Tell me about the Maybank Basic Savings Account.
This is a hassle-free and easy to open basic savings account from Maybank - no service fees or maintenance charges, as long as you maintain a balance of RM20 in your account.
You will earn interests of up to 1.66% p.a. on all your balances and have the option to use online banking via Maybank2u.com.
Do I need to pay a fee for withdrawing cash at the ATM?
For this basic savings account, you will have two options for using your ATM card.
Option 1 - "Pay-as-you-use" there will be no charges for the first 8 ATM withdrawals and 2 GIRO transactions. You will subsequently need to pay a fee for each transaction.
Option 2 - There will be an annual fee of RM8, for unlimited OTC and ATM cash withdrawals.
If you are using the Maybankard Visa Debit, you can also earn TreatsPoints on your retail spending. TreatsPoints can be then used to redeem a variety of gifts and prizes.
Any hidden fees and charges I need to be aware of?
There is one that you should be aware of. If you choose to close your Maybank Basic Savings Account within 3 months of the opening date, you will need to pay a penalty of RM20. Other than that, for withdrawals at ATM machines other than Maybank, you will be charged RM1 - which is standard for any bank.
Who can apply for this savings account?
Both Malaysians and permanent residents can apply for this account with Maybank. All you really need is an initial deposit of only RM20. Of course, there are documents that you will need to bring along, such as:
- MyKad (IC)/Police or Armed Forces ID Card
- Birth Certificate and MyKid (for trustee accounts)
- Passport for non-Malaysians
Other supporting documents:
- Valid Passport (if IC is used as a Primary document)
- Valid driving license
- Utility bills
- Letter of employment
- Credit card