What should I know about the Alliance Islamic Term Deposit-i?
What everyone should know is that this Alliance Islamic Term Deposit-i account is first and foremost an Islamic fixed deposit account.
You will earn a handsome profit at a rate that both you and the banks have agreed on.
Alliance Islamic will use your deposits to invest in the buying and selling of assets and commodities that are allowed under Islamic law, or more specifically, the Syariah concept of Murabahah Tawarruq.
Can you tell me in more detail the benefits of the FD account?
Absolutely! There are a few important benefits that you should know about:
Your tenure is super flexible - you can stretch it from 1 month to up 60 months! On top of that, auto renewal of your account is allowed so you don't have to worry when it reached the maturity date.
There will be no brokerage free - it is completely waived. Your deposits can be used as a collateral for other banking products and investments.
How much do I need to open the Alliance Islamic Term Deposit-i account?
Not much! For a 1 month placement, all you need is RM5,000. Better still, for a tenure of 2 months and above, you only need RM500 - that's a small portion of your income that you can save!
Can anyone apply for this fixed deposit account?
The be eligible for this FD account, you must be at least 18 years old and above. If you represent a company or organisation, you must be either one of the below:
- Individuals age 18 years and above
- Associations, club and societies
- Sole proprietorships
- SMEs, corporation, business enterprise
- Government bodies and trustee