Dear Sifus..
Would like enquire .. does PIDM covers these deposits
1.. cash money parked inside full flexi homeloan account... for example Ambank Homelink account tied to a houseloan.. technically these are not saving nor current account ( as homelink account does not pay any interest).. and as a matter of fact existing ambank customer having existing saving account cannot bind it to new houseloan.. they still need to open another Homelink account.

2. Extra money paid online into semiflexi homeloan , ( these extra money paid can be redrawn anytime, with some fess). For example .. Maybank Maxihome loan.. extra money paid online ( beyond the monthly instalment commitment) will be able to reduced outstanding loan principal ..and with the website account showing extra cash parked under "payment in Advance“” section and these extra money can be redrawn anytime with rm50 charges.
So does PIDM covers this " payment in Advance".. ?
The money inside "payment in advance" belongs to who ? Bank themselve or loan customer ( remember extra cash can redrawn anytime).. .. if Bank insolvent. whose lost is it

Thks in advance

Thanks for the brochures, but dont seems to have answer to my questions.

Specifically the fully flexi homeloan account. Some people like to park money inside flexi account to offset loan interest. But this account is technically not saving account. ? Or fully flexi loan account considered under PIDM coverage ?

Thanks for the brochures, but dont seems to have answer to my questions.

Specifically the fully flexi homeloan account. Some people like to park money inside flexi account to offset loan interest. But this account is technically not saving account. ? Or fully flexi loan account considered under PIDM coverage ?