What do I need to know about this account?
The UOB Basic Savings account is a regular old savings account with no frills attached. You get to save your money and spend it with an awesome debit card that gets you cashback!
What are the benefits?
Well the account will earn you interest depending on the amount of your balance, so save and earn from 0.25% to 0.3% p.a. whatever your bank balance is.
Another thing you will get is as mentioned a debit card, specifically the UOB Debit MasterCard. With Pin&Pay functions as well as payPass. With the card, you also get access to various UOB promotions all year round and the UOB Smart$ Cash Rebate Program.
Earn cash back and cash in on some great deals while living interest free when you pay with a debit rather than credit card. Your card will also be accepted worldwide, so you can take it with you on all your travel adventures.
What about my transaction limits?
Register your account and card online and have a daily transaction limit of RM50,000 online. This online limit is adjustable to a maximum of RM250,000 per day. As for your daily ATM limit, its auto set for RM5,000 but you can always increase that limit online as well.
What are the requirements for this account?
The first thing is age, this account is flexible and is open to anyone over the age of 12. So parents can open an account for their kids as well as one for themselves. You will need to be either a Malaysian citizen or Malaysian Permanent Resident to qualify for the account.
Remember to bring along your NRIC or Passports for the application along with a document in your name and bears your address. Refer to the list below for an example;
- Utility bill
- Quit Rent Assessment
- Bank Statement
- Employer Confirmation Letter
You will need to only have one of those things on you for the application. Parents who are getting this account for your child, it is advisable for you to have a copy of their birth certificate with you,
The minimum deposit to open the account is only RM20.