48 SMART: AmBank AmGenius Savings Account
+Smartan Dad

Wednesday, 16 May 2012

AmBank AmGenius Savings Account

I have been searching high and low for a child saving account with highest interest rate for my child. After doing some comparisons among child saving account of local banks, I found out that Ambank offers the highest interest rate which is equivalent to one month FD rate, 3%. The limitation is that there can only be 1 withdrawal per month.

Main Features

• Free Personal Accident Insurance up to RM50,000.
• Free Coin Box (refer to photo above) for opening account with RM300 & above.
• High interest rate equilvalent to 1-month FD rate according to account balance.
• Only 1 withdrawal per month
• Interest credited into account monthly

Requirements & Eligibility

• Minimum age: 18 years & below
• Minimum opening amount: RM1
• Minimum balance to maintain: RM10

Current Interest Rate

• Up to RM50,000 3.00%
• Above RM50,000 1.00%

The coin box is not that solid, the camel was parted from the coin box after my child used it for less than 3 months.


  1. Online savings account banks are now getting to be popular because of the higher interest rates they can offer viz-a-viz the traditional brick and mortar banks that people have been used to.

    1. Now, e-FD is getting popular here, which you can do a fixed deposit online for 1 month period.



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