A folded camera module, comprising: an optical path folding element, OPFE, for folding light from a first optical path toward a second optical path that is substantially orthogonal to the first optical path, a lens with a lens optical axis along the second optical path, the lens having an effective focal length, EFL, in the range of 5-40 mm; an image sensor; a module frame surrounding the folded camera module, the module frame having an inner wall pointing towards the OPFE, a module height H M measured along a direction parallel to the first optical path, a module length L M measured along a direction parallel to the second optical path and a module width W M measured along a direction perpendicular to both the first optical path and the second optical path; and an OPFE actuator including a single voice coil motor, VCM, for rotating the OPFE around a first rotation axis and around a second rotation axis that is perpendicular to the first rotation axis to perform optical image stabilization, OIS, around respectively, a first OIS direction and a second OIS direction, wherein the OIS is by more than ± 1 degrees around each of the first OIS direction and the second OIS direction, wherein a minimum distance Y Min between the OPFE and the inner wall of the module frame in an extreme rotation OPFE position measured along a direction parallel to the second optical path fulfills Y Min ≤ 2 mm, wherein a minimum distance X MIN between the OPFE and the inner wall of the module frame in an extreme rotation OPFE position measured along a direction perpendicular to both the first optical path and the second optical path fulfills X Min ≤ 3 mm, wherein a ratio of Y Min /L M ≤ 0.075, and wherein a ratio of X Min /W M ≤ 0.25. an optical path folding element, OPFE, for folding light from a first optical path toward a second optical path that is substantially orthogonal to the first optical path, a lens with a lens optical axis along the second optical path, the lens having an effective focal length, EFL, in the range of 5-40 mm; an image sensor; a module frame surrounding the folded camera module, the module frame having an inner wall pointing towards the OPFE, a module height H M measured along a direction parallel to the first optical path, a module length L M measured along a direction parallel to the second optical path and a module width W M measured along a direction perpendicular to both the first optical path and the second optical path; and an OPFE actuator including a single voice coil motor, VCM, for rotating the OPFE around a first rotation axis and around a second rotation axis that is perpendicular to the first rotation axis to perform optical image stabilization, OIS, around respectively, a first OIS direction and a second OIS direction, wherein the OIS is by more than ± 1 degrees around each of the first OIS direction and the second OIS direction, wherein a minimum distance Y Min between the OPFE and the inner wall of the module frame in an extreme rotation OPFE position measured along a direction parallel to the second optical path fulfills Y Min ≤ 2 mm, wherein a minimum distance X MIN between the OPFE and the inner wall of the module frame in an extreme rotation OPFE position measured along a direction perpendicular to both the first optical path and the second optical path fulfills X Min ≤ 3 mm, wherein a ratio of Y Min /L M ≤ 0.075, and wherein a ratio of X Min /W M ≤ 0.25.