Initial deposit of RM100
  • 12 years old & above
Apply Now
Maybank Islamic Golden Savers Savings Account-i
Maybank Islamic

2.70%

  • Passbookless. Online access to banking
  • Maybank Visa Debit allows you to spend without cash or cheques
  • Joint account is allowed
  • 50 years & above
  • Initial Deposit is RM1,000
Apply Now
AFFINBANK AffinGOLD
Affin Bank

2.80%

  • Free Personal Accident Insurance
  • A choice of either passbook, monthly statement or current account
  • 10% discount on General Insurance/ Takaful products, best price for will-writing and more
  • 50 years & above
Apply Now
Hong Leong Junior Savings Account
Hong Leong Bank

2.80%

  • 1st Withdrawal OTC is free per month
  • 2nd or subsequent withdrawals OTC will incurr a RM2 fee
Apply Now
Hong Leong Islamic Junior Savings Account -i
Hong Leong Islamic Bank

2.80%

  • Academic excellence rewards for straight A achievers
  • 1 year Takaful coverage, up to a maximum of RM1.5 million
  • Enjoy discounts from over 100 participating outlets
  • Minimum 2 account holders, whereby one of the account holders must be "Beneficiary" status and aged below 18 years
Apply Now
AmBank AmGenius
AmBank

2.95%

  • Only 1 withdrawal per month
  • Free Coin Box with account opening of RM300 and above
  • Initial deposit RM1
  • Min balance to maintain RM10
  • 18 years old & below.
Apply Now
Public Bank WISE Savings Account
Public Bank

2.95%

  • ATM card to account holders 12 years old and above
  • 6 withdrawals are allowed over 6 months. Will incur a fee for every withdrawal above the limit
  • Bonus 5% monthly interest if no withdrawals are made during the month
  • 18 years old & below
  • Minimum balance to maintain RM20
  • Initial deposit RM1
Apply Now
Maybank Yippie Savings Account
Maybank

2.97%

  • Free Coin Box (i.e. Computer Whiz & Graduate Design) when you open a Yippie account with RM250 deposit; Limited Edition Soft Toy Coin Box with RM1000 deposit
  • Cash rewards for Yippie Club members who excel in their PMR, SPM, STPM and Tertiary level exams
  • Free Personal Accident Insurance coverage of up to RM70,000 for you and your child
  • Initial deposit is RM1
  • Below 18 years old
Apply Now
Maybank imteen Account
Maybank

2.97%

  • Free Personal Accident (PA) coverage of up to RM30,000 when you maintain a minimum account balance of RM1,000
  • Passbooklesss: check and maintain your account via Maybank2u.com or any Maybank ATM
  • Cash rewards when you excel in your PMR, SPM, STPM/A-Levels and degree-level exams, with a minimum account balance of RM1,000
  • Spending limit of RM500 per day
  • 12 to 18 years old
Apply Now
Bank Rakyat Basic Savings Account-i Adult
Bank Rakyat

3.00%

  • Basic saving account
  • May be opened with or without a savings book
  • Open for all clients aged 12 and above
  • Initial RM10 deposit required
Apply Now
Bank Rakyat Basic Savings Account-i Teenager
Bank Rakyat

3.00%

  • Basic saving account
  • 15 to 21 years old
  • Minimum Initial Deposit RM10
Apply Now
Maybank Islamic Yippie-i Savings Account
Maybank Islamic

3.05%

  • Takaful Coverage plus medical benefits
  • Cash rewards for Yippie Club members who excel in their PMR, SPM, STPM and tertiary level exams
  • The higher dividend rate paid is subject to only one withdrawal per month. Dividend is credited twice (2) a year on 30 June and 31 December respectively. To enjoy this benefit, you will have to maintain the account for at least 6 months a year
  • 18 years old & below with guardians below 60 years old
Apply Now
Maybank Islamic Imteen-i Account
Maybank Islamic

3.05%

  • Free Personal Accident (PA) coverage of up to RM30,000 when you maintain a minimum account balance of RM1,000
  • Passbooklesss: check and maintain your account via Maybank2u.com or any Maybank ATM
  • Cash rewards when you excel in your PMR, SPM, STPM/A-Levels and degree-level exams, with a minimum account balance of RM1,000
  • Spending limit of RM500 per day
Apply Now
UOB FunSavers account
UOB

3.05%

  • Interest rate can be as high as 1-month Fixed Deposit rate
  • Interest calculated on daily basis and is credited into your account twice yearly
  • Minimum initial deposit of RM 1
  • You must be 18 years old and below
  • Account can be opened singly or in joint name. However, children under 12 years old must be held in trust by the parent(s) or legal guardian(s)
Apply Now
AFFIN ISLAMIC Junior Saver-i
AFFIN ISLAMIC BANK

3.08%

  • A Shariah-compliant product
  • Initial deposit of RM1.00
  • 18 years old and below
Apply Now
AFFIN ISLAMIC AFFINGOLD-i
AFFIN ISLAMIC BANK

3.15%

  • A Shariah-compliant product
  • Statement or passbook for easy tracking of your transactions
  • Initial deposit of RM1,000
  • 50 years old & above
Apply Now
Bank of China Malaysia Panda Junior Dual Currency Savings Account (PJSA)

3.15%

  • Dual Currency Savings Account: RM and CNY
  • Enjoy higher interest at 1 month’s FD rate
  • Academic Cash Reward : Highest Cash Reward
  • Initial Deposit of RM20
Apply Now
RHB Junior Savings Account
RHB

3.17%

  • Free Personal Accident Insurance Coverage, calculated based on the account balance
  • Initial Deposit is RM500
  • 18 years old & below
  • Initial deposit is RM1
Apply Now
AFFIN ISLAMIC Wealth Saver-i
AFFIN ISLAMIC BANK

3.18%

  • A Shariah-compliant product
  • Minimum deposit of RM100
  • 18 years old & above
Apply Now
OCBC 360 Account
OCBC Bank

4.10%

  • Extra interest on your savings with no lock-in period.
  • Initial Deposit of RM500
Apply Now
OCBC Booster Account
OCBC Bank

4.45%

  • 2 types of interest on your account balance every month.
  • No lock-in period on funds and MEPS fee waiver for the first 2 withdrawals every month.
  • Initial Deposit of RM500
Apply Now

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What is a Saving Account?

A savings account is a deposit account offered by a bank, which allows you to save and withdraw your money as and when you like. In most cases, saving accounts generate less interest than Fixed Deposit accounts; but unlike the latter, there are no maturity periods and you do not lose any earned interest when you choose to withdraw your deposits before a certain period of time.

How Do Saving Accounts Work?

In a standard savings account arrangement, you deposit your funds to a bank and receive interest based on the amount of money you have in the account on periodic basis. You are allowed to access the funds you have deposited through a variety of mediums, which include withdrawals from a bank counter, an Automated Teller Machine (ATM) through a debit card, or via phone banking and in certain cases, through an online banking service.

Savings accounts generally do not have cheque facilities. In Malaysia, a deposit account that works in an identical manner as a savings account but comes with a chequebook is known as a current account. However, current accounts are typically harder to qualify for, and could also come with maintenance charges.

Does a Savings Account Generate Interest Rate?

Most savings accounts in Malaysia do generate interest, but the rates pale in comparison to the returns generated by Fixed Deposit accounts. Generally speaking, saving accounts are not considered good financial vehicles to generate interest returns from your money. Instead, they are mostly considered as a means to store and withdraw money for everyday expenditure.

To get the best return from your savings account, always make sure you have done the necessary comparison between different savings accounts before you commit. Also, some savings accounts may feature a tiered interest rate system, which gives you a higher interest rate for higher account balances. Ultimately, you should always find out more about your saving account in order to take full advantage of its policies.

Are Your Deposits Safe With a Savings Account?

Deposits made at most banks in Malaysia are protected by Perbadanan Insurans Deposit Malaysia (PIDM), an insurance that automatically insures depositors against closure of the bank for up to RM250,000 per depositor per bank. Banks that are protected under PIDM are known as PIDM member banks, usually identifiable by a PIDM sign at the front counters.

To be insured by PIDM for more than RM250,000, the best way is to place any amount above RM250,000 with a different bank. Another way is to place the money into a joint-name account or an Islamic account, which are insured separately from conventional single-name account. Information about PIDM can be found here.

How to find a savings account with the best interest rate?

Intense competition in the banking sector means certain banks do offer higher interest rates for their savings accounts compared to others in order to capture a wider market segment. As a smart consumer, you are advised to make an effort to seek out these banks.

To find the savings accounts with the best interest rates in Malaysia, simply refer to the table at the top of the page, which contains a list of all savings accounts offered by major banks in Malaysia as well as their latest prevailing rates. Upon finding a savings account you like, you can also apply for one online and at no charge. Simply click on “Apply Now” beside the savings account of your choice, and allow our consultant to help make the necessary arrangements on your behalf.

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