What do I need to know about this current account?
This is an Islamic current account without Overdraft Facility exclusively for individuals only. The Alliance Hybrid Account-i is based on the concept of Wadiah Yad Dhamanah, meaning it is a guaranteed safe custody whereby the bank may reward the depositors in the form of hibah (gift).
Your hibah rate will depend on Alliance Islamic Bank's discretion - it could be attractive if you have maintained high minimum average balance every month.
What is good about Alliance Hybrid Account-i?
For your convenience, you will be issued a cheque book for you to perform daily banking transactions. Besides that, you will also get an Islamic debit MasterCard upon opening of this account (for first timer). If you already owned one, just link it to your Islamic current account.
That's not all, you can have free access to Internet banking via allianceonline by registering your details at your nearest Alliance Islamic Bank branch. This way, you can efficiently manage your finances one-shot and save a lot costs compared to doing it manually.
What do I need to apply for this account?
Individuals aged 18 years and above can open this current account. There are two options: with cheque book facility, you need to deposit RM500; whereas without one, only half the amount of the former.
Do I need an introducer to start Alliance Islamic Bank Basic Current Account?
Nope. You do not need an introducer to start a new Alliance Hybrid Account-i with Alliance Islamic Bank.
What are the fees and charges?
There are a few 'sneaky' bank fees that you are required to pay if you're not careful: