Housing Development Account

Benefits & Privileges

Specialised cash-flow management

Efficiently manage project receipts, expenditure on development stages and uphold compliance with regulatory deposit requirements.
Online accessibility & secure banking

Perform account enquiries and monitor project-specific transactions via OCTO Biz - our digital banking solution for your business.
Comprehensive reporting

Complimentary monthly statements and project transaction summaries, allowing you to maintain clear audit trails.

Eligibility & Requirements

Applicable to licensed housing developers operating in Malaysia

Minimum initial deposit of RM3,000 for all entity types excluding clubs, associations or societies where a minimum initial deposit of RM1,000 is required. Please refer to important notes below.

Protected by PIDM up to RM250,000 for each depositor. To view PIDM's brochure, click here.

Fees & Charges

Full list of Fees & Charges here.

Interest Rates

The interest rate for your Housing Development Account will be based on the prevailing 1-month Fixed Deposit rate, minus 1%, or 0%, whichever is higher.

Please click here to view 1-month Fixed Deposit account rate.

FAQ

Housing Development Account FAQ

Key Downloads

Business Account Application Form and Guidelines

Terms & Conditions

Current Accounts Terms and Conditions (ENG)

Current Accounts Terms and Conditions (BM)

Important Notes

The Obligatory Sum is 3% of your project’s estimated construction cost, certified by your project architect. If you have already deposited the Obligatory Sum with the Controller of Housing or provided a bank guarantee for that amount in favour of the Controller of Housing, you can open the account with the minimum initial deposit listed under ‘Eligibility & Requirements’. If not, you will need to open the account with the Obligatory Sum as your initial deposit and keep this balance in the account at all times.

Need More Information?

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Local: 1300 888 828
Overseas: +603 2297 3000

Monday to Friday (8am-7pm), Saturday from 8am to 5pm (not inclusive of public holiday)