Public Islamic Bank Term Deposit-i
Islamic Bank Accounts in Sabah
Public Islamic Bank's capital-guaranteed term deposit, described on the page as based on the Shariah concept of Murabahah and Tawarruq, with fixed pre-determined returns and no maximum deposit. Printed rates effective 5 August 2026: 1.70% p.a. for 1 to 3 months, 1.80% for 4 to 6 months, 1.85% for 7 to 12 months and 2.00% for 13 to 60 months, with identical rates on the PB eTerm Deposit-i placed online. Minimum RM5,000 for 1 month, RM1,000 for 2 months and above. Open to residents and non-residents 18+, plus societies, associations, clubs, government agencies and businesses. PIDM protected up to RM250,000 per depositor (crawled publicislamicbank.com.my 2026-08-06).
Public Islamic's Term Deposit-i is the sweet spot for medium-term Islamic savings: 2.00% p.a. from just 13 months, versus 36 months for CIMB's 2.05%, with contracts named and rates dated one day before our crawl. Short-tenor money does marginally better at CIMB or RHB (1.75% vs 1.70%), but for one-to-five-year parking this is the cluster's most efficient printed offer.
Pros
- 2.00% at 13 months is the fastest route to a 2% Islamic deposit rate among the six banks
- Rates published with a same-week effective date
- Low RM1,000 entry for tenures of 2+ months
Cons
- Short tenures (1.70% at 1 to 3 months) trail CIMB and RHB's 1.75%
- No upfront-profit or monthly-payout variants printed like CIMB's
Open Account
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Product Details
Account Type
Term deposit
Min Deposit
RM5,000 for 1 month; RM1,000 for 2 to 60 months
Structure
Fixed pre-determined Murabahah/Tawarruq sale profit
Public Islamic Bank in Sabah
Public Islamic Bank's Term deposit serves customers in Sabah. 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. Public Islamic Bank operates across Malaysia, so Sabah residents have full access to this product.
Our Take on Public Islamic Bank
Public Islamic Bank is the quiet value pick of the cluster: the best unconditional printed savings rate (ForU2Save 2.10%), the fastest route to a 2.00% term deposit (13 months), same-week rate sheets, and contract names baked into the product titles. Financing is the weak flank for a comparison shopper: pages are thin, with no printed product rates or margins, deferring everything to the PDS. Its personality mirrors its parent: conservative, precise, and understated to a fault.
How Public Islamic Bank Works
Open with modest minimums
CM Savings from RM250; Term Deposit-i from RM1,000 (2+ months) or RM5,000 (1 month); current accounts from RM3,000 with an introducer.
Pick the right variant
Ask for ForU2Save (2.10% first RM50,000) rather than the standard CM Savings; salary earners can use MySalary tiers to 1.00%.
Finance via PDS
Home, vehicle and personal financing pricing is disclosed in the PDS and at quotation; check the published financing rates page for the SBR (2.75%), BR (3.27%) and BFR (6.47%) benchmarks.
Financing Structure
Public Islamic runs Commodity Murabahah (Tawarruq) across deposits, with the mechanics governed by a published 5.00% Ceiling Profit Rate: the bank trades commodities at the ceiling-derived selling price and depositors earn the effective profit rate. Vehicle financing is AITAB (lease ending in sale), named in the product title. Financing contracts for home and personal products are documented in the per-product PDS.
In-Depth Analysis
Public Islamic Bank Berhad (company no. 197301001433) commenced operations on 1 November 2008 as Public Bank's wholly owned Islamic subsidiary, distributing through 260 Public Bank branches plus four full-fledged Islamic branches at Kg Baru, Putrajaya, Wakaf Siku and Jalan Kota (bank's own about page, crawled 2026-08-06).
Its deposit franchise is the cluster's best-kept secret. The ForU2Save variant prints 2.10% on the first RM50,000 with no salary-crediting or spending conditions, beating every standard adult savings rate in the market; the Term Deposit-i reaches 2.00% at 13 months where CIMB requires 36 for its 2.05%; and rate sheets carry effective dates as fresh as 5 August 2026, one day before our crawl. Behind it all sits a published 5.00% Ceiling Profit Rate that explains how the Tawarruq commodity trade prices, disclosure most banks skip entirely.
Financing is where the comparison shopper hits a wall: the Home Equity Financing-i page lists features (35-year tenures, redraw, green preferential rates, First Home Mortgage Guarantee Programme participation) but no rate, margin or contract name; AITAB Hire Purchase-i names its contract prominently but prices at quotation. The published Code of Ethics on Repossession and the HPAA 2026 transition notices show a bank that documents conduct even when it does not print prices.
Governance is strong on names: the Shariah Committee's full biographies are published, chaired by Dr. Shafaai bin Musa with members trained at Al-Azhar, IIUM, USIM, Exeter and INCEIF. The card shelf is small but distinctive, including a Gold MasterCard-i that automatically donates 0.1% of dining spend to Yayasan Waqaf monthly.
Shariah Compliance Details
- Shariah Committee with full published biographies, chaired by Dr. Shafaai bin Musa (publicislamicbank.com.my corporate governance page, crawled 2026-08-06)
- Full-fledged Islamic bank under IFSA 2013, wholly owned by Public Bank, operating since 1 November 2008 (crawled 2026-08-06)
- Ceiling Profit Rate (5.00%) published for Commodity Murabahah deposit pricing (crawled 2026-08-06)
- PIDM protection up to RM250,000 stated on individual deposit product pages (crawled 2026-08-06)
How Public Islamic Bank Compares
Against CIMB Islamic, PIB wins medium-term deposits (2.00% at 13 months vs 36) and freshness, loses cards and digital. Against RHB Islamic, PIB's unconditional 2.10% ForU2Save beats RHB's conditional 6.60% ceiling for most real savers, while RHB prints far more financing pricing. Against Maybank Islamic, PIB's rate sheets are current where Maybank's are stale, but Maybank's network and product breadth are in a different class.
Better cards, digital banking and payout flexibility on deposits; needs 36-month commitment to beat PIB's 13-month 2.00%.
Far richer printed financing pricing and a partnership mortgage option; savings yields need behavioural hoops PIB does not impose.
Matches PIB's 2.00% at 13 months with a lower RM500 entry, and adds page-level contract education; savings rates are weaker.
Bottom Line
The saver's bank of Malaysia's big six: 2.10% unconditional on the first RM50,000, 2.00% term deposits from 13 months, and Tawarruq mechanics disclosed down to the ceiling rate. Financing shoppers should extract the PDS numbers before committing, because the pages will not volunteer them.
Read full Public Islamic Bank reviewShariah Compliance & Oversight
Public Islamic Bank publishes full biographies of its Shariah Committee on its corporate governance page: Dr. Shafaai bin Musa (Chairman, appointed June 2022; Al-Azhar, IIUM and Glasgow Caledonian trained), Assoc. Prof. Dr. Syed Musa Syed Jaafar Alhabshi (November 2022), Assoc. Prof. Dr. Yasmin Hanani Mohd Safian (April 2024; Al-Azhar, Birmingham and Exeter trained), Assoc. Prof. Dr. Mohamad Zaharuddin Zakaria (USIM), and Hj. Abdul Rahman Mohd Yusoff (1 April 2025; INCEIF Teaching Fellow, former ISRA Consulting interim Deputy CEO) (publicislamicbank.com.my/personal-banking/about-us/corporate-governance/shariah-committee/, crawled 2026-08-06).
2026-08-06
Why It's Halal
The page names the contracts (Murabahah and Tawarruq), states capital guarantee and fixed pre-determined returns (permissible because the return is a deferred sale price), and the rate sheet carries a 5 August 2026 effective date, one day before our crawl, the freshest rate evidence in this cluster. Oversight: Public Islamic Bank's named Shariah Committee chaired by Dr. Shafaai bin Musa (crawled publicislamicbank.com.my 2026-08-06).
Regional Availability
Public Islamic Bank serves all of Malaysia
✓ Available nationwide including Sabah
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Compare With Other Options in Sabah
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NationwideFrequently Asked Questions
What is Public Islamic Bank Term Deposit-i?
Why is Public Islamic Bank Term Deposit-i considered halal?
Is Public Islamic Bank Term Deposit-i available in Sabah?
What Shariah oversight does Public Islamic Bank have?
What financing structure does Public Islamic Bank Term Deposit-i use?
How do I apply for Public Islamic Bank Term Deposit-i in Sabah?
How practical is Islamic banking outside Kota Kinabalu?
Are Sabah deposits protected the same way as peninsular deposits?
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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.