Why should I open an HSBC Basic Savings Account?
With this basic savings account, you are eligible to earn a flat interest rate of 0.25% which is good enough for a basic savings account, as it may happen to other banks where there is no interest rate for their basic accounts.
What are the features and benefits?
Despite this being a basic account, you are allowed to access HSBC's online banking to make your transactions. For keeping track of your past banking transactions, you can always access it to check on your e-statement, and your account balances as well as keep track of your transactions on the go.
And for your convenience, you will also be getting a complimentary HSBC Visa Debit Card for easy payment and cash withdrawals at any ATM facility nationwide and even overseas.
Who can apply for this basic savings account with HSBC?
This savings account is open to Malaysians with a valid IC, Malaysian permanent residents with a valid PR card, including non-Malaysians with a valid passport. As long as you're 18 years old and above, you're eligible to apply for this savings account.
On top of that, since this is a deposit account, a minimum deposit of RM20 is required for account opening.
Do I need to pay any fees and charges?
Yes, there are several fees and charges you should take note of. You can refer to the charges from the list below.
- The debit card replacement fee is RM10.
- Once exceed the complimentary 8 ATM withdrawals, it will cost you RM1 for each transaction.
- The MEPS withdrawal at other banks is RM1 per withdrawal.
- RM5 will be imposed on your account for each overseas withdrawal.
- Bank statement retrieval:
- If the statement is 12 months old or less: RM2 per page
- If the statement is more than 12 months old: RM20 per request + RM2 per page
- Inactive account fee (dormant account fee):
- For account balances up to RM10: The account will be closed, and the balances will be absorbed by the Bank as a charge
- For account balances greater than RM10: An annual service fee of RM10 will be charged until the remaining balances are sent to Unclaimed Monies
