What do I need to know about Bank Muamalat Basic Savings Account-i?
Basic savings account are required to be provided by all local banks in Malaysia to encourage Malaysians to enjoy basic banking service at a minimal cost. And so, this is a very basic saving account that is based on the concept of Al-Wadiah Yad Dhamanah, that allows you to save money with by earning a profit from all your account balances - it's easy to apply, and even easier to manage.
What are the features of this savings account?
Despite being a basic savings account, there's tons of benefits offered here. Internet banking via iMuamalat allows you to make your banking transactions conveniently anytime, anywhere. You can to track your past banking transactions, as well as having a passbook, if you wish to have one. Finally, have the convenience of cash withdrawal from any ATM machine at any bank branch.
How am I eligible to open this account?
This is an account is available for all Malaysians and permanent residents - you can open either a single or joint account. The minimum initial deposit is RM20.
What are the fees and charges?
The ATM card issuance fee is RM8, while its annual fee is RM8. The replacement of the card is RM8 but the passbook replacement is RM20.