What is the Alliance Basic Savings Account?
First off, this is a personal savings account that you can use for all your banking needs, not just for savings.It comes with multi-layered interest rates for every Ringgit saved. The interest is calculated daily and will be credited half yearly into your account.
There is no hassle in setting up this account, and you will get all the necessary tools you need, to maintain and utilise this account to the fullest.
What are the other features of this savings account?
For your convenience, you can carry out transactions such as money transfers using Internet banking via allianceonline internet banking. You will also be issued a debit card, upon this savings account opening.
Also, since this a savings account, you will be given a savings passbook to monitor your bigger transactions if you don’t plan on using this account every day.
How do I qualify for the Alliance Basic Savings Account?
Put simply, almost anyone can apply for this Alliance account. For those who are aged 12 and below, you will be joint account holder either in trust or as a beneficiary. Parents can actually open this account for their children from the age of 1 month old. Finally, of course, anyone over the age of 12 will be able to open this account easily, and you will be issued a debit card to go with it immediately.
You will need a minimum of RM20 as an initial deposit, where you need to maintain RM20 in your account to avoid your account from closure. If it is found that you have a balance of RM0 for 60 days, your account will be shut down!
What are the fees and charges?
You will need to pay RM8 for the issuance of ATM / debit card, on top of a RM8 annual fee. Withdrawals made at other banks will be charged RM1 per withdrawal, while the OTC is RM5 per transaction.