Best Savings Account Malaysia 2026
Compare high-yield savings accounts from Malaysia's banks. Find accounts with the best interest rates and conditions.
Last updated: 6 June 2026, 9:00 AM
4.00%
Best Savings Rate Today
CIMB Bank · CIMB OCTO Savers · Min 3 OCTO app transactions/month
CIMB Bank
CIMB OCTO Savers
Digital
4.00%
effective p.a.
Base 0.50% + Bonus 3.50%
Min balance: None
⚡ Min 3 OCTO app transactions/month
✓ Up to 4.00% p.a.✓ No min balance✓ Instant online account✓ 3 transactions/month for bonus
Alliance Bank
Alliance SavePlus Account
3.50%
effective p.a.
Base 0.50% + Bonus 3.00%
Min balance: None
⚡ Min RM1 balance, online banking
✓ Up to 3.50% p.a.✓ No min balance✓ Free debit card
Hong Leong Bank
HLB Smart Account
3.38%
effective p.a.
Base 0.50% + Bonus 2.88%
Min balance: RM1
⚡ Balance above RM1,000 + min 3 txn/month
✓ Up to 3.38% p.a.✓ Min RM1 to open✓ ConnectFirst debit card
RHB Bank
RHB High Yield Account Plus
3.00%
effective p.a.
Base 0.50% + Bonus 2.50%
Min balance: RM500
⚡ Min RM500, online banking enrolled
✓ Up to 3.00% p.a.✓ Min RM500 to open
Bank Islam
Bank Islam Savings Account-i
Islamic
2.75%
effective p.a.
Base 0.25% + Bonus 2.50%
Min balance: RM20
⚡ Maintain min RM1,000 monthly average
✓ Shariah-compliant✓ Hibah (gift) returns✓ No riba
✓ Wide branch network✓ MAE digital wallet linked✓ No monthly fee
Savings Account Malaysia — Guide
How do bonus interest rates work?
Most high-yield savings accounts offer a base rate plus a bonus rate. To earn the bonus, you typically need to maintain a minimum balance, make a minimum number of transactions, or enrol in online banking.
Savings Account vs Fixed Deposit
Savings accounts offer flexibility — you can withdraw anytime. Fixed deposits offer higher rates but lock your money for a fixed period. For emergency funds, use a savings account. For long-term savings, use FD.