CIMB Islamic Fixed Deposit-i (Maturity, Monthly and Why Wait variants)
Islamic Bank Accounts in Melaka
CIMB Islamic's Tawarruq term deposit family with board rates printed on the bank's profit-rates page effective 19 June 2026: Maturity Return from 1.75% p.a. (1 to 3 months) through 1.85% (4 to 6 months), 1.90% (7 to 14 months), 2.00% (15 to 35 months) to 2.05% (36 to 60 months); Monthly Return pays the same 1.90% to 2.05% band on 12 to 60 month tenures with profit paid monthly; the Why Wait variant (1.75% to 1.90% on 1 to 12 months) pays profit upfront. Minimum placement RM5,000 for 1 month, RM1,000 for 2 to 60 months; partial withdrawals in RM1,000 multiples keep the contracted rate on the remaining balance. PIDM protected (crawled cimb.com.my 2026-08-06).
CIMB Islamic wins the transparency race on term deposits: named Tawarruq contract, board rates with June 2026 effective dates, three payout modes including profit-paid-upfront, and partial withdrawals that keep the contracted rate on the remaining balance. At 2.05% for 36 to 60 months it edges Public Islamic's and HLISB's printed 2.00%, making it the best published long-tenor Islamic FD in this cluster.
Pros
- Freshest published rate card in the cluster (June/July 2026 effective dates)
- Upfront-profit variant is unusual and useful for cash-flow planning
- Withdrawal flexibility without rate forfeiture on the remainder
Cons
- Top rate 2.05% requires 36 to 60 month commitment
- RM5,000 floor on 1-month placements
- Slightly ahead of PIB/HLISB at long tenors but below CIMB's own FCFD-i USD rates for those with currency appetite
Open Account
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Product Details
Account Type
Term deposit (Tawarruq)
Min Deposit
RM5,000 for 1 month; RM1,000 for 2 to 60 months
Structure
Fixed upfront Tawarruq sale profit; maturity, monthly or upfront payment variants
CIMB Islamic in Melaka
CIMB Islamic's Term deposit (Tawarruq) serves customers in Melaka. Malaysian Islamic accounts pay contracted Tawarruq profit or discretionary hibah depending on the underlying contract, never interest. Deposits at PIDM member banks are protected up to RM250,000 per depositor per member bank; check each provider's membership status, which our profiles document. CIMB Islamic operates across Malaysia, so Melaka residents have full access to this product.
Our Take on CIMB Islamic
CIMB Islamic is the disclosure leader of the big-group subsidiaries: contracts named on page after page, board rates with current effective dates, and a card-structure migration (Ujrah to Tawarruq, January 2026) documented the way Shariah governance should be, with dated notices customers can read. Its Mudarabah-offset flexi mortgage is structurally the most interesting home financing in the cluster, and its cards are the rewards benchmark. Gaps: home financing pages print no indicative rates, and the savings tier table is dated 2020.
How CIMB Islamic Works
Open via OCTO or branch
EcoSave opens with RM250; FD-i placements from RM1,000 (2 to 60 months) or RM5,000 (1 month), including online.
Pick your payout
FD-i pays at maturity, monthly, or upfront on day one via the Why Wait variant; partial withdrawals keep the contracted rate on the remaining balance.
Finance with the offset
Flexi Home Financing-i customers park cash in SMIA-i, cutting daily profit with no cap and withdrawing freely via the OCTO app.
Financing Structure
CIMB Islamic standardised on Tawarruq across its retail shelf: savings (EcoSave), fixed deposits, current accounts and, since 1 January 2026, all credit cards. Its flexi mortgage adds a Mudarabah (profit-sharing) investment account as the offset vehicle, and hire purchase runs fixed or variable variants under Malaysia's Islamic hire purchase framework, each with its own PDS.
In-Depth Analysis
CIMB Islamic Bank Berhad runs Malaysia's second-largest banking group's Islamic franchise, and its defining trait in this crawl is documentation quality. Deposit pages name Tawarruq and print tier tables; the fixed deposit family carries board rates effective 19 June 2026 in three payout variants including profit-paid-upfront (Why Wait); and foreign currency FD-i rates are published for USD, EUR, GBP and AUD.
The January 2026 conversion of the entire Islamic card portfolio from Ujrah (fee-based) to Tawarruq was announced with customer notices dated 21 November 2025 and 31 December 2025, linked from the card pages themselves. Whatever one's fiqh preference between the two structures, this is what active, customer-visible Shariah governance looks like, and no other bank in the cluster has a comparable public migration trail (crawled cimb.com.my 2026-08-06).
The mortgage shelf's headline is the Flexi Home Financing-i: a Special Mudarabah Investment Account-i offsets 100% of parked balances against daily financing profit with no cap and free withdrawals through the OCTO app, making it the only named-Islamic-offset full-flexi in the cluster. The gap is pricing: neither flexi nor variable home financing pages print an indicative rate, so the PDS is mandatory reading.
Governance sits with the six-member Board Shariah Committee chaired by Assoc. Prof. Dr. Mohamed Fairooz Abdul Khir (who also serves on Maybank Islamic's committee), with international members including Prof. Dr. Aishath Muneeza and Prof. Dr. Yousef Al-Shubaily, published in the FY2025 audited financial statements.
Shariah Compliance Details
- Six-member Board Shariah Committee chaired by Assoc. Prof. Dr. Mohamed Fairooz Abdul Khir, published with the FY2025 audited financial statements (crawled 2026-08-06)
- Card portfolio converted from Ujrah to Tawarruq effective 1 January 2026 with dated notices (21 November 2025, 31 December 2025) linked on card pages (crawled 2026-08-06)
- Contracts named at page level on deposits and cards; Islamic PDS per product (crawled 2026-08-06)
- PIDM member; Islamic deposits protected up to RM250,000 (crawled 2026-08-06)
How CIMB Islamic Compares
Against Maybank Islamic, CIMB matches breadth and beats it decisively on published rates and card rewards. Against Bank Islam, CIMB wins deposits and cards while Bank Islam wins financing transparency with its printed 3.55% EPR. Against Public Islamic, CIMB's 2.05% top FD rate needs 36 months where PIB pays 2.00% from 13, and PIB's ForU2Save out-earns EcoSave below RM50,000.
Fresher deposit sheets (5 August 2026) and 2.00% from 13 months, but a much thinner card and digital proposition.
Printed home and vehicle financing rates that CIMB's mortgage pages lack; weaker deposits and cards.
Comparable disclosure culture with a full home financing board grid, plus a genuine Musharakah Mutanaqisah option CIMB does not offer.
Bottom Line
The best-documented Islamic bank shelf in Malaysia: named contracts, dated board rates, a public card-structure migration and the cluster's only Mudarabah-offset mortgage. Bring your own rate diligence on home financing, where the PDS holds the numbers the pages do not.
Read full CIMB Islamic reviewShariah Compliance & Oversight
CIMB Islamic's Board Shariah Committee (BSC) is disclosed on the CIMB Group board committees page and in the FY2025 audited financial statements: Assoc. Prof. Dr. Mohamed Fairooz Abdul Khir (Chairman), Prof. Dr. Aishath Muneeza, Dr. Ahmad Sufian Che Abdullah, Dr. Mohammad Mahbubi Ali, Jalalullail Othman and Prof. Dr. Yousef Abdullah Al-Shubaily (appointed effective 1 August 2025). Under BNM's Shariah Governance policy and IFSA 2013 the Board relies on the BSC's independent advice for all Shariah matters (cimb.com board committees page and CIMB Islamic FY2025 financial statements, crawled 2026-08-06).
2026-08-06
Why It's Halal
The product page states 'Based on the Shariah concept of Tawarruq' and the rate cards are published with explicit effective dates on the profit-rates page. Rates are pre-determined and fixed upfront, which Tawarruq permits because the return is a deferred sale price. Governance: CIMB Islamic's six-member Board Shariah Committee. Notable structural honesty: partial withdrawal keeps the predetermined rate on remaining balances, addressing the classic FD grievance (crawled cimb.com.my 2026-08-06).
Regional Availability
CIMB Islamic serves all of Malaysia
✓ Available nationwide including Melaka
Open Account: CIMB Islamic
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NationwideFrequently Asked Questions
What is CIMB Islamic Fixed Deposit-i (Maturity, Monthly and Why Wait variants)?
Why is CIMB Islamic Fixed Deposit-i (Maturity, Monthly and Why Wait variants) considered halal?
Is CIMB Islamic Fixed Deposit-i (Maturity, Monthly and Why Wait variants) available in Melaka?
What Shariah oversight does CIMB Islamic have?
What financing structure does CIMB Islamic Fixed Deposit-i (Maturity, Monthly and Why Wait variants) use?
How do I apply for CIMB Islamic Fixed Deposit-i (Maturity, Monthly and Why Wait variants) in Melaka?
Which Islamic finance providers serve Melaka in person?
How do Melaka residents pay zakat with tax benefits?
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Important: HalalWallet provides educational information and comparisons to help you explore halal financial options. We do not provide financial, legal, or religious advice. Product structures and Shariah compliance oversight vary by provider. Always verify halal compliance directly with providers and consult with qualified Islamic finance advisors or scholars for guidance on specific products and your individual circumstances.