What is Public Islamic Term Deposit-i?
This investment is base on the Islamic principals of Mudharabah, a profit/dividend-sharing concept.
It is open to anyone, individuals who are 18 years old and above.
The tenure can be for period of one-month up to 60 months, with no maximum limit for your deposit amount. You need RM 1,000 for two months or more tenure, and RM5,000 for one-month to sign up.
Profit made from this term deposit account will be distributed between the customer and the Bank at the agreed predetermined ratio.
Can I withdraw the investment account before maturity and can I recover some profit?
Yes, if you withdraw the investment after the completion of at least 1 month, the profit payable shall be 75% of the profit earned. However, you are not allowed to do partial withdrawal.
Who can apply and how do I open this Public Islamic Term Deposit-i?
This investment account is open to everyone. You are required to have a Savings or Current account with Public Bank too. To open a Saving Account, you need a minimum RM20 deposit.
Is this investment covered by deposit insurance?
Yes, it is eligible for protection by PIDM for up to RM250,000 of your total deposits.