Young Savers Account

An account to get your children saving early

Initial deposit

RM
500

RM1 for students under the
National School Adoption Programme



Minimum monthly balance

RM
1


Eligibility

  • Age 17 and below
  • For children age 11 and below, trust accounts can be opened with at least 1 parent / guardian
  • For children age between 12 and 17, joint accounts can be opened with a parent / guardian
  • Malaysians, Malaysia PRs and foreigners
How to apply

Interest is calculated daily and credited half-yearly on 30 June and 31 December.

Get 5% bonus interest if no withdrawals are made during the calendar year (starting from 31 December).

Amount in account:


Up to RM50,000

Above RM50,000

Young Savers

2.65% a year

0.30% a year

Get rewarded for doing well in public examinations.

To qualify, the account must be opened more than 1 year preceding the announcement of the public examination results. Your results must be submitted within 2 weeks from the announcement date.

  • UPSR 5As and above - RM50
  • PMR 7As and above - RM100
  • SPM 8As and above - RM150

Online & mobile banking

Track your money

View all your OCBC Bank accounts, download previous and current statements, and much more with OCBC Bank Online Banking.

Easy payments & transfers

Pay bills and transfer funds to accounts within OCBC Bank, or to other banks' accounts via MEPS interbank GIRO.

Access over 10,000 ATMs nationwide

Wide network

OCBC ATM cards are accepted at all MEPS ATMs. Withdrawals are free at any OCBC (In Singapore and Malaysia) or OCBC NISP ATM (In Indonesia).

Global access

Make withdrawals at over 600 OCBC ATMs in Singapore and at Visa PLUS ATMs anywhere in the world.

Monthly statements

Manage funds easily with regular statements that provide a list of all Young Savers Account transactions within the relevant statement periods.

 

Apply at one of our branches

Please bring along:
1
RM
500

for initial deposit

2
Identity card /
Passport
or
Birth
Certificate

and parent’s identity card / legal guardian certificate
(for trust accounts)


Find nearest branch to apply
Locate
 

Important Notices

This deposit is an eligible deposit insured by Malaysian Deposit insurance Corporation (PIDM). PIDM insures eligible deposits for up to RM250,000 per depositor per bank. The RM250,000 limit includes both the principal amount of a deposit and the interest / return. Islamic and conventional deposits are eligible for a separate coverate limit of RM250,000 each.

  • 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 the PIDM information brochures that are available at our counters or to to the website at www.pidm.gov.my.