What should I know about Bank Rakyat eCurrent Account-i?
If you’re looking for a simple, fast and efficient banking services, Bank Rakyat eCurrent Account-i is the name of the game.
Follows the concept of Wadiah Yad Dhamamah, this electronic Islamic current account can be opened by individuals and non-individuals with minimum initial deposits of RM500 and RM1,000 respectively.
What are the advantages of this current account?
Bank Rakyat eCurrent Account-i is a profit-bearing current account whereby your deposit will earn hibah (gift) at the discretion of the bank.
That’s not all, it also provides you greater flexibility in account management, cost effective, transparent and efficient cheque managing process.
You can transact online at any time as there is no limit in banking hour and location. Also, expect your monthly account to be delivered straight into your banking account at zero cost!
What are the fees and charges I should know?
These are few but significant fees and charges you should be aware of:
- Early Account Closure: RM20, if closed within 3 months of opening
- Debit Card Annual Fee: RM8
- Marked cheque: RM15
- GST: 6%, where applicable
Who can apply for this current account?
All Malaysian individuals aged 18 years old and above, who are also not a bankrupt person, can open this current account. You will also need to have an introducer for this electronic current account opening.
Is it safe to keep my money in this current account?
You can rest assured that your savings in this basic current account is protected for up to RM250,000 under the Perbadanan Insurans Deposit Malaysia.