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What are the key benefits of JSA?

  • High interest rate at 1.68%, much higher than normal saving rate

  • No cap on the amount that earns interest

  • Personal accident insurance coverage at 2 times the outstanding balance in JSA accounts

  • High insurance limit at up to $100,000

  • Applicable to parents, grandparents, legal guardians and adopters

  • No monthly deposit obligation 

  • Withdrawal at any time (subject to an administrative fee)

 

 

Although, monthly deposit into JSA is not obligated, the bank highly encourages parents to set up a free standing order to deposit money monthly from CIMB saving account. Higher balance earns higher interest and insurance protection.

 

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