Fixed Term Account-i
This is a term deposit account based on the Shariah concept of Tawarruq / Commodity Murabahah (i.e. purchase of an asset on a deferred basis either through musawamah or murabahah and subsequently sells the asset to a third party on cash basis). The profit rates from the accounts, which are pre-determined upfront, offers higher returns compared to the normal Savings Accounts or Current Account. FTA-i placement ranges from 1 (one) month to a maximum of 60 (sixty) months., offering the following profit rates:
* Eligible for protection by PIDM
Profit Rates: Fixed Term Account-i
| TENURE | PROFIT RATE (p.a.) |
|---|---|
| 1 MONTH | 3.05 |
| 3 MONTHS | 3.10 |
| 6 MONTHS | 3.20 |
| 9 MONTHS | 3.20 |
| 12 MONTHS | 3.30 |
| 15 MONTHS | 3.30 |
| 18 MONTHS | 3.30 |
| 21 MONTHS | 3.35 |
| 24 MONTHS | 3.35 |
| 36 MONTHS | 3.65 |
| 48 MONTHS | 3.75 |
| 60 MONTHS | 3.75 |
| TENURE | PROFIT RATE (p.a.) |
|---|---|
| 1 MONTH | 3.05 |
| 2 MONTHS | 3.05 |
| 3 MONTHS | 3.10 |
| 4 MONTHS | 3.10 |
| 5 MONTHS | 3.15 |
| 6 MONTHS | 3.20 |
| 7 MONTHS | 3.23 |
| 8 MONTHS | 3.25 |
| 9 MONTHS | 3.30 |
| 10 MONTHS | 3.30 |
| 11 MONTHS | 3.35 |
| 12 MONTHS | 3.35 |
| 18 MONTHS | 3.40 |
| 24 MONTHS | 3.45 |
| 36 MONTHS | 3.55 |
| 48 MONTHS | 3.65 |
| 60 MONTHS | 3.95 |
Features and Benefits
| CUSTOMER | TENURE | RM |
|---|---|---|
| Retail & Corporate | 1 Month | 5,000 |
| 2 Months and above | 1,000 | |
| Corporate Wholesale | 1 day – 1 year | 100,000 |
Tenure:
| CUSTOMER | TENURE |
|---|---|
| Retail | 1 to 60 months (in multiple of one (1) month) |
| Corporate | 1 to 12 months (in multiple of 1 month), 18, 24, 36, 48 and 60 months. |
| Corporate Wholesale | Overnight to 1 year (in multiple of 1 day) |
- Profit rate is fixed and determined upfront upon placement
- Capital is guaranteed
- Flexible tenure and profit payment options such as monthly, quarterly, semi-annually, annually or upon maturity
- Choice of renewing the principle plus profit
- Can be pledged as security for other facilities
- Insured by PIDM up till RM250,000 (Two Hundred Fifty Thousand Ringgit Only)
- Brokerage Fee is absorbed by the Bank
- Underlying asset applied is Crude Palm Oil or other commodity as approved by Shariah
- Premature withdrawal is allowed*. No profit will be paid to the customer in the event of early or premature withdrawal for both Fixed Term Account-i (FTA-i) and Short Term Account-i (STA-i).
Eligilibity
- Individual 18 years and above. Trust account for children below 18 years old (minors). Account must be opened and operated by their parent or legal guardian
- Foreign individuals employed /studying in Malaysia
- Corporate, government, SMEs, associations, clubs, societies, etc
Downloads
Product Disclosure Sheet (Fixed Term Account-i)
Terms & Conditions (Fixed Term Account-i)
Product Disclosure Sheet (e-Fixed Term Account-i)
Terms & Conditions (e-Fixed Term Account-i)
*Terms and conditions apply.