Bank Muamalat Malaysia Berhad » Fixed Term Account-i

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:

* Protected by PIDM up to RM250,000 for each depositor

Profit Rates: Fixed Term Account-i

Retail

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

Corporate

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

Note : Rates may be subject to change without prior notice

Features and Benefits

Placement amount:

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