Maybank Islamic Review - Halal Finance Products
Reviewed quarterly and updated for major content changes.
Maybank Islamic offers halal financial products and services designed to align with Islamic principles. These options provide alternatives to conventional interest-based financial products, using structures like Murabaha, Ijara, and Musharakah.
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HalalWallet 2026 Review
Maybank Islamic - At a Glance
7
Products Reviewed
All
Provinces (Nationwide)
4
Categories
Our Verdict
Maybank Islamic is the distribution king of Malaysian Islamic banking: every product category, the country's biggest network, and genuinely senior Shariah governance with all five scholars profiled publicly. Its weakness is rate transparency, with deposit returns poorly surfaced online and a crawlable legacy rates page still showing 2015 tables. Choose it for reach, contract clarity and governance pedigree; verify current pricing at the branch or in the PDS because the website will often not tell you.
Pros & Cons
What We Like
- Chairman Assoc. Prof. Dr. Aznan Hasan is one of the most senior figures in global Shariah governance
- Contract disclosure on the product pages themselves, often with plain-language explanations
- Full product breadth including American Express Islamic cards and HouzKEY rent-to-own
- Largest banking network in Malaysia for branch, ATM and digital service
What Could Be Better
- Deposit profit rates are not reliably published; the legacy Islamic rates page carries 2015-dated tables
- Personal Financing-i printed rates (from about 9% fixed for open market) trail civil-servant packages elsewhere
- Some account opening is still branch-based per page instructions
Who Is Maybank Islamic Best For?
Customers consolidating everything in one bank
Full Islamic shelf inside Malaysia's largest branch and digital network
Contract-conscious depositors
Qard savings and current accounts with the contract explained on-page
Premium cardholders wanting Amex acceptance
Ikhwan American Express and Visa cards under Shariah structures
Detailed Analysis
Maybank Islamic is the Islamic banking arm of Malayan Banking Berhad and, by distribution, the largest Islamic banking franchise in Malaysia. Its retail proposition rests on ubiquity: the same Savings Account-i or home financing can be serviced at any Maybank branch, through Malaysia's largest ATM fleet, or on Maybank2u, the country's dominant digital banking platform.
Shariah governance is a genuine strength. The five committee members are published with full profiles: Assoc. Prof. Dr. Aznan Hasan has chaired since May 2014 and simultaneously serves as President of ASAS and Deputy Chairman of the Securities Commission's Shariah Advisory Council; the committee also includes Dr. Oni Sahroni of Indonesia's DSN-MUI and Ustaz Mohd Kamal Mokhtar, a judge of Singapore's Shariah Appeal Court, giving the body cross-border weight (crawled maybank2u.com.my 2026-08-06).
Contract disclosure at product level is consistently good: the Savings Account-i page teaches Qard mechanics, the home financing page names Commodity Murabahah, vehicle financing names AITAB, and personal financing names Tawarruq. What is missing is pricing: deposit profit rates are largely absent from crawlable pages, and the bank's legacy Islamic rates page is dated 2015. The practical consequence is that a customer can verify what the contract is but usually not what it pays without visiting a branch.
Against the cluster, Maybank Islamic wins on network and governance seniority, draws on contract clarity, and loses on printed rates to CIMB (dated board rates), RHB (full rate schedules), Public Islamic (same-week rate sheets) and Bank Islam (printed financing EPRs).
How It Works
Maybank Islamic uses classical contract mapping across its shelf: Qard (interest-free loan to the bank) for transactional deposits, Commodity Murabahah/Tawarruq for term deposits and home and personal financing, AITAB (Ijarah then sale) for vehicle financing and Ujrah-family structures on cards. Each retail page names its contract, and PIDM protection applies to Islamic deposits separately from any conventional accounts a customer holds in the wider group.
Open the account or apply
Branch opening for most deposit accounts (RM250 adult minimum on Savings Account-i; RM1 for minor/student variants); financing applications via branch or Maybank2u.
Know your contract
Each product page names its Shariah contract (Qard, Commodity Murabahah, AITAB, Tawarruq); the PDS carries the full mechanics and pricing.
Bank on the network
Service via any Maybank branch, the country's largest ATM fleet, Kawanku Phone Banking and Maybank2u online/mobile.
Shariah Compliance Review
Oversight Level
Review details on provider's website
Five-member Shariah Committee with full public profiles, chaired by Assoc. Prof. Dr. Aznan Hasan since 1 May 2014 (maybank2u.com.my Shariah Committee page, crawled 2026-08-06)
Operates under BNM's Shariah Governance policy and IFSA 2013, with BNM's Shariah Advisory Council as apex authority
Contracts named at product level across deposits, financing and cards (crawled 2026-08-06)
PIDM membership stated on deposit product pages; Islamic deposits protected up to RM250,000 separately from conventional deposits (crawled 2026-08-06)
Shariah compliance should always be verified directly with Maybank Islamic. HalalWallet reports publicly available oversight information but does not issue fatwas or certify compliance.
How It Compares
Against Bank Islam, Maybank Islamic offers a bigger network and Amex cards but cannot match Bank Islam's printed 3.55% home financing EPR or its pure-play balance sheet. Against CIMB Islamic, Maybank's governance profiles are deeper but CIMB publishes current rates and documented card structure migrations where Maybank's rate pages are stale. Against RHB Islamic and Public Islamic, the trade is the same: Maybank for distribution and governance pedigree, the others for printed numbers.
Pure-play Islamic bank with the cluster's best printed financing rates (3.55% home EPR, 2.10% to 3.92% vehicle grid), but a smaller branch network.
vs. CIMB Islamic
Comparable big-group distribution with far better rate publication (June 2026 FD-i board rates) and stronger card rewards (12% PETRONAS rebate).
Smaller shelf but same-week deposit rate sheets and the best unconditional savings rate (ForU2Save 2.10%).
Bottom Line
Malaysia's biggest Islamic banking franchise with governance to match: five publicly profiled scholars and contracts named on every page. Bank here for reach and rigour, but never accept a rate quoted from memory: the website's numbers are often years old, so demand the PDS.
Products from Maybank Islamic
Why It's Halal
AITAB is named in the product title and defined on the page: the bank leases the vehicle to the customer and ownership transfers by sale at the end, the BNM-recognised Islamic hire purchase structure operating under Malaysia's Hire-Purchase Act framework. A dedicated Islamic hire purchase fees list is linked. Oversight is Maybank Islamic's named five-scholar Shariah Committee. Honest caveat: term charge rates are described as 'attractive and competitive' but no rate grid is printed on the page (crawled maybank2u.com.my 2026-08-06).
Maybank Islamic
Al-Ijarah Thumma Al-Bai (AITAB) Vehicle Financing
Maybank Islamic's hire purchase-i, described on the page as Shariah-compliant car financing based on the principles of Ijarah Thumma Al-Bai' (lease followed by sale). Margin of finance runs to a maximum of 90% of the dealer's or seller's invoice for new passenger cars, 4WD, MPV and SUV (CBU and CKD) and unregistered reconditioned imports, and 85% for second-hand vehicles, all with payment periods up to 108 months (9 years). The page lists road tax and motor takaful renewal support, payment via branches, ATMs, Maybank2u and e-kawanku, and an extensive nationwide dealer network (crawled maybank2u.com.my 2026-08-06).
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Maybank Islamic
Current Account-i
Maybank Islamic's checking account, described on the page as a Shariah-compliant current account based on the Shariah concept of Qard, with chequing facility, unlimited withdrawals at the home branch, outstation withdrawals of RM10,000 daily (personal account holders) or RM1,000 daily via Maybankard Bankcard, and PIDM protection. Minimum deposit is RM1,000 for individual/joint accounts and RM2,000 for other accounts; an introducer is part of the opening requirements (crawled maybank2u.com.my 2026-08-06).
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Maybank Islamic
Islamic Fixed Deposit-i (IFD-i)
Maybank Islamic's term deposit, described on the page as a Shariah-compliant term deposit based on the Murabahah concept (cost-plus sale) with an attractive return pre-determined upfront. Tenures run from 1 to 60 months, with minimum placement of RM5,000 for 1 month and RM1,000 for 2 months and above. The account can be used as collateral for banking facilities, carries Personal Accident Takaful coverage for medical and funeral expenses, and is protected by PIDM (crawled maybank2u.com.my 2026-08-06).
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Maybank Islamic
Savings Account-i
Maybank Islamic's everyday savings account, described on the product page as a Shariah-compliant savings account based on the contract of Qard (loan): the customer lends money to Maybank Islamic as borrower, which is obliged to repay in full. It comes with the Maybank Card Visa Debit earning TreatsPoints, e-pos cashless shopping, Maybank2u online banking, ATM services and Kawanku Phone Banking, no cap on withdrawals at home branches, and PIDM protection. Minimum deposit is RM250 for adults and RM1 for Trust/Minor/Student/monthly instalment accounts (crawled maybank2u.com.my 2026-08-06).
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Maybank Islamic
Ikhwan Credit Cards-i (Visa Infinite / Amex Platinum and Gold / Petronas Visa)
Maybank Islamic's Ikhwan family of Islamic credit cards: Ikhwan Visa Infinite Card-i (described on its page as an ujrah-based credit card with 2 TreatsPoints per RM1 locally and 5 per RM1 overseas, 10,000 activation points, Enrich/KrisFlyer/Qmiles conversion, complimentary green fees at premium golf clubs and 5 annual Priority Pass lounge visits), plus Ikhwan American Express Platinum and Gold, Petronas Ikhwan Visa Platinum and Gold, Mastercard Ikhwan Platinum/Gold and World Mastercard Ikhwan Card-i listed on the all-cards page (crawled maybank2u.com.my 2026-08-06).
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Maybank Islamic
Maybank Islamic Personal Financing-i
Maybank Islamic's unsecured personal financing with fixed monthly instalments: RM5,000 to RM100,000 over 1 to 6 years, with printed fixed profit rates tiered by amount: 11% p.a. for RM5,000 to RM20,000, 10% p.a. for RM20,001 to RM50,000, and 9% p.a. for RM50,001 to RM100,000. No guarantor, no collateral, no document stamping, no processing fee and no early settlement fee; late payment charge is 1% p.a. on the amount in arrears. Applicants earn TreatsPoints for every ringgit approved. Eligibility: Malaysian citizens aged 21 to 60 with minimum income RM30,000 per year (crawled maybank2u.com.my 2026-08-06).
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Maybank Islamic
Commodity Murabahah Home Financing-i
Maybank Islamic's flagship home financing, based on the principle of Murabahah (cost plus profit) executed through trading of identified Shariah-compliant commodities such as Crude Palm Oil and RBD Palm Olein. Margin of financing runs up to 100% of house value including Mortgage Reducing Term Takaful (MRTT) and related expenses, or up to 90% without; financing eligibility up to 70% of gross income; tenures up to 30 years or age 60 (35 years or age 70 for professionals and graduates). Customers choose fixed, tiered or variable profit rates with a ceiling-rate cap against Islamic Base Rate fluctuation, no compounding of profit, no early settlement charge or lock-in penalty, 20% stamp duty reduction on new financing, waiver on conversion from a conventional facility, and rebate (ibra) for early settlement. Minimum property value RM75,000 and minimum financing RM10,000 (crawled maybank2u.com.my 2026-08-06).
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Where Available
Based on listings we track, Maybank Islamic operates nationwide:
Nationwide availability
Availability may vary by product type. Always verify current availability directly with Maybank Islamic.
How We Compare
- • We review publicly available information from providers, including Shariah compliance documentation.
- • We compare financing structures, total costs, down payment requirements, and state availability.
- • We prioritize providers that clearly explain their halal compliance rationale and operate with transparency.
- • We note which products are available nationwide versus regionally.
- • Learn more about our methodology.
Quick Answer
Maybank Islamic offers halal financial products that comply with Shariah principles, avoiding interest (riba) and prohibited industries. Their products are available in 1 state and include Bank Accounts, Home Financing, Personal Financing, Vehicle Financing options.
Key Takeaways
- Maybank Islamic offers Shariah-compliant financial products that avoid interest and prohibited industries.
- Products are available in 1 state: Nationwide.
- Product categories include Bank Accounts, Home Financing, Personal Financing, Vehicle Financing.
- Always verify compliance directly with Maybank Islamic and consult qualified Islamic finance advisors when needed.
- Compare Maybank Islamic's products with other providers to find the best fit for your needs.
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.
Sources and review process
This page is reviewed against HalalWallet editorial standards and source documentation.
Reviewed by: HalalWallet Editorial Team
Last reviewed: 2026-03-09
How to cite this page
Preferred format:
For time-sensitive claims (rates, fees, state availability), please verify directly with the provider's official documentation and note the retrieval date.
Related Guides
Frequently Asked Questions
What types of halal products does Maybank Islamic offer?
Maybank Islamic offers 7 products across 4 categories. Maybank Islamic is best for [object Object],[object Object],[object Object]. Review the products listed above or contact Maybank Islamic directly for current offerings.
How does Maybank Islamic ensure Shariah compliance?
Five-member Shariah Committee with full public profiles, chaired by Assoc. Prof. Dr. Aznan Hasan since 1 May 2014 (maybank2u.com.my Shariah Committee page, crawled 2026-08-06) Operates under BNM's Shariah Governance policy and IFSA 2013, with BNM's Shariah Advisory Council as apex authority Contracts named at product level across deposits, financing and cards (crawled 2026-08-06) PIDM membership stated on deposit product pages; Islamic deposits protected up to RM250,000 separately from conventional deposits (crawled 2026-08-06)
How does Maybank Islamic work?
Open the account or apply: Branch opening for most deposit accounts (RM250 adult minimum on Savings Account-i; RM1 for minor/student variants); financing applications via branch or Maybank2u. Know your contract: Each product page names its Shariah contract (Qard, Commodity Murabahah, AITAB, Tawarruq); the PDS carries the full mechanics and pricing. Bank on the network: Service via any Maybank branch, the country's largest ATM fleet, Kawanku Phone Banking and Maybank2u online/mobile.
Is Maybank Islamic available in my state?
Maybank Islamic operates nationwide, though specific products may have regional limitations. Always verify current availability directly with Maybank Islamic.
What are alternatives to Maybank Islamic?
Against Bank Islam, Maybank Islamic offers a bigger network and Amex cards but cannot match Bank Islam's printed 3.55% home financing EPR or its pure-play balance sheet. Against CIMB Islamic, Maybank's governance profiles are deeper but CIMB publishes current rates and documented card structure migrations where Maybank's rate pages are stale. Against RHB Islamic and Public Islamic, the trade is the same: Maybank for distribution and governance pedigree, the others for printed numbers. Bank Islam Malaysia: Pure-play Islamic bank with the cluster's best printed financing rates (3.55% home EPR, 2.10% to 3.92% vehicle grid), but a smaller branch network. CIMB Islamic: Comparable big-group distribution with far better rate publication (June 2026 FD-i board rates) and stronger card rewards (12% PETRONAS rebate). Public Islamic Bank: Smaller shelf but same-week deposit rate sheets and the best unconditional savings rate (ForU2Save 2.10%).
Are Maybank Islamic's products more expensive than conventional options?
Halal financing structures can have different fee structures compared to conventional products. Some options may be competitive with conventional rates, while others may have different cost structures. Pricing varies by product type, location, and individual circumstances. Always compare total costs and terms when evaluating options.
How do I contact Maybank Islamic?
Contact information for Maybank Islamic should be available through their website or the product listings above. Use the action links provided with each product to visit Maybank Islamic's website or contact them directly for more information.
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