What Is KDI Save
KDI Save is a cash management product that invests your money in Ringgit-based money market and fixed income instruments. You can deposit money, withdraw it, and transfer funds between KDI Save and KDI Invest through the KDI platform.
Unlike a fixed deposit, KDI Save has no lock-in period. You can withdraw your money at any time, with the funds reaching your bank account within one to two working days. There is also no minimum holding period or early withdrawal penalty.
KDI Save does not charge management fees or an expense ratio, regardless of your balance. The minimum initial deposit is RM100, while subsequent top-ups and withdrawals start from RM10.
KDI Save is not covered by Perbadanan Insurans Deposit Malaysia (PIDM) because it is an investment product rather than a bank deposit. Kenanga invests the money in low-risk assets, but this does not provide the same government-backed protection as a savings account or fixed deposit with a PIDM member bank.
KDI Save Interest Rates
KDI Save offers different rates depending on your KDI Save balance and KDI Invest holdings.
| Tier | KDI Save Amount | Qualifying KDI Invest Balance | Invest Rate (p.a.) |
| Tier 1 | RM0 to RM50,000 | Minimum RM5,000 | 3.88% |
| Tier 2 | Above RM50,000 | Minimum RM50,000 | 3.38% |
| Base Tier | Any amount | No minimum | 2.88% |
These rates took effect on 16 June 2026. If you do not meet the KDI Invest balance requirement for Tier 1 or Tier 2, your KDI Save balance earns the Base Tier rate of 2.88% p.a.
Interest is calculated and compounded daily based on your end-of-day balance. Kenanga can change the rates at any time. The qualifying KDI Invest balance is based on the higher of your total holdings and aggregate net deposits.
Interest earned from KDI Save is exempt from personal income tax, in line with the existing tax treatment for interest from money market funds and fixed deposits.
Documents You’ll Need
These requirements apply when opening a KDI account, including KDI Save.
Malaysian citizens
- Front and back photos of your NRIC
Non-Malaysian permanent residents with a Malaysian bank account
- Photo of your passport
- Valid Malaysian mobile number
- Email address
You can open an account online through the KDI website or the KDI GO app on Google Play or the App Store. There is no need to visit a branch or submit documents in person.
You must be at least 18 years old to apply. Kenanga does not accept applications from U.S. citizens or U.S. Green Card holders.
Is KDI Save Worth It
KDI Save can suit people who want to earn a return on cash while keeping access to their money. There is no lock-in period, and the advertised Tier 1 rate of 3.88% p.a. is higher than the Base Tier rate of 2.88% p.a.
One important thing to note is that KDI Save is not covered by PIDM. Your money is invested in money market and fixed income instruments, so it carries some credit and interest rate risk, even though the underlying assets are considered low risk.
If you prioritise PIDM protection and guaranteed returns, a savings account or fixed deposit with a PIDM member bank may be more suitable. If you are comfortable with the risks of an investment product and want easier access to your cash, KDI Save is an alternative worth considering.
