No. of Days in the Particular Year

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1 Eligible for protection by PIDM 1. General 1.1 The PB eterm Deposit-i Account (hereinafter referred to as the PB etdi ) shall operate in accordance with the Shariah principle of Commodity Murabahah. 1.2 The Account holder appoints the Bank to act as the Account holder s restricted agent with the limited authority to purchase and, only if the Account holder so desires, to sell the commodity in accordance with these Terms and Conditions. The Bank acts as such agent and does not assume any additional obligations to the Account holder other than those for which specific provision is made in these Terms and Conditions. 1.3 As such agent of the Account holder, the Bank shall, during the tenure of the deposit or any renewal thereof, has the following powers and authority:- (a) To do and execute all acts with respect to the purchase of the commodity on an as is where is and cash basis ( Purchase Transactions ) through purchase agreements, certificates and other instruments as fully as the Account holder could do itself and to negotiate with commodity traders or suppliers ( the Suppliers ) on behalf of the Account holder in relation thereto but without any representation or warranty from the Bank as to the quality, condition, quantity and description of the commodity and without liability on the part of the Bank for any loss, damage, or deterioration and thereafter to take delivery of the commodity on behalf of the Account holder; and (b) To sell the commodity to the Bank on a deferred payment basis at a price equivalent to the amount of the deposit ( Deposit Amount ) plus return thereon (together Murabahah Sale Price ) on behalf of the Account holder and to do and execute all acts in relation thereto ( Sale Transaction ) unless the Account holder has notified the Bank otherwise. The Account holder further hereby agrees that the Account holder shall not revoke the Bank s agency as long as the Deposit Amount is placed with the Bank. All the actions of the Bank as the Account holder s agent shall remain binding on the Account holder and not be affected by any event taking place which may have the effect of revoking the agency appointment unless the Bank has actual knowledge of such event and the revocation is acceptable to the Bank in accordance with its product's terms and conditions. In consideration of the Bank acting as the Account holder s agent, the Account holder agrees to indemnify the Bank against all actions, claims, demands, liabilities, losses, damages, costs and expenses of whatever nature which the Bank may sustain or incur as a result of acting as the Account holder s agent. Note: Murabahah Sale Price is the aggregate of the Deposit Amount and the return thereon whereby the return is computed in accordance with the following formula:- Deposit Amount x Rate x No. of Days No. of Days in the Particular Year 1.4 The Account holder and the Bank acknowledge that the commodity shall be capable of physical delivery. The Account holder may request physical delivery of the commodity provided that the Bank has received such request at the time it receives the Account holder s instruction for the purchase of the commodity and the Bank has received the Deposit Amount. All costs and expenses related to the delivery of the commodity shall be borne and paid by the Account holder. In the event the Bank does not receive such request or the Deposit Amount, the Bank is expressly authorised by the Account holder to dispose of the commodity at such time and in such manner as the Bank may decide and the Account holder shall reimburse and pay the Bank all losses, damages, costs and expenses incurred or sustained by the Bank on account thereof in full. Page 1 of 5

2 1.5 The Bank shall purchase the commodity on behalf of the Account holder and thereafter the Account holder may sell the commodity to the Bank at the Murabahah Sale Price on a deferred payment basis. The Murabahah Sale Price shall comprise:- (a) The Deposit Amount; and (b) The return thereon. 1.6 In the event the Account holder makes an early demand for the payment of the Murabahah Sale Price before the maturity date of the deposit, the Account holder hereby acknowledges and agrees that the Account holder will relinquish all or part of the return comprised in the Murabahah Sale Price as determined by the Bank. Such determination by the Bank, shall, save for manifest error, be final, conclusive and binding on the Account holder. 1.7 The Account holder and the Bank agree that no proceeds from the sale of the commodity or any transactions contemplated herein shall be invested in any non-shariah compliant securities, financial instruments or activities. 1.8 No transaction can be entered into in respect of gold, silver or any product that is not Shariahcompliant. 1.9 The Account holder and the Bank agree that their respective rights and obligations herein are intended to be and in conformity with the Shariah as determined from time to time by the rulings of the Shariah Committee and/or the Shariah Supervisory Council of the Bank The Bank and the Account holder hereby grant their respective consent to the other party to use personal information relating to them to the extent necessitated by these Terms and Conditions or as notified by each other from time to time The Account holder hereby appoints the Bank as agent for the restricted purposes set out above and, pursuant thereto, the Bank shall during the tenure of the deposit or any renewal thereof, has the following powers and authority:- 2. Eligibility a) To do and execute all acts with respect to the Purchase Transaction through purchase agreement, certificates and other instruments and to negotiate with the Suppliers on the Account holder s behalf in relation thereto and thereafter to accept delivery of the commodity so purchased; and/or b) To sell the commodity on a defended payment basis to the Bank at the Murabahah Sale Price on the Account holder s behalf and to do and execute all acts in relation to the Sale transaction unless the Account holder have notified the Bank otherwise. 2.1 PB etdi is a Shariah-compliant fixed deposit account which allows Account creation, placements and withdrawals to be performed online via PBe Online Banking (hereinafter referred to as PBe ). 2.2 PB etdi is an Islamic term deposit product. 2.3 PB etdi is only available to individual Account holders aged eighteen (18) years and above and sole proprietors, who have existing Conventional/Islamic personal Current Account or Savings Account/Current Account-i or Savings Account-i (CASA/CASA-i) and who have registered for PBe (herein referred to as the Account holder ). The PB etdi is not available for joint CASA/CASA-i. 2.4 Non-individuals i.e. partnership, corporate entities, associations, clubs and societies are NOT eligible to open or to operate the PB etdi. Page 2 of 5

3 3. Account Opening and Placement 3.1 PB etdi can only be opened and transacted online via PBe. 3.2 Over the counter transactions are NOT allowed. 3.3 A CASA/CASA-i must be selected during the PB etdi account opening (hereinafter referred to as the Designated CASA ) and tagged to the PB etdi for placement/withdrawal/profit crediting purposes. 3.4 PB etdi will be linked to the Designated CASA from which the first PB etdi placement is made. 3.5 The PB etdi Account holder s information will be the same as the information captured from the Designated CASA. 3.6 Multiple placements into the PB etdi are allowed. However, placements can only be made via PBe between six (6) a.m. and twelve (12) midnight, seven (7) days a week, or during such hours as stipulated by Public Islamic Bank Berhad (hereinafter referred to as the Bank ) at PBe. 3.7 Placements of each PB etdi must be made for a period of between one (1) month to twenty four (24) months, thirty six (36) months, forty eight (48) months and sixty (60) months or any other period and at such profit rate to be determined by the Bank at any time. 3.8 The Account holder shall place a minimum deposit of Ringgit Malaysia One Thousand (RM1,000) for all PB etdi tenures. 3.9 No physical Term Deposit-i (TD-i) Receipt will be issued for the PB etdi placement. In the absence of a physical TD-i, the placement reflected online will be binding on the Account holder as well as the Bank Upon successful placement, the PB etdi Placement/Renewal Slip will be generated which will contain details of the placement. Transactions in the PB etdi will also be reflected in the quarterly statement of the PB etdi, which will be made available online via PBe The source of funds for the PB etdi placement will be debited from the Designated CASA The Designated CASA is not allowed to be closed unless all outstanding PB etdi placement(s) have been withdrawn and the withdrawal proceeds have been credited to the Designated CASA The effective date of the PB etdi placement will be on the same day of placement if successfully placed via PBe All placement(s) under the PB etdi account shall NOT be used as collateral for pledging purposes. 4. Profit Rate and Profit Payment 4.1 Profit on this PB etdi will cease at due date. Accrued profit on the PB etdi is subject to the Bank s right to withhold such sum(s) as are required as withholding or other taxes, levies or impositions from time to time. 4.2 The tenure and the mode of profit payment available are as follows:- Tenure Profit Payment 1 12 months Credit into the Designated CASA monthly; or Credit into the Designated CASA upon maturity; or Add on to the principal upon maturity 13-24, 36, 48 and 60 months Credit into the Designated CASA monthly Page 3 of 5

4 4.3 The profit payment mode is to be selected upon placement of the PB etdi. 4.4 Profit is calculated to the actual number of days. 5. Withdrawals 5.1 Withdrawals of PB etdi can only be performed via PBe and partial withdrawals of any PB etdi are NOT allowed. 5.2 Upon withdrawal of a PB etdi, the principal sum and profit accrued thereon (if any), shall be automatically credited into the Designated CASA. 5.3 The PB etdi can be withdrawn on the same day of placement. However, both the placement and withdrawal transaction on the particular day will not be reflected in the PB etdi quarterly statement. 6. Premature Withdrawal 6.1 Premature withdrawal of PB etdi can only be performed via PBe. 6.2 Subject to the provisions in item 6.4 hereto, in respect of the PB etdi tenure of one (1) month, no profit will be paid on the PB etdi placements withdrawn prior to maturity. 6.3 Subject to the provisions in item 6.4 hereto, in respect of the PB etdi tenures exceeding one (1) month, the following shall apply:- a) No profit will be paid on the PB etdi uplifted before the completion of one (1) month. For PB etdi uplifted prematurely, after the completion of one (1) month, profit will be calculated and paid at 50% of the original contracted rate for each completed month. b) For the Account holder who opts for monthly profit crediting into the Designated CASA, the Bank shall claw back the difference between the premature withdrawal rate and the original contracted rate by deducting the aforesaid difference from the principal before the withdrawal proceed is released to the Designated CASA. 6.4 With effect from, no profit will be paid for premature withdrawals of the PB etdi that are placed on or renewed after 1 May By way of illustration, the profit payment, if any, are as follows:- 7. Renewal/Rollover Date of Placement or Renewal Prior to 1 May 2018 From 1 May 2018 Date of Premature Withdrawal Prior to From Prior to From 1 January 2019 Profit Payment No profit will be paid on the PB etdi uplifted before the completion of one (1) month. For PB etdi uplifted prematurely, after the completion of one (1) month, profit will be calculated and paid at 50% of the original contracted rate for each completed month. No profit will be paid. 7.1 Upon maturity, the PB etdi shall be automatically renewed for the same period at the prevailing profit rates. Page 4 of 5

5 8. Right of Set-Off 8.1 The Bank may at any time with seven (7) days prior notice to the Account holder to set off or transfer any sum(s) standing in the credit of the PB etdi Account towards the satisfaction of any liabilities, jointly or severally, on any other amount of the Acccount holder. 9. Statement of Account 9.1 A quarterly account statement listing out the individual PB etdi and the related transactions will be issued by the Bank and made available online via the PBe mailbox. 9.2 The Account holder is to examine with due care all the entries in the statement promptly and to report immediately to the Bank of any error or discrepancies found therein. If the Bank does not receive any notification in writing within twenty one (21) calendar days from the statement date of any errors or discrepancies as regards to the withdrawal or placement transactions in the statement, then the Account holder is deemed to have accepted such entries made up to the date of the last entry in the statement as correct, binding, final an conclusive and thereby adopt all withdrawal or other debits to the account therein. 10. Unclaimed Moneys Act Pursuant to the Unclaimed Monies Act 1965, a PB etdi on automatic renewal will be classified as unclaimed money seven (7) years from the date of the last transaction in the PB etdi Account The Account holder is required to come to the Bank prior to the expiry of the 7th year to reactivate the account. Failing which on the 7th year, the Bank shall give twenty one (21) days prior notice before arranging to transfer the balance in this PB etdi Account to the Registrar of Unclaimed Moneys. 11. General 11.1 Notwithstanding the provisions herein, the Bank reserves the right at its sole discretion to prevent any operation on this PB etdi Account if the Bank suspects that the said account is being used for any illegal purpose whatsoever The terms and conditions herein shall be subject to the provisions of the Islamic Financial Services Act 2013 (IFSA) and any other modifications thereto from time to time, and any directive from Bank Negara Malaysia. The Bank further reserves the right to vary, amend or revise any of the terms and conditions mentioned herein, the features and benefits of the PB etdi Account by displaying a notice on the revisions at the Bank s premises and website before the revisions are effected The Account holder confirms and undertakes that it:- (a) Has received, read and understood and hereby agrees to be bound by the Bank s rules, terms and conditions governing the operations of the deposit and agrees to be bound by them; and (b) Is not subject to any proceedings or petition for insolvency, composition, winding-up, liquidation or other similar relief under any insolvency or similar law in any jurisdiction to which the Account holder is subject. [THE REMAINDER OF THIS PAGE HAS BEEN INTENTIONALLY LEFT BLANK] Page 5 of 5