AgroMuda-i PLUS inculcate your children saving habits for a brighter future with AgroMuda-i PLUS savings account designed specifically for the young ones as early as one (1) day old.
Shariah Concept
- The applicable Shariah concept is Tawarruq. Tawarruq consists of two (2) contracts of sale and purchase. The first transaction involves the sale of Commodity by the seller (Customer) to the purchaser (Bank) based on deferred payment. Then the purchaser (Bank) at the first sale transaction will sell these Commodities to a third party (Commodity Supplier) for cash.
PRODUCT DETAILS
Types of Account and Applicant Eligibility
|
ACCOUNT DETAILS |
|
|
Trust Account (operated by parent or guardian) |
Open to Malaysian children aged one (1) day old to 12 years old and below. |
|
Minor Account (self-operated) |
Open to Malaysian children aged 12 years old to below 18 years old. |
|
External Account |
Open to non-citizen children below 18 years old as the primary account holder and manage by either parents or guardian aged 18 years old and above. |
Minimum Initial Deposit
- Trust Account: Minimum amount of initial deposit is RM5.00
- Minor Account: Minimum amount of initial deposit is RM5.00
- External Account: Minimum amount of initial deposit is RM100.00
Minimum Balance
- Trust Account: Minimum balance shall not be less than RM10.00 at any time.
- Minor Account: Minimum balance shall not be less than RM10.00 at any time.
- External Account: Minimum balance shall not be less than RM20.00 at any time.
PRODUCT BENEFIT
- Cashless with Agro VISA Debit-i card (12 years old and above).
- Profit credited monthly according to current Effective Profit Rate specified by the Bank.
- Passbook less account opening. A statement can be accessed through Internet Banking
- Agrobank Contact Centre operates 24 hours.
- Wide access to any retail merchants using Agro VISA Debit-i card (12 years old and above).
