Ar-Rizq Term Deposit Account (Corporate)
Ar-Rizq Deposit Account is a short term deposit based on the Syariah concept of Al-Wakalah
Syariah Concept
Al-Wakalah
Term
- 3 months
- 6 months
- 9 months
- 12 months
Type of Account
- Ar-Rizq registered company
- Ar-Rizq Business names
Eligibility
- Must have Micro or Corporate current account for principal allocation and profit
Requirements
- Identity card(s)
- Authorized signatories*
- Certificate of Incorporation*
- Certificate of Registration*
- Authority letter*
- Instructions & E-statements*
- Initial Deposit of $1,000 and maximum deposit is $5,000,000
* if applicable
Benefits
- Profit distribution upon maturity
- Syariah compliant
- Low mininum deposit
Rates
| Tenure |
|---|
| 3 Months |
| 6 Months |
| 9 Months |
| 12 Months |
| Individual (Expected Profit rate per annum) |
|---|
| 0.20% |
| 0.45% |
| 0.45% |
| 0.45% |
| Corporate (Expected Profit rate per annum) |
|---|
| 0.20% |
| 0.45% |
| 0.45% |
| 0.45% |
Refer to Rates for more information
Fees
Refer to TAIB Schedule of Tariffs and Fees