Retirement Saver
Syariah Concept
Al-Wakalah
Type of Account
- Individual Account
- Trustee account (For Corporate providend fund only, and Employer as administrator)
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Eligibility
- 18 to 59 Years Old. Upon reaching 60, Individual account will be migrated to Berjasa account.
- Brunei Citizens / Permanent Residents / Foreign nationals with valid residency permit
Requirements
Original Identity Card/s or Passport
- Authorized signatory: for corporate employee provident fund only
- Initial Deposit of $100.00
- Minimum account balance for return distribution $100.00
- Proof of employment* (latest salary slip, letter of employment or valid Staff ID)
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*required only for new customer opening account and any change to the employment (for existing customer)
- For Foreign nationals:
- Original valid Identification Card
- Original valid Passport
- Employment Pass or Dependent Pass (Child/Spouse) – at Least 3 months validity but expiry must not be less than 6 months
- Letter of Employment/Contract agreement
- Satisfactory evidence of residential address such as rental agreement / water bill
Requirements
- A dedicated savings account with a specific purpose for retirement needs
- 24/7 Cash Deposit Machine
- Return (if any) will be distributed monthly for accounts that maintain a Minimum Account Balance of B$100.00 and above.
- Special Hibah at TAIB’s discretion at the end of the year for no withdrawal during the year
- Auto Zakat Deduction option
- Access account anytime, anywhere through TAIBVX
Rate
- Expected Monthly profit rate 0.33% per annum
- Annual Special Hibah rate as per 2024 2.17% per annum
- Click here for more information on rates
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Fees
Refer to TAIB Schedule of Tariffs & Fees