What is Agrobank BSA-i?
This is Agrobank’s preferred Syariah compliant, Islamic, Basic Savings Account (BSA-i). This account is open to any person who would like to open and Individual, Trust or even Joint account. The Syariah principle applied to this account is Qard. It refers to the contract of lending money by a lender, in this case the ‘Customer’ to a borrower, which in this context will be the ‘Bank’.
This indicates that the Bank is ensuring the customer that then money will be returned to the lender accordingly when the time comes.
Who can apply?
To be eligible for this account, you need to be 12 years or older. Unless you wish to start a trust account for your children, in which case they can be younger than that. Agrobank requires for you to be either a Malaysian citizen or a Permanent Resident of Malaysia to be eligible for this account.
What are the benefits of having this savings account?
First off, you have the access to banking facilities provided by Agrobank such as:
- Any deposits, withdrawal and transactions can be made at any Agrobank counter or ATM.
- Interbank GIRO ( IBG) services,SMS banking, along with convenient bill payments via Standing Instruction.
- Live debt free with the Agro VISA payWave Debit Card - have all the benefits of a credit card without piling on the debt
How to apply for this Account?
For the process of application, you will need to have on you:
To ensure that the account stays open you need to maintain a minimum balance of RM20 at all times.