OCBC young savers account
An account to get your children saving early
A savings account in-trust for your children to help them develop good savings habits.
Earn 2.40% a year on your first RM50,000 and get 5% bonus interest on the interest earned for the year if no withdrawals are made during the calendar year (starting from 31 December).
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Interest is calculated daily and credited half yearly on 30 June and 31 December.
The interest rates for this account are subject to change in tandem with general direction of interest rates.
Track your money
View all your OCBC accounts, download previous and current statements, and much more with OCBC Online Banking.
View all your OCBC accounts, download previous and current statements, and much more with OCBC Online Banking.
Monthly Statements
Manage funds easily with regular statements that provide Young Savers Account transactions within the relevant statement periods.
Manage funds easily with regular statements that provide Young Savers Account transactions within the relevant statement periods.
Eligibility requirements
Minimum age
Age 17 and below
Nationality
Malaysian Citizens, Permanent Residents and Non-residents (subject to the country of origin)
Documents required
Identity card, passport or birth certificate
Additional documents
Trust accounts must be opened with at least 1 parent/legal guardian for children age 17 and below.
Parents' identity card or legal guardian certificate
Deposit requirements
Initial deposit
RM500
Minimum balance to maintain in account
RM1 (Any transactions resulting in the balance falling below minimum balance shall be rejected)
Terms and conditions
Important notices
PIDM disclosure
- Deposit protection is automatic.
- PIDM protects depositors holding deposits with banks.
- There is no charge to depositors for deposit insurance protection.
- Should a bank fail, PIDM will promptly reimburse depositors over their deposits.
For more information, refer to PIDM's DIS Brochures that are available at our counters or go to the website at www.pidm.gov.my.
or visit us at a branch.