Rewarding returns!What Is KDI Save
KDI Save is a cash management product that invests your funds in Ringgit-based money market and fixed income instruments. Through the KDI platform, you can deposit funds, withdraw them, and transfer cash between your KDI Save and KDI Invest accounts.
Unlike a fixed deposit, there's no lock-in period. You can withdraw at any time, and the funds will be reflected in your bank account within 1 to 2 working days. There's also no minimum holding period and no penalty for early withdrawal, which is where KDI Save differs most from a traditional FD.
KDI Save charges no management fees and no expense ratio, regardless of how much you have invested. The initial deposit is RM100, and subsequent top-ups can be made from as little as RM10. The minimum withdrawal amount is also RM10.
Do note that KDI Save is not covered under Perbadanan Insurans Deposit Malaysia (PIDM), since it's an investment product and not a bank deposit. Kenanga states that it keeps risk low by investing in low-risk assets, but this is different from the government-backed protection that applies to savings accounts and fixed deposits at licensed banks.
KDI Save Interest Rate
Returns on KDI Save are tiered, based on your KDI Save amount and your qualifying KDI Invest balance:
| Tier | KDI Save Amount (RM) | Qualifying KDI Invest Balance | Interest 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 promotional rates took effect on 16 June 2026 and supersede any previously published rates. If you don't meet the qualifying KDI Invest balance for Tier 1 or Tier 2, your KDI Save balance defaults to the Base Tier rate of 2.88% p.a.
Interest is calculated daily based on your end-of-day balance and compounds daily, so the interest you earn is added back to your principal for the next day's calculation. Kenanga can revise these rates at any time, and the qualifying KDI Invest balance is based on whichever is higher between your total holdings or your aggregate net deposits.
Interest earned from KDI Save is exempt from personal income tax, in line with the tax treatment for money market fund and fixed deposit interest under existing income tax exemption orders.
Documents You'll Need
This applies to opening a KDI account in general, not just KDI Save.
Malaysian citizen:
- Front and back photo of your NRIC
Non-Malaysian permanent resident with a Malaysian bank account:
- Photo of your passport
- Valid Malaysian mobile number and email address
Sign-up is fully online through the KDI website or the KDI GO app. You don't need to submit anything in person.
Note: You must be at least 18 years old to apply. Kenanga does not accept U.S. citizens or U.S. Green Card holders.
Is KDI Save Worth It
For money you might need on short notice, KDI Save's combination of no lock-in and daily returns makes it a reasonable alternative to letting cash sit in a low-interest savings account. The Tier 1 rate of 3.88% p.a. is competitive against most fixed deposit rates, without the lock-in that comes with an FD.
The trade-off is the lack of PIDM protection and the fact that, as an investment product, KDI Save carries credit and interest rate risk tied to its underlying money market instruments, even if that risk is low. If capital protection matters more to you than the extra return, a PIDM-insured savings account or fixed deposit remains the safer option.
