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.
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 Basic Savings Account automatically.
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.