Public Bank 50 Plus Savings Account

Getting ready for retirement? Keep your cash in the Public Bank 50 Plus Savings Account and enjoy attractive interest earnings, for seniors aged 50 and above.

Public Bank 50 Plus Savings AccountBe financially ready for retirement
Interest Rate
0.1% to 1.2% p.a.
Min. Deposit
RM2,000
Phone Banking
Available
Account Statement
Available

Interest Rate

What you earn based on the amount that you have in your account

Min. AmountMax. AmountInterest Rate
RM10,000RM10,0000.1% p.a.
RM10,001RM50,0000.4% p.a.
RM50,001RM100,0000.7% p.a.
RM100,001No maximum1.2% p.a.

Features

What would make it different?

Online Banking
PBeBank
Mobile App
PIDM Protected
Up to RM250,000
ATM Card
Available

Fees & Charges

MEPS Withdrawal Fee
RM1
Overseas Withdrawal Fee
RM12
Early Closure Fee
RM20
Inactive Account Fee
RM10

Requirements

Minimum Age
  • 50 years old
Minimum Initial Deposit
RM2,000
Minimum Balance
RM20

More Information

What is the 50 PLUS Savings Account?

Saving money should not only be a practice for the young but a practice for everyone. If you are able to save, why not reap the benefits of this habit. The 50 PLUS account, is a savings account presented by Public Bank, for the use of its customers, new and old, over the age of 50.

So if you are 50 years old and over, this is the savings account for you, available to be opened as both an individual or joint account.

What are the perks?

Since this is high interest savings account, Public Bank intends for you to make the most of your savings. Therefore, you will only begin earning interest on your savings, if they exceed a total of RM10,000, as an average balance. From there, you will earn an interest of 0.10% up to 1.20% p.a. depending on your account balance.

You can both manage your account online or with a passbook, the choice is up to you. That being said, should you choose to walk into a Public Bank Branch to manage your account, then you will have access to the priority lane for senior citizens, ‘Special Care Counters’, to help cut your waiting time in half.

What do I need, to open the account?

As mentioned, you can open both an individual or joint account as per your preference. You will simply need to bring with you, your NRIC and that of your partners for a joint account. To start, you will need to make a minimum deposit of RM2,000.

To keep your account open and functioning, you will need to maintain a balance of at least RM20 so that the account doesn’t freeze.

Will I need an introducer?

No you will not. Fortunately, anyone can register to open this account. You will not need anyone to introduce you to the bank. You will also have full access and coverage for the money stored in your account.

Where will my interest earned go?

Any interest earned on this account, is calculated daily and will be credited monthly into your account. The interest amount will be credited on the month end day, whenever that may be.