Opening a TH child account is effortless and can be done at all TH Branches across the country, Bank Islam counters, Bank Rakyat, Mobile Kaunter and TH Komuniti.
The following criteria for the opening of TH child accounts are :
- Under 12 years of age.
- Caregivers are subject to the Child Protection Act 2001, Guardianship of Infants Act 1961 and Registration for Adoption Act 1952
- Caregivers are a depositor of TH.
- Caregivers must bring the birth certificate and MyKid/ Marriage Certificate (mother/ stepfather).
Conditions to become a TH‘s depositor:
- A Muslim
- Malaysian Citizen
Documents are required to open a TH account :
- Please bring along your myKad to open a TH account.
- To open an account for children, please bring along their MyKid and birth certificates for verification purposes.
Advantages of Saving With TH
- Deposits/ Savings at TH are 100% guaranteed by Government.
- Deposits/ Savings at TH are exempted from tax.
- Deposits/ Savings have been paid for zakat of 2.5%.
- There is no limit of Deposits/ Savings at TH.
- Deposits/ Savings at TH are based on shariah principles.
The guardian is strongly advised to change the status of the account for their children/ dependant who has reached 18 years old and above from a child account to an adult account. The change of the account status can be made at any of TH branches in which the application to change the status has to be made by the parents/ legal guardian.
As long as the account status remains as a child account, the guardian will be solely responsible for the account and its activities even though the child has exceeded 18 years old of age.