Elevate Your Banking: KAF Digital Bank's Tiered Savings Accounts

At KAF Digital Bank (KAF DB), we offer tiered savings accounts designed to grow with your financial journey. Whether you're starting with the Basic Plus Savings Account-i or unlocking enhanced features with the Premium Savings Account-i, our system provides convenience, security, and the right level of access for your needs.

Tier Levels: Overview and Requirements

We offer two main tiers, each with distinct features and requirements:

Details Required for Account Opening

Basic Plus Savings Account-i (Default Tier)

To open a Basic Plus Savings Account-i, you will need to provide the following essential profile and financial information:

• Profile Details: Full name, NRIC / Passport number, Date of Birth, Nationality.
• Contact Details: Email address and Contact Number.
• Address: Residential / Mailing Address.
• Financial Profile: Monthly income level, Occupation, Nature of occupation, Occupation industry, Name of employer, Purpose of opening an account, and Source of funds.

Premium Savings Account-i (Tier Upgrade)

To successfully upgrade to the Premium Savings Account-i, you must provide and upload one of the following supporting documents to verify your occupation/income details:

• Latest 3 months bank statement (showing income deposit)
• OR
• ONE of the following latest documents:
  • Latest 1-month Payslip
  • Latest EA form (employment income summary)
  • Latest commission statements
  • Latest EPF detailed statements

Comparing Your Account Tiers

The tiers are primarily distinguished by their transaction limits, allowing the Premium tier to support higher financial activity.

Please refer to the steps below to uptier your account:

Debit (Outgoing Funds) Limit Calculation

The daily and monthly limits apply to the total value of spending, transactions, and transfers, which include, but are not limited to:

• Intrabank transfers (KAF DB to KAF DB)
• DuitNow ID and Interbank transfers
• DuitNow QR (peer-to-peer and merchant)
• Online and overseas transactions (VISA Card / Card-Not-Present)
• POS terminal / physical card transactions (VISA Card / Card-Present)

The Upgrade Process: From Basic to Premium

Upgrading to the Premium Savings Account-i is voluntary and initiated by you through the KAF DB app.

Simple Upgrade Steps in the KAF DB App:

Step 1: Launch the KAF DB app and land on the main dashboard
Step 2: Under the 'More' tab, click on 'My Tier'
Step 3: Click 'Upgrade Now' on the Premium tab
Step 4: Submit the required documents to uptier

Successful applications are upgraded to the respective tiers. Unsuccessful applications will remain in their current tier.

Important Note on Data Management:

Once your account is successfully upgraded to Premium, certain supporting documents provided during the process become non-editable in your profile for security and compliance reasons. This includes your payslips, remuneration statements (EA form), commission statements, EPF statements, and latest bank statements.

Premium Access: Unlock Enhanced Banking

Upgrading to the Premium Savings Account-i is the fastest way to expand your financial capabilities and enjoy a higher level of digital banking sophistication.

Here is a summary of the key benefits you unlock:

Ready to elevate your banking experience? Upgrade today through the KAF DB app and step into the higher limits and greater financial flexibility of the Premium Savings Account-i.