Corp News

Maybank Launches Golden Savers Acct for Senior Cit

20 May 2009

3 min read

Maybank has enhanced banking for seniors with its two new savings accounts namely Golden Savers Account and Golden Savers Account-i. Specifically designed to meet the financial needs of people from age 50 and above, retirees or those who plan for early retirement, Golden Savers Accounts offers more free services and discounted rates on products that tend to be of greatest interest to seniors.


While Golden Savers Account is available through conventional banking, Golden Savers Account-i is based on the Shariah principle of Mudharabah (profit sharing) with a minimum deposit of RM1,000.


Senior citizens can look forward to higher returns /dividends of up to 1.70%* as their account balance grows. Under the multi-tiered system, interest/dividend rates will be calculated daily and credited monthly. Accounts can be opened either on a personal or joint basis with a maximum of four accountholders.


"We have noted that senior citizens are very interested in savings products, which offer higher interest / dividend rates, yet allowing them to use their savings on a daily basis. With this in mind, we deem the introduction of the Golden Savers Account and Golden Savers Account-i as a timely move given they allow daily withdrawals, yet offer higher returns /dividend rates compared to normal savings accounts," said Maybank Head of Consumer Banking, Lim Hong Tat.


In conjunction with the launch of the Golden Savers Account, customers are entitled to 2,000 treatspoints for every RM10,000 deposit for the first three months which began on 13 April till 12 July 2009.


The Golden Savers Account can be opened at all Maybank or Maybank Islamic branches nationwide with depositors having to bring along relevant documents, namely valid Mykad/ Identity Card (IC) for Malaysians while non-Malaysians will have to furnish their passports and other documentary evidences required by the authority regarding the purpose of their stay in Malaysia.


In addition to higher interest/ dividend rates, account holders can also enjoy free service charge for foreign telegraphic transfer transaction less than RM5,000.


"The Golden Savers product is eligible to participate in the ongoing 'Save Big and Win Big' deposit campaign which began on 23rd Feb till end 30 June 2009. As at 6 May, the campaign has shown encouraging response. As a celebration for the close of our second half of 2009, all depositors including Golden Savers, will be granted double entries for this campaign. As such depositors will receive double the chances to win attractive prizes," Lim added.


* At the point of release dated 19 May 2009.