For Bank Rakyat FD it does not cover by PIDM where it says Bank Rakyat is a Cooperative Bank, they are not covered under this explicit guarantee, and you will only get implicit protection from the Ministry of Finance under the Development of Financial Institution Act (DAFIA).

Does that mean explicit guarantee is the amount of investment return which quote by Bank Rakyat 4.01% for 12 months ?

While implicit guarantee means the amount you deposited ?

If lets say RM10K deposited and since there is no PIDM coverage
Explicit wise you wont get RM400 while implicit wise you will get back the RM10K ?

Hi AVFAN what I know PIDM would secure our deposit value if anything happens to our deposit amount below 60K.

Like cooperative Bank , BSN, BR ,MBSB and etc , they are no protected by PIDM , if anything happens to these bank all our deposited value will forfeited, since these bank are protected explicitly and not implicitly ?

Yes very true indeed and there are no step up rate , its a fixed 3.6 % pa and protected by PIDM

As far as I concerned 250k for saving accounts but for fixed deposit is up to 60K

Is it ?

Thanks AVFAN , by the way what about cooperative bank ? BSN, BR and MBSB ?
They only protected explicitly ? and what does it means ?