Qard refers to a contract of lending money by a lender to a borrower where the borrower is bound to repay an equivalent amount to the lender. Ownership of the money belonging to the lender is transferred to the borrower and the borrower is obliged to repay the lender in full. Customer as lender lend his money to Maybank Islamic as borrower.

The accountholder as depositor places his deposits on basis of trust. Maybank Islamic, as trustee, guarantees the repayment of the whole amount of deposits, or any part thereof, upon request.

Benefits

  • Based on the principle of Qard (Loan)**
  • Checking facility
  • Unlimited withdrawals can be made at the home branch
  • Outstation withdrawals of RM10,000 can be made by personal account holders
  • RM1,000 can be withdrawn per day via Maybankard Bankcard
  • Introducer is required
  • The Bank may at its discretion pay Hibah (gift) to the depositors

    **Effective 7 October 2017


Who can apply

  • Individuals aged 18 years and above
  • Companies
  • Associations
  • Clubs


Required documents

For Personal/Joint accounts

  • Original Identity Card (IC) for Malaysians and Passports for foreigners

Please also bring along any of the following secondary supporting documents:-

  • Valid Passport (if IC is produced as a Primary document)
  • Valid driving licence
  • Utility bills (e.g. water/electricity/telephone bills, Quit Rent, Assessment Notice) in the name and address of the customer opening the account
  • Letter of employment
  • Credit card

Please choose a branch located near your home or place of work.


Fees & charges

  • Service charge: RM10 per half year, waived for accounts with an average balance of RM1,000 within six (6) months
  • Replacement of ATM/bankcard: RM12
  • Early closure of account within 3 months of account opening: RM20
  • Cash withdrawals at ATM facilities owned by other banks (MEPS charges): RM1

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