Tell me about RHB Children Account-i.
RHB Basic Savings Account-i is an Islamic savings account based on the concept of Commodity Murabahah. This savings account rewards you profit rate up on your account balance. Interestingly, this profit is calculated daily and credited to your account every month.
What can I get from this savings account?
There are a host of benefits you can get when you open this savings account, namely free phone banking facility, RHBNow internet banking facility, debit card facility (for children 12 years old and above) and 24-hour customer service among others.
Besides, this savings account provide free Personal Accident Takaful coverage of up to RM50,000 for child below 18 years of age and parent/legal guardian aged 18 to 65 years, when you maintain a minimum balance of RM500.
Who can apply for this savings account?
There are 3 types of accounts you can open under RHB Children Account-i:
- Trust Account: for individuals aged 12 years old and below (opened with parents or legal guardian)
- Minor Account: for individuals aged 12 to 18 years old (with parents or legal guardian's consent)
- Joint Account: for individuals aged 12 to 18 years old (opened with parents or legal guardian)
All you need is an initial deposit of RM20 to open this savings account, and at least RM10 balance to maintain your savings account.
Is my money in this savings account protected under PIDM?
Definitely. Your money saved in RHB Children Account-i is eligible for protection under PIDM for up to RM250,000.