What is Bank Muamalat BeeSTAR-i Savings Account?
This is a savings account for both children and teenagers alike, based on the Islamic concept of Al-Mudharabah. Young savers will experience and enjoy earning profit from all the account balances for up to 2% p.a. for a balance of RM2000 and above.
There are free benefits to be had with this savings account - your child will have one year free coverage with a Takaful Personal Accident and Khairat plan when signing up.
What are the other features of this account?
With the Bank Muamalat BeeSTAR-i Savings Account, junior savers are allowed to hold their own ATM card that allows them to make cash withdrawals from the ATM provided by the bank. Free withdrawals area allowed, but only if you have an account balance of at least RM5000 throughout the month, and they are limited to 5 per month.
Convenience of e-Muamalat Cash and Cheque Deposit Machine at major Bank Muamalat branches and easy access to ATM services nationwide.
How to be eligible for this savings account?
This is first and foremost a savings account made with those below 18 in mind - with that said, noone above that age will be considered for the Bank Muamalat BeeSTAR-i Savings Account.
The initial minimum deposit is RM25 and you are required to maintain RM10 on your balances to avoid account closure.
How much do I need to pay for the fees and charges?
Once you are issued with an ATM card, it will costs you RM8. You annual fee for the ATM is also RM8, but you will then be able to enjoy unlimited ATM withdrawals for the whole year. In the event that you want to make replacement for your ATM card for any reason at all, you are required to pay, again, RM8.