Kuwait Finance House Bank fixed deposit Malaysia is an innovative investment instrument operated based on Islamic principles or Tawarruq and Murabahah. Much like the conventional types of fixed deposits, this one also guarantees the investors investment returns.
But the good thing about the term deposit offered by this foreign financial institution is that the investors are allowed to reinvest the returns they have earned in order to achieve higher profits.
The investment facility offered by Kuwait Finance House Bank (KFH) in Malaysia is one of the safest options. Investors are the ones who are capable of deciding the tenure or period of investment and the amount of money they would like to deposit at the fixed period of time. If you are interested in a fixed deposit without being afraid of abusing Sharia law, this one could be the ideal option.
Kuwait Finance House Bank fixed deposit Malaysia is your opportunity to grow your funds from the very first money you deposit with the bank. The rate of interest the bank has to offer is relatively higher than the conventional deposit account. However, the interest rate is typically dependent on the lenders (small financial institutions, private sectors, or public sectors).
Kuwait Finance House Bank Fixed Deposit Malaysia
|Deposit||FD Month||Rates ( % per annum )|
|RM 500||1 Month||0,3%|
|RM 100||2 Month||0,3%|
|RM 100||3 Month||3,1%|
|RM 100||4 Month||3,1%|
|RM 100||5 Month||3,1%|
|RM 100||6 Month||3,2%|
|RM 100||7 Month||3,2%|
|RM 100||8 Month||3,2%|
|RM 100||9 Month||3,2%|
|RM 100||10 Month||3,2%|
|RM 100||11 Month||3,2%|
|RM 100||12 Month||3,3%|
|RM 100||15 Month||3,3%|
|RM 100||18 Month||3,3%|
|RM 100||24 Month||3,3%|
|RM 100||36 Month||3,3%|
|RM 100||48 Month||3,3%|
|RM 100||60 Month||3,3%|
Compared to standard fixed deposit facilities, the term deposit in KFH Malaysia is operated under Sharia laws. Under these principles, the bank will let the investors know the profit they will be earning upfront. Investors can also start with an initial investment of only RM 100 for the tenure of three months or above. For a term of one month, the minimum initial deposit is RM 500. If you are wondering how to apply for the KFH fixed deposit, below is the quick tutorial you may follow
How to apply for a fixed deposit in Kuwait Finance House Bank
- To apply for an individual account, make sure you already 18 years old. However, associations, clubs and societies, cooperatives, companies, and government institutions can also apply for this type of deposit.
- If you are Malaysian citizens or permanent residents, you need to prepare your national registration identity card or passport.
- Bring all the required documents along with the number of funds you would like to put as an initial deposit to the nearest branch of Kuwait Finance House Bank in Malaysia. The customer service will assist you in the process of term deposit application. However, before you go to the branch, make sure you have thoroughly understood all the information related to the service. If there be any inquiries, consider asking the customer service.