What is the Wadiah Savings Account-i about, generally?
This Islamic savings account from Bank Islam is based on a Wadiah contract that offers Hibah profits to the account holders. The Hibah, also know as a token, is given away every month at the bank's descretion.
It is an Islamic savings account which allows for money safekeeping and easy withdrawals anytime.
Any stand-out features for this savings account?
The most interesting feature would definitely be the TAP Mobile Banking-i, which utilises chip that transform your phone's screen into a banking menu. That way, you can save the trouble of remembering keywords or download applications.
This feature allows you to inquire about your balance, carry out fund transfers, top up your prepaid plan, and also bill payments. Besides, you will be issued a Visa Debit Card-i once your account is opened.
To make it easy for you to track your transaction history, you can refer to your passbook or quarterly statement. That's not all, you will also receive SMS notifications whenever you have performed transactions with your debit card and online banking services.
How can I apply for Bank Islam savings account?
To apply, you need to meet the minimum requirements as set out by Bank Islam, such as:
- Must be 13 years old and above (for Individual Account)
- Have an initial minimum deposit of RM100.
You can also open a Joint Account with spouse or family members with this account. For children below 13 years old, you can setup a Trust Account with a parent or legal guardian.
Is my money guaranteed under PIDM?
Absolutely. Your hard-earned savings money will be guaranteed under PIDM for up to RM250,000.