Bank Islam offers promotions on Term Deposit-i Tawarruq (TDT-i). You can enjoy high returns on your deposits. The bank offers you multiple networks, including the bank branch, mobile banking, and internet banking, to open a TDT-i Account. The TDT-i Account is protected by Perbadanan Insurans Deposit Malaysia (PIDM).
Bank Islam Fixed Deposit Promotion
You can get the promotional benefits once you place a minimum amount of RM50,000 in Bank Islam Term Deposit-i Tawarruq (TDT-i) Account for a 3-month tenure. Enjoy profit rates of up to 7% p.a. when the deposit completes 7 cycles, i.e. 24 months. The deposit will automatically rollover for 7 cycles until it completes 24 months.
The table below gives you a brief idea on the profit rates applicable during each rollover period:
|Rollover Count||Profit Rate|
FD Promotion Start & End Date
The promotion is valid until 30 June 2019.
Promotion Terms & Conditions
- Partial withdrawal is not allowed.
- If you make an early termination, you have to pay the Ibra’/rebate on a part of or the whole profit as per the Sale Price mentioned at the time of deposit placement.
- The cash placed in the deposit account cannot be used to pledge as a collateral for any credit facility.
- Upon the completion of the 7th rollover, the account will be automatically renewed for a 3-month tenure.
- The money placed in the TDT-i Account must be in fresh funds.
Depositing money under the promotion can be beneficial only if you can let the funds be for the entire tenure of 24 months. Withdrawing the funds before maturity can reduce the profit you get. You can also check for the other available FD promotions before you invest in one.
Q. Are there any eligibility criteria to get the benefits of the promotion?
A. Yes. The bank specifies the following eligibility requirements:
- Type of customer:
- Individuals—New and Existing.
- Small and Medium Enterprises.
- Age Criterion for Individuals: 18 years and above.
Q. What is the maximum deposit amount I can place?
A. There is no limit on the amount you can place in the TDT-i account as per the policies of the promotion.
Q. Can I place a TDT-i as a joint account holder?
A. Yes. You can place a TDT-i as a joint account holder.
Q. Will the deposit account get automatically renewed for a period of 24 months?
A. No. The deposit account will be automatically renewed for a period of 3 months upon maturity.
Q. What is the effective rate of interest for 24 months?
A. The effective rate of interest for the 24-month period is 4.65%. The bank specifies that the rates are subject to variations.
Q. When does the profit get credited? How do I access it?
A. The profit will be credited after each rollover cycle. It will be credited to your savings, current, or investment account.