{"id":2442,"date":"2012-11-28T15:14:11","date_gmt":"2012-11-28T07:14:11","guid":{"rendered":"http:\/\/blog.imoney.my\/?p=2442"},"modified":"2015-04-01T12:03:24","modified_gmt":"2015-04-01T04:03:24","slug":"what-you-must-know-before-opening-a-savings-account","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/what-you-must-know-before-opening-a-savings-account","title":{"rendered":"What You Must Know Before Opening A Savings Account"},"content":{"rendered":"<div id=\"attachment_3939\" style=\"width: 410px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-3939\" class=\" wp-image-3939\" alt=\"shutterstock_31443457\" src=\"\/articles\/wp-content\/uploads\/2012\/11\/shutterstock_31443457.jpg\" width=\"400\" height=\"266\" srcset=\"\/articles\/wp-content\/uploads\/2012\/11\/shutterstock_31443457.jpg 400w, \/articles\/wp-content\/uploads\/2012\/11\/shutterstock_31443457-300x199.jpg 300w, \/articles\/wp-content\/uploads\/2012\/11\/shutterstock_31443457-75x50.jpg 75w\" sizes=\"(max-width: 400px) 100vw, 400px\" \/><p id=\"caption-attachment-3939\" class=\"wp-caption-text\">There are many different savings account types, you can find the one that fit your needs accordingly.<\/p><\/div>\n<p>There are various kinds of savings accounts in Malaysia. Depending on your day-to-day usage, some may be more suitable for you. In any case, the most common transactions performed with a savings account are illustrated below:<\/p>\n<p><a href=\"\/articles\/wp-content\/uploads\/2012\/11\/Common-Uses-of-Savings-Account-in-Malaysia.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-2443\" title=\"Common Uses of Savings Account in Malaysia\" alt=\"\" src=\"\/articles\/wp-content\/uploads\/2012\/11\/Common-Uses-of-Savings-Account-in-Malaysia.png\" width=\"463\" height=\"414\" srcset=\"\/articles\/wp-content\/uploads\/2012\/11\/Common-Uses-of-Savings-Account-in-Malaysia.png 463w, \/articles\/wp-content\/uploads\/2012\/11\/Common-Uses-of-Savings-Account-in-Malaysia-300x268.png 300w\" sizes=\"(max-width: 463px) 100vw, 463px\" \/><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"What-You-Should-Check-Before-Opening-A-Savings-Account\"><\/span>What You Should Check Before Opening A Savings Account<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li>Find out the <strong>minimum amount needed<\/strong>. Make sure you make a note of the minimum deposit required for you to open and the minimum amount you must have in your account at all time.<\/li>\n<li><strong>Learn about the interest rate<\/strong> that you will earn. Some savings accounts offer different interest rates depending on your account balance.<\/li>\n<li>Ask if there are any <strong>additional fees<\/strong> for any kind of situation e.g. any account closure fees (in case you plan to close your account in the future) or online transaction fees.<\/li>\n<li>Explore the different <strong>types of savings accounts<\/strong> offered such as savings accounts for children or senior citizens.<\/li>\n<li>Learn about the <strong>online facilities<\/strong> the bank has to offer.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"The-Application-Process\"><\/span>The Application Process<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The process of opening a new savings account is pretty much similar across banks. Here\u2019s a chart detailing the steps involved:<\/p>\n<p><a href=\"\/articles\/wp-content\/uploads\/2012\/11\/Steps-to-Apply-for-a-Savings-Account-in-Malaysia.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-2444\" title=\"Steps to Apply for a Savings Account in Malaysia\" alt=\"\" src=\"\/articles\/wp-content\/uploads\/2012\/11\/Steps-to-Apply-for-a-Savings-Account-in-Malaysia.png\" width=\"537\" height=\"578\" srcset=\"\/articles\/wp-content\/uploads\/2012\/11\/Steps-to-Apply-for-a-Savings-Account-in-Malaysia.png 537w, \/articles\/wp-content\/uploads\/2012\/11\/Steps-to-Apply-for-a-Savings-Account-in-Malaysia-278x300.png 278w\" sizes=\"(max-width: 537px) 100vw, 537px\" \/><\/a><\/p>\n<p>Once you successfully opened your savings account, a friendly reminder to keep your PIN and account statements as safe as possible. Be sure to never write your PIN on anywhere obvious. Also, make sure you inform your bank if you do lose your ATM card, or find suspicious\/incorrect transactions in your account statements.<\/p>\n<p>&nbsp;<\/p>\n<p>To find a perfect savings account, see iMoney&#8217;s <a href=\"\/savings-account\">savings account comparison table<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There are various kinds of savings accounts in Malaysia. Depending on your day-to-day usage, some may be more suitable for you. In any case, the most common transactions performed with a savings account are illustrated below: What You Should Check Before Opening A Savings Account Find out the minimum amount needed. Make sure you make&#8230; <a class=\"view-article\" href=\"https:\/\/www.imoney.my\/articles\/what-you-must-know-before-opening-a-savings-account\">View Article<\/a><\/p>\n","protected":false},"author":1,"featured_media":2794,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[29],"tags":[],"class_list":["post-2442","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-savings-account"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What You Must Know Before Opening A Savings Account<\/title>\n<meta name=\"description\" content=\"In this post, iMoney highlights some of the things you must know when you open a savings account with a bank, as well as the application process involved.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.imoney.my\/articles\/what-you-must-know-before-opening-a-savings-account\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What You Must Know Before Opening A Savings Account\" \/>\n<meta property=\"og:description\" content=\"In this post, iMoney highlights some of the things you must know when you open a savings account with a bank, as well as the application process involved.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.imoney.my\/articles\/what-you-must-know-before-opening-a-savings-account\" \/>\n<meta property=\"og:site_name\" content=\"iMoney Malaysia\" \/>\n<meta property=\"article:published_time\" content=\"2012-11-28T07:14:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2015-04-01T04:03:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2012\/11\/what-you-must-know-before-opening-a-savings-account.png\" \/>\n\t<meta property=\"og:image:width\" content=\"296\" \/>\n\t<meta property=\"og:image:height\" content=\"297\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"iMoney Editorial\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"iMoney Editorial\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.imoney.my\/articles\/what-you-must-know-before-opening-a-savings-account\",\"url\":\"https:\/\/www.imoney.my\/articles\/what-you-must-know-before-opening-a-savings-account\",\"name\":\"What You Must Know Before Opening A Savings Account\",\"isPartOf\":{\"@id\":\"https:\/\/www.imoney.my\/articles\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.imoney.my\/articles\/what-you-must-know-before-opening-a-savings-account#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.imoney.my\/articles\/what-you-must-know-before-opening-a-savings-account#primaryimage\"},\"thumbnailUrl\":\"\/articles\/wp-content\/uploads\/2012\/11\/what-you-must-know-before-opening-a-savings-account.png\",\"datePublished\":\"2012-11-28T07:14:11+00:00\",\"dateModified\":\"2015-04-01T04:03:24+00:00\",\"author\":{\"@id\":\"https:\/\/www.imoney.my\/articles\/#\/schema\/person\/2dc429bac9840e75ad08ab242c57dcbb\"},\"description\":\"In this post, iMoney highlights some of the things you must know when you open a savings account with a bank, as well as the application process involved.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.imoney.my\/articles\/what-you-must-know-before-opening-a-savings-account#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.imoney.my\/articles\/what-you-must-know-before-opening-a-savings-account\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.imoney.my\/articles\/what-you-must-know-before-opening-a-savings-account#primaryimage\",\"url\":\"\/articles\/wp-content\/uploads\/2012\/11\/what-you-must-know-before-opening-a-savings-account.png\",\"contentUrl\":\"\/articles\/wp-content\/uploads\/2012\/11\/what-you-must-know-before-opening-a-savings-account.png\",\"width\":\"296\",\"height\":\"297\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.imoney.my\/articles\/what-you-must-know-before-opening-a-savings-account#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.imoney.my\/articles\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Savings Account\",\"item\":\"https:\/\/www.imoney.my\/articles\/category\/savings-account\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"What You Must Know Before Opening A Savings Account\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.imoney.my\/articles\/#website\",\"url\":\"https:\/\/www.imoney.my\/articles\/\",\"name\":\"iMoney Malaysia\",\"description\":\"Everything you need to know about improving your personal finances.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.imoney.my\/articles\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.imoney.my\/articles\/#\/schema\/person\/2dc429bac9840e75ad08ab242c57dcbb\",\"name\":\"iMoney Editorial\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.imoney.my\/articles\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/4268d61be86ba47b656e314b503a5c2f?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/4268d61be86ba47b656e314b503a5c2f?s=96&d=mm&r=g\",\"caption\":\"iMoney Editorial\"},\"description\":\"iMoney Editorial Team is composed of 4 writers with wide-ranging interests and areas of expertise. Their primary responsibility is to write financial-related articles to share and educate Malaysians on how to save, make and grow their money.\",\"sameAs\":[\"http:\/\/www.imoney.my\"],\"url\":\"https:\/\/www.imoney.my\/articles\/author\/chinglee\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"What You Must Know Before Opening A Savings Account","description":"In this post, iMoney highlights some of the things you must know when you open a savings account with a bank, as well as the application process involved.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.imoney.my\/articles\/what-you-must-know-before-opening-a-savings-account","og_locale":"en_US","og_type":"article","og_title":"What You Must Know Before Opening A Savings Account","og_description":"In this post, iMoney highlights some of the things you must know when you open a savings account with a bank, as well as the application process involved.","og_url":"https:\/\/www.imoney.my\/articles\/what-you-must-know-before-opening-a-savings-account","og_site_name":"iMoney Malaysia","article_published_time":"2012-11-28T07:14:11+00:00","article_modified_time":"2015-04-01T04:03:24+00:00","og_image":[{"width":296,"height":297,"url":"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2012\/11\/what-you-must-know-before-opening-a-savings-account.png","type":"image\/png"}],"author":"iMoney Editorial","twitter_card":"summary_large_image","twitter_misc":{"Written by":"iMoney Editorial","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.imoney.my\/articles\/what-you-must-know-before-opening-a-savings-account","url":"https:\/\/www.imoney.my\/articles\/what-you-must-know-before-opening-a-savings-account","name":"What You Must Know Before Opening A Savings Account","isPartOf":{"@id":"https:\/\/www.imoney.my\/articles\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.imoney.my\/articles\/what-you-must-know-before-opening-a-savings-account#primaryimage"},"image":{"@id":"https:\/\/www.imoney.my\/articles\/what-you-must-know-before-opening-a-savings-account#primaryimage"},"thumbnailUrl":"\/articles\/wp-content\/uploads\/2012\/11\/what-you-must-know-before-opening-a-savings-account.png","datePublished":"2012-11-28T07:14:11+00:00","dateModified":"2015-04-01T04:03:24+00:00","author":{"@id":"https:\/\/www.imoney.my\/articles\/#\/schema\/person\/2dc429bac9840e75ad08ab242c57dcbb"},"description":"In this post, iMoney highlights some of the things you must know when you open a savings account with a bank, as well as the application process involved.","breadcrumb":{"@id":"https:\/\/www.imoney.my\/articles\/what-you-must-know-before-opening-a-savings-account#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.imoney.my\/articles\/what-you-must-know-before-opening-a-savings-account"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.imoney.my\/articles\/what-you-must-know-before-opening-a-savings-account#primaryimage","url":"\/articles\/wp-content\/uploads\/2012\/11\/what-you-must-know-before-opening-a-savings-account.png","contentUrl":"\/articles\/wp-content\/uploads\/2012\/11\/what-you-must-know-before-opening-a-savings-account.png","width":"296","height":"297"},{"@type":"BreadcrumbList","@id":"https:\/\/www.imoney.my\/articles\/what-you-must-know-before-opening-a-savings-account#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.imoney.my\/articles\/"},{"@type":"ListItem","position":2,"name":"Savings Account","item":"https:\/\/www.imoney.my\/articles\/category\/savings-account"},{"@type":"ListItem","position":3,"name":"What You Must Know Before Opening A Savings Account"}]},{"@type":"WebSite","@id":"https:\/\/www.imoney.my\/articles\/#website","url":"https:\/\/www.imoney.my\/articles\/","name":"iMoney Malaysia","description":"Everything you need to know about improving your personal finances.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.imoney.my\/articles\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.imoney.my\/articles\/#\/schema\/person\/2dc429bac9840e75ad08ab242c57dcbb","name":"iMoney Editorial","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.imoney.my\/articles\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/4268d61be86ba47b656e314b503a5c2f?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/4268d61be86ba47b656e314b503a5c2f?s=96&d=mm&r=g","caption":"iMoney Editorial"},"description":"iMoney Editorial Team is composed of 4 writers with wide-ranging interests and areas of expertise. Their primary responsibility is to write financial-related articles to share and educate Malaysians on how to save, make and grow their money.","sameAs":["http:\/\/www.imoney.my"],"url":"https:\/\/www.imoney.my\/articles\/author\/chinglee"}]}},"_links":{"self":[{"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/posts\/2442"}],"collection":[{"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/comments?post=2442"}],"version-history":[{"count":8,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/posts\/2442\/revisions"}],"predecessor-version":[{"id":14958,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/posts\/2442\/revisions\/14958"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/media\/2794"}],"wp:attachment":[{"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/media?parent=2442"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/categories?post=2442"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/tags?post=2442"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}