Best Savings Account in Malaysia
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We found 84 savings account(s) for you!
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- Profit Rate
- 2.5% p.a.
- Minimum Deposit
- RM 10
Commodity Murabahah Savings Account - i
- Profit Rate
- 5% p.a.
- Minimum Deposit
- RM 20
UOB One Account
- Interest Rate
- 6% p.a.
- Minimum Deposit
- RM 500
UOB Stash Account
- Interest Rate
- 3.2% p.a.
- Minimum Deposit
- RM 500
HSBC Amanah Basic Savings Account-i
- Profit Rate
- 0.25% p.a.
- Minimum Deposit
- RM 20
HSBC Basic Savings
- Interest Rate
- 0.25% p.a.
- Minimum Deposit
- RM 20
Kuwait Finance House Basic Savings Account-i
- Profit Rate
- 1.5% p.a.
- Minimum Deposit
- RM 20
Alliance SavePlus Account-i
- Profit Rate
- 2.55% p.a.
- Minimum Deposit
- RM 250
RHB Smart Account
- Interest Rate
- 2.85% p.a.
- Minimum Deposit
- RM 1,000
UOB Lady's Savings Account
- Interest Rate
- 0.75% p.a.
- Minimum Deposit
- RM 500
RHB Smart Account-i
- Profit Rate
- 2.85% p.a.
- Minimum Deposit
- RM 1,000
Alliance SavePlus Account
- Interest Rate
- 2.5% p.a.
- Minimum Deposit
- RM 250
RHB MaxSave Account
- Interest Rate
- 1% p.a.
- Minimum Deposit
- RM 200
RHB Saving Account-i
- Profit Rate
- 1.25% p.a.
- Minimum Deposit
- RM 200
Bank of China Malaysia Basic Savings Account
- Interest Rate
- 1% p.a.
- Minimum Deposit
- RM 20
Bank of China Malaysia Panda Junior Dual Currency Savings Account (PJSA)
- Interest Rate
- 3.15% p.a.
- Minimum Deposit
- RM 20
OCBC 360 Account
- Interest Rate
- 2.7% p.a.
- Minimum Deposit
- RM 500
OCBC Booster Account
- Interest Rate
- 3.1% p.a.
- Minimum Deposit
- RM 500
Affin Islamic Barakah Charity Account-i
- Profit Rate
- 2.2% p.a.
- Minimum Deposit
- RM 100
Affin Islamic Junior Saver-i
- Profit Rate
- 1.85% p.a.
- Minimum Deposit
- RM 1
Affin Islamic Savings Account-i
- Profit Rate
- 1.85% p.a.
- Minimum Deposit
- RM 100
Affin Islamic Wealth Saver-i
- Profit Rate
- 1.85% p.a.
- Minimum Deposit
- RM 100
Affin Islamic AffinGold-i
- Profit Rate
- 2% p.a.
- Minimum Deposit
- RM 1,000
Standard Chartered Basic Savings Account
- Interest Rate
- 0.25% p.a.
- Minimum Deposit
- RM 20
Standard Chartered JustOne Priority Savings Account
- Interest Rate
- 1% p.a.
- Minimum Deposit
- RM 0
Standard Chartered JustOne Preferred Savings Account
- Interest Rate
- 0.5% p.a.
- Minimum Deposit
- RM 5,000
Standard Chartered JustOne Personal Savings Account
- Interest Rate
- 0.25% p.a.
- Minimum Deposit
- RM 0
RHB Statement Savings Account
- Interest Rate
- 1% p.a.
- Minimum Deposit
- RM 100
RHB Passbook Savings Account
- Interest Rate
- 1% p.a.
- Minimum Deposit
- RM 250
RHB MySave Account
- Interest Rate
- 0.6% p.a.
- Minimum Deposit
- RM 100
RHB Basic Savings Account
- Interest Rate
- 0.28% p.a.
- Minimum Deposit
- RM 20
RHB Junior Savings Account
- Interest Rate
- 3.2% p.a.
- Minimum Deposit
- RM 1
Public Bank Bestari Savings Account-i
- Profit Rate
- 1% p.a.
- Minimum Deposit
- RM 10
Public Bank Basic Wadiah Savings Account-i
- Profit Rate
- 0.6% p.a.
- Minimum Deposit
- RM 20
Public Bank Young Achiever Savings Account
- Interest Rate
- 2.95% p.a.
- Minimum Deposit
- RM 500
Public Bank WISE Savings Account
- Interest Rate
- 1.95% p.a.
- Minimum Deposit
- RM 1
Public Bank Basic Savings Account
- Interest Rate
- 0.45% p.a.
- Minimum Deposit
- RM 20
Public Bank PLUS Savings Account
- Interest Rate
- 0.8% p.a.
- Minimum Deposit
- RM 250
Public Bank PB SaveLink Account
- Interest Rate
- 0.6% p.a.
- Minimum Deposit
- RM 500
Public Bank PB Bright Star Savings Account
- Interest Rate
- 2.95% p.a.
- Minimum Deposit
- RM 50
Public Bank 50 PLUS Savings Account
- Interest Rate
- 1.2% p.a.
- Minimum Deposit
- RM 2,000
Maybank imteen Account
- Interest Rate
- 1.9% p.a.
- Minimum Deposit
- RM 50
Maybank Yippie Savings Account
- Interest Rate
- 1.9% p.a.
- Minimum Deposit
- RM 1
Maybank Basic Savings Account
- Interest Rate
- 0.25% p.a.
- Minimum Deposit
- RM 20
Maybank Maybank2u Savers-i
- Profit Rate
- 1% p.a.
- Minimum Deposit
- RM 250
Maybank Maybank2u Savers
- Interest Rate
- 1% p.a.
- Minimum Deposit
- RM 250
Maybank Kawanku Savings Account
- Interest Rate
- 0.4% p.a.
- Minimum Deposit
- RM 250
Maybank Golden Savers Savings Account
- Interest Rate
- 0.7% p.a.
- Minimum Deposit
- RM 1,000
Maybank Savings Account-i
- Profit Rate
- 0.4% p.a.
- Minimum Deposit
- RM 250
Maybank Golden Savers Savings Account-i
- Profit Rate
- 1.95% p.a.
- Minimum Deposit
- RM 1,000
Maybank Islamic Yippie-i Savings Account
- Profit Rate
- 1.9% p.a.
- Minimum Deposit
- RM 1
Maybank Islamic Basic Savings Account-i
- Profit Rate
- 0.25% p.a.
- Minimum Deposit
- RM 20
Maybank Islamic Imteen-i Account
- Profit Rate
- 2.65% p.a.
- Minimum Deposit
- RM 50
Hong Leong Basic Savings Account
- Interest Rate
- 0.25% p.a.
- Minimum Deposit
- RM 20
Hong Leong Junior Savings Account
- Interest Rate
- 1.5% p.a.
- Minimum Deposit
- RM 1
Hong Leong Premium Savings Account
- Interest Rate
- 0.9% p.a.
- Minimum Deposit
- RM 10,000
Hong Leong Islamic Multi-Tier savings account -i
- Profit Rate
- 0.05% p.a.
- Minimum Deposit
- RM 100
Hong Leong Islamic Junior Savings Account -i
- Profit Rate
- 1.5% p.a.
- Minimum Deposit
- RM 1
Hong Leong Islamic Bank Basic Savings Account-i
- Profit Rate
- 0.25% p.a.
- Minimum Deposit
- RM 20
Citibank Basic Savings Account
- Interest Rate
- 1% p.a.
- Minimum Deposit
- RM 20
CIMB Basic Savings Account
- Interest Rate
- 0.8% p.a.
- Minimum Deposit
- RM 20
CIMB Regular Savings Account
- Interest Rate
- 0.35% p.a.
- Minimum Deposit
- RM 250
CIMB Prime Savings Account
- Interest Rate
- 0.6% p.a.
- Minimum Deposit
- RM 1,000
CIMB Kwik Account
- Interest Rate
- 0% p.a.
- Minimum Deposit
- RM 0
CIMB AirAsia Savers Account
- Interest Rate
- 1% p.a.
- Minimum Deposit
- RM 250
CIMB Islamic EcoSave Savings Account-i
- Profit Rate
- 1% p.a.
- Minimum Deposit
- RM 250
CIMB Islamic Basic Savings Account-i
- Profit Rate
- 0.8% p.a.
- Minimum Deposit
- RM 20
BSN GIRO-i Savings Account-i
- Profit Rate
- 1.06% p.a.
- Minimum Deposit
- RM 0
BSN GIRO-i eSaver
- Profit Rate
- 2% p.a.
- Minimum Deposit
- RM 500
BSN Basic Savings Account-i
- Profit Rate
- 0.95% p.a.
- Minimum Deposit
- RM 20
BSN Basic Savings Account
- Interest Rate
- 0.25% p.a.
- Minimum Deposit
- RM 0
BSN SEDAR Account
- Interest Rate
- 2.5% p.a.
- Minimum Deposit
- RM 0
BSN GIRO eSaver
- Interest Rate
- 2% p.a.
- Minimum Deposit
- RM 0
Bank Rakyat Basic Savings Account-i Adult
- Profit Rate
- 3% p.a.
- Minimum Deposit
- RM 10
Bank Rakyat Basic Savings Account-i Teenager
- Profit Rate
- 3% p.a.
- Minimum Deposit
- RM 10
Bank Rakyat Basic Savings Account-i Nuri
- Profit Rate
- 0.75% p.a.
- Minimum Deposit
- RM 10
Bank Muamalat Basic Savings Account
- Profit Rate
- 0.75% p.a.
- Minimum Deposit
- RM 20
Bank Muamalat Al-Mudharabah Savings Account
- Profit Rate
- 2% p.a.
- Minimum Deposit
- RM 10
MBSB Wise Saver Savings Account-i
- Profit Rate
- 1.25% p.a.
- Minimum Deposit
- RM 20
MBSB Cheeky Savings Account-i
- Profit Rate
- 2.1% p.a.
- Minimum Deposit
- RM 20
MBSB Cash Rich Savings Account-i
- Profit Rate
- 1.65% p.a.
- Minimum Deposit
- RM 100
UOB InvestPro
- Interest Rate
- 1.7% p.a.
- Minimum Deposit
- RM 100
UOB Fun Savers
- Interest Rate
- 1.45% p.a.
- Minimum Deposit
- RM 1
UOB ProSave Account-i
- Interest Rate
- 1.6% p.a.
- Minimum Deposit
- RM 100
Read more about Savings Account
FAQs 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.
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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.
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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.
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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.
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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.