Best Savings Account Malaysia 2026
Compare high-yield savings accounts from Malaysia's banks. Find accounts with the best interest rates and conditions.
Sourced from banks' official rate pages · indicative, verify before you transact · How we verify rates →
Digital bank, e-wallet & money-market promo rates
as of 22 October 2026Not savings accounts in the strict sense, but this is where the 5% headlines live. Every rate below is capped or conditional, and the ones marked fund are money-market returns that can fall and are not PIDM-insured.
| Product | Headline | What it really takes | Protection |
|---|---|---|---|
ShopeePay Money+ E-wallet | up to 5.00% Indicative p.a. · daily | ≈3% fund return (not guaranteed) + 2% p.a. ShopeePay bonus top-up on the first RM10,000, min RM200 balance, 1 Sep–30 Nov 2026 | fund · not insured |
KAF Digital Bank Savings Account-i Digital bank | up to 5.00% Historical hibah p.a. | Weekly hibah has run at 5.00% on the first RM2,000 and 3.00% above that since launch (latest paid 29 Sep 2026); hibah is a discretionary gift, not a promised rate | PIDM |
Ryt Bank Savings Digital bank | up to 4.00% Daily interest | 2.05% base + 1.95% bonus = 4.00% on the first RM20,000; bonus unlocked by a stamp card (RM10+ Ryt Card or JomPAY spend, max 1 stamp/day) that renews a 30-day bonus period. New accounts get 4.00% for the first 30 days. | PIDM |
Boost Bank Savings Digital bank | up to 4.00% Daily interest | 2.50% p.a. on the main Savings Account · 3.00% on Savings Jars · 4.00% on the BoostUP Jar (capped at RM3,000 deposited, needs at least RM500 of monthly Boost Wallet spend from month 2) · 3.30% on the Unlimited Jar (no deposit cap, no spend condition) and other Special Jars (Protect, EdgeProp, CelcomDigi…) | PIDM |
KDI Save Money-market fund | up to 3.88% p.a. · daily compounding | 3.88% p.a. on the first RM50,000 needs RM5,000 kept in KDI Invest; 3.38% above RM50,000 needs RM50,000 in KDI Invest; 2.88% p.a. with no conditions | fund · not insured |
GX Bank Account Digital bank | up to 3.80% Daily interest | 2.00% base on the main account; 3.18% in a 3-month or 3.80% in a 6-month Bonus Pocket (inclusive of base), max RM12,500 per pocket, four pockets | PIDM |
StashAway Simple Money-market fund | up to 3.55% Projected p.a. | 3.40% p.a. projected net rate (not guaranteed) plus a 0.15% boost for new investors for 6 months; no minimum, no lock-in | fund · not insured |
Versa Cash Money-market fund | up to 3.48% Net p.a. | ~3.48% net base (Jun 2026, in-app rate), plus stackable monthly Quest boosters (+0.1% to +0.2% p.a., to 31 Dec 2026) and a Fixed Rate Quest up to 4.2% for 210 days on fresh funds | fund · not insured |
Touch 'n Go GO+ E-wallet | up to 3.20% Daily returns | Variable daily return from the Principal e-Cash money-market fund; TNG's own page quotes up to 3.2% p.a. (4 Oct 2026) | fund · not insured |
AEON Bank Savings Digital bank | up to 3.00% Daily interest | 3.00% p.a. promo on Savings Pots (still live 4 Oct 2026, no end date published); base Savings Account-i pays 0.25% p.a. | PIDM |
Full comparison with spend, card and withdrawal details: e-wallets & digital banks →
What the Headline Number Actually Means
The big % on each card is the effective rate — base plus bonus combined. On 7 of the 10 accounts here, part of that number is conditional: miss the condition (a balance tier, deposit habit, transaction count, salary credit, or a sub-product move) and you fall back to the base rate. Three accounts have no gap at all — Maybank (0.30%), GXBank (2.00%) and Public Bank (0.20%) pay one flat rate, no conditions.
CIMB SaveR and RHB Smart both go from a 0.25% base to 2.50% effective — but each needs one condition. CIMB: recurring monthly deposit + no withdrawal. RHB: salary credit or 5+ transactions/month. Miss it, and RM10,000 earns RM25/year instead of RM250/year — a RM225 swing from one missed condition.
Balance tier/cap — Alliance pays 0% under RM20k, Hong Leong caps its bonus at RM100k. Behavioral — RHB (salary/transactions), CIMB (no withdrawal). Minimum average balance — Bank Islam needs RM1,000/month. Sub-product allocation + spend — Boost Bank's 4.00% needs money moved into the "BoostUP Jar" plus RM500/month of Boost Wallet spend, not the plain account (2.50%). Time-limited promo — AEON's 3.00% Savings Pot rate outlived its stated 31 Aug 2026 end date with no new date published; confirm in-app. Check which applies before you open.
GXBank pays a flat 2.00% p.a. — no minimum balance, no bonus rules, nothing to track. Lower than the conditional leaders, but every ringgit earns it, guaranteed.
📝 A correction we made to this table
On 9 July 2026 we expanded this comparison from 3 to 10 accounts. The next day, our daily data-accuracy audit caught and fixed two of the new listings: AEON Bank's account had been published as a flat, condition-free 2.50% rate — it's actually 0.25% base with a 3.00% Savings Pot promo (which AEON has since kept running past its 31 Aug 2026 end date). Boost Bank's numbers were corrected from a simple balance-cap structure to the base/Jars/Special-Jars tiers described above. Alliance, Maybank and Bank Islam — the three original accounts here — haven't needed a correction since March 2026.
Savings Account Malaysia — FAQ
Most high-yield savings accounts pay a base rate plus a bonus rate. To unlock the bonus you usually need to meet conditions — maintain a minimum balance, credit your salary, make a minimum number of transactions, or spend a set amount each month. Without meeting them, you only earn the lower base rate.
A savings account gives flexibility — you can withdraw anytime — which suits an emergency fund. A fixed deposit pays a higher, locked rate for a set tenure, which suits money you won't touch. Many Malaysians keep an emergency buffer in savings and lock the rest in FD.
Yes. Deposits with licensed banks are protected by PIDM (Perbadanan Insurans Deposit Malaysia) up to RM250,000 per depositor per bank. This covers both conventional and Islamic savings accounts.
Most of the accounts we compare need no minimum balance at all — 8 of the 10 in this table show 'None,' meaning our data records no required balance for them. Only two carry a small minimum, RM20 each. Scan the 'Min balance' column above for which specific accounts that applies to today, since terms can change — but as a starting point, a RM0 minimum is now the norm rather than the exception among the accounts here.
The main ranking compares savings accounts at licensed banks, where the rate is interest or profit on a PIDM-protected deposit. Most of the eye-catching 5% offers are different products: ShopeePay Money+ is a money-market fund with a 2% promo top-up (not PIDM-insured, fund return not guaranteed), KAF Digital Bank pays a discretionary weekly hibah that has been 5% only on the first RM2,000, and Boost's 4% jar needs monthly wallet spend. Mixing them into one list would make a RM2,000 cap look like a full-balance rate. So they sit in their own table just below, with the cap and condition beside every headline, and in full on our e-wallet comparison.
The top spot changes as banks adjust their bonus campaigns and promos — check the ranking above for today's leader. As of 22 October 2026, 2:41 PM, it's Boost Bank Savings Account at an effective 4.00% p.a. — but that's not what the plain Boost Bank Savings Account pays if you just leave money in it (that's 2.50% p.a.); reaching 4.00% means moving your balance into Boost's "BoostUP Jar" and spending at least RM500 a month through the Boost Wallet, with 3.00% p.a. at the middle "Savings Jars" tier and 3.30% p.a. on most other partner Special Jars. AEON Bank Savings Account-i is close behind at 3.00% p.a., a Savings Pot promo that was still running on 4 Oct 2026 with no published end date, so confirm it in the AEON Bank app before counting on it; the base account pays 0.25% p.a. Outside the banks, KAF Digital Bank's hibah has run at 5.00% on the first RM2,000 and ShopeePay Money+ pays an indicative 5% to 30 Nov 2026 on up to RM10,000; both are in the digital bank and e-wallet promo table below the main ranking. If you'd rather not chase a tier or a promo deadline, GXBank's Savings Account pays a flat 2.00% p.a. with no conditions attached. If you can lock money away for a fixed term instead, check our fixed deposit comparison — locked rates are often higher than a flexible savings account.
Looking for more on idle cash? Compare e-wallets & digital banks like TNG GO+ and GXBank, or lock in a fixed deposit.