Yippie Savings Account
A savings account for children aged below 18 years, offering high interest rates to inculcate savings habit
Minimum deposit:
RM1
* Eligible for protection by PIDM
All interest / dividend rates quoted may change without prior notice. Please contact the nearest Maybank branch for the latest rates
Benefits
- Earn a one-month Fixed Deposit (FD) rate from your savings account, subject to ONE withdrawal per month for six consecutive months i.e from 1 January to 30 June and from 1 July to 31 December.
- Cash rewards for Yippie Club members who excel in their PT3, SPM, STPM and Tertiary level exams (Degree Level Exams).
- Free Personal Accident Insurance coverage of up to RM70,000 for you and your child
Who can apply
- Children below 18 years old, parents and guardians who are below 60 years of age
*Once attained the age of 18 and above, lower interest rate (Kawanku Savings interest rate) will apply.
Multi-tiered Interest Rates
| Savings Band | Interest Rates (% p.a.) |
| Up to RM50,000 | 3.15
|
| Above RM50,000 | 1.30 |
| *With effect from 29 January 2018 |
Note:
- Interest is credited twice (2) a year on 30th June and 31st December respectively.
- If the account is not maintained for the 6 month duration as mentioned, the normal Kawanku Savings interest will apply.
Required documents
For Personal/Joint accounts
- Child: Original birth certificate and MyKid
- Parents / Guardian: Original Identity Card (IC) for Malaysians and
- Passports for foreigners. For passport, other supporting documents that may be required are valid working/student permit, valid visa, letter of confirmation from Employer/Education Institutions (whichever is relevant)
Please choose a branch located near your home or place of work.
Fees & charges*
- Replacement of ATM/bankcard: RM12
- Replacement of lost savings passbook: RM15 incl. stamp duty
- Replacement of savings passbook due to poor handling: RM10
- Early closure of account within 3 months of account opening: RM20
- Cash withdrawals at ATM facilities owned by other banks (MEPS charges): RM1
*The Malaysian Goods & Services Tax (GST) will be imposed on all fees/charges charged by the Bank where applicable effective 1 April 2015 at the current prevailing rate.
View all banking fees
Academic Cash Award
The Cash Award for Academic Excellence is given for excellent grades in PT3,SPM, STPM/A-Levels and Degree Level as follows :
| Examination | Excellent Grades
| Cash award |
| PT3 | 7As
| RM100 per accountholder |
| SPM | *8As / 8A+
| RM200 per accountholder |
STPM/A-Levels
| 5As / 4As and MUET Grade 6 | RM300 per accountholder |
University Degree
| 1st Class Honours
| RM500 per accountholder |
How to qualify
To qualify, you need to meet the following criteria:
Existing account holders
Maintain RM1,000 in the account during the examination year for PT3, SPM, STPM / A-Levels until the date of submission for Cash Award
New account holders
Open and maintain RM1,000 in the account for the examination for PT3, SPM, STPM/A-Levels until the date of submission for Cash Award
1st Class Honours Degree
At the age of 18, the accountholder must maintain RM1,000 in the account
Account must be opened before reaching age 18
Account must be maintained until the date of submission of Cash Award
Claims
The submission for Cash Award claims is to be done at the accountholder's home branch within one (1) month from the official results announcement. The Cash Award can only be claimed once irrespective of the number of savings accounts held by the Yippie accountholder.
Click here for Academic Excellence Cash Award Claim Form