Maybank Islamic Fixed Deposit I Ifd I

This campaign under maybank islamic berhad s islamic fixed deposit account ifd i means that customers can place a fixed deposit while at the same time helping financially affected malaysians.

Maybank islamic fixed deposit i ifd i. Discontinuation of certificate issuance for islamic fixed deposit i placement for retail customers. Maybank group through maybank islamic bhd has introduced a social impact deposit a campaign under its islamic fixed deposit account ifd i. An islamic fixed deposit account islamic fd or commonly referred to as islamic fixed deposit i or general investment account i is a financial instrument that offers a fixed profit return upon the maturity of the deposits. It is open to any applicant aged 16 and above.

Apply for maybank singapore dollar islamic term deposit i which protects and grows your assets. In what is stated to be the first of its kind in malaysia maybank group announced today the launch of a campaign called social impact deposit. Well as you might expect this fixed deposit fd account is based on the islamic principle of mudharabah a profit sharing concept with a predetermined profit rate. The maybank group through maybank islamic bhd today introduced malaysia s first ever social impact deposit a campaign under its islamic fixed deposit account ifd i.

Islamic term deposits based on the shariah concept of commodity murabahah cost plus sale where a specific asset as deemed fit by the bank is identified and used as the underlying asset for the sale and purchase transaction between bank and customer. An islamic term deposit with pre determined profit rate. Visit us know more. The initiative allows customers to place a fixed deposit and simultaneously help to extend financial relief to those whose incomes are affected by the covid 19 pandemic.

Rm1 000 for 2 months and above to rm5 000 for 1 month rm500 for in trust and minor for any tenure. Higher profit rates than a normal islamic savings account. Effective 7 december 2019 maybank islamic berhad will no longer be issuing certificates for new placements made over the counter otc by retail individual customers. The key difference conventional and islamic fds is that islamic fixed deposits are shariah compliant.

The underlying asset for the sale and purchase transaction between the bank and the customer is based on a specific shariah compliant commodity as the bank deems fit. What do i need to know about maybank islamic fixed deposit i.