With Merdeka Month bringing a wave of banking promotions, most comparisons tend to focus on fixed deposits, personal financing or credit cards.
Business current accounts, however, get far less attention despite being one of the most essential banking tools for SMEs managing day-to-day cash flow.
To help business owners make a more informed decision, Newswav reviewed the promotional Business Current Account rates currently offered by five Malaysian banks – MBSB Bank, Standard Chartered, AmBank, Bank Muamalat and Maybank – based on three factors: the profit or interest rate on offer, the minimum balance required to qualify, and the overall value for SMEs managing operational funds.
(1) MBSB BANK – 3.00% P.A.
MBSB Bank's Current Account-i (SME) currently offers 3.00% p.a. on balances of RM50,001 and above, among the highest promotional rates in the market at this balance range. The rate runs under a campaign period from 11 August to 31 October 2026, is open to both new and existing SME customers, and is Shariah-compliant, with deposits protected by PIDM up to RM250,000.
Find out more: https://www.mbsb.com
(2) STANDARD CHARTERED – 2.58% P.A.
Standard Chartered’s Smart Business$aver-i offers a bonus-inclusive rate of 2.58% p.a. – a 0.08% board rate plus a 2.50% bonus – for accounts with an average monthly balance above RM500,000. The higher qualifying balance makes it better suited to medium-sized businesses or those that consistently hold larger cash reserves; the offer is open to businesses that were not already Standard Chartered deposit customers as of 30 June 2026.
Find out more: https://www.sc.com/my/
(3) AMBANK – 2.38% P.A.
AmBank's SME Current Account/Current Account-i offers 2.38% p.a. to new customers who register for AmBank@Work Payroll, on balances of RM100,000 and above. Existing customers with payroll earn 2.28%, while accounts without payroll registration earn 2.08% regardless of customer status. No interest is earned on balances below RM100,000, so this account rewards SMEs that keep steadier cash reserves.
Find out more: https://www.ambank.com.my
(4) BANK MUAMALAT – 1.50% P.A.
Bank Muamalat's CA BizPlus offers tiered profit rates topping out at 1.50% p.a. for balances of RM100,000 and above, under a campaign that has been running since May 2025 and remains open until further notice. Smaller balances still earn a return, starting from 0.40% p.a. on deposits from RM1,000.
Find out more: https://www.muamalat.com.my
(5) MAYBANK – 1.25% P.A.
Maybank's ongoing Business Deposit Campaign offers additional returns of up to 1.25% p.a. for Islamic Business Accounts with balances of RM55,000 and above (up to 1.00% p.a. for conventional accounts), alongside entries into a prize draw for signing up further business solutions. It has the lowest qualifying balance on this list, which may suit smaller or newer SMEs.
Find out more: https://www.maybank2u.com.my
BEFORE YOU SWITCH
Because these are campaign rates, they are time-limited and will typically revert to each bank's standard board rate once the promotion period lapses – so it's worth checking the full terms and conditions, and your business's typical average balance, before switching accounts. SMEs should also weigh other overheads, such as transaction fees and cheque charges, alongside the headline profit rate when deciding where to bank.
Rates and figures are correct as at 24 August 2026 based on information published by each bank and are subject to change. This article is for general information only and does not constitute financial advice.
