What is Bank Muamalat Savings Account-i Tawarruq about?
Savings Account-i Tawarruq is a simple Islamic savings account that allows you to save money with by earning profits from all your account balances. You need an initial deposit of RM100 to open this Shariah compliant savings account and maintain RM10 account balance at all times.
What are the features of this Shariah savings account?
You will get a FREE debit card-i so that you can enjoy easy access to your cash at ATM machines. You debit card-i also can be used as a payment method, in addition to cash at hand!
Besides, you can also manage your funds via iMuamalat, a convenient internet banking facility where you can to keep track your past banking transactions, future bill payments and many more. Moreover, you can also request for a passbook if you want to go classic.
Am I eligible to open this savings account?
This is an account is available to all Malaysians and permanent residents - you can open either a single or joint account. The minimum initial deposit is RM100.
What are the fees and charges?
The ATM / debit card-i issuance and replacement fees is RM12. The service charge passbook replacement is RM5. If you close the savings account within 3 months of opening, RM10 will be charged.
Is my money protected under PIDM?
Definitely. Your deposit will be eligible for protection by Perbadanan Insurans Deposit Malaysia (PIDM) up to RM250,000. Bank Muamalat also ensures that you principal and profit payments will be paid out accordingly under Tawarruq contract.