Bank Rakyat

Bank Rakyat Term Deposit Account-i

Bank Rakyat Deposit Account-i is a low risk fixed term investment that helps you expand your savings in the Islamic way

    • RM500 minimum deposit
    • Islamic
  • You DepositDeposit PeriodEffective Profit Rate
    more than RM50001 month3.25% p.a.
    more than RM5002 months3.3% p.a.
    more than RM5003 to 5 months3.4% p.a.
    more than RM5006 to 8 months3.55% p.a.
    more than RM5009 to 11 months3.6% p.a.
    more than RM50012 months3.85% p.a.
    more than RM50015 months3.9% p.a.
    more than RM50018 months3.95% p.a.
    more than RM50024 months4% p.a.
    more than RM50036 months4.1% p.a.
    more than RM50048 months4.15% p.a.
    more than RM50060 months4.2% p.a.

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Fees & Charges

There are always fees but how much are they?

Lost of Fixed Deposit certificate

    Requirements

    Are you eligible for this Bank Rakyat Term Deposit Account-i?

    Minimum age
    18 years old
    Open To
    • Associations
    • Clubs and Societies
    • Companies
    • Cooperatives
    • Government
    • Malaysians
    • Foreigners

    Frequently Asked Questions about Bank Rakyat Term Deposit Account-i

    Things you might want to know

    What do I need to know about Bank Rakyat Term Deposit-i?

    Bank Rakyat Deposit-i is a Shariah compliant fixed deposit account that pays you high rate of returns on your placement. 

    This fixed deposit account is open to anyone aged 18 years old and above, Malaysian and non-Malaysian alike. Non-individual depositors and cooperative can also use this savings product to invest funds.

    How do I open Bank Rakyat Term Deposit-i?

    You can open a fixed deposit account via online or over-the-counter at Bank Rakyat branches. All you need to prepare is an initial deposit, identity card and some supporting documents.

    The minimum initial deposit amount for individual account is RM5,000 for 1 month. For fixed deposit placement of 2 to 60 months, your initial deposit is RM500, and there is no maximum amount you can deposit.

    The best part is, there is no processing fee when you open this fixed deposit account. You only need to pay a Stamp Duty of RM10 for the Certificate.

    Can I withdraw the money before maturity date?

    Yes, and you can only make a full withdrawal of your fixed deposit. Effective from January 2019, when you make premature withdrawal of your fixed deposit, you will no longer receive profit payment, not even a partial amount. 

    Therefore, it is advisable to keep your money in that account until maturity.

    Can I renew my fixed deposit after completing a tenure?

    Yes you can. In fact, your fixed deposit account is already subject to an automatic renewal upon maturity. The profit rate upon automatic renewal will follow the bank's prevailing profit rate.

    How can I receive Takaful coverage?

    To enjoy Takaful coverage for free, you need to deposit a minimum of RM10,000 into your fixed deposit account for a minimum tenure of 12 months. Other than that, just make sure that fixed deposit remains active. 

    This coverage offers a one-off compensation worth RM10,000 in the event of death and permanent disability for customer aged between 18 to 65 years only.

    Does PIDM covers this fixed deposit account?

    No, however, as Bank Rakyat is a Cooperative Bank, all depositors will be protected by Malaysian Government under Ministry of Finance instead.

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