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FRIA-i 45Plus

FRIA-i 45Plus is a fixed return investment account for senior citizen age 45 years and above where the profit rate is made known earlier to the Customer upon application based on the Tawarruq transactions.

 

fria_45-2

 

Tawarruq is an arrangement that involces a purchase of a commodity or asset based on deferred payment basis by way of Murabahah (Cost Progit). In this case, the Customer is purchasing the commodity as the underlying asset from the Bank. The commodity or asset is then sold for cash to a party other than the original seller.

Commodity to be used for the purpose of Tawarruq transaction is subject to commodity brokers.

 

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Product Details

The concept of Tawarruq
Minimum Deposit

RM1, 000

Profit paid on the maturity date (Maturity returns)

RM5, 000

Profit paid on the effective date of investments (Upfront returns)

Tenure 6, 12, 24, or 36 months
Profit rates
The Period
Profit paid on the maturity date (Maturity returns)
Profit paid on the effective date of investments (Upfront returns)
6 months 3.45% 3.40%
12 months 3.70% 3.65%
24 months 3.70% -
36 months 3.70% -

 

Profit rates will be determined during the opening or renewal of account.

Profit payment option

Method of payment

The investment period

Upfront returns

6 or 12 months

Monthly

6, 12, 24 or 36 months

Half-yearly

12, 24 or 36 months

Annual

24 or 36 months

Maturity returns

6, 12, 24 or 36 months

 

Type of account
  • Individual Accounts
    The account is operated directly by individuals aged 45 years and above during account opening.
  • Joint accounts
    The account is operated by a group of individuals is not more than 5 persons (aged 18 years and above) in which the account holder is an individual aged 45 years and above during account opening.


Note: Any changes subject to the Bank's discretion.

 

Eligibility Criteria

  • Senior citizen age 45 years and above
  • Open for individual account only
  • Types of individual account for this product are classified into:

 

Individual Account Account that is opened by individual aged 45 years old and above.
Joint Account (Individual)
  • Account opened by a group of not more than 5 persons.
  • The primary holder must be a person aged 45 years old and above during opening an account.

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


CALL CENTRE: 1 300 (AGRO)