AmBank

AmBank Savers' G.A.N.G

Free coin box and Personal Accident insurance when you open an account for your junior. Earn bonus monthly and yearly interest on your child's savings!

    • Goal-Saving account
    • eStatement (via email)
  • Min. AmountMax. AmountInterest Rate
    RM10no maximum2% p.a.

Features

What would make it different?

Online Banking
Amonline
PIDM Protected
ATM Card

Fees & Charges

There are always fees but how much are they?

Inactive Account Fee
RM10.60
Early Closure Fee
RM21.20

*inclusive of 6% GST

Requirements

Are you eligible for this account?

Maximum Age
12 years old
Minimum Initial Deposit
RM50
Minimum Balance
RM10

Frequently Asked Questions about AmBank Savers' G.A.N.G

Things you might want to know

What is great about the AmBank Savers G.A.N.G account?

Allow your little one to discover the joys of saving and the importance of financial planning for a brighter future. To fully embrace the habit of saving, you can print out a weekly savings plan provided by Ambank to manage how much you want to deposit each week plus monitor your child's total savings.

You can get a free Camel coin box when you deposit a minimum of RM300 into your child's new AmBank Savers G.A.N.G account. Use it to keep loose change or to temporary store a portion of their weekly allowance before depositing into the account. The minimum initial deposit is RM50 to open this account while the minimum balance to maintain is at least RM10.

Does this Ambank savings account come with an insurance plan?

Your bundle of joy will have free Personal Accident insurance of up to RM50,000 when registered for this account.

How much interest can my child earn?

The basic interest rate is a generous 0.2% p.a., however you will get a monthly interest boost if the deposits exceed withdrawals by at least RM1 each month. 

If your you and your child can keep this up for 12 consecutive months, there's even an additional yearly bonus to look forward to! Your interest will be calculated daily and to be credited to the Ambank Savers' G.A.N.G account every month.

How old must my child be to apply for the AmBank Savers G.A.N.G?

AmBank Savers' G.A.N.G is an account for kids below 12 years old. Once he or she has reached 12 years old, the account will automatically be converted to AmBank's Basic Savings Account automatically.

Am I allowed to withdraw cash at the ATM?

Of course! In fact, you'll be allowed an unlimited number of cash withdrawals with a cap of RM200 a day. The ATM card is free for the first time, however there's a RM15 for a card replacement.

Can I check the account balance online?

Yes, you can monitor your kid's spending habits through AmOnline. On the flipside, your child can also manage the account conveniently using AmBank's online banking application.

What are the other fees and charges I need to pay?

If the Ambank account is inactive for more than 3 months, there's an annual fee of RM10. The account closure is RM20 if terminated within 3 months of opening.

Read More