What do I get from Bank of Nova Scotia Fixed Deposit?
Open to everyone, this fixed deposit account only requires a minimum of RM1,000 from 2 months onward if you want to earn higher interest.
There is a one month option available which you need to deposit a minimum of RM5,000.
You can either choose to have interest paid as a lump sum at maturity or get it paid into your account every month.
The monthly payment option is great and well worth considering, not many banks offer that.
What do I need to open an account?
You can open this account with your MyKad and a cheque or some cash. The bank will issue you a fixed deposit certificate once your application has been approved.
Can I withdraw my money whenever I want?
Bank of Nova Scotia does not permit a premature withdrawal of your money in this fixed deposit account.
Besides, you will not get paid interest at all when you decide to take your money out before your fixed deposit reaches its full term.
Can I close my fixed deposit account before the maturity date?
Terminations may be granted upon request, but the bank may either impose a penalty fee or refuse to pay out interest on your withdrawals.
The best way to make money from an FD account is to make a commitment and keep to it.
Does PIDM protect this Bank of Nova Scotia Fixed Deposit?
Yes. This fixed deposit is eligible for protection by PIDM for up to RM250,000 per person per bank.