What is the AmBank AmGenius?
You know it, I know it, everyone knows it - your child has a bright future ahead. What better way to ensure the future of your child than a long term savings account that not only gives you an interest rate that matches that of a fixed deposit, but also gives free Personal Accident Insurance of up to RM50,000 to your precious.
That's awesome, what else will we be getting?
Upon opening an account with an initial deposit of RM300 and above, you will receive a complimentary Coin Box. This is excellent news, as a coin box will further motivate your child to continue saving all those loose change and extra cash laying around not working it's worth in interest earnings.
The interest earned will be credited into the AmBank AmGenius account monthly.
I see. Are there anything else I should be aware of for this account?
Yes, always! Be aware that only one withdrawal per month is allowed for this savings account, and you will need to maintain a balance of RM10 in the account.
Okay. What do I need to apply for this product?
This is a very easy and cheap account to open, applicable for those below 18 years old. You will need:
- Minimum initial deposit of RM1
- Identification card