Personal Banking

Savings / Savings-i Account

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Terms & Condition

Savings-i & Deposit-i

The Savings-i Account enables you to deposit your money safely based on the principle of Qard and the money may be withdrawn at any time.

Types of Accounts

There are 3 types of Savings-i Account:

ADULT
Open for all clients aged 12 and above May be opened with or without a savings book May be opened without a deposit

TEENAGER
Open to all teenagers aged 15 to 21 years old

NURI
Open to all children aged 12 years and below Accounts are managed by the parents / legal guardians or the closest family member as a trust holder Opportunity to become a Nuri Club Member Withdrawal is limited to once a month

Product Features

Minimum deposit to open an account is RM20
Kad Rakyat facility (ATM Card)
- Perform withdrawals at Bank Rakyat ATMs or any ATM with MEPS / BANKCARD logo across the country
- Perform money transfers and one-stop bill payments via ATM and counters.
Internet banking facilities i-Rakyat

Requirement to Open an Account

For Citizens
- Individual accounts
- Joint Accounts
- Associations and Clubs (established and registered in Malaysia)
- Mosque / Surau Committee (established and registered in Malaysia)
- Co-operatives (established and registered in Malaysia)
- Companies:
  - Funded by Bank Rakyat
  - Performs contractual work for Bank Rakyat
  - Co-operates with Bank Rakyat such as Amanah Raya Berhad and Syarikat Takaful Malaysia Sdn Bhd
  - Bank Rakyat subsidiaries
For Non-citizens
- Individual Accounts

Required Documents

CITIZEN
For individuals Identity Card If below 18 years old, additional documents required Photocopy of mother / father / legal guardian's identity Birth certificate For associations / organisations / co-operatives / companies Resolutions / decisions / minutes excerpt of Board of Directors / Committee / General / Annual meeting which comprises the following : Authorisation to open a savings account Name, identity card number and position of the authorised signatory Name and identity card number of the representative liaising with the Bank Registration Certificate Identity card photocopy of authorised signatories and representative Specimen card authorised by the authorised signatory and stamped with the association or organisations stamp

CITIZEN

For individuals
- Identity Card
- If below 18 years old, additional documents required
  - Photocopy of mother / father / legal guardian's identity
  - Birth certificate
For associations / organisations / co-operatives / companies
- Resolutions / decisions / minutes excerpt of Board of Directors / Committee / General / Annual meeting which comprises the following :
  - Authorisation to open a savings account
  - Name, identity card number and position of the authorised signatory
  - Name and identity card number of the representative liaising with the Bank
  - Registration Certificate
  - Identity card photocopy of authorised signatories and representative
  - Specimen card authorised by the authorised signatory and stamped with the association or organisations stamp

NON-CITIZEN
For permanent residents Identity card issued by the National Registration Department For those employed: Passport Work Permit Company verification letter (employer) For students: Passport Student pass Matrix Card Higher Education Institute (IPT) verification letter

Representative to Operate Bank Account

Fees & Charges

SERVICE	TRANSACTION		CHARGE
Debit Card	Application fee		RM 8.00*
	Annual card fee		RM 8.00*
	Replacement card	Card loss/theft	RM12.00*
	Replacement card	Card/chip damage	Free
Savings Book	New book due to lost of old book		RM16.00
Savings Book	Book replacement due to damage		RM5.00
Account Statement	For each application		RM10.00
Account Closure	Less than 3 months from the new account opening date		RM10.00

Note: The dormant account with credit balance of less than RM10 will be closed by the Bank and whatever balance will be absorbed as a fee to the Bank.

Lost of Passbook: Clients must fill in the loss of savings book Report Form and the Stamped Loss/Damage Savings Account Testimony Letter. Clients may report on the loss of savings book and account closure at any nearest branch.

Historical Hibah Rates

Savings-i Account/ Nuri Savings-i Account
Amount (RM)	*Hibah Rates (p.a)**
0 - 999	0.00 %
1,000 - 99,999	1.00%
100,000 and above	1.25%

*IMPORTANT/ DISCLAIMER:

THE DISCLOSURE OF HIBAH RATE AS SHOWN ABOVE IS THE PREVIOUS HIBAH RATE PAID BY THE BANK TO DEPOSITORS AND SHALL NOT BE CONSTRUED IN ANY WAY AS AN INDICATIVE OR PROSPECTIVE RATE.

THE BANK IS NOT OBLIGED TO GRANT THE HIBAH TO THE DEPOSITORS AND DECLARATION OF THE HIBAH RATE DISPLAYED IS AT SOLE DISCRETION OF THE BANK.