1. What is an eFD?
  2. What is the criteria for opening an eFD account?
  3. Can I open a joint eFD account?
  4. What are the minimum and maximum deposit amounts?
  5. When is the effective date of my eFD?
  6. How do I withdraw my eFD upon maturity?
  7. Can I withdraw my eFD before maturity?
  8. Can I withdraw a certain amount of my eFD only or make a partial withdrawal?
  9. Can I withdraw my eFD in cash?
  10. What happens when an eFD customer is deceased?
  11. Will I receive any advice upon placement/renewal?
  12. Will I receive monthly statements? How do I make a balance enquiry on my eFD?
  13. Is eFD covered under Deposit Insurance?
  14. Is the interest earned from eFD taxable?
  15. Can I take a loan against my eFD?

1. What is an eFD?
eFD is a certless Fixed Deposit (FD) that can be placed and withdrawn via Maybank2u.com. No receipt/certificate will be issued upon placement; instead, an 8-digit reference number that ends with the alphabet 'E' will indicate that the Fixed Deposit is initiated at Maybank2u.com. eFD is available for both Islamic and conventional accounts.

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2. What is the criteria for opening an eFD account?
You need to have a banking account, e.g. a savings/current account.

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3. Can I open a joint eFD account?
Yes.

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4. What are the minimum and maximum deposit amounts?
The minimum amount is RM5,000 for 1 month and RM1,000 for 2 months and above. There is no maximum amount.

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5. When is the effective date of my eFD?
If you already have a Fixed Deposit account with us, the new placement under eFD will be effective immediately. If you do not have a Fixed Deposit Account, the placement will be effective when your banking account is debited and the eFD is created by our branch (on the next working day upon making a placement request via Maybank2u.com).

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6. How do I withdraw my eFD upon maturity?
You can withdraw it via Maybank2u.com.

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7. Can I withdraw my eFD before maturity?
Yes, you may. However, there will be no interest paid for premature withdrawals made within 3 months of the placement date. After 3 months, interest will be paid for the number of days the eFD is placed. The interest rate payable is only half of the quoted rate.

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8. Can I withdraw a certain amount of my eFD only or make a partial withdrawal?
No, partial withdrawal is unavailable.

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9. Can I withdraw my eFD in cash?
No. All withdrawals (both principal and interest) will be credited to your banking account (i.e. to any of your linked accounts).

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10. What happens when an eFD customer is deceased?
Once the Bank is notified of any deceased customer, subsequent instructions will be taken from the Administrator/Executor of the deceased customer's estate to release the funds to the Administrator/Executor as soon as possible.

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11. Will I receive any advice upon placement/renewal?
No, but you can view/print the confirmation of placement via Maybank2u.com or you can print the FD Account Inquiry upon renewal.

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12. Will I receive monthly statements? How do I make a balance enquiry on my eFD?
If you have enrolled for a Combined Statement, your eFD details will be reflected in your monthly Combined Statement. If you have not, an enquiry on eFD details can be made via Maybank2u.com.

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13. Is eFD covered under Deposit Insurance?
Yes.

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14. Is the interest earned from eFD taxable?
Yes, as per existing FD Account criteria.

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15. Can I take a loan against my eFD?
Yes.

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