Bank Rakyat

Bank Rakyat Adult Savings Account-i

Believe it or not, you can open this account with little to no initial deposit! You will need to make a deposit within 30 days of opening to earn interest

    • Islamic account
    • Free Passbook
    • Account Statement
    • eStatement (via email)

Features

What would make it different?

Online Banking
iRakyat
ATM Card

Fees & Charges

There are always fees but how much are they?

ATM Card Issuance Fee
RM8.48
Early Closure Fee
RM10.60

*inclusive of 6% GST

Requirements

Are you eligible for this account?

Minimum Age
12 years old
Minimum Initial Deposit
RM10

Frequently Asked Questions about Bank Rakyat Adult Savings Account-i

Things you might want to know

What is special about Bank Rakyat Adult Savings Account-i?

This is an Islamic savings account that can be open without a deposit! Does that make sense? But it is only valid until 30 days, meaning that you are required to deposit within 30 days to avoid account deactivation - this is convenient if you have to open a savings account, but have yet to have any funds to deposit.

What are the features of this savings account?

For your convenience, Internet banking via iRakyat is available for account holders to make banking transactions wherever they are in the world. A Bank Rakyat ATM card will be issued to you to allow you to make cash withdrawals conveniently. 

A passbook and account statement will be issued to account holders too, allowing you to easily keep track of previous transactions - low on cash and wonder what you've spent on last month? check your statements!

How will I be qualified to open this account?

This is an account for all citizens and non-citizens aged 12 years and above. This is not merely an account for individuals, but can also be set up as a joint account. Any clubs, co-operatives and companies wishing to open the Bank Rakyat Adult Savings Account-i are free to do so. The initial minimum deposit that is required is just RM10.

Any other hidden fees and charges?

A card replacement will set you back RM8, while the cost for a passbook replacement is RM16. Any extra account statements requested will costs you an additional RM10.

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