Is this an interest-bearing current account?
India International Bank Current Account is a basic current account without an overdraft facility. This current account also does not bear interest rate on deposit.
To open a current account with India International Bank, you are required to be minimum 18 years old. You can open this current account for personal use or register it for your entity, whether it is profit-earning businesses or non-profit organizations.
For individuals and sole proprietorship, you only need to prepare a minimum RM1,000 upon account opening, whereas associations, clubs, societies, and companies and businesses are RM2,000 and RM5,000 respectively.
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.