A high yield savings account or high interest savings account is a type of savings account that offers better interest rate compared to traditional savings accounts.

To open a savings account with Alliance Bank Malaysia, this quick checklist may assist you:

Check The Eligibility

Your nationality: All Malaysians are eligible to open any type of savings accounts at Alliance Bank Malaysia. There are certain savings account products that non-residents of Malaysia are also eligible to apply for. Refer to the respective savings account’s product page for more details.

Your age: If you are 18 and above, you are eligible to open any type of savings accounts at Alliance Bank Malaysia. If you are under 18 years old, you may need to be accompanied by a parent/guardian. Refer to the respective savings account’s product page for more details.

Minimum deposit amount: Every type of savings account at Alliance Bank Malaysia has its own minimum deposit requirements in Ringgit Malaysia (RM) equivalent. Refer to the respective savings account’s product page for more details.

Other Things You Will Need

You will need to have your identification card (MyKad) and your parent’s / guardian’s identification card (if applicable) stand by and ready as part of the process to open a savings account. If you are opening a savings account through an online or mobile app, you may need to have a latest MyKad (with a big picture and a small picture of you), a smartphone with you, and an online banking account with another bank in Malaysia (for initial deposit purpose) to facilitate the account opening process.

Please refer here (under Conventional and Islamic Current, Savings and Fixed Deposit Accounts) for a list of fees and charges associated with Alliance Bank's savings accounts. There are no fees charged in opening any types of savings account with Alliance Bank.

Each type of savings account with Alliance Bank Malaysia has its own minimum deposit requirements in Ringgit Malaysia (RM):

Basic Savings Account: RM20

Alliance My eSaving Account: RM250

Alliance BuddyTM Account: RM50

Each type of savings account with Alliance Bank Malaysia has its own interest rate schedule, calculated to pay you interest for your saving balances. Here are some common features and explanations on how the interest are calculated to pay you:

Deposit Amount: Denominated in Ringgit Malaysia (RM), each type of savings accounts with Alliance Bank Malaysia may have different tier of interest rate, depending on the deposit amount balance available in the account.

Single-tier or Multi-tier Interest Rate: Single-tier interest rate refers to only one type of interest rate system where all customers receive the same interest rate on their deposits, regardless of the amount deposited. For multi-tier interest rates, customers may receive different tier(s) of interest rates based on the amount of money they deposit.

Frequency of Interest Calculation and Interest Credited: For all savings accounts with Alliance Bank Malaysia, interest is calculated on a daily basis. Interest shall be credited on a certain frequency depending on the types of savings accounts with Alliance Bank Malaysia.

Yes, Alliance Bank Malaysia offers both mobile and online banking services for its savings accounts.

Log on to allianceonline for online self-banking services.

For added convenience, you may download allianceonline mobile app into your mobile devices:

Yes, Alliance Bank Malaysia offers you more than just a typical savings account. These are some of the many perks:

1. Bonus interest of 10% on total interest earned for the year by maintaining good saving behaviour and Straight A achievement award with Alliance Buddy Account.
2. Enjoy the waivers on transaction fees i.e. MEPS withdrawal fee, interbank transfer fee, debit card annual fee with minimum of RM10,000 monthly average balances in Alliance SavePlus Account.
3. You may open an Alliance SavePlus Account via allianceonline mobile app & get your debit card deliver to your doorstep.
4. Access to open foreign currencies account online once you become our savings account holder with allianceonline access.

Each types of savings accounts with Alliance Bank Malaysia has its own eligibility requirements:

Basic Savings Account

1. Children below 18 years of age, accompanied by a parent/guardian
2. Minimum account opening amount of RM50

Alliance My eSaving Account

1. Individuals aged 18 years and above
2. Individuals under 18 years old will be joint holders either in trust or a beneficiary. No debit card will be issued for individuals under 18 years old
3. Minimum account opening amount of RM250

Alliance Buddy^TM Account

1. Children below 18 years of age, accompanied by a parent/guardian
2. Minimum account opening amount of RM50

You can open a savings account and get it activated with us in as fast as 15 minutes. Contact us for more information.

The maximum daily transfer limit is RM50,000, whereby this is subjected to a combined limit for 3rd Party i.e, Interbank GIRO (IBG), Instant Transfer, Telegraphic Transfer, and DuitNow.

DuitNow transfers up to RM5,000 are free while a charge of RM0.50 per transaction applies for transactions above RM5,000.

allianceonline is Alliance Bank Malaysia’s internet banking services for your Alliance Bank accounts including savings accounts.

Here are the online security features of allianceonline:

1. Mobile Secured Approval Automatic Time Out
2. Secured login using username and password
3. Secure Phrase
4. Lock Payment via allianceonline mobile app

Call us immediately at 03-5516 9988 to block your Debit Card/Debit Card-i immediately, if your card is stolen or lost, PIN is compromised or retained by an ATM. Should you suspect any unauthorised access/activity on your account, you may temporarily disable the digital payment services through one-click “Lock Payment” feature in allianceonline mobile app.