Shopping for Savings Account

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• Consider your needs. There are a variety of accounts catering for different needs such as a basic banking account or an account with full facilities with no limit for over the counter transactions. The more flexibility and benefits the account gives, the more expensive is the account.

• What is the initial amount to open an account and is there a minimum amount you need to have in your account thereafter?

• What is the interest rate payable and how often is the interest paid to you?

• Are there charges for application or renewal of the ATM facility?

• Are there restrictions on the number of times you use your ATM card?

• Does the bank have a wide network of ATMs?

• Is the location of the bank branch convenient to you? Eg. Near your home or work place?

Source: Bank Negara Malaysia