What is CIMB Islamic FRIA-i Maturity Returns?
This CIMB Islamic FRIA-i Monthly Returns is a Syariah compliant deposit investment account going by the principles of Tawarruq and Murabahah with Commodity Murabahah, where you appoint CIMB Islamic as your agent to trade Syariah-compliant commodities for your behalf. The profits earned are share between you and CIMB Islamic according to the pre-agreed profit sharing ratio. The rates are predetermined and fixed and will be stated in your investment certificate.
This account is open to individuals who are aged 18 and above, residents or non-residents. It is open to business enterprises, association, society and clubs as well. You need at least RM1,000 to open this account and you can select from one month up to 60 months. For a one-month investment, the minimum deposit is RM5,000. The Investment Certificate can be used as security for loans-related products with CIMB or CIMB Islamic.
How do I get collect my profits?
With CIMB Islamic FRIA-i Maturity Returns, you can collect your profit as well as your initial investment on maturity date, thus the. If you place more than 12 months tenure, you can choose to collect every six months or on maturity date.
Can I withdraw cash from my fixed deposit?
Yes, partial withdrawals are allowed with a minimum amount of RM1,000 and in multiples of RM1000. However, to do so, you have to complete the first 3 months tenure to avoid getting back zero interest. How much profit can you earn after withdrawal? Good news, your pre-agreed interest rate will still be applicable, depending on your account balance at maturity.
You can withdraw money at your CIMB home branch, so make sure you open this account at your nearest branch for easy withdrawals. If you open this FD account via e- FD via CIMB Clicks, withdrawals will not be allowed.
Can I partial withdraw my fixed deposit?
Partial withdrawal is NOT allowed.
How do I open this FRIA-i Maturity Returns with CIMB Islamic?
For an Individual, you need your Identification Card or passport if you are foreigner, that's all!
For a Sdn Bhd, you must present a certified copy of your company’s Memorandum and Association, Form 24 & 49, and a company’s resolution to open this account as well as photocopies of all authorised signatories’ Identification Card.
For Sole Proprietors or Partnership, you need the business registration form and photocopies of all authorised signatories’ Identification Card.
For associations/societies/clubs, you need certified copy of your organisation’s resolution, authority letter, rules and regulations and copies of identity cards of all authorised signatories
Is this CIMB Islamic FRIA-i Maturity Returns secured?
Yes. It is insured automatically by PIDM for the lost of your investment in case on bank’s failure, up to RM 250000 per person per bank.