Affin Islamic fixed deposits are investment tools offered by Affin Islamic Bank Berhad in compliance with the Shariah concept. You can enjoy a great profit as you get fixed profit rates for these products.
The money you deposit in these accounts will be invested in Shariah-based activities for a period, where you will get the profit derived from those investments. Additionally, your funds under Affin Islamic Fixed Deposits are protected by Malaysia Deposit Insurance Corporation (PIDM).
Affin Islamic Fixed Deposit Interest Rates 2018 (Updated on 25 Apr 2018)
|Affin Islamic Term Deposit-i|
|AITD-i Profit Rate At Maturity||AITD-i Profit Rate (Monthly)||AITD-i Profit Rate (Upfront)|
|Tenure (Months)||Counter (% p.a.)||Interbank (% p.a.)||Tenure (Months)||Counter (% p.a.)||Interbank (% p.a.)||Tenure (Months)||Counter (% p.a.)|
|1 month||3.25% p.a.||3.25% p.a.||12 months||4.05% p.a.||4.05% p.a.||1 month||3.16% p.a.|
|2 months||3.25% p.a.||3.25% p.a.||13-60 months||Negotiable||Negotiable||3 months||3.21% p.a.|
|3 months||3.30% p.a.||3.30% p.a.||-||-||-||6 months||3.30% p.a.|
|4 months||3.30% p.a.||3.30% p.a.||-||-||-||9 months||3.39% p.a.|
|5 months||3.30% p.a.||3.30% p.a.||-||-||-||12 months||3.58% p.a.|
|6 months||3.40% p.a.||3.40% p.a.||-||-||-||-||-|
|7 months||3.40% p.a.||3.40% p.a.||-||-||-||-||-|
|8 months||3.40% p.a.||3.40% p.a.||-||-||-||-||-|
|9 months||3.50% p.a.||3.50% p.a.||-||-||-||-||-|
|10 months||3.50% p.a.||3.50% p.a.||-||-||-||-||-|
|11 months||3.50% p.a.||3.50% p.a.||-||-||-||-||-|
|12 months||4.05% p.a.||4.05% p.a.||-||-||-||-||-|
|Commodity Murabahah Deposit-i Profit Rates|
|Tenure||Profit Rates (% p.a.)|
|1 Week||2.80% p.a.|
|2 Weeks||2.85% p.a.|
|3 Weeks||2.90% p.a.|
|1 Month||3.00% p.a.|
|3 Months||3.05% p.a.|
|6 Months||3.15% p.a.|
|9 Months||3.20% p.a.|
|12 Months||3.30% p.a.|
Types of Affin Islamic Fixed Deposit Accounts
Affin Islamic Bank offers 3 different types of fixed deposits. They are:
- Affin Islamic Term Deposit-i (AITD-i): This is the basic fixed deposit account offer by Affin Islamic bank for your long-term investments. The tenure for this fixed deposit ranges from 1 to 60 months.
- Affin Islamic Term Deposit Plus-i: This fixed deposit account is for your short-term investments. The tenure on this fixed deposit ranges from 1 to 12 months.
- Commodity Murabahah Deposit-i (CMD-i): This fixed deposit is offered for tenures ranging from overnight up to 12 months. Premature withdrawal is allowed on this fixed deposit.
Affin Islamic Fixed Deposit Accounts Features and Benefits:
- You get to enjoy a fixed return on your investment under Affin Islamic Fixed Deposits.
- You can deposit a low minimum account to open a fixed deposit.
- You can choose a flexible tenure as per your convenience to open a fixed deposit.
- You can enjoy upfront profit, monthly profit or at maturity profit depending on the type of fixed deposit you open.
- You can withdraw your funds placed in the fixed deposit before the maturity date if required.
- You need not pay any additional fees for early or premature withdrawal.
- You get automatic renewal upon maturity of your fixed deposit where you can reinvest your principal amount and your profit.
- You do not need to pay any brokerage fee to open a fixed deposit.
- You need to sign the agency letter only once when you first open a fixed deposit account.
Affin Islamic Fixed Deposit Eligibility Criteria
- Affin Islamic Term Deposit-i:
- Minimum RM500 for 2 months and above.
- Affin Islamic Term Deposit Plus-i:
- Minimum RM10,000 for 1, 3, 6, 9 and/or 12 months.
- Commodity Murabahah Deposit-i:
- Minimum RM100,000 for tenures starting from overnight placement up to 12 months.
Affin Islamic Fixed Deposit Fees & Charges
|Affin Islamic Term Deposit-i||Fees and Charges|
|Reprint/Replacement for lost Advice||RM5.30 for 2nd copy onwards|
How to Open an Affin Islamic Fixed Deposit Account?
You need to visit the nearest Affin Islamic branch to open a fixed deposit account. You need to carry the relevant documentation required by the bank to open a fixed deposit account.
Affin Islamic Bank Contact Number for Fixed Deposit
You can call the bank at 03-5522 3000 for more information on the required documentation and the process for this fixed deposit.
Affin Islamic Fixed Deposit FAQs
Q. What is the amount that I can invest in Affin Islamic Term Deposit-i?
A. If you are opting for profit at maturity scheme, you need to invest a minimum of RM5,000 for a tenure of 1 month. For a tenure of 2 months and above, you need to invest a minimum of RM500. If you want to go for upfront or monthly profit, then you need to invest in a minimum of RM10,000.
Q. What do I get from Affin Islamic Term Deposit-i?
A. The profit rates for Affin Islamic Term Deposit-i mentioned in the table above would be fixed when you open a term deposit account with the bank. If you have opted for upfront profit, then it is payable to you for a tenure of 1, 3, 6, 9 and 12 months.
If you have opted for monthly profit, then it is payable to you for a tenure of 12-15, 18, 24, 36, 48 or 60 months. If you have opted for profit at maturity, it is payable to you either for a tenure of 1-60 months, or every 6 months after the first 12 months until maturity.
Q. Do I need to open a bank account with Affin Islamic Bank to be eligible for this fixed deposit?
A. If you opt for profit at maturity, there is no need for you to open a bank account with Affin Bank as the profit will be credited to the bank account you prefer at time of maturity. If you have opted for either upfront or monthly profit, then you are recommended to open and maintain a Savings Account (CASA-i) or Islamic Current Account with Affin Bank in order to facilitate the easy credit of profit.
Q. Can I top-up the fixed deposit amount during the tenure period?
A. No. You are not allowed to top-up the fixed deposit amount after placement. If you do want to deposit more funds, you can open up a new fixed deposit account where a new advice would be issued to you from Affin Islamic Bank for the new fixed deposit.
Q. Can I withdraw my fixed deposit amount prematurely or partially?
A. Affin Islamic Bank does not allow partial withdrawal, but it does allow premature withdrawal. If you withdraw your fixed deposit within the first 3 months of opening an account, then you will not get any profit. If you withdraw your fixed deposit after the first 3 months of opening an account, then you will get only 50% of the total profit calculated based on the number of months you have already completed.
Q. What do I need to do if I want to renew my fixed deposit?
A. Upon maturity, your fixed deposit would get automatically unless you state otherwise. If you opted for profit at maturity, then your principal amount and the profit you gained will be automatically renewed for the same tenure. If you opted for monthly or upfront profit, then only the principal amount will be automatically renewed for the same tenure.
Q. Will I receive a new advice for renewal?
A. Yes. If your fixed deposit is automatically renewed, you would receive a new Advice.
Q. What if I want to change the terms of fixed deposit renewal?
A. If you do not wish to renew automatically or if you want to make any changes, you need to provide a written notice with instructions to the bank upon maturity of your term deposit.
Q. Whom should I contact if I require further information or assistance with this product?
A. If you require further information, you can visit the nearest Affin Islamic Bank or visit the bank website. You can call on the contact number mentioned above or email your enquiry to [email protected]
Other Products offered by Affin Islamic Bank:
Apart from offering Fixed Deposit,Affin Islamic Bank offers other products and services which include: