Alliance Bank Malaysia Berhad Lowers Basic Current Account Opening Deposit

Samuel Chua

13th March 2026 - 3 min read

Opening a bank account sometimes starts with a small but real hurdle. Some banks require a few hundred ringgit upfront, which can make it harder for someone who is just starting a new job, managing tight cash flow, or trying to separate personal and business finances.

Alliance Bank Malaysia Berhad is lowering that barrier for one of its basic accounts. Beginning 1 April 2026, the minimum initial deposit for its Basic Current Account and Basic Current Account-i will be reduced from RM500 to RM100.

Lower Initial Deposit Reduces The Cost Of Opening A Current Account

A Basic Current Account is designed as a simple entry point into the banking system. It allows customers to receive salary payments, make transfers, and manage everyday transactions without the additional features attached to more premium accounts.

Under the revised terms, customers will only need RM100 to open a Basic Current Account or Basic Current Account-i, down from the previous RM500 requirement.

For someone opening their first account or switching banks, the change mainly affects how much money must be set aside at the start. A lower entry requirement reduces the amount tied up when setting up a new account.

This adjustment is procedural rather than financial. It changes the starting balance required to open the account, but it does not affect interest rates, profit rates, or other pricing terms linked to the account.

Micro Enterprises Can Now Open Basic Savings Accounts

The bank is also expanding eligibility for its Basic Savings Account and Basic Savings Account-i.

Beginning 1 April 2026, micro enterprises registered in Malaysia will be able to open these accounts, joining the existing categories of eligible customers.

This change allows small businesses operating on a limited scale to use a basic deposit account for routine financial management. Having a dedicated account can help separate personal and business transactions, which is often necessary when tracking revenue, expenses, and tax records.

The Update Focuses On Access Rather Than New Pricing

The changes take effect on 1 April 2026 through updated terms and conditions for selected deposit accounts.

In practical terms, the update mainly improves access to basic banking services. Lowering the opening deposit reduces the upfront requirement for individuals, while expanded eligibility allows more micro enterprises to use basic savings accounts.

What remains unchanged are the other features of these accounts. The revision does not introduce new interest rates, new account tiers, or additional financial incentives. Customers comparing deposit accounts will still look at familiar considerations such as fees, service availability, and whether the account suits their daily transaction needs.

The update therefore makes it easier to open certain accounts, while leaving the overall structure of the bank’s deposit products largely the same.

Samuel Chua

Samuel writes about personal finance and financial news, focusing on how banking updates, policies, and promotions affect everyday money decisions. He enjoys making complicated financial topics easier to follow. Outside of writing, he spends his time watching TV shows and occasionally convincing himself he will only watch one episode.

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