A Quick Guide To MM2H Fixed Deposit Requirements

Among other conditions, the revised Malaysia My Second Home (MM2H) programme requires participants to open a Fixed Deposit in a Malaysian bank. 

If you’re familiar with the visa’s four tiers and just want the FD minimum values, here you go!

MM2H Tier	Platinum	Gold	Silver	SEZ
Fixed Deposit Value	USD 1 million	USD 500,000	USD 150,000	USD 65,000 if aged 21 – 49  USD 32,000 if > 50

However, if you’d like a complete understanding, below are answers to the 11 most common questions about MM2H fixed deposits.

Let’s begin.

1. When do I set up my fixed deposit?

After submitting your MM2H application and receiving a conditional approval letter, you will have six months to visit Malaysia and open your fixed deposit account.

Don’t worry too much about the logistics as your appointed MM2H agent will guide you through this.

2. Is my fixed deposit refundable?

Yes. The full fixed deposit amount, along with any interest accrued, is refundable upon cancellation or non-renewal of your MM2H pass.

3. Can my fixed deposit be in Malaysian Ringgit?

Yes, and many applicants prefer MYR accounts since withdrawals and related expenses in Malaysia are easier to manage in local currency.

4. Are Sharia bank accounts accepted?

Yes. Sharia-compliant (Islamic) accounts are fully accepted under the MM2H programme, and most banks here have Sharia compliant options.

5. Can I withdraw my fixed deposit for key purchases?

You may withdraw up to 50% of your fixed deposit after receiving MM2H approval for property purchase, medical expenses, education, or tourism within Malaysia.

6. Do I need to top up fixed deposit withdrawals?

No. Any amount withdrawn for approved purposes does not need to be replenished. You only need to maintain the remaining balance in your fixed deposit.

7. Do I have to wait to apply for a withdrawal?

No. You can apply for partial withdrawal the moment you get your MM2H visa stamp.

8. Can I withdraw interest on my fixed deposit?

Yes. The interest earned belongs entirely to you and can be withdrawn freely at any time, and is typically credited into a separate savings account you open with the same bank.

9. Can I withdraw for a property I’ve paid for?

This is definitely a grey area, but generally, as long as your Sale & Purchase Agreement (SPA) is signed after your MM2H pass endorsement, you will be entitled to a withdrawal.

10. Are overseas transfers into the fixed deposit taxed?

No. Cash transfers related to your MM2H fixed deposit are tax-exempt.

11. What if I pass away in Malaysia?

If you don’t have a will and there’s no way to identify your next of kin, our government will seize your fixed deposit, then perhaps use it to fix the many potholes along our nation’s roads.

Every time we drive, we will think fondly of you 🙂

If that doesn’t sound ideal, the solution is to have a will and make sure it covers your Malaysian assets!

That’s it from us–we wish you all the best in your MM2H journey and let us know if we can help!

Let MISHU handle your MM2H application

Not all MM2H agents are created equal – some leave you more confused! Let us connect you to one who will make the process as straightforward and hassle-free as possible.