Term Deposit Related FAQs

What is a Term Deposit in Subuk App?

A Term Deposit is a secure investment where you place a fixed amount in your MCB Islamic account for a set period at an agreed profit rate. The funds are locked until maturity, and you earn profit as per the agreed terms.

How can I open (request) a Term Deposit using Subuk App?

  • Log in to Subuk App
  • Go to Hub Menu → Term Deposit → New Term Deposit Request
  • Select “from” account, deposit amount, and tenure
  • Confirm using T-PIN

Your term deposit will be booked instantly, and you will see it in your Term Deposit list.

Can I open multiple Term Deposits at the same time?

Yes. You can have multiple active term deposits as long as you have sufficient funds in your account.

How can I view the details of my Term Deposit?

  • Log in to Subuk App
  • Go to Hub Menu → Term Deposit → Term Deposit Details
  • Select the term deposit that you want to view

You’ll see details such as principal amount, profit rate, tenure, start date, and maturity date.

How can I view my Term Deposit statement?

  • Log in to Subuk App
  • Go to Hub Menu → Term Deposit → View Statement
  • Select the desired term deposit and date range

You can download or share the statement.

How do I redeem (close) my Term Deposit?

  • Go to Term Deposit → Redeem Term Deposit
  • Select the term deposit that you want to redeem
  • Confirm with your T-PIN

Note: Premature redemption may result in reduced profit as per bank policy.

Is there a minimum amount required for opening a Term Deposit?

Yes. The minimum deposit amount will be displayed on the booking screen during booking.

When will I receive my profit?

Profit is paid as per the payout frequency you choose while booking:

  • Monthly
  • Quarterly
  • Semi-annual
  • Annual
  • At maturity

Are there any charges for Term Deposit transactions?

Opening and redeeming a term deposit through Subuk App is free of charge. However, government taxes and levies may apply as per regulations on profit.

Can I change the tenure or profit payout method after booking?

No. Once a term deposit is booked, the tenure and profit payout method cannot be changed. You would need to redeem it and open a new term deposit with updated terms.

Can I redeem my Term Deposit before maturity?

Yes. This is called premature redemption or early redemption. You may redeem your Term Deposit early but profit may be reduced as per the bank’s premature redemption policy.

What are the requirements to open a TDR account?

  • You must have an active MCB Islamic Bank account (Current or Savings)
  • Sufficient balance to meet the minimum deposit amount displayed in the app

Do I need to provide any physical documents?

No physical documents are required when opening a TDR through Subuk App — the entire process is digital.

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