Murabahah Deposit Account Mda I Maybank Rate

Singapore maybank singapore announces a payout of 1 per annum hibah rate for existing ar rihla regular savings account i ar rihla rsa i holders.

Murabahah deposit account mda i maybank rate. Attractive profit rate than ordinary current and savings accounts low initial deposit amount. Murabahah sale price principal amount profit p principal amount t number of. Fixed deposits interbank deposits structured deposits current account savings account. Interest rate p a 3 20.

From 1 month to 60 months. The interest rate on savings accounts in malaysia is negligible mostly less than 1 0 p a. Minimum rm1 000 short medium and long term tenure. Maybank islamic prosperous now account i is a shariah compliant term deposit that adheres to the islamic banking concept of murabahah.

With this account you get. Islamic term deposits based on the shariah concept of commodity murabahah cost plus sale where a specific asset as deemed fit by the bank is identified and used as the underlying asset for the sale and purchase transaction between bank and customer. Rhb commodity murabahah deposit i minimum deposit. An islamic term deposit based on the contract of commodity murabahah.

If the tenure of deposit is more than 3 months and withdrawal is made after completion of 3 months the customer agrees to provide rebate ibra based on the following formula. Commonly used for. Interest rate p a 2 55. The need for tawarruq in deposit structures.

The product was launched a year ago and has seen steady interest from customers who wanted the peace of mind that their deposits are used for ethical activities that comply with the wadiah concept. Islamic term deposits based on the shariah concept of commodity murabahah cost plus sale where a specific asset as deemed fit by the bank is identified and used as the underlying asset for the sale and purchase transaction between bank and customer. Open to anyone aged 18 years or over prosperous now offers the easy start investment with a minimum deposit of rm10 000 and terms from one to twelve months. Investment returns rm 255 00.

While it is fairly common to see tawarruq arrangement monetization of murabahah sale based transaction using commodities in financing structure tawarruq has also be widely used in deposit. Maybank islamic prosperous now. Rebate ibra murabahah sale price p x r x t 365 or 366 x 50 p where. Account i pna i minimum deposit.

Upon maturity of your deposit the bank will pay the principal amount as the profit will be offset by the security deposit that was paid upfront. So i have to move my money to fixed deposit account which given about 3 0 p a.