Maybank Islamic Berhad offers a Shariah-compliant fixed deposit account that offers interest rates up to 3.60% p.a. The Maybank Islamic Fixed Deposit-i (FD-i) works based on Commodity Murabahah principle. You can choose a deposit tenure as per your convenience based on which the interest rate is determined.
Maybank Islamic Fixed Deposit-i Profit Rates 2019
The interest rates offered by Maybank Islamic FD-i are given below:
|Deposit Tenure (months)||Profit Rate (% p.a.)|
Note: The rates are effective from 29 January 2018.
Benefits of Maybank Islamic Fixed Deposit-i Scheme
The features and benefits of the FD-i are:
- An FD-i account offers higher profit rates as compared to a Savings Account-i.
- The bank offers flexible deposit tenure between 1 month and 60 months.
- For a deposit tenure up to 12 months, the profit will be paid on maturity.
- For a deposit tenure longer than 12 months, the profit may be paid on a monthly or a half-yearly basis; or on maturity.
- The FD-i can be utilised as a collateral to borrow finances.
- You can get a personal accident takaful coverage with the FD-i that also covers medical and funeral expenses.
- You cannot make a partial withdrawal from your FD-i account.
You shall be eligible to open an FD-i with Maybank if you fulfill the following criteria:
- Malaysian citizens
Types of Applicant:
- Joint account holders up to 4 people
- Business enterprises
- Associations, clubs, societies or organisations
- Age for Individuals: 18 years or above
- Malaysians: A copy of MyKad/NRIC
- Valid Passport
- Employment pass/Work permit
Fees and Charges
The fees and charges applicable are:
- If your FD-i certificate is lost or stolen, you may have to pay a stamping fee of RM15 for indemnity letter.
How to Open a Maybank Islamic Fixed Deposit-i
You have two modes to open an FD-i account with Maybank:
- You can visit the nearest branch of Maybank Islamic Bank to submit the duly filled application form.
- You can also visit the Maybank2u website to open the FD-i account.
The contact numbers for Maybank Islamic Bank are:
Q. What is the minimum deposit amount?
A. On a one month tenure, the minimum deposit amount is RM5,000. For a tenure of two months or more, the minimum deposit amount is RM1,000.
Q. Should I pay a processing fee?
A. No. You don’t have to pay a processing fee.
Q. Can I make a premature withdrawal of the deposit?
A. Though it is advised not to withdraw the deposit amount before maturity, you can make a premature withdrawal. However, you need to consider the following:
- If you withdraw before the completion of 3 months from the date of deposit, you will not receive the profit.
- If you withdraw the deposit after the completion of 3 months from the date of deposit but before maturity, you can get only 50% of the designated profit.
Q. Is the FD-i account covered by PIDM?
A. Yes. The FD-i account is covered by PIDM. So, you do not have to worry about the sum you have deposited. In any case, you will receive the deposit amount along with the profit on maturity.
Q. What is the coverage offered by the takaful plan?
A. The FD-i offers a takaful plan that provides personal accident coverage up to RM10,000 with a coverage of RM1,000 each for medical expenses and funeral expenses.