Affin Islamic Murabahah Deposit-i is a Shariah compliant fixed deposit based on Wakalah principles with underlying Commodity Murabahah. Your deposit money will be used by the Islamic bank for investment allowed under Islamic laws.
What do I get from Affin Islamic Commodity Murabahah Deposit-i?
Affin Islamic will provide you a fixed return on investment at maturity. You can select any tenure you would like to park your money, which range from 1 day up to 365 days.
The minimum amount you can place in this Islamic fixed deposit account is RM100,000, with profit rate is fixed upfront when you place your deposit.
Can I make an early withdrawal of my money?
Effective from January 2019, when you make a new FD placement or renew your current FD, you will no longer receive profit payment when you withdraw the money before reaching maturity date.
How to renew my fixed deposit?
You can renew your fixed deposit when it has matured, provided that the Islamic bank receives any verbal or written instruction from you. Your profit will be redeposited together with the principal for the same tenure, unless you want to change it.
Otherwise, Affin Islamic Bank will credit the principal plus profit back to your account.