With Maybank’s Yippie/-i Savings Account, starting a financial roadmap for your children has never been easier.
Quick and convenient, Maybank’s Yippie/-i Savings Account allows you to kickstart savings for your child in under 10 minutes* via the MAE app
HOW many times have you thought about opening a savings account for your child only to postpone it due to your hectic schedule?
Maybank – Malaysia’s leading bank, is making it super convenient for busy, modern-day parents to instil in their children the habit of saving money from an early age with the Maybank Yippie/-i Savings Account.
This PIDM protected account enables parents to initiate savings for their children – from newborns to children below the age of 18, for just RM 1.
The big bonus? Parents who are existing Maybank Current/-i or Savings/-i account holders can effortlessly set up an account for their children without stepping into a bank, in just under 10 minutes* via Maybank’s MAE app.
More than just savings
The Yippie/-i Account is designed to instil the value of saving from a young age by offering account holders enticing benefits. Of its many rewarding aspects are its interest rates – this children savings account has attractive interest rates.
With the interest rates offered, every penny saved grows substantially over time, promoting the habit of saving and financial responsibility from a tender age.
The motivation for saving with a Yippie account also extends beyond its great interest rates – The Yippie/-i Account’s Academic Cash Reward programme offers monetary rewards to students who excel academically.
SPM achievers who score a minimum of 8As or A+, are entitled to a cash prize of RM200 per account holder, while STPM or A-Levels students who achieve a minimum of 5As or 4As along with a MUET Grade 6, will be rewarded with RM300 per account holder.
Similarly, university graduates who have opened the Yippie/-i Account before the age of 18, and secure a 1st Class Honours degree, will receive a cash award of RM500 per account holder.
Saving for a rainy day
Saving isn’t merely about having extra cash for fantastic family getaways, investments, avoiding debt or pursuing your dreams. For many, saving is also about cushioning the blow when something unexpected happens.
With the Yippie/-i Account both parents and children are entitled to Free Personal Accident (PA) coverage of up to RM100,000, while an additional RM1,000 is allocated to cover medical expenses, and in the case of unfortunate events, funeral expenses.
Managing consistency
The Yippie/-i Account comes equipped with the Junior feature in the MAE app, designed to encourage consistent saving habits for children. This feature offers tools tailored to manage and monitor accounts that parents set up for their children for more convenience.
With just a few clicks, parents can view all linked Yippie/-i Accounts under their M2U ID, top up their child’s accounts, set up a recurring savings plan for their children, view any transactions or download statements, as well as personalise the dashboard by creating a nickname for the account.
Applying for the Yippie/-i Account is quick and easy. Just launch the MAE app, and follow the steps.
Maybank customers who have set up a Yippie/-i Account for their children, can easily check their children's accounts in the MAE app’s Junior section by following the steps above.
Small contributions, big futures
The struggle is real for busy modern-day parents who understand just how crucial it is to start a savings account for their children.
Starting a savings account for your children opens doors to meaningful conversations about financial matters, while instilling in them a sense of independence and ownership.
For existing Maybank customers, the process of opening a Yippie/-i Account for their child is now quick, seamless, convenient and fuss-free. All parents need is a child’s original birth certificate and less than 10 minutes*!
Non-Maybank customers need only to apply for a savings account via the MAE app, before applying for the Yippie/-i Account.
It’s perfectly normal for parents to constantly worry about the financial future of their growing children, but this early start lays a foundation for understanding the concepts of spending and saving, paving the way for financial literacy and responsibility in the future.
*Only applicable for existing Malaysian Maybank customers with a Current/-i or Savings/-i account holders with Malaysian child.
Apply via the MAE app now! Find out more here.
