What is the Public Bank Basic Savings Account?
The Public Bank Basic Savings Account as its name suggest, is a simple account that offers you all basic services at minimal costs.
Who is eligible to open a Public Bank Basic Savings Account?
Are you a Malaysian citizen or a permanent resident? If yes, you can open an account.
How much do I need to deposit to open this account?
All you need is RM20 then you are good to go.
How much interest will I earn?
Interest rates vary according to the amount of deposits in your account. You need to deposit a minimum of RM30,000 to start earning interest on your deposits. The highest possible interest rate will be given if you have deposits of more than RM100,000 in your account.
What are the features and services provided?
First and foremost you will be equipped with a savings passbook to be able to access to your account at any Public Bank branch. You can also log on to Public Bank online banking to check you account balances, transfer funds and pay bills.
Furthermore, you will be provided a Bankcard/ATM card to access your account via ATM machines and the good news is, you don't have to pay annual fee for the ATM card!
That's great! Any other fee and charges I need to watch out for?
You are eligible to 6 free over-the-counter visits per month. On your 7th visit onward, you will be charge RM1 per transaction. Similarly, the first 8 ATM cash withdrawal is free, upon which each transaction is charged RM1.
You should also be aware that every interbank transfer made over-the-counter will be charge RM0.50 for the first 2 transaction of the month and subsequently at RM2 Fund transfer via online or mobile banking and ATM will be charge at RM0.10 and RM0.30 respectively.