This is a copy of the Terms and Conditions governing the Bank's depository accounts unless specified otherwise.
Please click HERE  to view the Bahasa Malaysia version of this Terms and Conditions.

1.  CURRENT/CHEQUEING ACCOUNT AND CURRENT ACCOUNT-i

1.1   CHEQUES AND CHEQUE BOOKS

(a) Cheques shall not be drawn on the Bank except on the forms supplied and registered for the Accounts.

(b) No alterations whatsoever shall be made on cheques. The Bank reserves the right to dishonour and return cheques which in the Bank’s absolute opinion bear any form of alteration (whether countersigned by the drawer or otherwise). The Bank also reserves the right to dishonour any cheque which is mutilated or has technical errors which include but not limited to a post-dated cheque, cheque showing inconsistency between the words and figures or with illegible handwriting.

(c) The Customer shall not use pencils or erasable ink pens when completing cheque forms. The Customer owes a duty to the Bank so as not to facilitate fraud or forgery. The Bank shall not be liable to the Customer for any loss suffered by the Customer arising from the Customer’s negligence or disregard of the precautions in handling cheques. The Customer agrees that the above precautions are not exhaustive and the Customer shall exercise care and caution in handling cheques and operating the Accounts.

1.2   OVERDRAWING

 No overdrawing is allowed unless the Customer has made prior arrangement with the Bank. Interest on overdrawing for Current Account shall be calculated based on daily debit balances at the rate determined by the Bank and shall be debited to the Account monthly or at such intervals as may be determined by the Bank. For Current Account-i, any permitted overdrawing shall be subject to service charge to be advised by the Bank and debited to the Account.

1.3 BAD CHEQUES

 (a) The Bank reserves the right to dishonour any cheques issued by the Customer if there are insufficient funds in the Customer’s Account for payment of the cheque (“Bad Cheque”).

 (b) The Bank reserves the right to close or impose restrictions/conditions on all or any of the Customer’s Accounts with the Bank if any one of the Customer’s Account with the Bank is not conducted satisfactorily or has been listed with the Dishonoured Cheques Information System (DCHEQS) or with any credit bureau or any organisation or corporation whether or not such bureau, organisation or corporation were/are established or approved by any governmental or regulatory authority or body.

2. SAVINGS ACCOUNT AND SAVINGS ACCOUNT-i (Applicable to Individuals only)

2.1  PASSBOOK

(a) Where a passbook is issued in respect of the savings account, the Customer must present the passbook where the withdrawal is made at any of the Bank’s branches. 

(b) Entries in the passbook will either be machine validated or entered manually under the signature of an authorised officer of the Bank.

(c) The passbook is for the Customer's reference only and is not conclusive as to the current balance of the savings account as deposits may be made or items charged without any entry being made in the passbook.

2.2  LOSS OF PASSBOOK

 In the event that the passbook is lost, mislaid or destroyed, the Bank may allow the balance of the savings account to be withdrawn or to transfer the balance to a new account subject to such conditions as may be prescribed by the Bank.

2.3 YOUNG SAVERS ACCOUNT AND YOUNG SAVINGS ACCOUNT-I

 The Bank may impose withdrawal restrictions, such as restriction to the number of times or amount that can be withdrawn in a calendar month or year. The Bank reserves the right to convert the Account to another appropriate product that shall be decided by the Bank, at the time when the Account does not have a holder younger than 18 years old (for Young Savings Account-i) or 21 years old (for Young Savers Account).

2.4  SAVINGS PLANS

(a) Unless with the consent of the Bank, the Customer shall not withdraw more than the amount and/or number of withdrawals in each calendar year as specified by the Bank and provided a minimum balance specified by the Bank is retained in the Account.

(b) A percentage, decided by the Bank, of the interest already paid shall be deducted from the account balance if the Account is closed within the minimum period which the Account must be maintained as stipulated by the Bank.

2.5 SAVINGS ACCOUNT-I AND CURRENT ACCOUNT-I

(a) The Bank may accept the sum of money deposited and any sum of moneys to be subsequently deposited into the Account based on the Shariah (Islamic) principle of Wadiah Yad Dhamanah (Guaranteed Custody) or Mudharabah (Trustee Profit Sharing) concept.

(b) Under the concept of Wadiah, the Bank accepts from the Customer who is looking for safe custody of their funds and guarantees payment of the whole sum or any part thereof standing to the credit of the Account when demanded.

(c) Under the concept of Mudharabah, the Customer (owner of the capital) places his/her funds with the Bank (entrepreneur) as capital for the purpose of investment on an agreed predetermined profit sharing ratio.  Any profit generated thereon will be distributed between the Customer and the Bank in an agreed predetermined ratio and any loss shall be solely borne by the Customer.  The Bank shall be entitled to vary the profit sharing ratio in respect of any investments from time to time by giving prior notice to its customers.

(d) The Customer shall give his consent to the Bank to utilise wholly or any part of monies standing to the credit of the Account in the manner that the Bank shall deem fit according to Shariah principles.

3.  FIXED DEPOSIT AND GENERAL INVESTMENT ACCOUNT-i

3.1  GENERAL  - FIXED DEPOSIT/INVESTMENT

(a) Fixed Deposits can be placed for tenures in multiples of one month up to tenure of 60 months or such other tenure as may be determined by the Bank.  Notwithstanding the above, if the maturity date falls on a non-Business Day, any renewal/disposal instructions by the Customer will be carried out on the next Business Day.

(b) Premature withdrawal may be allowed subject to the terms and conditions stipulated by the Bank.

3.2  GENERAL INVESTMENT ACCOUNT-I - PROFIT SHARING RATIO

 (a) This product is based on the Shariah (Islamic) principle of Mudharabah (Trustee Profit Sharing) concept. It is a contract between two parties, where the Customer (owner of capital) places a specified sum of money with the Bank (the entrepreneur) for a stipulated period of time based on an agreed predetermined profit sharing ratio. The profit will be distributed between the Customer and the Bank in an agreed predetermined ratio and any loss shall be solely borne by the Customer. The Bank shall be entitled to vary the profit sharing ratios in respect of any investments from time to time by giving prior notice to its customers.