What is Affin Islamic Commodity Murabahah Deposit-i?
This is a term deposit account from Affin Islamic based on the Syariah principle of Wakalah and Commodity Murabahah. Your deposits will be used by the bank for investment allowed under Islamic laws.
Affin Islamic will provide a fixed return on investment to you at maturity.
What Is the minimum deposit needed to open an account?
You have to come up with at least RM100,000 to be eligible for an Affin Islamic Commodity Murabahah Deposit-i. You can place your funds to earn profit for up to a maximum of one year at attractive rates.
Is early withdrawal allowed?
Yes, if you need the extra cash, you will be allowed to withdraw early. Unfortunately, you might have to forgo a portion of your profit - now, why would you screw yourself over like that!?
As for topping up your deposits into your account , you are not allowed to do so at any point of your placement!
Okay, how about auto renewal?
You will have to inform Affin Islamic if you want an auto renewal for your term deposit. If not, your principal and profit will be credited back to you.