What is the CashRich Savings Account?
As the name suggests, this is a savings account where you can get cash rich a little faster than normal with a regular account. This account is open to almost everyone, so you won’t have to be worried about missing out on something.
Who can apply for this account?
Unlike most savings account that is meant for only individuals or companies and businesses, this one is open to both in a sense. Individuals and joint account holders have equal opportunity with this account. On top of that, clubs, societies and associations are also welcome to open a CashRich account with MBSB.
Following that, this account is open to both Malaysians, Permanent Resident Citizens and Non-Citizens alike.
What are the account requirements?
First of all, you will need to be of age to be eligible for this kind of savings account, so if you’re 18 and above then you are good to go. You will need to bring along your identification documents for the registration, so NRIC, passports, work permits, etc.
To open the account, you will need to put in an initial deposit of RM100.
What do get with the CashRich Savings Account?
The most important feature of the CashRich account, is the high interest rate on your savings. Regardless of your account balance whether it be RM10 or RM10,000 you will have an interest rate of 2.68% p.a.
All interest will be computed daily and credited monthly into your account. Which means you will get your returns steadily every month, instead of having to wait for a maturity period.
How do I manage the account?
Upon opening the account, you will get a passbook and debit card for all your transaction needs along with there being a way to keep track of your deposits. Also, upon your request, you can opt to get a monthly or bi-annual statement delivered to you.