Minimum usually RM 1,000 for most banks
Most Malaysian banks use monthly compounding
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Fixed deposits are protected by PIDM (Perbadanan Insurans Deposit Malaysia) up to RM 250,000 per depositor per member bank.
Interest earned is subject to withholding tax. Malaysian residents enjoy tax exemption on the first RM 600 of deposit interest annually.
Most banks allow early withdrawal but with penalties. Check terms before committing, especially for longer-term deposits.