What is this Saadiq Basic Savings Account?
This is a regular savings account offered by Standard Chartered Saadiq Bank for anyone and everyone who wants a basic account with no frills attached and no heavy requirements to keep the account going. In layman terms, it is an account for everyone.
With this account, you will get an ATM/Debit card for all your banking needs and if you are new to the world of banking and finances, this can be your kick off account for all your income and spending needs.
What are the requirements to open the account?
Firstly, you will be at least 18 years or older if you wish to open this account as an individual. Secondly, the account is only open to Malaysian Citizens and you will need to have your NRIC with you for the application. The minimum deposit is RM20 to open the account and you can save as much money as you like in the account, as there is no maximum limit.
On that note, parents can open an account on behalf of your children as a means to begin their money savings education. This way they can covert the account to a regular individual account at the age of 18.
The account comes with a ATM/Debit card that you can use for all your physical transactions and to deposit and withdraw money from your account via ATM.
Can I manage the account online?
Yes, you can. Register your savings account online with Standard Chartered Online Banking for the freedom to move your money as you see fit. It will also make tracking your transactions easy, both physical and online.
You can also opt for an e-Statement rather than a hard copy for better access whenever you need on all your devices.