Deposit Insurance Coverage

Malaysia Deposit Insurance Corporation Act 2005 came into effect in year 2005.

Perbadanan Insurans Deposit Malaysia (PIDM) is the statutory body managing this deposit insurance scheme. Deposit insurance is a system established by the Government to protect depositors against the loss of their deposits in the event a member institution is unable to meet its obligations to depositors. As an integral component of an effective financial safety net, a deposit insurance system enhances consumer protection by providing explicit protection to depositors.

The maximum limit of coverage under the Act is RM60,000 per depositor per member institution. This includes both the principal balance of a deposit and the interest/return.

Example on how deposit insurance coverage is calculated is provided here.

The PIDM's website is htttp://www.pidm.gov.my and supports four languages namely BM, English, Chinese and Tamil.

Illustration :
1. If you have RM100K fix deposit in a single Bank, it is wise to split it to two portion, with each less than RM60K:
-- two accounts (conventional/Islamic or with different join account-holder) in one bank or
-- one account each in two banks.

If you put RM100K into one account at a bank, in the event that the Bank been wind-up, the PIDM has the statutory obligation to cover the first RM60K. The balance of RM40K has to be claimed through a civil proceeding in the Court.


所有存款者，无论商业或个人，皆获得保障。根据PIDM法令，每名存户在每一间成员银行机构的合格存款，皆可获得RM 60,000保障的顶额。这RM60,000的顶额包括存款本金利息/回酬在内。RM 60,000的保障顶额让95巴仙的存户完全受保。马来西亚存款保险制度提供个别保障予传统及回教式存款。