What do I need to know about AmBank Islamic Afdhal Term Deposit-i?
With this Afdhal Term Deposit-i investment account, you have the total flexibility to pick your deposit period in a number of days that you are comfortable with, subject to a minimum tenure of 1 month up to 12 months.
Can I withdraw the money earlier?
You are allowed to withdraw partially subject to a minimum balance of RM5,000 and continue to earn profit at the full agreed rate with the remaining portion until your investments mature.
If you make the withdrawal after the completion of only seven days of placement, you get half of the profit on the withdrawn amount.
If you withdraw before completing one week period, the profit will be forfeited - so make sure you have enough extra cash before signing up!
Will the bank automatically renew AmBank Islamic Afdhal Term Deposit-i for me?
Yes, if the bank does not receive any instruction from you on the maturity date, the bank will automatically renew it using the same tenure with your deposits plus the profits earned.
Is this investment account protected?
Yes, your investment is eligible for protection under PIDM for a maximum of RM250,000.
