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### ⚡ Quick Answer
Maybank wins on branch coverage, brand trust, and app quality. RHB edges ahead on fixed deposit rates for certain tenures. For most Malaysians, Maybank is the default — but RHB deserves a look if you prioritise FD returns or do most banking digitally.
## Maybank vs RHB: At a Glance
Both Maybank and RHB are among Malaysia’s five largest banks. Both are PIDM-insured, offer Islamic banking divisions, and cover the full range of personal banking products. But the differences matter depending on what you care about most.
| Feature | Maybank | RHB |
|---|---|---|
| Savings Interest (best rate) | Up to 2.00% p.a. (MAE) | Up to 1.85% p.a. (Smart Account) |
| Fixed Deposit (12 months) | ~3.05% p.a. | ~3.10% p.a. |
| Mobile App | MAE + M2U | RHB Banking App |
| Branch Network | 400+ nationwide | 200+ nationwide |
| Minimum Balance Fee | None on basic accounts | RM500 on some accounts |
| Islamic Banking | Maybank Islamic | RHB Islamic |
| PIDM Protected | Yes (up to RM250k) | Yes (up to RM250k) |
## Savings Accounts: Who Pays More?
**Maybank** runs a tiered savings structure. The basic Savings Account earns around 0.40% p.a. — low, but typical for conventional banks. The real story is the MAE account, which offers up to 2.00% p.a. on the first RM10,000 when you meet basic spending criteria through the MAE app. That’s genuinely competitive and puts Maybank ahead of many conventional banks on savings interest.
**RHB** offers the Smart Account, earning up to 1.85% p.a. with conditions. The base rate without meeting criteria is around 0.50% p.a. RHB also has the RHB Junior Account for children’s savings.
For everyday savings, Maybank’s MAE account wins. But the gap closes if you’re not actively using the app to trigger the higher tier.
**Winner: Maybank**
## Fixed Deposit Rates Compared
FD rates shift regularly, but here’s where both banks sit as of mid-2026:
| Tenure | Maybank FD | RHB FD |
|---|---|---|
| 1 month | 2.80% p.a. | 2.85% p.a. |
| 3 months | 2.90% p.a. | 2.95% p.a. |
| 6 months | 3.00% p.a. | 3.05% p.a. |
| 12 months | 3.05% p.a. | 3.10% p.a. |
RHB consistently beats Maybank by roughly 0.05% p.a. on standard FD. On RM50,000 over 12 months, that’s RM25 more per year — not huge, but not nothing. On RM200,000, that’s RM100 extra.
Neither bank matches the rates available through high-yield digital savings accounts or money market funds, but both offer the security of a full conventional bank with PIDM protection.
**Winner: RHB**
See our Best Savings Account in Malaysia 2026 guide for a broader comparison including digital banks.
## Mobile App Experience
The MAE app has become one of the best conventional bank apps in Malaysia. It’s fast, clean, and tightly integrated with daily spending — QR payments, savings goals, cashback tracking, and a slick onboarding. Maybank’s older M2U app is also solid for traditional banking tasks, though it’s more functional than delightful.
The RHB Banking App consolidated everything into one place (previously it was split). It handles DuitNow, FPX transfers, FD placement, and loan tracking well. Users generally rate it positively, though it lacks the lifestyle layer that MAE has built around daily spending.
**Winner: Maybank** — MAE is genuinely excellent.
## Branch and ATM Coverage
This isn’t even close. Maybank has 400+ branches across Malaysia, including in smaller towns, East Malaysia, and rural areas. If you’re in Sabah, Sarawak, or a town outside the Klang Valley, Maybank is almost always accessible.
RHB has 200+ branches, heavily concentrated in urban centres. For city-dwellers, this is fine. For anyone outside Klang Valley, Penang, or JB, Maybank is significantly more practical.
**Winner: Maybank**
## Fees and Charges
Maybank keeps fees simple. Basic savings accounts have no minimum balance requirement. OTC teller cash withdrawals are free up to twice a month. DuitNow transfers are free. IBG is RM0.10 per transaction.
RHB requires RM500 minimum daily balance on some accounts to avoid a RM10/month maintenance fee — this catches some customers off guard. ATM withdrawals at non-RHB ATMs cost RM1. DuitNow and online transfers are free.
If you keep a low balance or don’t regularly meet RHB’s minimum threshold, Maybank is cheaper to maintain.
**Winner: Maybank**
## Islamic Banking
Both banks have strong Islamic banking arms. Maybank Islamic is Malaysia’s largest Islamic bank by assets and offers a full suite of Shariah-compliant products. RHB Islamic is competitive — their General Investment Account (GIA) rates often match or marginally beat Maybank Islamic’s equivalent products.
Both are supervised by Bank Negara Malaysia and comply with the Islamic Financial Services Act 2013.
**Winner: Tie** — both are credible, and your choice between them depends on the specific product rates at the time you’re comparing.
## Loans and Financing
Maybank offers home loans, personal loans, and car loans at competitive rates, plus the Flexi Home Loan structure that lets you redraw excess payments. RHB also offers home loans with flexible structures and has run competitive promotional rates on housing loans in recent years.
For home loans specifically, it’s worth getting quotes from both. See our guide to the Best Home Loan Malaysia 2026 for a side-by-side of all major lenders.
**Winner: Tie** — worth comparing both at time of application.
## Our Recommendation
**Go with Maybank** if you want the best everyday banking experience — better app, more branches, no minimum balance hassle, and a competitive savings rate through MAE.
**Go with RHB** if you’re primarily placing fixed deposits and want to squeeze slightly better FD rates from a conventional bank.
If you want to earn significantly more on your savings without relying on conventional banks, consider a high-yield digital bank. RytBank offers some of Malaysia’s best savings rates right now — use referral code **W4DFE** to get started.
## Frequently Asked Questions
### Is Maybank or RHB better for savings in 2026?
Maybank’s MAE account offers up to 2.00% p.a., edging out RHB’s Smart Account at up to 1.85% p.a. If you use MAE regularly, Maybank wins on savings interest.
### Which bank has better FD rates — Maybank or RHB?
RHB offers marginally better fixed deposit rates, approximately 0.05% p.a. higher than Maybank across most tenures. The gap is small but favours RHB for larger FD placements.
### Does Maybank charge fees for low-balance accounts?
Maybank’s basic Savings Account has no minimum balance fee. Some RHB accounts charge RM10/month if your balance falls below RM500.
### Are both Maybank and RHB safe banks?
Yes. Both are licensed under Bank Negara Malaysia and PIDM-insured up to RM250,000 per depositor. Both have been operating for decades and are systemically important to Malaysia’s banking system.
### Can I switch from RHB to Maybank easily?
Yes. You can open a Maybank account online via the MAE app in minutes. Once open, you can gradually move direct debits and standing instructions over. There’s no fee to close an RHB account.
### Which bank has a better app in Malaysia?
Maybank’s MAE app is widely considered one of the best conventional bank apps in Malaysia — fast, clean, and integrated with daily spending. The RHB Banking App is functional but less polished by comparison.
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