What is the Islamic YOUth Savers Account?
This CIMB Islamic savings account is made especially for the younger money makers of this generation, kids and young adults between the ages of 12 and 24. This account is meant to encourage and educate young people on the benefits and perks of saving.
CIMB’s Islamic YOUth Savers will definitely give you a leg up there, offering great deals and incentives to save more.
How does this account work?
Much like other junior savings accounts, anyone between the age of 12 and 18, will need to have a parent or guardian sign the registration papers with them. For applicants over 18, you can open an account whenever you want.
Please do take note that registration with a parent or guardian do not make it a joint account, simply an accountable one. To open the account, you only need a minimum amount of RM100.
What are the benefits?
First of all, saving with the YOUth Savers-i will earn you interest regardless of your account balance. Starting at 0.60% p.a. the more you save the more you earn with an interest rate of 1.45% p.a. when you have more than RM100,000.
Rates aside, you also get to earn bonus interest with your savings, by just being consistent in them. Maintain a consistent average quarterly balance to earn double the interest every quarter.
What else do I get with this account?
Like any other savings account, you get to have a Debit card with this one too for easy banking. You can also manage your account easily on CIMB Clicks and get all your updates, transactions, and rewards online.