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AFFIN ISLAMIC Term Deposit-i (AiTD-i) And Affin Islamic Term Deposit Plus-i (AiTD Plus-i) - Revised Premature Withdrawal Rules

Dear Valued Customers,
 
Thank you for being our loyal customer.
 
We would like to inform that any new placement and/or renewal of Affin Islamic Term Deposit-i (AITD-i) and Affin Islamic Term Deposit Plus-i (AITD Plus-i) made on and after 1 August 2018, no profit will be paid for premature withdrawal made on or after 1 January 2019.
 
The premature withdrawal clause will be revised as follows:
No Product’s Feature Existing New Placement and Account Renewal
Effective 1 AUGUST 2018
1 Premature Withdrawals (Early Payment) For Early Payment (Premature Withdrawal), the Customer shall agree to grant Ibra’ (rebate) on a part or all of the contracted profit to the Bank as follows: For Early Payment (Premature Withdrawal), customer shall agree to grant Ibra’ (rebate) on all of the contracted profit in the event of withdrawal prior to maturity date. No profit shall be paid to customer.
  1. Within three (3) months from the date of opening of account.
- No profit shall be paid by the Bank. Customer shall waive his/her right on the entire contracted profit.
  1. Above three (3) month from the date of opening of account.
- The Bank shall pay only 50% of profit computed based on completed months. Customer shall waive his/her right on the remaining contracted profit.
 
For premature withdrawal performed prior 1 January 2019 (for placement or renewal made on or after 1 August 2018), the Bank may pay the profit as per the existing premature withdrawal clause as per the above. 
 
Placement or renewal made before 1 August 2018 will not be affected by this revision.
 
For more information on the products, visit your nearest AFFIN ISLAMIC/ AFFINBANK branch or log on to www.affinislamic.com.my.
 
Thank you for your continuous support.
 

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