Simpanan Wadiáh is savings account designed for individuals aged 15 years and above. Individual Account, Trust Account, Joint Account and Non-Individual Account.
Based on the concept of Wadi’ah Yad Dhamanah - 'Safekeeping with guarantee'
Malaysian citizen and/or Permanent Resident
Types of Account
- Individual Account - Account operated by individuals age fifteen (15) years and above
- Trust Account - This account is open for individual age below fifteen (15) years and subject to the account being operated by a Trustee (Pentadbir Akaun) who is 15 years old and above. The Trustee must be a Malaysian citizen.
- Joint Account - Account managed by a group of individual age fifteen (15) years and above. The group must not exceed five (5) people. Primary account holder must be a Malaysian citizen if open with non-Malaysian citizen.
- Non Individual Account - For Organizations/Associations/Clubs and usually managed by at least 2 individual aged 18 years above.
- Minimum deposit to open an Individual / Trust account is RM10
- Minimum deposit to open Non-Individual / Joint account is RM100
Not less than RM10 at any time