For those who looking into putting kids $ into kids account. There is an extra point to consider -- the convenience.

I used to have CIMB Junior acct & RHB Junior (not sure the right name). As I have a habit to bank in once a yr, CNY angpao into RHB and Birthday $ into CIMB.. so is around 11-12mth cycle for once.
RHB so far no problem, as they take "bank-in" as an active transaction. Whereas CIMB suddenly make my account dormant and claim that only take out $ is consider active.. bank-in even within 12-mth still end up dormant. So in the end, I cancelled CIMB and open at MBB.

Not sure bout interest rate, but pretty obvious can see tat RHB $ growing quite fast, as I bank-in roughly same amt to both bank every yr.

Besides that, the objectives of having kids account is to keep/save $. So I was truly annoyed with CIMB told me that even for kids acct, we are expected to take $ out to keep it active. But tat was many yrs ago, not sure if they have change the policy.

This post has been edited by cc980024: Feb 22 2016, 02:36 PM

Ya I also have the problem with uob on the dormant issue. Every yr also kena shit man.

So rhb no problem so far? I think I will open rhb for kids

I am using WISE from PBB for child saving, a little more additional interest if no withdrawal is made.

I opened a RHB junior saving account for my daughter, so far so good.

Here is the interest rate @ 3.17% p.a
http://www.rhbgroup.com/products-and-servi...s-Account-rates

Ya, RHB so far so good and the interest rate quite competitive too. Their front desk assured me that as long as there is bank-in within 12months, the acct won't end up dormant. And is easier to manage that way.

Can Internet bank in right? No need always go counter. Then have Internet banking facilities or not for the account?

junior saving a/c will give u passbook. no IB account

I can view the account thru my e-banking account but never try any transaction. Anyway, if you want to transfer $ into the kids account online, it should be ok. But kids account is design to encourage savings instead of withdrawal, hence don't think they make it as flexi as normal savings account for you to do the usual internet banking facilities.

i invest for gold for my kids .. got the money from angpow translate to gold ..

few banks offering gold paper .. uob.maybank and pbb..

Gold not prospect not good. Price haven't change much in few yrs.

Hey guys I want ask if u open 1 is rhb junior or rhb easy? Is it same?

whats the procedure to open junior account ?

1. parents IC
2. kids IC & born cert

do the physical kids have to be present ?

Kid no need present.

Try not to invest in commodities.

How?

Commodities are like gold and silver, for a much more stable and profitable investment, invest in equities.

So i should go gold?

No, you should be balance by investing in equities and commodities.

Equity means I need to buy wat?

Investment from insurance companies, at least 3 year waiting period to see growth