Page 22 - MAYBANK vs EPF

3.0 PART B : BANKING PRODUCTS AND SERVICES

Deposit Products

a) Saving Accounts

There are many savings accounts under Maybank that can be opened by people for
their savings. These are Basic Saving Accounts, Basic Savings Account-I, Imteen

Account and Kawanku Savings Account. Each of these savings accounts has its own
speciality and features.

First, Basic Savings Account is needed to open at minimum deposit of RM20. With the
minimum deposit, there is no service or maintenance charged to be required if the

customer keeps balance of RM20 in the account. This also can be applied to Basic
Savings Account-i but this is based on Shariah compliance of Qard. Qard means a
contract of lending money by a lender to a borrower where the borrower is obliged to

repay an equivalent amount to the lender. It is because the Shariah compliance
prohibit usury in our transaction, so the lender has the title of ownership as they pay
for the deposit.

Next is Imteen Account. This account can be opened only for teenagers between 12
to 18 years old. The purpose of the account is to provide cash rewards for teenagers

that excel in PT3, SPM, STPM or A-Levels and degree-level examination but on
condition that they must maintain the account balance of RM1,000. Every level has

different amount of rewards that can be claimed.

Another account is Kawanku Savings Account which required customer to spend

minimum deposit of RM50 for those who are just begin their work with the letter of
employment and RM250 to individual, joint and minor accounts.

The advantages of savings account are:
• Access and availability. Account holders can withdraw and deposit their

money at any time via Automated Teller Machine (ATM) or online banking.

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