Hi,

Current Account is also known as a checking account, comes with chequebook facility. Usually you need to maintain a certain balance in the current account if not will charge you account maintenance fee. If you write a lot of cheques, you should get a current account.

Savings Account is a basic account with no chequebook. Most savings account have no maintenance fee. If you plan on using as a secondary account or to save aside, you should get a savings account.

I am offering PowerPay Savings Account (Interest from 2.0-2.5% p.a.) and Saadiq Saver-i Current Account (Interest from 1.3-1.9%p.a.), if you open either the above 2 accounts from me, no minimum deposit, no ATM cum Mastercard Debit card charges, no ATM cum Mastercard Debit card annual charges. Free unlimited transactions within Standard Chartered, within House networks (RM1 per transaction) and Meps networks (RM4 per transaction), Internet Banking Transactions (RM0.50 per transaction). We are offering one of the highest interest for savings account and current account.

This post has been edited by muddie: Apr 28 2011, 06:03 PM

Hi,

You cannot get PowerPay Savings Account through the branch, this account is only through Employee Banking Progam.

Yes the difference between savings account and current account is current account have chequebook facility, overdraft facility and monthly maintenance fee. Dividend? U mean the interest rate? Usually savings account give higher interest than current account.

However just received updated news, Employee Banking will not be offering PowerPay effective 3rd May. We are launching a new product:

SuperSalary Current Account
Interest up to 2.0% p.a. No introducer, no minimum deposit, no account maintenance fee, no ATM cum Mastercard Debit card annual charges. Comes with chequebook facility, phone banking, internet banking (all internet transactions RM0.50 unlimited).

This is the first current account with no monthly account maintenance fee (no need to maintain minimum balance) and cheapest internet banking.