The responsibilities of adult life are ever multiplying. Sadly, the same cannot be said about our savings. Choosing the right savings account is one of the first things you need to do once you start working, as it will help you earn a small but tangible interest at zero hassle. And while you might be happy with your zero interest account, it’s now time for you to stop putting your hard-earned money into a savings account that sucks!

Here are six savings accounts that will make saving your hard-earned money way more rewarding.


#1 – OCBC 360 Account

UOB 360 Account
Image Credit: OCBC

Min initial deposit: RM200

Min. account balance: RM20

Max. account balance: RM100,000

Interest rate: Up to 4.01% p.a

OCBC 360 Account boasts maximum savings up to 4.10% p.a. and easy 3-in-1 rewards for managing your finances easily with one savings account.

  • 1.2% p.a. every month when you deposit a minimum of RM500 to OCBC 360 Account
  • 1.2% p.a. every month when you pay any 3 bills online from OCBC 360 Account
  • 1.2% p.a. every month when you spend minimum RM500 on your OCBC credit card(s)
  • 0.5% interest base rate

With a total of 4.1% interest rate, that’s a better rate than most Fixed Deposits in town. The bonus interest is credited by the 14th working days of the following month, and is calculated by your average daily account balance per month.

#2 – Hong Leong Bank Premium Savings Account

Hong Leong Bank Logo
Image Credit: Hong Leong Bank

Min initial deposit: N.A – By invitation only

Min account balance: RM10,000

Max. account balance: RM2,000,000

Interest rate: 2% p.a

To be eligible for this Premium Savings Account, you will need to have a minimum of RM10,000 in either a Hong Leong Current or Savings Account with a RM10,000 or more balance. If you plan on leaving your money in the bank without ever withdrawing it, then you can earn up to 2.30% p.a. interest.

However, you do still have the option to withdraw from the account every 15 days. Do note that interest earning cycles will change every time you withdraw. To make a withdrawal, you will need to credit cash from this account into a nominated existing Hong Leong Bank current or savings account, and withdraw from that designated account.

#3 – Bank of Nova Scotia Berhad Basic Saving Account

Scotiabank logo
Image Credit: Scotiabank

Min. initial deposit: RM20

Min. account balance: RM20

Max. account balance:

Interest rate: 2.05% p.a

The Bank of Nova Scotia Berhad Basic Saving Account is an interest paying saving account offering half yearly interest payments to account holders. The account requires a minimum deposit and balance of only RM20 with absolutely no introducer required. The account can be set up easily with absolutely no service or maintenance fees or charges to the account holder. Stop paying and start saving today.

#4 – AmBank TRUE Savers Account

Ambank logo
Image Credit: AmBank

Min. initial deposit: RM20

Min. account balance: RM20

Max. account balance:

Interest rate: 1.8% p.a

The AmBank TRUE Savers Account is a simple, no-frills Savings Account that caters to beginner saves. With its flexible minimum account balance, this account has comparatively high interest rates that’ll help you reach your financial goals.

#5 – UOB eAccount

UOB logo
Image Credit: UOB

Min. initial deposit: RM500

Min. account balance: RM1

Max. account balance:

Interest rate: 0.05 – 3.08% p.a

This is one savings account that truly grows with you, as interest rates increase with your account balance amount. Users enjoy high interest rates of 3.08% p.a. on you bank balance above RM50,000 – that’s fixed deposit-like perks, while enjoying all the convenient benefits of a savings account. What’s more, your interest earnings will be credited to your eAccount each month so you’ll get to see healthy growth to your bank balance.

You’ll also be eligible for exclusive discounts at all-year-round at outlets participating in the Smart$ Cash Rebates Programme. Simply swipe your UOB Debit Card at any of these outlets (Cathay Cineplexes, Guardian, Cold Storage, AirAsia, and more) to get cash rebates of up to 20%.

#6 – Affin Islamic Wealth Saver-i

Affin Bank logo
Image Credit: Affin Bank

Min. initial deposit: RM100

Min. account balance: RM1

Max. account balance:

Interest rate: 0.3 – 3.08% p.a

This is a savings account based on the Syariah concept of Mudharabah principle, and is a profit sharing investment, wherein profits will be distributed according to the pre-agreed profit sharing ratios. This savings account provides protection coverage, where account holders get complimentary 24-hour Takaful Personal Accident (PA) Coverage of up to RM100,000, under the condition that there is a minimum account balance of RM3,000 on the accident date. This savings account also offers complimentary protections like Medical and Funeral Expenses of up to RM1,000 respectively.


We hope you’ve found a savings account that suits you just nicely. Just remember, it’s not your salary that makes you rich, but your spending and saving habits (as well as your investment habits as well — but that’s a topic for another time). Time to grow that wallet of yours! What other savings accounts do you use?

*Featured Image Credit: Pixabay