Banking

Current standard 12-month board rates at major Malaysian banks are around 1.9% per year. Promotional rates may be higher, but they often require new funds, a minimum amount or a limited placement period.

Compare the effective rate, tenure, early-withdrawal terms and whether the account can be pledged for your programme before choosing.

Yes, if it is an eligible deposit at a PIDM member bank—but protection is limited to RM250,000 per depositor per member bank.

MM2H fixed deposits can exceed that limit, so the full balance may not be covered. PIDM protection is automatic and applies regardless of nationality.

Choose the bank that can support your programme fixed deposit, international transfers and everyday banking in one practical setup.

Compare fixed-deposit rates, foreign-exchange spreads, transfer limits, premier-banking thresholds, branch access, digital banking and service language. The highest advertised rate is not always the best overall choice.

Usually not completely. A bank may begin preliminary checks remotely, but most foreign applicants must attend a branch for identity verification and account activation.

Bring your passport, Malaysian pass or approval evidence, address details and source-of-funds documents.

Yes, most banks request an address. A tenancy agreement, utility bill, property document or official correspondence may be accepted, depending on the bank.

Ask for the exact document list before visiting the branch.