The Best Savings Account for Senior Citizen in Malaysia

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 NameSeniorSave AccountGolden Savers Savings AccountAffin Gold
Banking InstitutionStandard Chartered Bank Malaysia BerhadMalayan Banking BerhadAffin Bank Berhad
Savings Account TypeSavings Account for senior citizenSavings Account for senior citizenSavings Account for senior citizen
Initial DepositRM5,000N/ARM1,000
Minimum Balance RM10N/AN/A
Interest RatesUp 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 BasisDaily Daily Daily
Payment Half Yearly Monthly Monthly
ATM New Card Issue FreeRM12RM10
Annual ATM Card FeeRM8N/ARM8
Own Bank ATMs WithdrawalsFreeRM8 p.a. or RM0.50 from 5th withdrawal onwardsFree
Other Bank ATMs Withdrawals RM1 within the same shared ATM (HOUSE) networkRM1 MEPS RM1
Fund Transfer via Interbank GIRORM2 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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