Affin Islamic launches the Hajj savings account

KUALA LUMPUR: Affin Islamic Bank Bhd is offering a new product which enables Muslims to save for their plan to perform the Hajj in Mecca.

The product, the Affin Impian Haji Savings Account-i, is a new structured savings plan that comes with Takaful protection, it said in a statement today.

The product is based on the Shariah concept of "Mudharabah", where profit sharing ratios are pre-determined and mutually agreed between the customer and the bank at the onset of the investment.

It offers flexibility to customers via a choice of three types of savings plan with tenures of five, ten or 15 years, and a wide range of deposit amounts from as low as RM167 per month.

"With AFFIN Impian Haji Savings Account-i, Muslim customers can choose a savings plan that will best suit their budget and preferred timeframe," the bank said.

The product also provides Takaful protection from Syarikat Takaful Malaysia Bhd for the customer with coverage upon death or total permanent disability and the provision of funeral benefits. -- Bernama

Read more: Affin Islamic launches the Hajj savings account http://www.btimes.com.my/Current_News/BTIMES/articles/20130923164942/Article/index_html#ixzz2fiLUaSL9