What is the RHB Tayseer Savings Account-i?
This RHB account is a Syariah compliant salary deposit plan, to help you save more and earn as you go. It is an account you can open for work to keep track of your salary and earn benefits on their monthly deposits. Tayseer is an Arabic term that translates to ‘making it easy’ or to simplify the banks role in your savings plan.
Operating on the Islamic concept of Wadiah, you agree to all the money to be held by the bank and in return the bank may return the favour to you, the customer, by giving you ‘hibah’ or a gift.
Who is eligible for this account?
Any Malaysian citizen or Permanent Resident of Malaysia can open this account with RHB whenever you please. Only individual accounts can be opened, and there are no minimum deposit requirements, simply because it is opened with the intention of being a salary crediting account.
You will need to have a minimum monthly income of RM3,000 which will meet the minimum balance requirement of this account. Any individual that meet these requirements, at the 18 or above are welcome to create their account.
Will I be entitled to any share of profit?
All deposits received by the Bank will be invested in alignment with Syariah principles and Hibah will be distributed at Bank's discretion.
How can I access my account?
You will receive an ATM Card for ease of access to your account via ATM machines. Also take note that with this account you will not be getting a passbook.
Anything else I need to take note of?
Be reminded that you need to maintain at least RM20 in your account at any one time or penalty charges will apply.
Also, stay active by performing transactions using your account because inactive account with zero transactions in 12 months will be charge RM10! In the even if you need to replace your passbook, you will need to incur RM10 plus stamp duty so take good care of your passbook