Senior Savings Accounts

A savings account is one of the most basic banking products. For senior citizens who have to take on less risk with their funds, there are accounts that are specially targeted at preserving their nest egg.

Table shown below is a number of banks offer such accounts to those senior citizens.




The most higher interest rate offer is from Affin bank with starting rate of 2.8% per annum for minimum deposit of RM 5,000. The rate is almost like most banks' 12-month Fixed Deposit rates of 2.85%.

However, we all know the interest rates offer couldn't beat the market inflation!!  Inflation can REDUCE Purchasing Power with the advancing of time...So, it's better to have a better knowledge on financial planning at younger age to learn not just to know how to preserve your wealth but MAXIMIZE your wealth!

Remember! Small effort to put in if you are start at young age!