Close
EN
BM

Personal

Business

Account

Savings Account-i

Unlock financial peace and security with our Savings Account. Start saving today and build a brighter tomorrow.

Account

Savings Account-i

Unlock financial peace and security with our Savings Account. Start saving today and build a brighter tomorrow.

Highlights & Benefits

Debit Card-i on application

Debit Card-i

on application

i-Muamalat Mobile Apps Full access to i-Muamalat Mobile apps

i-Muamalat Mobile Apps

Full access to i-Muamalat Mobile apps

i-Muamalat Internet Banking Full access to i-Muamalat Internet Banking.

i-Muamalat Internet Banking

Full access to i-Muamalat Internet Banking.

*The Ceiling Profit Rate (CPR) is 4%

Savings Account-i

Unlock financial peace and security with our Savings Account. Start saving today and build a brighter tomorrow.

Minimum initial deposit is RM20.00

 

Rates

  • Savings Account (Tawarruq)
  • All balances at 0.05% p.a.

 

This product is protected by Perbadanan Insurans Deposit Malaysia (PIDM).
* Protected by PIDM up to RM250,000 for each depositor

Features & Eligibility

Passbook not applicable for online account

Passbook

not applicable for online account

Minimum deposit RM20.00

Minimum deposit RM20.00

Minimum balance in account RM10.00

Minimum balance in account RM10.00

Existing customers are now able to open a new account via i-Muamalat no joint account allowed

Existing customers are now able to open a new account via i-Muamalat

no joint account allowed

Eligibility  Individual/Joint account holders; Malaysians and permanent residents reside in Malaysia; All individuals above 18 years old.

Eligibility

  • Individual/Joint account holders;
  • Malaysians and permanent residents reside in Malaysia;
  • All individuals above 18 years old.
How To Apply Please contact our customer care line at 03 2600 5500 or visit our nearest branches.

How To Apply

Please contact our customer care line at 03 2600 5500 or visit our nearest branches.

FAQs about Bank Muamalat's Saving Account-i

Savings Account-i is an Islamic savings account offered by Bank Muamalat that complies with Shariah principles. It provides a secure place to save money while adhering to Islamic finance guidelines.

Opening Bank Muamalat’s Savings Account-i is usually straightforward. Your application will be processed within 3 working days after submission. Activation time depends on the completeness of your documents and the verification process.

Islamic savings accounts in Malaysia, including Savings Account-i, operate under these concepts:

  • Tawarruq: This refers to a structure where the bank buys and sells commodities to provide liquidity. 
  • Wakalah: The bank acts as an agent (Wakil) appointed by the customer to handle transactions related to the savings account, including buying commodities on behalf of the customer.
  • Wa’d: The bank gives a commitment to purchase commodities from the customer at an agreed-upon price.
  • Ibra’: This is a concession granted by the customer to the bank, which may apply in cases like early withdrawal, account termination, or differences between the ceiling and effective profit rates.
  • Hamish Jiddiyah: A security deposit that the bank places to secure the undertaking of asset purchases before the trade is finalized.

Bank Muamalat’s Savings Account-i may have minimal fees or charges depending on the specific transaction. For a detailed breakdown of applicable fees, please refer to our fees & charges page or contact our customer service team.

Bank Muamalat’s Savings Account-i is typically offered in the local currency (Malaysian Ringgit). If you need to deposit foreign currency, please contact our bank representatives to learn about the available options and services for foreign currency deposits.

The profit on Shariah-compliant savings accounts like Bank Muamalat’s Savings Account-i is credited to your account on a monthly basis, according to the terms of the account’s Shariah concept.

You might also be interested in

Basic Savings Account-i (BSA)
Basic Current Account-i (BCA)
Current Account-i
Savings Account BeeSTAR-i
Chat with us on
WhatsApp
AUSTRALIAN DOLLARAUD3.0220002.8490002.833000
BRUNEI DOLLARBND3.4480003.2400003.229000
CANADIAN DOLLARCAD3.2330003.1090003.092000
SWISS FRANCCHF5.1640004.9270004.909000
EURO EUR4.9120004.6270004.605000
STERLING POUNDGBP5.8670005.5930005.584000
NEW ZEALAND DOLLARNZD2.7880002.5810002.566000
SINGAPORE DOLLARSGD3.4480003.2400003.239000
UNITED STATES DOLLARUSD4.5330004.2780004.261000

2024-11-08 09:17:42