What are the benefits of Maybank Current Account-i?
Maybank Current Account-i is an Islamic checking account based on the concept of Qard (benevolent loan) whereby the borrower (the bank) is obligated to repay money owed from the lender (the depositor) in full.
Opening a Current Account-i with Maybank is easy: you only need a minimum initial deposit of RM1,000 and an introducer. Once you get the access, you will be issued with a cheque book and are entitled to unlimited cash withdrawal made at the home branch.
That’s not all, the bank will also reward you with Hibah (gift), or profit payment, at its discretion.
Who can apply for this basic current account?
Any individuals aged 18 years old and above can apply for Maybank Current Account-i. For companies, associations and clubs, you need to prepare a minimum initial deposit of RM2,000.
Also, make sure you have all these required documents before making your way to Maybank branch:
- Original MyKad for Malaysians, and Passport for foreigners
- Valid driving license
- Utility bills in the name and address of applicant
- Letter of employment
- Credit card (if any)
What are the fees and charges I should know?
These are few but significant fees and charges you should be aware of:
- Half yearly Service Charge: RM10, if average balance falls below RM1,000
- Early Account Closure: RM20, if closed within 6 months of opening
- Dishonoured Cheque: RM100, due to insufficient funds
- Stop Payment Cheque: RM15, due to insufficient funds (upon presented)
- GST: 6%, where applicable.
Is it safe to keep my money in this current account?
Absolutely. Your saved money will be guaranteed for up to RM250,000 under Perbadanan Insurans Deposit Malaysia.