What is the CIMB Islamic FRIA-i Maturity Returns?
This CIMB Islamic FRIA-i Maturity Returns is a Shariah-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 Shariah-compliant commodities on your behalf.
The profits earned are shared 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, associations, societies 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 to collect my profits?
With CIMB Islamic FRIA-i Maturity Returns, you can collect your profit as well as your initial investment on the maturity date.
If you place more than 12 months of tenure, you can choose to collect every six months or on the maturity date.
Can I withdraw cash from my fixed deposit?
You may withdraw your money partially from this fixed deposit account before it reaches maturity. However, you will not receive a profit payment.
The same goes if you wish to uplift the deposit before the completion of its term.
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 a foreigner, that's all!
For an Sdn Bhd, you must present a certified copy of your company’s Memorandum and Association, Forms 24 and 49, and a company’s resolution to open this account as well as photocopies of all authorised signatories’ Identification Cards.
For Sole Proprietors or Partnerships, you need the business registration form and photocopies of all authorised signatories’ Identification Cards.
For associations/societies/clubs, you need a certified copy of your organisation’s resolution, authority letter, rules and regulations and copies of identity cards of all authorised signatories.
Is the account secured?
Yes. It is insured automatically by PIDM for the loss of your investment in case of bank failure, up to RM250,000 per person per bank.