• Ambank FD Promotion

    AmBank and AmBank Islamic offer a promotions on eFixed Deposit (eFD)/eTerm Deposit-i (eTD-i) and the conventional Fixed Deposit. One of the promotions is an affordable savings scheme as the bank specifies a small sum as the minimum deposit amount. The other promotion has a long tenure offering high returns.

    AmBank Fixed Deposit Promotion

    Open an eFD/eTD-i via AmOnline Internet Banking platform and place a minimum amount of RM10,000 for 8 months. Earn a promotional interest rate of 4.28% p.a. The details of the promotion is summarised in the table below.

    Minimum Deposit Amount Deposit Tenure Promotional Rate
    RM10,000 8 months 4.28% p.a.

    AmBank FD Promotion Start & End Date

    The promotional campaign commenced on 1 August 2018 and is valid until 31 August 2018.

    AmBank Fixed Deposit Promo Terms & Conditions

    • Use the code “LAUNCH” when you place the deposit.
    • The promotional rates are applicable for one cycle only i.e., for 8 months.
    • On rollover, normal FD board rates are applicable.

    FAQs

    Q. Are the bank’s staff eligible to get the benefits of the promotions?

    A. Yes. The bank’ staff and their immediate family members are eligible to get the benefits of the promotions. However, staff rate will not be added to the promotion rate.

    Q. How can I access the interest earned on my eFD/eTD-i?

    A. The interest will be credited to your AmBank/AmBank Islamic CASA/CASA-i.

    Q. Can I use the eFD/eTD-i/FD as a collateral for a credit facility?

    A. No. The eFD/eTD-i/FD cannot be used as a collateral for any credit facility.

    Q. Which Shariah principle does the eTD-i account follow?

    A. eTD-i follows the Commodity Murabahah principle via Tawarruq arrangement. Under the arrangement, the bank purchases the commodity on behalf of the account holder at the purchase price of the commodity in the amount deposited with the bank. The bank will then purchase the commodity from the account holder at a selling price that is paid to the account holder upon maturity of the term deposit.

    Q. Can I make an early or a partial withdrawal under Promotion 1?

    A. Withdrawals before the completion of 3 months are not encouraged. Under Promotion 1, if you make an early withdrawal after the completion of 3 months and before the maturity, then:

    • For eTD-i, you have to pay a rebate for early or partial withdrawal.
    • For both eFD and eTD-i, the withdrawal amount must be a multiple of RM1,000.
    • The remaining balance in the eFD/eTD-i account must not be less than the minimum balance of RM1,000.
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