What do I need to know about RHB Junior Savings Account?
Adults pay attention, this is a savings account especially for the kids. It is common sense that children should start to value money and get into the habit of saving (however little) when they are still young and curious. With this savings account, your kids can begin this rewarding savings journey with just RM1 in deposit.
How is RHB going to instill this life-long lesson? Easy, the more you save with the RHB Junior Savings Account, the more interest earnings you will stand to receive. RM1 will turn into RM100 in no time! Besides that, this is a savings account with PIDM protection. Your kids' money will be guaranteed even if the bank goes bust!
Is there free insurance coverage for my child with this savings account?
Yes! With a minimum account balance of RM500, your child will be entitled to enjoy FREE personal accident coverage. Again, to encourage further savings, the more money you deposit, the better your insurance coverage becomes, up to a maximum of RM50,000.
How often can I withdraw cash from this account?
The cash withdrawal for this account is limited to only once a month. Again, the less withdrawals you make, the more interest you accumulate! To further discourage withdrawal, the withdrawal have to be made over-the-counter ( OTC) because there will be no ATM card provided.
Who can open RHB Junior Saver Account?
Children below 18 years old are eligible to open this savings account. If your kids are aged below 12 years old, you can help them out by opening a trust account.