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 month3.5% p.a.
    more than RM5002 months3.55% p.a.
    more than RM5003 months3.65% p.a.
    more than RM5004 months3.7% p.a.
    more than RM5005 months3.75% p.a.
    more than RM5006 months3.8% p.a.
    more than RM5007 months3.8% p.a.
    more than RM5008 to 9 months3.85% p.a.
    more than RM50010 months3.9% p.a.
    more than RM50011 months3.95% p.a.
    more than RM50012 months4.1% p.a.
    more than RM50015 months4.15% p.a.
    more than RM50018 months4.2% p.a.
    more than RM50024 months4.25% p.a.
    more than RM50036 months4.35% p.a.
    more than RM50048 months4.45% p.a.
    more than RM50060 months4.6% p.a.

Apply online now for Bank Rakyat Term Deposit Account-i

RinggitPlus will help you every step of the way.

By typing your contact information, you agree to our Terms of Use. We respect your privacy and are committed to handle your personal information safely and responsibly.

You've almost completed your application for Bank Rakyat Term Deposit Account-i

To help you better we need to know a little bit more about your application.
Confirm your application

Oops. We can't seem to get a quote for you for a while there. Please click "Get Quote" again.

Your qualifications have not met the requirements of this policy. Don’t worry, you can still check other insurance policies

Please fill in all fields and enter a valid email

Thank you for applying with RinggitPlus!

We’ve sent you an email to help with your application.

Continue to Bank Rakyat website

If you have any questions let us know at [email protected], we'd love to help!

Follow us to keep in touch and not miss out on offers and promotions.

View product disclosure sheet.

Fees & Charges

There are always fees but how much are they?

Lost of Fixed Deposit certificate
  • RM10.00 Service Charge

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

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.

Read More