AmBank Basic Savings Account

Applicable for those as young as 12 years old, with the motivation to start saving! Manage your money via AmOnline Internet Banking and e-Banking centres.

AmBank Basic Savings AccountStart Young!
Interest Rate
0.25% to 0.4% p.a.
Min. Deposit
RM20
Account Statement
Available

Interest Rate

What you earn based on the amount that you have in your account

Min. AmountMax. AmountInterest Rate
RM10RM50,0000.25% p.a.
RM50,001RM100,0000.3% p.a.
RM100,001No maximum0.4% p.a.

Features

What would make it different?

Online Banking
AmOnline
PIDM Protected
Up to RM250,000
ATM Card
Available

Fees & Charges

Annual Fee
RM8
MEPS Withdrawal Fee
RM1
Early Closure Fee
RM20
Inactive Account Fee
RM10

Requirements

Minimum Age
  • 18 years old
Minimum Initial Deposit
RM20
Minimum Balance
RM10

More Information

What can this account do for me?

The AmBank Basic Savings account is much like any other savings account available on the market, only it comes with a couple more benefits. 

For one thing, with this savings account, you can start as young as 12 years old and retain the account as long as you want.

Is there an interest rate for this account?

Yes, similar to other premium savings accounts, this AmBank Basic Savings comes with an interest rate of 0.25% p.a. up to 0.4% p.a. 

It all just depends on how much is in your account at a time, and of course the principle applies here, ‘the more you save, the more you earn’.

What do I need to open the account?

Not much really, all you need is your NRIC and if you are under the age of 18, have a legal guardian present. 

This particular account, allows for you to start young. Therefore, anyone over the age of 12 can open the account with a minimum deposit of RM20.

The great thing about it is, that since this is not a Junior account, you can continue to use the same account with the same benefits till the age of 100 is you’d like. 

You will not have to convert the account after you turn 18.

What do I get with this account?

You will of course receive a passbook with your account, upon request, which will be useful for younger applicants to track their savings deposits. 

Aside from that, you will also get an ATM Card for all your transaction needs, deposits, withdrawals, transfers, etc.

With AmBank, you can register for an online account, and get all your account updates and make changes online. Download the mobile app as well for easy access.