Below is a comparison table of savings account that come with the top 3 highest interest rates for senior citizen aged 50 years old and above in Malaysia:
Table 1: Compare Savings Account for Senior
| Savings Account Name | SeniorSave Account | Golden Savers Savings Account | Affin Gold |
|---|---|---|---|
| Banking Institution | Standard Chartered Bank Malaysia Berhad | Malayan Banking Berhad | Affin Bank Berhad |
| Savings Account Type | Savings Account for senior citizen | Savings Account for senior citizen | Savings Account for senior citizen |
| Initial Deposit | RM5,000 | N/A | RM1,000 |
| Minimum Balance | RM10 | N/A | N/A |
| Interest Rates | Up to RM20,000 = 0.60%p.a. Above RM20,000 = 1.80%p.a. | Less than RM1K = 0.00%pa Up to RM10K = 1.20%pa Up to RM25K = 1.45%pa Up to RM50K = 1.55%pa Up to RM100K = 1.85%pa Up to RM250K = 2.10%pa Above RM250K = 2.40%pa | Less than RM5,000 = 1.50%pa RM5,000 - RM99,999.99 = 2.80%pa RM100,000 - RM499,999.99 = 2.85%pa RM500,000 and above = 3.10%pa |
| Calculation Basis | Daily | Daily | Daily |
| Payment | Half Yearly | Monthly | Monthly |
| ATM New Card Issue | Free | RM12 | RM10 |
| Annual ATM Card Fee | RM8 | N/A | RM8 |
| Own Bank ATMs Withdrawals | Free | RM8 p.a. or RM0.50 from 5th withdrawal onwards | Free |
| Other Bank ATMs Withdrawals | RM1 within the same shared ATM (HOUSE) network | RM1 MEPS | RM1 |
| Fund Transfer via Interbank GIRO | RM2 per transaction | RM2 per transaction | RM2 per transaction |
| Closure of Account | RM20, if closed within 3 months of account opening | RM20 (early closure) | RM30 |
| Other Benefits | Free Phone Banking, Debit card - VISA Electron / Debit MasterCard, Free e-statement subscription, Free Online Banking, 50% discount on safe deposit box fee, Free direct debit set up and no transaction fees, Option to purchase Group Medical Insurance | Waiver on FTT charges for amount equivalent to RM5,000 and below. | Free P.A. Coverage for balances RM5,000 and above, 10% discount on General Insurance/Takaful products, Best price for will-writing |
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