How does the Al Rajhi Wakalah Bi Al-Istithmar Investment Account-i work?
As an Islamic deposit account, all investment activities for Wakalah Bi Al-Istithmar Investment Account-i are based on Syariah-approved principles of finance. Investment tenures are flexible at 1, 3, 6, 9 and 12 months.
Who can apply for this Syariah compliant investment account?
This Syariah compliant investment programme is open not only to individuals but also businesses. This includes SMEs and corporate companies, sole proprietorship or partnerships, government offices, government-linked companies, and statutory bodies.
How much do I need to deposit?
That depends on how long you'd like to invest your money for:
- RM500 for placement starting 3 months and above
- RM1,000 for placement less than 3 months
How does Al Rajhi calculate my profit?
The profit earned on your investment will be calculated on a daily basis.
How much should I invest?
There's no maximum limit on your fixed deposit placement. For fixed deposits with 3-month tenures and above, the minimum deposit is set at RM500. If you’d prefer a short tenure period of 1 month, a minimum placement of RM1000 is required.
For individuals, you need to be at least 18 years of age to start earning profit with the Al Rajhi Wakalah Bi Al-Istithmar Investment Account-i.
Is this Islamic investment secured, like conventional FDs?
Yes, it is. All Al Rajhi fixed deposits are under the protection of Perbadanan Insurans Deposit Malaysia ( PIDM) for deposits which do not exceed RM250,000.