With the global financial turmoil, US FDIC has increase bank account insurance for each depositors per bank from US$100,000 to US$250,000. But for Malaysians, there is no change i.e. each person with bank account deposits are insured up to max RM60,000 only per bank says PIDM! That's the maximum you can get back if bank go bust like several US banks whose size are many times bigger than Maybank.
http://www.pidm.gov.my
All types of depositor, whether businesses or individuals, are protected. The maximum limit of coverage under the PIDM Act is RM60,000 per depositor per member institution. This includes both the principal balance of a deposit and the interest/return. The RM60,000 limit provides for 95% of existing depositors to be protected in full. The Malaysian deposit insurance system provides separate coverage for conventional and Islamic deposits.
Types of deposits eligible for protection
Ringgit denominated deposits that are eligible for protection under the deposit insurance system includes:
- Current and savings deposits
- Fixed deposits
- Investment deposits
- Certified cheques and bank drafts drawn or made against a deposit account
Deposits NOT eligible for protection
Not all monies placed with member institutions are insured by PIDM. Deposits that are NOT eligible for protection are:
- Deposits not payable in Malaysia
- Foreign currency deposits
- Negotiable instruments of deposit (NIDs) and other bearer deposits
- Repurchase agreements
- Money market deposits
- Stocks and bonds
- Unit trusts
Under the PIDM Act, there is also separate coverage limit of RM60,000 for a depositor who holds a deposit under each of the following categories:
a) Islamic accounts
b) Joint accounts
A joint account is owned by two or more persons in which each person has authority to withdraw monies from the account.
c) Trust accounts
A trust account is an account held by a trustee for the benefit of another party ( beneficiary).
d) Sole proprietorships
A sole proprietorship is a business owned and managed by one person.
e) Partnerships
A partnership is a business owned and managed by two or more persons.
f) Professional practices
A professional practice is a business of a professional person who is exercising his or her profession.
文章转载自互联网
http://www.pidm.gov.my
All types of depositor, whether businesses or individuals, are protected. The maximum limit of coverage under the PIDM Act is RM60,000 per depositor per member institution. This includes both the principal balance of a deposit and the interest/return. The RM60,000 limit provides for 95% of existing depositors to be protected in full. The Malaysian deposit insurance system provides separate coverage for conventional and Islamic deposits.
Types of deposits eligible for protection
Ringgit denominated deposits that are eligible for protection under the deposit insurance system includes:
- Current and savings deposits
- Fixed deposits
- Investment deposits
- Certified cheques and bank drafts drawn or made against a deposit account
Deposits NOT eligible for protection
Not all monies placed with member institutions are insured by PIDM. Deposits that are NOT eligible for protection are:
- Deposits not payable in Malaysia
- Foreign currency deposits
- Negotiable instruments of deposit (NIDs) and other bearer deposits
- Repurchase agreements
- Money market deposits
- Stocks and bonds
- Unit trusts
Under the PIDM Act, there is also separate coverage limit of RM60,000 for a depositor who holds a deposit under each of the following categories:
a) Islamic accounts
b) Joint accounts
A joint account is owned by two or more persons in which each person has authority to withdraw monies from the account.
c) Trust accounts
A trust account is an account held by a trustee for the benefit of another party ( beneficiary).
d) Sole proprietorships
A sole proprietorship is a business owned and managed by one person.
e) Partnerships
A partnership is a business owned and managed by two or more persons.
f) Professional practices
A professional practice is a business of a professional person who is exercising his or her profession.
文章转载自互联网
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