Term Deposit BND Account
A shariah compliant term deposits account with range of facilities.
Deposits may be made in cash, cheque or by direct account transfer. With a minimum deposit of only B$1,000.00, you can enjoy higher returns paid on maturity.
Eligibility
- Brunei Citizens and Permanent Residents.
- Foreign Citizens with valid work / student permit.
- Individuals aged 18 and above
Required Documents
- Original identity card or passport.
Requirements
- Minimum opening deposit of;
- B$ 1,000.00 for term period of 3 months or longer.
- B$ 5,000.00 for term period of 1 month.
- Minimum monthly balance of 1,000 foreign currency units for AUD, EUR, GBP & USD.
Fees
- Refer to the Bank's Schedule of Tariffs.
Features
Enjoy higher returns than a regular savings account
Choose a term deposit period: 1, 3, 6, 9, 12, 24, & 36 months
Profits earned may be reinvested in deposit account
Suitable For
Students
Retired Individuals
Working Professionals
Wakalah
Refers to Agency contract. The Depositor (“Muwakkil”) appoints the Bank as their agent (“Wakil”) to utilize and invest their deposits in profitable Shariah-compliant transactions. The Depositor will be offered an expected profit rate from the investments and the Bank will earn an Agency (“Wakalah”) Fee for the service rendered. Any amount that the Bank earns in excess of the Depositor’s expected profit will be retained by the Bank as Commission (“Ju’alah”).
No profit for termination of term deposit less than 1 month.
Profit, at the Bank’s discretion, may be paid proportionately to the completed months at the prevailing rate at the time of termination.
Please read the General Wakalah Terms & Conditions of Deposit Products (English) and Product Disclosure Sheet before you decide to take up the product.
For more details, please refer to the Bank’s Schedule of Tariffs or the list of applicable rates for this product.
Guaranteed protection up to maximum B$ 50,000.00 per depositor under the Deposit Protection Scheme.