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Features & Benefits

Deposit Duration Options
Predetermined Profit Rate
Highest Profit Rate
Monthly Profit Payments
Option to Pledge
Automatic Renewal

Eligibility

Applicable for all business enterprises and corporations

Requirements

Minimum deposit placement of RM10,000 for a short tenure of 1, 2, or 3 months, with deposit increments in multiples of RM1,000.

Documents Required

Partnerships

  1. Original Identity Cards of Partners
  2. Original Business Reg. Form A or B + D
  3. Bank’s Partnership Mandate Form
  4. Photocopies of Identity Cards of all Partners & Business Reg. Forms

 

Limited Companies (Sdn Bhd)

Certified copy of the following by Company Secretary:

  1. Resolution from Board of Directors to open account & list of authorised signatories
  2. Form 24 - Return of Allotment of Shares
  3. Form 49 - Particulars of Directors
  4. Memorandum & Articles of Association - Certificate of Incorporation
  5. Certificate of Authority (for Public Ltd. Co. only)
  6. Obtain photocopies of Identity Cards of all authorised signatories

 

Executors & Administrators

  1. Grant of Probate (Executors)/Letter of Administration (Administrators)
  2. Identification documents of Executors & Administrators

 

Representative Office Account

Certified copy of:

  1. Resolution from the Rep. Office’s Head Office to set up office and open account
  2. Letter from Rep. Office’s Head Office bankers (overseas) certifying resolution & existence of Head Office
  3. Letter of approval from the relevant local authority to set up office in Malaysia
  4. Obtain photocopies of Identity Cards/Passports of all authorised signatories

 

Clubs/Associations/Societies, Mosques and Other Religious Bodies

Certified copy of:

  1. Resolution of Committee Members authorising opening of account & list of authorised signatories
  2. Authority letter for Clubs/Societies
  3. Rules & Regulations of Clubs/Associations including by-laws
  4. Photocopies of Identity Cards of all authorised signatories

 

Private Schools/Colleges

Certified copy of:

  1. Resolution of Board of Directors to open account and list of authorised signatories - Form 24 - Return of Allotment of Shares
  2. Form 49 - Particulars of Directors
  3. Memorandum & Articles of Association

 

Government Schools

  1. Request letter to open account issued by the State Education Department
  2. Certified copy of Board of Governors’ resolution to open account & list of authorised signatories
  3. Obtain photocopies of Identity Cards of all authorised signatories

 

Joint Venture Account

Certified copy of:

  1. Resolutions from all JV partners to open account & list of authorised signatories
  2. Joint venture agreement
  3. Memorandum & Articles of Association of all JV partners (local or foreign)
  4. Form 24 - Return of Allotment of Shares
  5. Form 49 - Particulars of Directors
  6. For foreign companies, a letter from the foreign company’s bankers certifying the resolution, memorandum & existence of company
  7. Photocopies of Identity Cards/Passports of all authorised signatories

Rates

Effective 13 July 2020

Tenure (Month)

Board Rate (% p.a.)

12 – 14 months

1.85%

15 – 17 months

1.85%

18 – 20 months

1.85%

21 – 23 months

1.85%

24 – 35 months

1.85%

36 – 47 months

1.90%

48 – 59 months

2.00%

60 months

2.10%

Protected by PIDM up to RM250,000 for each depositor. To view PIDM's brochure, click here.

Terms and Conditions

Key Downloads

Additional Features

You can choose to withdraw a minimum of RM1,000 and in multiples of RM1,000 under the same account number. You must maintain a minimum of RM1,000 in your account, except if your FRIA-i placement is for one month.

 

You can withdraw your investment before maturity through a rebate or Ibra' clause, whereby you agree to give a rebate on your profit in exchange for getting the Murabahah Sale Price early, but the amount withdrawn will be subjected to the following conditions:

 

1. For FRIA-i placement/renewal from 1 November 2018 onwards:

 

  • For full and partial withdrawal of FRIA-i of any tenure before the completion of its tenure, no profit will be paid for the withdrawn amount. For partial withdrawal, upon completion of the tenure, profit based on the contracted rate will be paid for the amount that is not withdrawn.

 

2. For FRIA-i placements/renewals prior to 1 November 2018:

 

  • For FRIA-i of 1 month, 2 months or 3 months tenure that is fully or partially withdrawn before the completion of its tenure, no profit will be paid for the withdrawn amount. For partial withdrawal, profit on the contracted rate will be paid for the amount that is not withdrawn;
  • For FRIA-i of 4 months and above that is fully or partially withdrawn after the completion of 3 months, profit of half of the contracted rate for each completed month of the withdrawn amount will be paid on the withdrawn amount. For partial withdrawal, profit on the contracted rate will be paid for the amount that is not withdrawn.
     

During your FRIA-i placement, you can choose to credit your profit into your own deposit account or add it into your principal amount. 

 

You can give us instructions on renewal or rollover at any time before maturity. If you do not give us any renewal or rollover instructions, our system will automatically renew your FRIA-i. You will also have a grace period of fourteen days to rollover for a different period.