Fixed Deposit
If you are opening a joint account with your spouse, child or parent, check with your bank to make sure there is a survivorship clause which enables you to lay claim on a jointly owned asset. Islamic rates are non-guaranteed but will you will not be penalized for early uplifting. Early withdrawal is allowed with rebate for Islamic FD and allowed with penalty for conventional FD. FD rates are affected by BNM base ratewhich is different depending on the bank and Overnight Policy Rate changes by BNM Monetary Policy Committee. You can put in & take out funds from a savings account at anytime with no penalties or affecting your returns %. The monthly interest will be based on your average account balance. Some “unfixed” FDs work in a similar way (but do check the T&C). Maybank’s GIA-i is an investment account which gives your profit sharing returns at approximately FD rates. If you are interested in any of the fixed deposit promotions above, please contact the respective bank to ge...