PIDM covers eligible deposits when a member bank fails. It does not make every product sold by a bank an insured deposit.
Apply the limit to the right group of accounts
The general limit is RM250,000 per depositor per member bank, including interest or return. Eligible conventional and Islamic deposits have separate limits. Check the legal bank and ownership category; a different app, pocket name or branch does not by itself create separate protection.
Work through your balances
Illustrations below assume eligible personal deposits in the same ownership category; figures include any accrued return.
| Situation | Result |
|---|---|
| RM150,000 savings + RM120,000 FD at one member bank, same category | RM270,000 combined; RM250,000 protected and RM20,000 above the limit. |
| RM150,000 at member bank A + RM120,000 at member bank B | Each is below its separate RM250,000 limit. |
| RM10,000 main balance + four RM10,000 pockets at one bank | RM50,000 altogether, not five independent RM250,000 allowances. |
Joint accounts need a separate check
PIDM provides separate protection for eligible joint accounts, but the joint limit is collective, not RM250,000 for every holder. Correct ownership records matter. Use PIDM’s category guidance for joint, business or trust holdings instead of applying the personal-account examples blindly.
Bank deposit versus investment
Unit trusts, shares and gold investment products are not insured deposits. For a concrete example, GO+ inside TNG eWallet is a money market fund, and its provider explicitly states it is not PIDM-protected. A familiar banking/payment app does not change that product classification.
Check these before placing money
- Find the exact legal bank in PIDM’s member list.
- Read the product disclosure and the bank’s list of insured deposits.
- Add eligible balances in the same category, including accrued returns.
- Keep your personal details and ownership records with the bank current.
A scam is a different problem. Deposit insurance is not a blanket refund promise for money you sent to a scammer or an unfamiliar card charge. Use urgent reporting; do not wait for a deposit-insurance claim process.
An app outage also does not itself establish bank failure. For ordinary access problems, use account recovery guidance.
Reviewed 1 October 2026.
PIDM: protection, examples and excluded productsPIDM: deposit-insurance FAQTNG Digital: GO+ is not an insured depositBNM: unauthorised-transaction reporting