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Fixed Deposits Print E-mail

Can I withdraw my fixed deposit any time during my stay in Malaysia?

Participants are not allowed to withdraw the fixed deposit for the whole duration of the one year period, unless for emergency cases and with prior approval from the Ministry of Tourism.

Can I place the fixed deposit in a Malaysian bank located in my country?

No. The fixed deposit account must be opened in any Malaysian bank or financial institution located in Malaysia.

Can the purchase of a house in Malaysia which is valued more than RM250,000.00 be considered as having fulfilled the financial criteria for this programme?

No. Participants are required to fulfill the fixed deposit requirement or monthly off-shore income for those age 50 years and above as the purchase of a house is not compulsory for participants under this programme.

Am I allowed to withdraw my fixed deposit for a few months and then topped it back later?

No. Participants are not allowed to do this, unless for an emergency purpose and with prior approval from the Ministry of Tourism.

When can I withdraw my fixed deposit?

After a period of one year, the participant may withdraw his/her fixed deposit for approved expenses relating to house purchase, education for children in Malaysia and medical purposes OR when he/she decides to terminate his/her stay in Malaysia by first informing the Ministry of Tourism of his/her intention at Malaysia My Second Home Centre. Participants can apply to withdraw part of their fixed deposit for emergency cases such as medical purposes, etc. with prior approval of the Ministry of Tourism.


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