FRIA-i is a fixed return investment account for Customer aged 18 years and above where the profit rate is made known earlier to the Customer upon application using the Tawarruq transactions.
Tawarruq is an arrangement that involves a purchase of a commodity or asset based on deferred payment basis by way of Murabahah (Cost Profit). In this case, the Customer is purchasing the commodity as the underlying asset from the Bank. The commodity to be used for the purpose of Tawarruq transaction is subject to commodity brokers.
- Must be 18 years old and above
- Open for individual and non-individual.
|Type of Profit Payment||
|Tenure||1, 3, 6, 9, 12, 15, 18, 24, 36, 48 and 60 months|
|Minimum Initial Amount||
|Profit Rate||Fixed Profit Rate determined upon placement.|
Note: Any changes subject to the Bank's discretion.
Fees & Charges
|Brokerage fee (Withdrawal less than 3 months)||Brokerage fee will be charged at 0.05% on the total investment or RM50.00, whichever is lower.|
|Replacement of lost Investment Deposit Statement / Certificate||RM5 per Statement / Certificate|
Note: The bank will send at least 21 days notice to customers before any changes is made to the fees and charges.
Notes: The above fees and charges are subject to 6% GST