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Zakat is one of the Five Pillars of Islam and is a form of obligatory almsgiving for Muslims. It is a financial responsibility that requires eligible Muslims to give a certain percentage of their wealth to the needy and underprivileged.

Maybank Islamic Zakat Simpanan & Pelaburan is a service to provide Maybank Islamic’s customers with the convenience to fulfil their Zakat obligations. Through Auto Debit for Zakat Simpanan & Pelaburan via Maybank2u web and the MAE app, zakat will be automatically calculated and deducted from customers' accounts without any additional charges.

By automating their zakat payments, customers can eliminate the possibility of calculation errors and consolidate all their zakat payments for Islamic deposits and investment accounts into a single statement.

The Auto Debit for Zakat Simpanan & Pelaburan feature is currently available for all Maybank Islamic savings and current accounts, including Daily Fund-i, Term Deposit, and Term Fund-i. Currently, customers can make zakat payments to Lembaga Zakat Selangor (LZS), and this will be extended to other zakat bodies in the future.

Who can apply?

• Individual account holders
• Malaysian citizens aged 18 years old and above.

Note: Not applicable to joint account holders, foreigners, Sole Proprietor, Clubs and Association.

This new feature will be available for accounts that are listed below:

Refer to the step-by-step guides below on how to set up Auto Debit for Zakat Simpanan & Pelaburan

Via Maybank2u web

Via the MAE app

Each year, the Zakat Simpanan & Pelaburan will be calculated on 31 October and the deduction will be made on 7 November. If there is insufficient balance on the first deduction date, the second deduction will happen within the next 7 calendar days (14 November). There won't be any service fees charged.

Maybank Islamic Berhad will calculate the zakat amount based on 2.5% of the customer’s total wealth (Savings, Current, Term Deposit, Term Fund-i and Daily Fund-i) which is equal to or more than a minimum Nisab at the end of the completion period on 31 October following the example below:

Note : Nisab is the amount of wealth that must be owned by a Muslim before he/she is obligated for zakat. Nisab is determined by the respective Zakat Agency and may differ from one state to another.

1. Is this service mandatory for all individual customers?
   This service is recommended to Muslim customers as zakat on savings and investment is a compulsory levy on each Muslim who has wealth which equals to or more than a minimum Nisab.
2. Will all customers whose accounts are eligible to be assessed be subject to Auto Debit for Zakat Simpanan & Pelaburan?
   No, only customers who possess savings and investments equal to or more than the specified Nisab for a given duration be liable for zakat collection.
3. Is this service for Islamic accounts only?
   Yes, this service is only available for Islamic accounts. If the customer has both categories of Islamic and Conventional accounts, only the Islamic accounts will be assessed for zakat collection.
4. Will customers be charged for this service?
   No, customers will not be charged any service fees.

Click here to read the full FAQ on Auto Debit for Zakat Simpanan & Pelaburan.

Click here for T&C for Auto Debit for Zakat Simpanan & Pelaburan.

Click here for PDS for Auto Debit for Zakat Simpanan & Pelaburan.

Maybank Islamic is a member of PIDM. Protection by PIDM is subject to insurability criteria. Please refer to the list of insured deposits displayed at maybank2u.com.my for further details.

Click here for PIDM’s DIS Brochure