What is Standard Chartered's Saadiq Basic Current Account-i?
Standard Chartered Saadiq Basic Current Account-i is a Syariah compliant deposit account that comes with a cheque book to make easy payments. It is no frills and straightforward deposit account, and Hibah or profit earnings may be given at the bank's discretion.
With Standard Chartered, you get convenience with its online banking system where you can view, manage, transfer, and make payment online easily anytime anywhere. A debit card will be issued upon sign-up.
What are the highlights of this checking account?
You can utilise a simple mobile banking application called Breeze Mobile from Standard Chartered that is available for both Android and iOS phones. You will get free monthly eStatement highlighting all your account transactions.
Unfortunately, there will be no overdraft services for this Islamic current account.
How do I apply this Basic Current Account-i from Standard Chartered Saadiq?
You do not need an introducer for this account. You just need to bring your Identification Card and minimum deposit of RM500.
Any fees and charges that I may not know?
The bank will slap you with a RM10 charge every 6 months if your average balance is below RM1,000.
Caution: When making a payment using cheque, if it bounces due to insufficient funds, you will be fined RM150 and might get blacklisted by Bank Negara.