What do I need to know about AmBank Interest Plus?
AmBank Interest Plus is an investment that combines a Fixed Deposit ( FD) and Unit Trust investment. You will potentially earn high interest from the fixed deposit portion and Unit Trust investment combined, making your money work twice as hard!
The minimum deposit is RM1,000, for a period of three months to twelve months for the fixed deposit. Although, you will be needing RM5,000 for a tenure of one month. You also need to deposit an equivalent amount to buy the Unit Trust - that makes your initial investment at least RM10,000 for one month.
When you sign up this fixed deposit investment, you will be required to invest the same amount in Unit Trust as well, which is a mildly risky investment type for those who are less familiar with Unit Trusts. You may have to pay a yearly management and commission fee too.
How do I collect my interest earnings?
You can have your earnings deposited into your current or savings account at maturity.
Can I automatically renew my investment?
Of course! You can choose to reinvest your:
- Principal plus earnings
- Principal only
Is this fixed deposit safe?
PIDM protects only the portion pledged as FDs against the loss of your money in the event of the bank’s failure, with coverage for up to RM250,000. It is completely complimentary.
As for the Unit Trust investment, the value of the Unit Trust fluctuates depending on the performance of the funds, the fund’s manager’s capability, as well as the overall market performance where the funds is invested. If you are more risk averse or if you are not familiar with Unit Trust investment, AmBank offers other types of FD options.