CIMB Islamic EcoSave Savings Account-i
Islamic Bank Accounts in Perlis
CIMB Islamic's paperless, environment-themed savings account based on the Shariah principle of Tawarruq (stated on page), with tiered profit rates printed on the page: 0.15% p.a. on the first RM50,000, 0.20% to RM100,000, 0.40% to RM200,000 and 1.00% above RM200,000, effective 1 June 2020, with profit calculated daily and credited monthly. Minimum initial deposit RM250, open to individuals 18+, joint accounts allowed, PIDM protected up to RM250,000 (crawled cimb.com.my 2026-08-06).
EcoSave-i pairs a named Tawarruq contract with an actually printed tier table, and its 1.00% top tier is the best standard printed savings rate among the six banks, though the table's June 2020 date deserves a freshness check. Small savers get little (0.15%); the account only sings above RM200,000. Below that, Public Islamic's MySalary tiers or RHB's behaviour-driven Smart Account-i bonuses will out-earn it.
Pros
- 1.00% printed top tier is the highest standard savings rate printed in this cluster
- Named contract plus dated rate table on one page
- Low RM250 entry
Cons
- Sub-RM50,000 balances earn only 0.15%
- Rate table dated June 2020; freshness needs confirming
- RHB Smart Account-i advertises up to 6.60% bonus rates for qualifying behaviour
Open Account
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Product Details
Account Type
Savings account (Tawarruq)
Min Deposit
RM250
Structure
Tawarruq profit, tiered by balance, calculated daily and credited monthly
CIMB Islamic in Perlis
CIMB Islamic's Savings account (Tawarruq) serves customers in Perlis. 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 Perlis 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 page names the contract ('based on the Shariah principle of Tawarruq') and prints the full tier table with its effective date, so returns are contractual sale profit rather than interest. Governance sits with CIMB Islamic's six-member Board Shariah Committee (published on cimb.com and in the FY2025 financial statements). Honest caveat: the printed tier table is dated effective 1 June 2020, so it predates recent OPR moves; confirm at branch whether tiers have been repriced (crawled cimb.com.my 2026-08-06).
Regional Availability
CIMB Islamic serves all of Malaysia
✓ Available nationwide including Perlis
Open Account: CIMB Islamic
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NationwideFrequently Asked Questions
What is CIMB Islamic EcoSave Savings Account-i?
Why is CIMB Islamic EcoSave Savings Account-i considered halal?
Is CIMB Islamic EcoSave Savings Account-i available in Perlis?
What Shariah oversight does CIMB Islamic have?
What financing structure does CIMB Islamic EcoSave Savings Account-i use?
How do I apply for CIMB Islamic EcoSave Savings Account-i in Perlis?
What halal finance actually reaches Perlis?
What serves Perlis's farming economy?
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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.