What do I need to know about CIMB Islamic FRIA-i Monthly Returns?
This CIMB Islamic FRIA-i Monthly Returns is a Shariah compliant investment account following the principles of Tawarruq and Murabahah with Commodity Murabahah.
This account is open to individuals who are aged 18 and above, residents or non-residents. It is open to individuals, joint account-holders, business enterprises, associations, societies, or clubs. You need at least RM1,000 to open this account and with a maximum placement of 60 months.
The profit rates are agreed on when signing up for the CIMB Islamic FRIA-i. You get cash payments every month instead of having to wait until the date of maturity. You can also use the Investment Certificate as collateral for loans with CIMB or CIMB Islamic.
How do I get collect my profits?
With FRIA-i Monthly Returns, you can collect your profit on a monthly basis. You will have to open a Savings or Current Account-i first. The bank will transfer your profit every month to this account.
Can I withdraw my fixed deposit before maturity?
You are not allowed to withdraw your money partially from this fixed deposit account. If you wish to uplift the deposit before the completion of its term, you will not receive any profit payment.
How do I open this FRIA-i Monthly Returns with CIMB Islamic?
You'll need to show some documents, that's for sure! Depending on your employment type, you will need the following, on top of a minimum deposit of RM1,000:
- For individuals, you need your Identification Card or passport.
- If opening on behalf of 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 Monthly Returns secured?
Yes. This investment is insured automatically for the lost of your investment in case of the bank’s failure, up to RM250,000 by PIDM.